Disclosure of acquisition and disposal of Discovery securities DISCOVERY LIMITED (Incorporated in the Republic of South Africa) (Registration number 1999/007789/06) Ordinary share code: DSY and ISIN ZAE000022331 Preference share code: DSBP and ISIN: ZAE000158564 JSE bond company code: DSYI (“Discovery” or “the Company”) DISCLOSURE OF ACQUISITION AND DISPOSAL OF DISCOVERY SECURITIES Shareholders are referred to the announcement released by Rand Merchant Investment Holdings Limited (“RMI”) on the Stock Exchange News Service, simultaneously with this announcement. In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 (“the Act”) and paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised as follows: - RMI has, on 29 June 2018, notified the Company that it has decreased its beneficial interest in the Company from 25.036% to 0% in terms of an internal group restructure; and - RMI Asset Holdings Proprietary Limited, a wholly-owned subsidiary of RMI has, on 29 June 2018, notified the Company that it has acquired a 25.036% beneficial interest in the Company from RMI. As required in terms of section 122(3)(a) of the Act, Discovery has filed the required notices with the Takeover Regulation Panel. Sandton 3 July 2018 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/07/2018 10:30:00 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.