DISCOVERY LIMITED - Dealings in securities by a director

Dealings in securities by a director

DISCOVERY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/007789/06)
Legal Entity Identifier: 378900245A26169C8132
JSE share code: DSY, DSBP
DSY ISIN: ZAE000022331
DSBP ISIN: ZAE000158564
JSE bond company code: DSYI
("Discovery")

DEALINGS IN SECURITIES BY A DIRECTOR

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited ("JSE") Listings Requirements and paragraphs 6.45
to 6.56 of the JSE Debt and Specialist Securities Listings Requirements, the following information is disclosed.

Shareholders and noteholders are referred to the announcement released on the Stock Exchange News Service
of the JSE on 30 May 2024 which, in turn, referred to a prior announcement, dated 23 November 2022, regarding
hedging transactions entered into by Mr Barry Swartzberg over a portion of his shareholding in Discovery. These
hedging transactions were related to funding arrangements entered into in order to follow various rights offers
and subscriptions for Discovery shares over time.

The collar arrangement forming part of the hedging transactions, which included call options on the shares, has
now reached maturity. The current Discovery share price at the collar's maturity is higher than the strike price
on the call options, leading to the sale of shares. Importantly, these sales pertain solely to a subset of Mr
Swartzberg's shareholding subject to the collar arrangement.


 Director                                           :    Mr Barry Swartzberg
 Company                                            :    Discovery Limited
 Office held                                        :    Executive Director: Discovery
 Nature of interest                                 :    Indirect beneficial
 Nature of transaction                              :    Sale of securities
 Clearance obtained                                 :    Yes
 Class of securities                                :    Ordinary shares
 On market/off market                               :    On market

Transaction 1
 Date of transaction                                :    30 May 2025
 Number of shares                                   :    85,000
 Selling price per share                            :    ZAR 218.08
 Total value of transaction                         :    ZAR 18,536,800.00

Transaction 2
 Date of transaction                                :    02 June 2025
 Number of shares                                   :    85,000
 Selling price per share                            :    ZAR 220.50
 Total value of transaction                         :    ZAR 18,742,500.00

Transaction 3
 Date of transaction                                :    03 June 2025
 Number of shares                                   :    85,000
 Selling price per share                            :    ZAR 221.89
 Total value of transaction                         :    ZAR 18,860,650.00

Transaction 4
 Date of transaction                             :    04 June 2025
 Number of shares                                :    85,000
 Selling price per share                         :    ZAR 221.55
 Total value of transaction                      :    ZAR 18,831,750.00

Sandton
05 June 2025

Equity and Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 05-06-2025 01:40:00
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