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)
JSE share code: DSY, DSBP
DSY ISIN: ZAE000022331
DSBP ISIN: ZAE000158564
JSE bond code: DSYI
(“Discovery”)

DEALINGS IN SECURITIES BY A DIRECTOR

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

As part of consolidating his existing funding arrangements, Mr Adrian Gore has entered into a series of hedging
transactions over a portion of his shareholding in Discovery.

Director                                           :    Mr Adrian Gore
Company                                            :    Discovery Limited
Date of transactions                               :    30 May 2019
Class of securities                                :    Options over Discovery ordinary shares
Nature of interest                                 :    Indirect beneficial
On market / off market                             :    Off-market
Clearance obtained                                 :    Yes

Transaction 1
Nature of transaction                              :    Purchase of cash-settled European put options with a strike
                                                        price of R 106.4175 per share
Exercise dates                                     :    Every day from 3 November 2023 to 30 November 2023 (20
                                                        equally weighted tranches)
Number of options                                  :    3,900,000
Initial price per share                            :    R141.89
Notional value of transaction                      :    R415,028,250.00

Transaction 2
Nature of transaction                              :    Sale of cash-settled European call options with a strike price
                                                        of R 248.3075 per share
Exercise dates                                     :    Every day from 3 November 2023 to 30 November 2023 (20
                                                        equally weighted tranches)
Number of options                                  :    1,950,000
Initial price per share                            :    R141.89
Notional value of transaction                      :    R484,199,625.00

Sandton
31 May 2019

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

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