22 Jun - 3 min read

Non-Executive Director Changes

Non-Executive Director Changes

Investec Limited                                          Investec plc
Incorporated in the Republic of South Africa              Incorporated in England and Wales
Registration number 1925/002833/06                        Registration number 3633621
JSE share code: INL                                       LSE share code: INVP
NSX share code: IVD                                       JSE share code: INP
BSE share code: INVESTEC                                  ISIN: GB00B17BBQ50
ISIN: ZAE000081949                                        LEI: 2138007Z3U5GWDN3MY22
LEI: 213800CU7SM6O4UWOZ70

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 United
Kingdom Listing Authority (the "UKLA") and/or the JSE Listings Requirements.

Accordingly we advise of the following:

                                  Non-Executive Director Changes


As announced on 19 March 2021, the Group Chair, Perry Crosthwaite, will be standing down with effect
from the Group’s 2021 Annual General Meeting (the “AGM”), which will take place on 5 August 2021.

Following a comprehensive search process, the Board is pleased to confirm that Philip Hourquebie, a
non-executive director of the Group since 14 August 2017, and currently Chair of the DLC
Remuneration Committee, has been selected as the successor to Perry as the Group Chair. Philip will
assume the role of Group Chair at the conclusion of the Group’s 2021 AGM. A sub-committee of the
Board, which, with the assistance of international executive search firm, Odgers Berndtson, considered
a diverse list of potential internal and external candidates with the experience and personal qualities to
become chair, led the search process, before making a recommendation to the DLC Nominations and
Directors’ Affairs Committee. Further details in respect of the process followed for appointing Philip as
the successor to the Group Chair can be found in Investec group’s 2021 integrated annual report, which
will be published on the Investec website on 30 June 2021.

Further to the above, and in accordance with Section 3.59 of the JSE Limited Listings Requirements
and Rule 9.6.11 of the UKLA Listing Rules, the Board announces the appointment, with immediate
effect, of Brian Stevenson as a non-executive director of the Board.

Brian will also be appointed as a member of the Group’s Board Risk and Capital Committee as well as
the Nominations and Directors’ Affairs Committee.

Brian is the independent non-executive Chair of Investec Bank plc (IBP), the Group’s UK Specialist
Bank. He has substantial strategic, governance and financial services experience, having held a
number of senior executive roles, including previously serving as Chief Executive Officer and Chair of
Royal Bank of Scotland’s global transaction services division. Brian has also held various non-executive
positions, including the Agricultural Bank of China (UK) Limited and Deutsche Bank Nederland NV.

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 incredibly grateful to Perry for his exemplary service, commitment and contribution to the
Group, and wishes him well with his future endeavours.

The Board congratulates Philip on his appointment as the successor to the Group Chair, and Brian on
his appointment as a non-executive director on the Board.


London and Johannesburg
22 June 2021

Notes:
Current directorships: Philip Hourquebie

Aveng Limited
Investec Property Fund
Investec Bank Limited

Current directorships: Brian Stevenson

Westpac Europe Limited

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
8,500 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. Investec’s current market capitalisation
is approximately GBP2.7 billion.

Date: 22-06-2021 04:00:00
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