Investec : Abridged Report

Alternative performance measures

We supplement our IFRS figures with alternative performance measures used by management internally and which provide valuable, relevant information to readers. These measures are highlighted with

the symbol shown here. The description of alternative performance measures and their calculation is provided in the alternative performance measures section.

Audited information

Denotes information in the risk and remuneration reports that forms part of the Group's audited annual financial statements.

Page references

Refers readers to information elsewhere in this report.

Integrating sustainability

Indicates where we have incorporated sustainability content, aims and ambitions.

Website

Indicates that additional information is available on our website: www.investec.com

Group sustainability

Refers readers to further information in the Investec Group's 2023 sustainability report which is published and available on our website: www.investec.com

Unaudited information

Indicates information which has not been audited.

Reasonable assurance

Denotes information in the sustainability summary that has been reasonably assured by KPMG Inc.

Strategic report

Section 414A of the UK Companies Act 2006 (the UK Companies Act) requires the directors to present a strategic report in the annual report and accounts.

This document, the strategic report, should be read in conjunction with the Investec Group's 2023 risk and governance report and the Investec Group's 2023 remuneration report, which elaborate on some of the aspects highlighted in the strategic report.

Feedback

We value feedback and invite questions and comments on our reporting. To give feedback please contact our Investor Relations division.

For queries regarding information in this document:

Investor relations

About this abridged report

The integrated annual review and summary financial statements contain the Investec integrated and strategic report as well as summarised annual financial statements for the year ending

31 March 2023. The summarised annual financial statements are based on the audited annual financial statements of the Investec dual-listed company. The annual financial statements can be obtained on the Investec website: www.investec.com.

This report was prepared in accordance with and containing the information required by IAS 34: Interim Financial Reporting, as well as the SAICA Financial Reporting Guides as issued

by the Accounting Practices Committee and Financial Pronouncements as issued by Financial Reporting Standards Council. The accounting policies are in terms of IFRS and are consistent with those applied to prepare the annual financial statements on which this summary was based. The summarised annual financial statements have been been correctly extracted from the annual financial statements.

These abridged annual financial statements have been extracted from the audited annual financial statements on which Ernst & Young LLP and Ernst & Young Inc. have issued an unmodified audit report. The auditors' report on the annual combined consolidated and separate annual financial statements is available for inspection at the company's registered office.

This report covers all our operations across the various geographies in which we operate and has been structured to provide stakeholders with relevant financial and non-financial information. The summary annual financial statements have been approved by the Board of Directors of the Group and were signed on its behalf by the Chief Executive, Mr Fani Titi.

This document provides a summary of the information contained in the Investec Group's 2023 annual report. It is not the Group's statutory accounts and does not contain sufficient information to allow for a complete understanding of the results and state of affairs of the Group as would be provided by the full annual report. For further information, consult the full annual financial statements, the unqualified auditor's report on those annual financial statements and the Directors' report. The auditors' report did not contain a statement under section 498(2) or section 498(2) of the UK Companies Act 2006.

Electronic copies of the full Investec Group's 2023 annual report can be found on the Group's website: www.investec.com.

Report of the Auditor

The Auditor's report on the full accounts for the year ended 31 March 2023 was unqualified, and their statement under section 496 of the Companies Act 2006 (whether the strategic report and the Directors' report are consistent with the accounts) was unqualified.

As a requirement of our dual-listed company (DLC) structure, we comply with the disclosure obligations contained in the applicable listing rules of the UK Listing Authority (UKLA), the JSE Limited (JSE) and other exchanges on which our shares are listed. We further comply with any public disclosure obligations as required by the UK regulators and the South African Prudential Authority, as well as the recommendations of the King IV Code and the UK Governance Code 2018.

Annual integrated report

This report covers the period

1 April 2022 to 31 March 2023 and includes material issues up to the date of Board approval on 27 June 2023.

This report covers all our operations across the various geographies in which we operate and has been structured to provide stakeholders with relevant financial and non-financial information.

All references in this report to Investec, the Investec Group, or the Group relate to the combined Investec DLC Group comprising Investec plc and Investec Limited.

The Investec Group annual reporting suite comprises the following documents:

Investec Group integrated and strategic report

Strategic report incorporating a business overview and a summary of our risk, sustainability, governance and remuneration practices

Investec risk and governance report

Sets out the more detailed management of risks relating to the Group's operations and the governance committee reporting

Investec annual financial statements

Sets out the full DLC audited annual financial statements

Investec remuneration report

Sets out the full remuneration practices of the Group including implementation of policies and the directors' remuneration report

Group sustainability report

This report provides a holistic view of the Group's social and environmental impact within our operations including our contribution to the Sustainable Development Goals (SDGs). We incorporate material information from the main geographies in which we operate.

Group climate-related financial disclosures report

This report provides our progress on the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

We incorporate material climate-related matters in this report.

Pillar III disclosure reports

These reports provide disclosures that allow market participants to assess the scope of application by banks of the Basel committee's framework and the rules in their jurisdiction - their capital condition, risk exposure, risk management process and capital adequacy.