Investec PlcLSE: INVP

Bank Limited and Investec Limited Pillar 3 disclosure report June 2026 (Investec Bank Limited and Investec Limited Pillar 3 disclosure report June 2026)

· Issued by Investec Plc
Watch Investec explain itInvestec Group (INVP) Q4 2026 Earnings Call · Replay · Mar 19

growth

‌Investing for long-term

PILLAR 3 QUARTERLY DISCLOSURE REPORT - JUNE 2026

Investec Limited Group and Investec Bank Limited Group



Investec Limited group and Investec Bank Limited group

Basel Pillar 3 disclosure quarterly report - June 2026

1

CONTENTS

‌OV1: OVERVIEW OF RWA 3

KM1: KEY METRICS 5

LR1: SUMMARY COMPARISON OF ACCOUNTING ASSETS VS LEVERAGE MEASURE 8

LR2: LEVERAGE RATIO COMMON DISCLOSURE TEMPLATE 9

LIQ1: LIQUIDITY COVERAGE RATIO (LCR) 12

CR8: RWA FLOW STATEMENT OF CREDIT RISK EXPOSURES UNDER IRB 15

CMS1: COMPARISON OF MODELLED AND STANDARDISED RWA 17

1

01 Investec Limited group and Investec Bank Limited group

Basel Pillar 3 disclosure quarterly report - June 2026

‌Overview of risk management, key prudential metrics and RWA

2



OVERVIEW OF RISK MANAGEMENT, KEY PRUDENTIAL METRICS AND RWA

‌SCOPE OF PILLAR 3 DISCLOSURES

This document and tables encompass the Investec Limited group (the Group), including both regulated and unregulated entities, which is equivalent to the scope of the group controlling company as defined by the South African Prudential Authority for consolidated regulatory reporting purposes. Comparative tables related to the Investec Bank Limited group (the Bank) are also presented in this report, where these disclosures are considered to be meaningful to the user and are materially different from the Group. References to Investec in this report encompass both the Bank and Group.

OV1: OVERVIEW OF RWA

The following section provides an overview of the total RWA forming the denominator of the risk-based capital requirements.

R'million

a

c

b

a

c

b

Investec Limited Group

Investec Banfi Limited Group

RWA(2)

MC(1)

RWA

RWA

MC

RWA

30 June 2026

30 June 2026

31 March

2026

30 June 2026

30 June 2026

31 March

2026

1

Credit risfi (excluding counterparty credit risfi)

205 771

26 835

205 544

211 664

27 599

210 296

2

Of which: Standardised Approach (SA)

58 240

7 595

60 804

64 032

8 349

65 669

3

Of which: foundation internal ratings-based (FIRB) approach

35 164

4 586

35 732

35 266

4 598

35 889

4

Of which: supervisory slotting approach

26 716

3 484

24 644

26 716

3 484

24 644

5

Of which: internal ratings-based (AIRB) approach

85 651

11 170

84 364

85 650

11 168

84 094

6

Counterparty credit risfi (CCR)

9 245

1 206

9 962

8 608

1 122

9 407

7

Of which: Standardised Approach for counterparty credit risk

9 245

1 206

9 962

8 608

1 122

9 407

8

Of which: IMM

-

-

-

-

-

-

9

Of which: other CCR

-

-

-

-

-

-

10

Credit valuation adjustment (CVA)(6)

6 012

784

6 520

5 246

684

5 897

11

Equity positions under the simple risfi weight approach and the Internal Model Method during the five-year linear phase-in period

10 582

1 380

10 973

9 883

1 289

10 237

12

Equity investments in funds - loofi-through approach

-

-

-

-

-

-

13

Equity investments in funds - mandate-based approach

4 774

623

4 232

4 774

623

4 232

14

Equity investments in funds - fall-bacfi approach

-

-

-

-

-

-

15

Settlement risfi

-

-

-

-

-

-

16

Securitisation exposures in banfiing boofi

3 326

433

3 034

3 326

433

2 971

17

Of which: securitisation IRB approach (SEC-IRBA)

1 606

209

1 688

1 606

209

1 688

18

Of which: securitisation external ratings-based approach (SEC-ERBA), including internal assessment approach (IAA)

-

-

-

-

-

-

19

Of which: Securitisation Standardised approach (SEC-SA)

1 720

224

1 346

1 720

224

1 283

20

Marfiet risfi(5)

13 140

1 714

12 994

6 212

810

6 397

21

Of which Standardised Approach (SA)

13 140

1 714

12 994

6 212

810

6 397

22

Of which internal model approach (IMA)

-

-

-

-

-

-

23

Capital charge for switch between trading boofi and banfiing boofi

-

-

-

-

-

-

24

Operational risfi(3)

40 871

5 330

40 871

33 831

4 411

33 831

25

Amounts below the thresholds for deduction (subject to 250% risfi weight)(4)

13 189

1 720

13 192

4 194

547

4 194

26

Output floor applied

65%

65%

65%

65%

27

Floor adjustment (before application of transitional cap)

43 328

5 650

44 047

46 061

6 006

47 117

28

Floor adjustment (after application of transitional cap)

8 461

1 103

9 064

11 963

1 560

12 940

29

Total

315 371

41 128

316 385

299 701

39 078

300 402

  1. MC - The minimum capital requirements in column (c) are based on the SARB minimum total capital requirements for Investec Limited of 13.0412% and Investec Bank Limited Group of 13.0391%; however, excludes Investec's Pillar 2B add-on.

  2. RWA - Risk-weighted assets are calculated according to the Basel framework, including the 1.06 scaling factor for equity exposures subject to the IRB approach, and as reported in accordance with the subsequent parts of this standard.

  3. 31 March 2026 operational risk capital is calculated using the NSA.

  4. The RWA in this line item relates to investments in significant financial entities and deferred tax assets below the 10% of the specified CET1 threshold.

  5. 31 March 2026 market risk is calculated using a new standardised calculation (FRTB-SA).

  6. 31 March 2026 CVA RWA was calculated using the BA-CVA approach.

    3

    OVERVIEW OF RISK MANAGEMENT, KEY PRUDENTIAL METRICS AND RWA CONTINUED

    Period under review- Investec Limited group

    Investec Limited remains well capitalised with capital ratios exceeding both regulatory minimums and internal targets. At 30 June 2026, the CET1 ratio increased to 14.2% from 13.6% at 31 March 2026. CET1 capital increased by R2.0 billion

    to R44.9 billion, largely affected by:

    • Positive attributable earnings post taxation and minorities of R2.2 billion for the quarter

    • An increase of R0.2bn in FVOCI reserves.

These increases in CET1 are offset by a decrease of R0.4 billion in the foreign currency translation reserve, owing to ZAR strengthening against USD.

RWAs decreased by R1.0bn from R316.4 billion (Mar 2026) to R315.4 billion (Jun 2026).

Credit risk RWAs, including counterparty credit risk (CCR) and credit valuation adjustment (CVA) and securitisation, decreased by R0.7 billion (0.3%), mainly driven by net book growth set off by FX movement and additional collateral.

Threshold items comprising deferred tax, investment in Bud and Investec Life remains unchanged from March 2026 to June 2026.

Effective 1 January 2026 the output floor increased from 60% to 65% in line with the prescribed phase in requirements. As at 30 June 2026 the output floor amounted to R8.5bn at an INL level.

Equity risk RWA increased by R0.2bn (1.0%) from R15.2bn (March 2026) to R15.4bn (June 2026). Market risk RWAs increased by R0.1 billion from R13.0bn (March 2026) to R13.1bn (June 2026).

Operational risk remains unchanged. This calculation is updated bi-annually in March and September and is based on the New Standardised Approach incorporates internal loss history and business indicators in the quantification of operational risk RWA.

The Group's leverage ratio increased to 6.2% (June 2026) from 6.1% (March 2026). Total Tier 1 capital increased by R1.6 billion and leverage exposure increased by R15.0 billion due to an increase in assets.

4

OVERVIEW OF RISK MANAGEMENT, KEY PRUDENTIAL METRICS AND RWA CONTINUED

‌KM1: KEY METRICS

The following section provides an overview of the key prudential regulatory metrics covering Investec Limited group's available capital and ratios, risk-weighted assets, leverage ratio, liquidity coverage ratio and net stable funding ratio of the Group's performance and trends over time:

R'million

a

b

c

d

e

30 June 2026

31 March

2026

31 December

2026

30 Sept 2025

30 June 2025

Available capital (amounts)

1 Common Equity Tier 1 (CET1)

44 918

42 910

41 500

42 791

44 807

2 Tier 1

50 145

48 587

47 150

47 941

48 757

3 Total capital

56 800

55 347

55 035

55 959

56 842

Risfi-weighted assets (amounts)

4 Total risk-weighted assets (RWA)(1)(4)

315 371

316 385

292 748

293 774

292 707

4a Total risk-weighted assets (pre-floor)(1)(5)

306 910

307 321

292 748

293 774

Risfi-based capital ratios as a percentage of RWA

5 CET1 ratio (%)

14.2

13.6

14.2

14.6

15.3

5a CET1 ratio (%) (pre-floor ratio)(5)

14.6

14.0

14.2

14.6

6 Tier 1 ratio (%)

15.9

15.4

16.1

16.3

16.7

6a Tier 1 ratio (%) (pre-floor ratio)(5)

16.3

15.8

16.1

16.3

7 Total capital ratio (%)

18.0

17.5

18.8

19.0

19.4

7a Total capital ratio (%) (pre-floor ratio)(5)

18.5

18.0

18.8

19.0

Additional CET1 buffer requirements as a percentage of RWA

8 Capital conservation buffer requirement (2.5% from 2019) (%)

2.5

2.5

2.5

2.5

2.5

9 Countercyclical buffer requirement (%)

1.0

1.0

0.2

0.2

0.2

10 Bank G-SIB and/or D-SIB additional requirements (%)

0.5

0.5

0.5

0.5

0.5

Total of bank CET1 specific buffer requirements (%) (row 8 + row 9 + row 11 10)

4.0

4.0

3.2

3.2

3.2

12 CET1 available after meeting the bank's minimum capital requirements (%)

5.2

4.5

6.0

6.4

7.1

Basel III leverage ratio

13 Total Basel III leverage ratio exposure measure

813 992

799 008

777 528

764 547

767 240

14 Basel III leverage ratio (%) (row 2/row 13)(2)

6.2

6.1

6.1

6.3

6.4

Basel III leverage ratio (%) (excluding the impact of any applicable 14a temporary exemption of central bank reserves)(5)

6.2

6.1

6.1

6.3

Basel III leverage ratio (%) (including the impact of any applicable temporary exemption of central bank reserves) incorporating mean values

14b for SFT assets(5)

6.2

6.1

6.1

6.3

Basel III leverage ratio (%) (excluding the impact of any applicable temporary exemption of central bank reserves) incorporating mean values

14c for SFT assets(5)

6.2

6.1

6.1

6.3

Liquidity Coverage Ratio

15 Total HQLA

154 416

140 335

143 813

126 264

136 967

16 Total net cash outflow

96 040

75 665

64 759

69 631

68 849

17 LCR ratio (%)(3)

161.4

185.7

224.3

181.5

199.2

Net Stable Funding Ratio

18 Total available stable funding

458 278

456 316

441 195

438 858

430 724

19 Total required stable funding

403 765

388 867

382 446

378 007

357 210

20 NSFR ratio

113.5

117.3

115.4

116.1

120.6

  1. Investec Limited uses the Internal Ratings Based (IRB) Approach to quantify credit RWAs. As at 30 June 2026, 49% (31 March 2026: 48%) of the portfolio applies the AIRB approach, 33% (31 March 2026: 34%) applies the FIRB approach, with the remaining balance of 18% (31 March 2026: 18%) remaining on the Standardised Approach.

  2. Investec Limited's capital information includes unappropriated profits. If unappropriated profits are excluded from capital information, Investec Limited's CET1 ratio would be 210bps lower (31 March 2026: 147bps lower) and the leverage ratio would be 83bps lower (31 March 2026: 58bps).

  3. The LCR ratio in row 17 is reported as the simple average of the daily LCR ratios over the quarter and is not derived as row 15 divided by row 16.

  4. RWA for comparative periods have not been restated for the March 2026 balance sheet restatements.

  5. Comparatives are not reported for new data points introduced with the adoption of Directive 10 of 2025.

    5

    OVERVIEW OF RISK MANAGEMENT, KEY PRUDENTIAL METRICS AND RWA CONTINUED

    ‌The following section provides an overview of the key prudential regulatory metrics covering Investec Bank Limited Group's available capital and ratios, risk-weighted assets, leverage ratio, liquidity coverage ratio and net stable funding ratio of the bank's performance and trends over time:

    R'million

    a

    b

    c

    d

    e

    30 June 2026

    31 March

    2026

    31 December

    2026

    30 Sept 2025

    30 June 2025

    Available capital (amounts)

    1 Common Equity Tier 1 (CET1)

    47 633

    46 030

    43 613

    46 490

    47 823

    2 Tier 1

    52 860

    51 707

    49 263

    51 640

    51 773

    3 Total capital

    59 516

    58 466

    57 148

    59 658

    59 858

    Risfi-weighted assets (amounts)

    4 Total risk-weighted assets (RWA)(1)(4)

    299 701

    300 402

    275 680

    276 711

    274 180

    4a Total risk-weighted assets (pre-floor)(1)(5)

    287 736

    287 463

    275 680

    276 711

    Risfi-based capital ratios as a percentage of RWA

    5 CET1 ratio (%)

    15.9

    15.3

    15.8

    16.8

    17.4

    5a CET1 ratio (%) (pre-floor ratio)(5)

    16.6

    16.0

    15.8

    16.8

    6 Tier 1 ratio (%)

    17.6

    17.2

    17.9

    18.7

    18.9

    6a Tier 1 ratio (%) (pre-floor ratio)(5)

    18.4

    18.0

    17.9

    18.7

    7 Total capital ratio (%)

    19.9

    19.5

    20.7

    21.6

    21.8

    7a Total capital ratio (%) (pre-floor ratio)(5)

    20.7

    20.3

    20.7

    21.6

    Additional CET1 buffer requirements as a percentage of RWA

    8 Capital conservation buffer requirement (2.5% from 2019) (%)

    2.5

    2.5

    2.5

    2.5

    2.5

    9 Countercyclical buffer requirement (%)

    1.0

    1.0

    0.2

    0.2

    0.2

    10 Bank G-SIB and/or D-SIB additional requirements (%)

    0.5

    0.5

    0.5

    0.5

    0.5

    Total of bank CET1 specific buffer requirements (%) (row 8 + row 9 + row 11 10)

    4.0

    4.0

    3.2

    3.2

    3.2

    12 CET1 available after meeting the bank's minimum capital requirements (%)

    6.9

    6.3

    7.7

    8.6

    9.3

    Basel III leverage ratio

    13 Total Basel III leverage ratio exposure measure

    802 607

    776 429

    761 760

    739 188

    736 566

    14 Basel III leverage ratio (%) (row 2/row 13)(2)

    6.6

    6.7

    6.5

    7.0

    7.0

    Basel III leverage ratio (%) (excluding the impact of any applicable 14a temporary exemption of central bank reserves)(5)

    6.6

    6.7

    6.5

    7.0

    Basel III leverage ratio (%) (including the impact of any applicable temporary exemption of central bank reserves) incorporating mean values

    14b for SFT assets(5)

    6.6

    6.7

    6.5

    7.0

    Basel III leverage ratio (%) (excluding the impact of any applicable temporary exemption of central bank reserves) incorporating mean values

    14c for SFT assets(5)

    6.6

    6.7

    6.5

    7.0

    Liquidity Coverage Ratio

    15 Total HQLA

    154 416

    140 335

    143 813

    126 264

    136 967

    16 Total net cash outflow

    96 040

    75 665

    64 759

    69 631

    68 849

    17 LCR ratio (%)(3)

    161.4

    185.7

    224.3

    181.5

    199.2

    Net Stable Funding Ratio

    18 Total available stable funding

    458 278

    456 316

    441 195

    438 858

    430 724

    19 Total required stable funding

    403 765

    388 867

    382 446

    378 007

    357 210

    20 NSFR ratio

    113.5

    117.3

    115.4

    116.1

    120.6

    1. Investec Bank Limited uses the Internal Ratings Based (IRB) Approach to quantify credit RWAs. As at 30 June 2026, 47% (31 March 2026: 47%) of the portfolio applies the AIRB approach, 32% (31 March 2026: 33%) applies the FIRB approach, with the remaining balance of 21% (31 March 2026: 20%) remaining on the Standardised Approach.

    2. Investec Bank Limited's capital information includes unappropriated profits at 30 June 2026. If unappropriated profits are excluded from capital information, Investec Bank Limited's CET1 ratio would be 127bps lower (March 2026: 66bps lower) and the leverage ratio would be 47bps lower (31 March 2026: 25bps).

    3. The LCR ratio in row 17 is reported as the simple average of the daily LCR ratios over the quarter and is not derived as row 15 divided by row 16.

    4. RWA for comparative periods have not been restated for the March 2026 balance sheet restatements.

    5. Comparatives are not reported for new data points introduced with the adoption of Directive 10 of 2025.

6

02 Investec Limited group and Investec Bank Limited group

Basel Pillar 3 disclosure quarterly report - June 2026

‌Leverage ratio

7



LEVERAGE RATIO

‌LR1 - SUMMARY COMPARISON OF ACCOUNTING ASSETS VS LEVERAGE RATIO EXPOSURE MEASURE

The purpose of the LR1 table below is to reconcile the total assets in the published financial statements to the leverage ratio exposure measure. The format of the LR1 template was revised following the adoption of Directive 10 of 2025 (the Directive).

a a Investec Limited Group Investec Banfi Limited Group

R'million

30 June 2026

31 March

2026

30 June 2026

31 March

2026

1

Total consolidated assets as per published financial statements(1)

741 966

731 975

713 553

693 319

2

Adjustment for investments in banking, financial, insurance or commercial entities that are

consolidated for accounting purposes but outside the scope of regulatory consolidation(2)

(7 681)

(7 681)

-

-

3

Adjustment for securitised exposures that meet the operational requirements for the recognition

of risk transference

(5 954)

(5 973)

(5 954)

(5 973)

4

Adjustments for temporary exemption of central bank reserves (if applicable)

-

-

-

-

5

Adjustment for fiduciary assets recognised on the balance sheet pursuant to the operative accounting framework but excluded from the

leverage ratio exposure measure

-

-

-

-

6

Adjustment for regular-way purchases and sales of financial assets subject to trade date

accounting

(4 936)

(3 833)

-

-

7

Adjustment for eligible cash pooling transactions

-

-

-

-

8

Adjustments for derivative financial instruments

14 716

13 664

15 306

13 794

9

Adjustments for securities financing transactions (i.e. repos and similar secured lending)

13 325

11 761

8 017

7 156

10

Adjustment for off-balance sheet items (i.e. conversion to credit equivalent amounts of off-

balance sheet exposures)

76 050

72 329

76 053

72 336

11

Adjustment for prudent valuation adjustments and specific and general provisions which have

reduced Tier 1 capital

(3 922)

(3 836)

(3 877)

(3 791)

12

Other adjustments(3)

(9 572)

(9 398)

(491)

(412)

13

Leverage ratio exposure measure

813 992

799 008

802 607

776 429

  1. Adjusted for impairments.

  2. Relates to INL's investment in Investec Life, which is deconsolidated for regulatory purposes.

  3. Relates primarily to INL's investment in Investec Plc ordinary shares acquired as part of the DLC's historic share buy-back program

8

LEVERAGE RATIO CONTINUED

‌LR2: LEVERAGE RATIO COMMON DISCLOSURE TEMPLATE

The purpose of the LR2 table below is to provide a detailed breakdown of the components of the leverage ratio denominator. The format of the LR2 template was revised following the adoption of Directive 10 of 2025 (the Directive).

R'million

a

b

a

b

Investec Limited Group(2)

Investec Banfi Limited Group(2)

30 June 2026

31 March

2026

30 June 2026

31 March

2026

On-balance sheet exposures

  1. On-balance sheet exposures (excluding derivatives and securities financing transactions (SFTs), but including collateral)(1)

  2. Gross-up for derivatives collateral provided where deducted from the balance sheet assets pursuant to the operative accounting framework

  3. (Deductions of receivables assets for cash variation margin provided in derivatives transactions)

  4. (Adjustment for securities received under securities financing transactions that are recognised as an asset)

  5. (Specific and general provisions associated with on-balance sheet exposures that are deducted from Tier 1 capital)

  6. (Asset amounts deducted in determining Tier 1 capital and regulatory adjustments)

  7. Total on-balance sheet exposures (excluding derivatives and SFTs) (sum of rows 1 to 6)

    Derivative exposures

  8. Replacement cost associated with all derivatives transactions (where applicable net of eligible cash variation margin, with bilateral netting and/or the specific treatment for client cleared derivatives)

  9. Add-on amounts for potential future exposure (PFE) associated with all derivatives transactions

  10. (Exempted central counterparty (CCP) leg of client-cleared trade exposures)

  11. Adjusted effective notional amount of written credit derivatives

  12. (Adjusted effective notional offsets and add-on deductions for written credit derivatives)

  13. Total derivative exposures (sum of rows 8 to 12) Securities financing transaction exposures

  14. Gross SFT assets (with no recognition of netting), after adjusting for sale accounting transactions(3)

  15. (Netted amounts of cash payables and cash receivables of gross SFT assets)

  16. Counterparty credit risk exposure for SFT assets

  17. Agent transaction exposures

  18. Total securities financing transaction exposures (sum of rows 14 to 17)

    Other off-balance sheet exposures

  19. Off-balance sheet exposure at gross notional amount

18 (Adjustments for conversion to credit equivalent amounts)

  1. (Specific and general provisions associated with off-balance sheet exposures deducted in determining Tier 1 capital)(4)

  2. Off-balance sheet items (sum of rows 19 and 21) Capital and total exposures

  3. Tier 1 capital(1)

  4. Total exposures (sum of rows 7, 13, 18 and 22) Leverage ratio

  5. Leverage ratio (including the impact of any applicable temporary exemption of central banfi reserves)(1)

    25a Leverage ratio (excluding the impact of any applicable temporary exemption of central banfi reserves)

  6. National minimum ratio requirement

  7. Applicable leverage buffers

636 606

632 438

620 781

605 108

-

-

-

-

(2 210)

(1 582)

(2 210)

(1 582)

-

-

-

-

(3 729)

(3 596)

(3 733)

(3 599)

(9 766)

(9 638)

(635)

(601)

620 901

617 622

614 203

599 326

8 442

9 094

8 899

9 365

15 505

15 241

15 733

15 285

-

(233)

-

(233)

22 149

19 338

22 149

19 338

(11 932)

(12 115)

(11 933)

(12 115)

34 164

31 325

34 848

31 640

75 204

68 614

69 830

64 008

-

(991)

-

(991)

7 673

10 109

7 673

10 110

-

-

-

-

82 877

77 732

77 503

73 127

170 835

162 909

170 836

162 919

(94 785)

(90 580)

(94 783)

(90 583)

-

-

-

-

76 050

72 329

76 053

72 336

50 145

48 587

52 860

51 707

813 992

799 008

802 607

776 429

6.2

6.1

6.6

6.7

6.2

6.1

6.6

6.7

4.0

4.0

4.0

4.0

0.25

0.25

0.25

0.25

9

LEVERAGE RATIO CONTINUED

R'million

a

b

a

b

Investec Limited Group(2)

Investec Banfi Limited Group(2)

30 June 2026

31 March

2026

30 June 2026

31 March

2026

Disclosure of mean values

  1. Mean value of gross SFT assets, after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash receivables

  2. Quarter-end value of gross SFT assets, after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash receivables

75 204

69 552

67 623

64 980

69 830

69 486

63 018

64 980

  1. Total exposures (including the impact of any applicable temporary exemption of central bank reserves) incorporating mean values from row 28 of gross SFT assets (after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash receivables)

    30a Total exposures (excluding the impact of any applicable temporary exemption of central bank reserves) incorporating mean values from row 28 of gross SFT assets (after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash receivables)

  2. Basel III leverage ratio (including the impact of any applicable temporary exemption of central bank reserves) incorporating mean values from row 28 of gross SFT assets (after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash receivables)

  3. Basel III leverage ratio (excluding the impact of any applicable temporary exemption of central bank reserves) incorporating mean values from row 28 of gross SFT assets (after adjustment for sale accounting transactions and netted of amounts of associated cash payables and cash receivables)

813 992

808 340

6.2

6.2

799 008

796 365

6.1

6.1

802 607

802 263

6.6

6.6

776 429

778 392

6.7

6.6

  1. After accounting for the adjustments reported on lines 2-7 of LR1

  2. Investec Limited's and IBL's capital information includes unappropriated profits. If unappropriated profits are excluded from capital information, Investec Limited's and IBL's leverage would be 83bps (31 March 2026: 58bps) and 47bps (31 March 2026: 25bps) lower respectively.

  3. Represents the daily average of the reporting quarter, as stipulated in Directive 10 of 2025.

  4. Included in the value reported on line 6 as provisions are not separated between on- and off-balance sheet amounts.

10

03 Investec Limited group and Investec Bank Limited group

Basel Pillar 3 disclosure quarterly report - June 2026

‌Liquidity risk

11



LIQUIDITY RISK

‌LIQUIDITY COVERAGE RATIO (LCR)

‌The purpose of the LIQ1 table below is to present the breakdown of a bank's cash outflows and cash inflows, as well as its available high-quality liquid assets (HQLA), as measured and defined according to the LCR standard.

LIQ1: LIQUIDITY COVERAGE RATIO (LCR)

R'million

a

b

a

b

30 June 2026

31 March 2026

Total unweighted

value (average)

Total weighted

value (average)

Total unweighted

value (average)

Total weighted

value (average)

High-quality liquid assets (HQLAs)

1 Total HQLAs

154 416

140 335

Cash outflows

2 Retail deposits and deposits from small business customers, of which:

167 842

13 224

161 245

12 785

3 Stable deposits

26 253

1 313

24 822

1 241

4 Less stable deposits

141 589

11 911

136 423

11 544

5 Unsecured wholesale funding, of which:

162 363

119 968

142 971

106 138

6 Operational deposits (all counterparties) and deposits in networks of cooperative banks

20

20

3

3

7 Non-operational deposits (all counterparties)

160 799

118 404

141 311

104 478

8 Unsecured debt

1 544

1 544

1 657

1 657

9 Secured wholesale funding

-

3 705

-

3 764

10 Additional requirements, of which:

118 758

21 805

110 499

19 012

11 Outflows related to derivative exposures and other collateral requirements

14 354

9 691

13 517

7 670

12 Outflows related to loss of funding on debt products

-

-

-

-

13 Credit and liquidity facilities

104 404

12 114

96 982

11 342

14 Other contractual funding obligations

434

434

482

482

15 Other contingent funding obligations

128 196

7 389

131 320

7 658

16 Total cash outflows

166 525

149 839

Cash inflows

17 Secured lending

46 320

17 867

44 120

19 113

18 Inflows from fully performing exposures

51 566

45 379

53 070

46 388

19 Other cash inflows

13 729

7 239

13 150

8 704

20 Total cash inflow

111 615

70 485

110 340

74 205

Total adjusted value

Total adjusted value

21 Total HQLAs

154 416

140 335

22 Total net cash outflows

96 040

75 665

23

Liquidity coverage ratio (%)(1)

161.4

185.7

  1. The LCR ratio in row 23 is reported as the simple average of the daily LCR ratios over the quarter and is not derived as row 21 divided by row 22.

    12

    LIQUIDITY RISK CONTINUED

    LIQUIDITY COVERAGE RATIO (LCR)

    The objective of the LCR is to promote the short-term resilience of the liquidity risk profile of banks by ensuring that they have sufficient HQLAs to survive a significant stress scenario lasting 30 calendar days. The values in the table are calculated as the simple average of the 91 calendar daily values over the period 1 April 2026 to 30 June 2026.

    The minimum LCR requirement is 100%. Key LCR principles:

    • We remain fully compliant with regulatory requirements, and above the target set by the Board

    • The structure and nature of deposits inside the 30-day window is the key driver of both the level and the volatility of the LCR. The weighted outflow is determined by the customer type of liabilities falling into the 30-day contractual bucket. In turn, these deposit characteristics determine the targeted level of HQLAs required to be held as a counterbalance to the modelled stressed outflows

    • Only banking and/or deposit-taking entities are included, and the Group data represents an aggregation of the relevant individual net cash outflows and the individual HQLA portfolios.

      The composition of HQLAs:

    • HQLAs comprise primarily South African sovereign and central bank Rand-denominated securities and debt instruments, which are eligible for South African Reserve Bank (SARB) repos.

    • On average, Level 2 assets contributed 2% of total HQLAs.

    • Some foreign-denominated government securities are included in the HQLAs, subject to regulatory limitations.

13

04 Investec Limited group and Investec Bank Limited group

Basel Pillar 3 disclosure quarterly report - June 2026

‌Credit risk

14



04 Investec Limited group and Investec Bank Limited group

Basel Pillar 3 disclosure quarterly report - June 2026

CREDIT RISK CONTINUED

‌CR8: RWA FLOW STATEMENTS OF CREDIT RISK EXPOSURES UNDER IRB

The purpose of this table is to present a flow statement explaining variations in the credit RWAs determined under the IRB approach.

R'million

a

a

a

a

a

30 June 2026

31 March

2026

31 December

2026

30 Sept 2025

30 June 2025

1

RWA as at end of previous reporting period(1)

144 740

140 871

138 885

135 297

133 051

2

Asset size

819

4 640

1 548

4 012

2 737

3

Asset quality

1 865

(1 132)

327

(3 044)

(488)

4

Model updates

-

-

-

-

-

5

Methodology and policy(2)

-

-

-

2 036

-

6

Acquisitions and disposals

-

-

-

-

-

7

Foreign exchange movements

(833)

452

(683)

(586)

67

8

Other(3)

940

(91)

794

1 170

(70)

9

RWA as at end of reporting period

147 531

144 740

140 871

138 885

135 297

  1. The table above includes slotting exposures, but excludes risk-weighted asset movements related to CCR and CVA exposures.

  2. 30 September 2025 movement relates to the adoption of Basel 3.1 related changes, most notably the net impact of the migration of large corporates and non-bank financial institutions from the Advanced Internal Rating Based (IRB) approach to the Foundation IRB approach, the introduction of new PD and LGD floors and the removal of the regulatory 6% scaler in the IRB risk weight function.

  3. Other represents movements not related to any of the specified rows above, such as changes in RWAs due to changes in LGD percentages or maturity factor changes.

15

05 Investec Limited group and Investec Bank Limited group

Basel Pillar 3 disclosure quarterly report - June 2026

‌Comparison of Modelled and Standardised RWA at Risk Level

16



05 Investec Limited group and Investec Bank Limited group

Basel Pillar 3 disclosure quarterly report - June 2026

COMPARISON OF MODELLED AND STANDARDISED RWA

‌CMS1 - COMPARISON OF MODELLED AND STANDARDISED RWA AT RISK LEVEL

The purpose of the table below is to compare full standardised RWA against modelled RWA that banks have supervisory approval to use in accordance with the finalised Basel III framework. The disclosure also provides the full standardised RWA amount to which the output floor in the Basel Framework is applied.

The output floor limits banks' RWA benefit from internal modelling to an eventual 72.5% of non-modelled RWAs once fully phased-in. As at 30 September 2025 the output floor phase-in percentage was 60% increasing to 65% from 1 January 2026, then 70% from 1 January 2027 and finally 72.5% from 1 January 2028.

R'million

a

b

c

d

Investec Limited - RWA

RWA for modelled approaches that

banfis have supervisory approval to use

RWA for portfolios where Standardised Approaches are

used

Total actual RWA (a+b) (i.e. RWA which banfis report

as current requirement

RWA calculated

using full Standardised Approach (i.e. RWA used in capital floor

computation)

At 30 June 2026

1 Credit risk (excluding counterparty credit risk)

147 531

73 596

221 127

386 470

2 Counterparty credit risk

2 473

6 772

9 245

11 770

3 Credit valuation adjustment

6 012

6 012

6 012

4 Securitisation exposures in the banking book

1 606

1 720

3 326

6 632

5 Market risk

-

13 140

13 140

13 140

6 Operational risk

40 871

40 871

40 871

7 Residual risk

13 189

13 189

13 189

9

Total

151 610

155 300

306 910

478 084

At 31 March 2026

1 Credit risk (excluding counterparty credit risk)

144 740

76 009

220 749

384 144

2 Counterparty credit risk

2 711

7 251

9 962

15 576

3 Credit valuation adjustment

6 520

6 520

6 520

4 Securitisation exposures in the banking book

1 688

1 346

3 034

6 347

5 Market risk

-

12 994

12 994

12 994

6 Operational risk

40 871

40 871

40 871

7 Residual risk

13 191

13 191

13 191

9 Total

149 139

158 182

307 321

479 644

17

‌





Company analysis

Earlier from Investec

All Investec news releases