Dealings in securities by a director DISCOVERY LIMITED (Incorporated in the Republic of South Africa) (Registration number 1999/007789/06) JSE share code: DSY ISIN: ZAE000022331 (“Discovery”) DEALINGS IN SECURITIES BY A DIRECTOR In compliance with the JSE Limited Listings Requirements, the following information is disclosed: Mr Herschel Mayers has entered into a series of hedging transactions (“transactions”) over a portion of his shareholding in Discovery. The transactions have been entered into as part of an equity funding arrangement with a financial institution, which consists of a loan agreement securitised by simultaneous put derivative hedges. Director : Mr Herschel Mayers Company : Discovery Limited Date of transactions : 13 March 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 physically-settled European put options with a strike price of R 102.24 per share Expiry Date : 4 March 2022 Number of options : 1,044,563 Reference Price per share : R 146.0500 Notional value of transaction : R 106,796,121.12 Transaction 2 Nature of transaction : Purchase of physically-settled European put options with a strike price of R 102.24 per share Expiry Date : 13 April 2022 Number of options : 1,050,648 Reference Price per share : R 146.0500 Notional value of transaction : R 107,418,251.52 Transaction 3 Nature of transaction : Purchase of physically-settled European put options with a strike price of R 102.24 per share Expiry Date : 13 May 2022 Number of options : 1,053,484 Reference Price per share : R 146.0500 Notional value of transaction : R 107,708,204.16 Transaction 4 Nature of transaction : Purchase of physically-settled European put options with a strike price of R 102.24 per share Expiry Date : 13 June 2022 Number of options : 1,056,312 Reference Price per share : R 146.0500 Notional value of transaction : R 107,997,338.88 Sandton 15 March 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 15/03/2019 03:53:00 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.