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Dealings in securities
DISCOVERY LIMITED
(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
Bond company code: DSYI
("Discovery" or the “Company”)
Dealings in securities
In compliance with paragraphs 6.77 to 6.90 of the JSE Limited ("JSE") Listings Requirements and
paragraphs 6.45 to 6.56 of the JSE Debt and Specialist Securities Listings Requirements, shareholders
and noteholders are advised of dealings in securities by directors, the company secretary and a
prescribed officer of the Company as well as directors of major subsidiaries.
The sales transactions below occurred in terms of the Discovery Long-Term Incentive Plan (“LTIP”) and
the Discovery BEE Employee Share Trust (“BEE Share Trust”), under which share awards were granted
and accepted in prior years and vested on 30 September 2026. The sales transactions occurred on
market following the vesting of these awards. At vesting, participants either elect to i) retain all shares
and fund their own tax obligation, ii) sell a portion of shares to fund tax obligations or iii) also sell
vested shares. The disclosure below covers dealings in respect of sales. The transactions have been
executed by the administrators of the LTIP and BEE Share Trust on behalf of all participants.
Class of securities : Ordinary shares
Nature of transaction : Sale of ordinary shares
Nature and extent of all interests : Direct beneficial
Date of sale on behalf of participants : 23 September to 30 September 2026
Weighted average sale price per share : R261.939*
Highest price per share : R267.02
Lowest price per share : R259.65
*Weighted average price of bulk sale for all participants.
Director : Mr Adrian Gore
Company : Discovery
Office held : Executive Director
Number of shares sold : 75 084
Value of sale transaction : R19 667 427.88
Director : Mr Barry Swartzberg
Company : Discovery
Office held : Executive Director
Number of shares sold to cover tax obligation : 25 590
Value of sale transaction : R6 703 019.01
Director : Mr Deon Marius Viljoen
Company : Discovery
Office held : Executive Director
Number of shares sold to cover tax obligation : 26 020
Value of sale transaction : R6 815 652.78
Prescribed Officer : Mr Hylton David Kallner
Company : Discovery
Office held : Prescribed officer
Number of shares sold : 182 508
Value of sale transaction : R47 805 963.01
Director : Mr Kenneth Steven Rabson
Major Subsidiary Company : Discovery Life Limited (“Discovery Life”)
Office held : Executive director
Number of shares sold : 63 962
Value of sale transaction : R16 754 142.32
Director : Ms Nonkululeko Pitje
Major Subsidiary Companies : Discovery Life
Office held : Executive director
Number of shares sold to cover tax obligation : 13 177
Value of sale transaction : R3 451 570.20
Director : Mr Riaan Johannes Van Reenen
Major Subsidiary Company : Discovery Life
Office held : Executive director
Number of shares sold : 52 226
Value of sale transaction : R13 680 026.21
Director : Mr Stuart Alexander Cohen
Major Subsidiary Company : Discovery Life
Office held : Executive director
Number of shares sold to cover tax obligation : 8 594
Value of sale transaction : R2 251 103.77
Group Company Secretary : Ms Ayanda Cleopatra Ceba
Company : Discovery
Number of shares sold to cover tax obligation : 3 063
Value of sale transaction : R802 319.16
Shareholders and noteholders are further advised that the Discovery Long-Term Incentive Plan Trust
("LTIP Trust") acquired ordinary shares in Discovery in off-market transactions pursuant to the vesting
of awards under the LTIP on 30 September 2026.
The acquisitions were undertaken by the LTIP Trust in accordance with the trust deed governing the
LTIP Trust and formed part of the process whereby the LTIP Trust determined its net share position to
satisfy future obligations under the LTIP. The shares were acquired from participants who elected to
sell vested shares following vesting.
Class of securities : Ordinary shares
Nature of transaction : Off-market purchase of ordinary shares, at
prevailing market prices
Date of transaction : 23 September to 30 September 2026
Average purchase price per share : R261.794
Number of shares acquired : 2 045 458
Value of transaction : R535 488 631.65
The necessary clearances have been obtained for these transactions.
1 October 2026
Sandton
Equity and Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 01/10/2026 04:32:00
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