Investec Plc · LSE:INVP
Investec — Investor Presentation (June 2026)
43 slides from Investec's investor presentation, June 2026
Slide 1: Investing for long-term growth
Investing for long-term growth INVESTEC LIMITED INVESTOR GENERIC PRESENTATION JUNE 2026 The information in this presentation relates to the year ended 31 March 2026, unless otherwise indicated.
Slide 2: Contents
Contents 01 Investec 02 03 04 05 Investec Investec Limited Investec Appendices Group at a Limited operating Limited peer glance overview fundamentals analysis 22
Slide 3: Investec Group at a glance
Investec Group at a glance 3
Slide 4: Investec Dual-Listed Company structure
Investec Dual-Listed Company structure Non-Southern African operations Southern African operations • Investec plc and Investec Limited are Investec plc Investec Ltd separate legal entities and listings, but are bound together by contractual agreements Sharing and mechanisms Agreement • Investec oper
Slide 5: Our international footprint
Our international footprint Since inception, we have Countries in which we operate expanded through a combination of substantial organic growth and a Wealth & Investment Activities series of strategic acquisitions. Private Client Banking Activities Our focus today is on growth Business & Commercial
Slide 6: One Investec
One Investec Our purpose is to create enduring worth. Our values 50+ years of Deep client partnerships, built on trust and Out of the Ordinary service, are the bedrock of our business heritage. We uphold cast-iron integrity in all our dealings, consistently displaying moral strength Two core We seek
Slide 7: Investment proposition
Investment proposition Well positioned to pursue long-term growth 1 Well capitalised and highly liquid balance sheet 2 Committed to optimising shareholder returns - managing capital dynamically and allocating it to activities that generate returns above cost of capital 3 Diversified mix of earnings
Slide 8: Our strategic intent today | Disciplined growth
Our strategic intent today | Disciplined growth GROWING EXISTING CLIENT FRANCHISES CAPITAL ALLOCATION DISCIPLINE We remain focused on growing our core client franchises, through disciplined and targeted A disciplined approach to capital allocation ensures expansion across key businesses. our aim is
Slide 9: Our pathway to Net Zero by 2050
Our pathway to Net Zero by 2050 Three channels of impact FY26 loan book exposure: Coal: 0.09% (Mar-25: 0.05%) 1 Meeting our fossil fuel exposure commitments Fossil fuels: 0.98% (Mar-25: 1.17%*) Facilitated £3.1bn in year 1 of our 5-year target to facilitate 2 Driving sustainable and transition finan
Slide 10: Highlights: Investec's commitment to society and the environment
Highlights: Investec’s commitment to society and the environment Commercial activity Philanthropic activity Own operations Prioritising the development of the mid-market sector – a Investec Promaths has supported We pursue diversity and strive to crucial driver of job creation and economic growth cr
Slide 11: Overview of Investec Limited
Overview of Investec Limited 11
Slide 12: Overview of Investec Limited
Overview of Investec Limited Investec Limited is a distinctive specialist bank and investment manager with primary business in Southern Africa. We focus on delivering distinct profitable solutions for our clients in two core areas of activity, namely: Specialist Banking and Wealth & Investment Total
Slide 13: Specialist Banking
Specialist Banking We have a specialised niche offering to a select target market • Invested in our • Strong technology • Deepening our • Our growth initiatives • Maintaining cost • Maintaining sound business, and digital platforms existing client and strong franchise efficiency with capital ratios
Slide 14: Specialist Banking: Private Banking
Specialist Banking: Private Banking A full-service Private Banking offering integrated into One Place™ Ambition • To be a leading domestic and international Private Bank • High net worth individuals, high-income professionals, sophisticated investors, emerging and established entrepreneurs, and Clea
Slide 15: Specialist Banking: Corporate & Investment Banking
Specialist Banking: Corporate & Investment Banking Strong franchise value and leading market position in our niche markets ◦ Mid to large size corporates (listed and unlisted), financial advisers and intermediaries, government and public sector institutions, banks and financial Target market service
Slide 16: Specialist Banking: Business & Commercial Banking
Specialist Banking: Business & Commercial Banking Bespoke lending offerings for working capital optimisation and business growth Ambition ◦ Develop an integrated niche offering to our target clients Clear target market ◦ Smaller and mid-tier corporates ◦ Combining bespoke lending with Investec’s oth
Slide 17: Wealth and Investment International (IW&II)
Wealth and Investment International (IW&II) Operating Profit Revenue Annuity FUM Net inflows 5-year average R1.1bn R3.2bn R341bn +5% From R0.5bn in FY20 From R1.6bn in FY20 From R120bn in FY20 of opening FUM Funds Under Management Wealth & Investment International Today R’bn 13 Client centric approa
Slide 18: IW&II: Why do clients choose us?
IW&II: Why do clients choose us? A differentiated, client‑centric business model underpinned by consistent execution and measurable returns Differentiation: Our right to win Evidence Buildingoftrust Success through time International business More than two thirds of FUM is invested in international
Slide 19: Group Investments overview
Bud Group Holdings (Pty) Ltd Group Investments overview • Bud Group Holdings (previously Investec Equity Partners) is an investment holding company that was born out of the Investec private equity portfolio, which was sold to Bud Group Holdings in 2016. Investec Limited (Investec) retained an intere
Slide 20: Investec Limited operating fundamentals
Investec Limited operating fundamentals 20
Slide 21: Revenue supported by resilient franchises
Revenue supported by resilient franchises Revenue mix Overall financial profile R’bn 25.1 R’bn 100% 25 23.3 25 20 20 75% 15 15 10 10 50% 5 5 0 25% 0 March 2022 March 2023 March 2024 March 2025 March 2026 March 2022 March 2023 March 2024 March 2025 March 2026 Net Interest Income (LHS) Net fees and co
Slide 22: Revenue supported by resilient franchises (cont.)
Revenue supported by resilient franchises (cont.) Impact of impairments on adjusted operating profit Contribution to adjusted operating profit R’mn 12 000 At 31 March 2026 0.7% 9.2% 10 000 8 000 Wealth & Investment 6 000 Specialist Banking 4 000 Group Investment 2 000 — 90.1% March 2022 March 2023 M
Slide 23: Healthy loan to deposit ratio, stable customer deposit base
Healthy loan to deposit ratio, stable customer deposit base Fully self funded from customer deposits: healthy loan to deposit ratio R'bn 80% 500 400 75% • Customer deposits have grown by 19.8% (c.4.6% 5-year 300 CAGR) since March 2022 to R503.3bn at 31 March 2026 70% 200 • Loans and advances as a pe
Slide 24: Sound capital base and capital ratios
Sound capital base and capital ratios Total capital (R'mn) Total risk-weighted assets: lower RWA density 60 000 700 000 80% 50 000 600 000 70% 60% 500 000 40 000 50% 400 000 30 000 40% 300 000 30% 20 000 200 000 20% 10 000 100 000 10% 0 0 —% 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Total as
Slide 25: Sound capital ratios and capital ratios (cont.)
Sound capital ratios and capital ratios (cont.) Capital ratios^ Capital ratios 20% 18.9% IRB Scope* 17.5% 18% 31 March 2026^ 31 March 2025^ 16% 13.6% 14.8% Common Equity Tier 1 13.6% 14.8% 14% 12% Tier 1 ratio 15.4% 16.1% 10% 8% Total capital ratio 17.5% 18.9% 6.2% 6.1% 6% Leverage ratio ** 6.1% 6.2
Slide 26: Consistent asset growth, gearing ratios remain low
Consistent asset growth, gearing ratios remain low Total assets composition (R'bn) Gearing remains low* 800 14.0 729 682 11.9 11.8 12.0 600 10.0 8.0 400 6.5 6.6 6.0 4.0 200 2.0 0 0.0 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Net core loans Cash and near cash balances Other assets Total geari
Slide 27: Substantial surplus liquidity
Substantial surplus liquidity • We maintain a high level of readily available, high quality liquid assets, targeting a Cash and near cash balances minimum cash to customer deposit ratio of 25%. Cash and near cash balances have increased significantly since 31 March 2016 (5% CAGR) to R199.0bn at 31 M
Slide 28: Diversified funding strategy
Diversified funding strategy • Investec’s funding consists primarily of customer deposits • Investec adopts a conservative and prudent funding strategy Conservative and prudent funding strategy 1 Maintaining a high base of high-quality liquid assets 5 Low reliance on wholesale funding 2 Diversifying
Slide 29: Exposures in a select target market
Exposures in a select target market • Credit and counterparty exposures are to a select target market: – high net worth and high-income clients – mid to large sized corporates – government, public sector bodies and institutions • We typically originate loans with the intent of holding these assets t
Slide 30: Asset quality
Asset quality Core loans and asset quality R'bn 500 4% 399.5 400 369.8 3% 300 1.6% 2% 2.0% 200 1% 100 0.14% 0.14% 0 0% 2022 2023 2024 2025 2026 Net core loans and advances (LHS) Credit loss ratio (RHS) Stage 3 net of ECL as a % of net core loans subject to ECL (RHS) Credit quality metrics on core lo
Slide 31: Asset quality metrics
Asset quality metrics Provision build Gross core loans by stage R’mn R’mn 4000 as % of 5.9% 4.9% 2.4% 2.6% 2.6% gross core 1.8% 2.7% 3.5% 3.3% 2.1% 20 000 loans 3000 17 589 1893 15 953 2000 1879 2 530 2 238 15 000 1000 623 250 12 203 271 286 761 645 508 603 10 340 9 715 9 920 0 10 000 8 856 8 495 8
Slide 32: Credit ratings
Credit ratings Current credit ratings of Investec Limited • Investec Limited’s ratings have remained stable over many Fitch Rating years reflecting the financial soundness of the bank over a long period of time. In June 2026, Fitch Ratings upgraded Foreign currency long-term rating BB Investec Limit
Slide 33: Appendices
Appendices 33
Slide 34: Macroeconomic scenarios – 31 March 2026
Macroeconomic scenarios – 31 March 2026 Key judgements at 31 March 2026 R'bn South Africa GDP forecast The measurement of ECL requires the use of multiple economic scenarios to calculate a 6 400 probability weighted forward-looking estimate. These scenarios are updated at least twice a year, or more
Slide 35: Investec Limited: salient financial features
Investec Limited: salient financial features Key financial statistics 31 March 2026 31 March 2025^ % change Operating income (R’million) 25 106 23 247 8.0 % Operating costs (R’million) 13 166 12 081 9.0 % Operating profit before goodwill and acquired intangibles (R’million) 11 333 10 686 6.1 % Headl
Slide 36: Investec Limited: income statement
Investec Limited: income statement R’million 31 March 2026 31 March 2025^ Interest income 50 022 51 236 Interest expense (35 752) (37 671) Net interest income 14 270 13 565 Fee and commission income 7 930 7 006 Fee and commission expense (997) (949) Investment income 1 862 1 821 Share of post-taxati
Slide 37: Investec Limited: balance sheet
Investec Limited: balance sheet R’million 31 March 2026 31 March 2025^ Assets Cash and balances at central banks 19 511 19 268 Loans and advances to banks 9 200 10 966 Non-sovereign and non-bank cash placements 14 886 10 100 Reverse repurchase agreements and cash collateral on securities borrowed 66
Slide 38: Investec Limited: balance sheet (cont.)
Investec Limited: balance sheet (cont.) R’million 31 March 2026 31 March 2025^ Liabilities Deposits by banks 41 595 30 778 Derivative financial instruments 20 764 16 929 Other trading liabilities 30 991 37 438 Repurchase agreements and cash collateral on securities lent 15 191 23 260 Customer accoun
Slide 39: Investec Limited: asset quality
Investec Limited: asset quality R’million 31 March 2026 31 March 2025 Gross core loans 402 659 373 065 Of which FVPL (excluding fixed rate loans) 1 524 1 456 Gross core loans to customers subject to ECL* 401 135 371 609 Stage 1 382 300 351 974 Stage 2 10 340 9 715 of which past due greater than 30 d
Slide 40: Investec Limited: capital structure and capital adequacy
Investec Limited: capital structure and capital adequacy IRB Scope* 31 March 2026^ 31 March 2025^ Common Equity Tier 1 13.6% 14.8% Tier 1 ratio 15.4% 16.1% Total capital ratio 17.5% 18.9% Risk-weighted assets (R'million) 316 385 292 814 Leverage exposure measure (R'million) 799 008 763 205 Leverage
Slide 41: Investec Limited: capital structure and capital adequacy (cont.)
Investec Limited: capital structure and capital adequacy (cont.) IRB Scope* R’million 31 March 2026^ 31 March 2025^ Shareholders’ equity 53 029 50 759 Shareholders’ equity per balance sheet 55 324 53 210 Perpetual preference share capital and share premium (2 295) (2 451) Non-controlling interests —
Slide 42: Investec Group's sustainability awards and recognition
Investec Group’s sustainability awards and recognition Better Society Awards INSEAD Alumni Climate Leaders 2025 2026 Balance in Business Awards 2024 Recognised as Africa’s best Winner of the best Awarded best FTSE 250 strategy Recognised as one of Europe's for Philanthropic Advisory, Partnership wit
Slide 43: Sustainability highlights (Investec Limited)
Sustainability highlights (Investec Limited) Operate responsibly, finance and invest in a sustainable future and maintain our competitive sustainability position Our two focus areas Addressing climate change Supporting socioeconomic progress Committed to zero thermal Fossil fuels as % We introduced