Amendment to rate applicable to Dividend Witholding Tax and impact on cash dividend declaration DISCOVERY LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1999/007789/06) (Income Tax number: 9652/003/71/7) ISIN: ZAE000022331 and ZAE000158564 Share Code: DSY and DSBP Share Code: DSY ("the Company") AMENDMENT TO RATE APPLICABLE TO DIVIDEND WITHOLDING TAX AND IMPACT ON CASH DIVIDEND DECLARATION Shareholders are referred to the announcements released on the Stock Exchange News Service on 16 February 2017 and 23 February 2017 in which they were advised, inter alia, that the board of directors had resolved to declare interim gross cash dividends of: - 529.31507 cents (449.91781 cents net of dividend withholding tax) per B preference share for the period 1 July 2016 to 31 December 2016 to shareholders recorded in the register of the Company on 10 March 2017; and - 88 cents (74.8 cents net of dividend withholding tax) per ordinary share to shareholders recorded in the register of the Company on 17 March 2017; collectively, "Announcements"). Shareholders are now advised that, consequent to the announcement by Minister Gordhan of an increase in the dividend withholding tax ("DWT") rate from 15% to 20%, in his budget speech of 22 February 2017, the DWT applicable to the gross cash dividends to be paid to shareholders who are not exempt from DWT is 20%. The net dividend amounts are accordingly: - 423.45206 cents per B preference share and not 449.91781 cents as previously announced; and - 70.4 cents per ordinary share and not 74.8 cents as previously announced. The remainder of the Announcements are unaffected. Sandton 24 February 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 24/02/2017 03:48:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.