DISCOVERY LIMITED - Trading statement

Trading statement

DISCOVERY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
("Discovery" or "the Company")

TRADING STATEMENT

Discovery is currently finalising its results for the year ended 30 June 2013 (“current period”), which
will be released on SENS on 03 September 2013.

Shareholders are advised that normalised headline earnings per share are expected to be between
15% and 25% higher than that of the corresponding period. In the current period, Discovery has
continued, as in prior periods, to focus on the progression of normalised headline earnings that
excludes the accounting impact of the Standard Life Healthcare acquisition, the recapture of
reinsurance and the accounting for the puttable non-controlling interest financial liability.
Management is of the view that this best represents the underlying operating performance.

As a result of the accounting for the recapture of reinsurance and the increase in the fair value of
puttable non-controlling interest financial liability, shareholders are advised that headline earnings
per share are expected to be between %0 and 10% lower than that of the corresponding reporting
period of the previous year (“corresponding period”), while earnings per share are expected to be
between 0% and 10% lower than the corresponding period.

The financial information on which this trading statement is based has not been reviewed and
reported on by the Company`s external auditors.

Sandton
28 August 2013

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

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