DISCOVERY LIMITED - Dealings in securities by a director of the company

Dealings in securities by a director of the company

Discovery Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/007789/06
Share code: DSY
ISIN: ZAE000022331
(“Discovery” or “Company”)

DEALINGS IN SECURITIES BY A DIRECTOR OF THE COMPANY

In compliance with the JSE Limited Listings Requirements, the
following information is disclosed:

Shareholders are reminded of the hedging transaction Mr. Koopowitz
entered into over a portion of his holdings in Discovery shares,
which was announced on the Stock Exchange News Service (“SENS”) on
21 September 2015.

Director                         :   Neville Koopowitz
Date of transaction              :   17 September 2015
Class of shares                  :   Options over Discovery ordinary
                                        shares
Nature of   interest             :   Indirect beneficial
Nature of   transaction          :   Zero-cost collar options
Number of   options              :   200,000
Clearance   obtained             :   Yes

Number of   Expiry      Duration    Reference   Put      Put       Call     Call
Options                             price       Strike   Value     Strike   Value
                                                (%)*               (%)*

200,000     16-Sep-17   24 months   R137.64     75.00    R103.23   145.60   R200.40

*Percentage of spot reference price



Shareholders are now advised that the above zero cost collar was
settled by the counterparty, with no discretion exercised by Mr
Koopowitz, as follows:

Date of transaction              :   18 September 2017
Class of shares                  :   Discovery ordinary shares
Nature of interest               :   Direct beneficial
Nature of transaction            :   On-market sale of shares
Number of shares                 :   140,760
Volume   weighted   average      :   R146.67672
selling price
Highest traded price             :   R147.40
Lowest traded price              :   R145.50
Total value of transaction       :   R20,646,215.11
Clearance obtained               :   Yes


Sandton
21 September 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 21/09/2017 09:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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