As part of the dual listed company structure, the boards of Investec plc and Investec Limited (together the "Board") notify both the London Stock Exchange and the JSE Limited of matters which are required to be disclosed under the Disclosure Guidance and Transparency Rules, and Listing Rules of the Financial Conduct Authority (the "FCA") and/or the JSE Listings Requirements.

Accordingly, we advise of the following:

Non-Executive Director Changes

In line with the Board approved non-executive director succession plan, the Board previously announced that Zarina Bassa will step down from the Board and the Board of Investec Bank Limited at the annual general meeting to be held on 08 August 2024, having reached nine years of service to the Investec Group in November 2023.

Further to the above, and in accordance with Section 3.59 of the JSE Listings Requirements and Rule 9.6.11 of the FCA Listing Rules, the Board is pleased to announce the appointment, with immediate effect, of Diane Radley as a non-executive director of the Board and to the Board of Investec Bank Limited.

Diane has been identified as the successor to Zarina as Chair of the Group Audit Committee and Investec Bank Limited Audit Committee and will accordingly assume the role when Zarina stands down from the Investec Group on 08 August 2024.

Diane is an accountant by training with an MBA from Wits Business School. She has extensive financial services experience including banking, long- and short-term insurance, asset management - both traditional and alternative asset classes, lending, fintech, payments and distressed consumer debt. She was Partner in charge of Transaction Services at PwC advising on local and international listings and corporate transactions before becoming CFO of JSE listed Allied Electronics Ltd. She served as Old Mutual South Africa's Group Finance Director and later as CEO of the Old Mutual Investment Group until the end of 2016. She has served as a non-executive director on a number of local and international company boards and is a trustee of the DG Murray Trust, a strategic investor and public innovator creating change in South Africa.  Save for the directorships listed in the notes, there are no further details required to be disclosed by Rule 9.6.13 of the UK Listing Rules.

The Board is grateful to Zarina for her exemplary service, commitment, and contribution to the Group, and wishes her well with her future endeavours.

The Board congratulates Diane on her appointment as a non-executive director of the Board and looks forward to working with Diane in the coming years.   

London and Johannesburg

06 March 2024

Sponsor

Investec Bank Limited

Notes:

Current directorships: Diane Radley

1.    Marriott Unit Trust Company Pty Ltd

2.   DG Murray Trust

3.   Base Resources Ltd

4.   Transaction Capital Ltd

5.   Efficient Group 2 Pty Ltd

6.   Redefine Properties Ltd

7.   Network International plc

8.   Jumo World Holding Ltd

9.   Globeleq Ltd

About Investec

Investec partners with private, institutional, and corporate clients, offering international banking, investments, and wealth management services in two principal markets, South Africa, and the UK, as well as certain other countries. The Group was established in 1974 and currently has approximately 8,200 employees.

In 2002, Investec implemented a dual listed company structure with listings on the London and Johannesburg Stock Exchanges. In March 2020, the Group successfully completed the demerger of Ninety One, which became separately listed on 16 March 2020.