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DISCOVERY LIMITED - Change in executive responsibilities of director

Release Date: 29/01/2020 17:06
Code(s): DSY DSBP DSY03 DSY01 DSY04 DSY02 DSY05     PDF:  
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Change in executive responsibilities of director

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


In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders are advised
of the following change in executive director responsibilities at Discovery.

Hylton Kallner as CEO of Discovery’s South African operations
Mr Kallner, the current CEO of Discovery Life, will assume the role of CEO of Discovery’s South African
operations. In the role, Mr Kallner will lead the composite strategy for Health, Life, Invest, Insure, and
Vitality entities, and will oversee their integration with Vitality and Discovery Bank. Mr Kallner will continue
to chair the SA EXCO, as the core governance forum of the SA composite. Given the strategic importance of
Discovery Bank, it will continue to report to the Group CEO.

As a result of the above change in executive responsibilities of Mr Kallner, the following voluntary disclosure
is made.

Riaan van Reenen as CEO of Discovery Life
Mr van Reenen, the current Discovery Life Limited Chief Actuary, will assume the role of CEO and Director of
Discovery Life, subject to regulatory approval. Given his leadership in the development of Discovery Life’s
shared-value business model, Mr van Reenen has played a fundamental role in the business’s growth from
start-up to the market leader in terms of new business market share and impact. Mr van Reenen has led the
Discovery Life actuarial valuations team since its inception; he has also led the establishment of the actuarial
functions for Group Risk, Discovery Invest and Vitality Life in the UK.

These appointments are seen as an important step to create necessary focus to achieve the Group’s

29 January 2020

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 29-01-2020 05:06:00
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