Acceptance of awards in terms of long-term incentive plans 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 JSE bond code: DSYI ("Company" or "Group" or "Discovery") ACCEPTANCE OF ANNUAL SHARES AWARDED IN TERMS OF THE DISCOVERY LONG-TERM INCENTIVE PLAN AND ONCE-OFF AWARDS IN TERMS OF THE DISCOVERY RETENTION LONG- TERM INCENTIVE PLAN (“LTIPs”) In compliance with the JSE Limited Listings Requirements, notification is hereby given that certain executive directors of the Company and directors of major subsidiaries have accepted annual awards of ordinary shares allocated in terms of the Discovery long-term incentive plan (“LTIP”), an equity-settled LTIP. These share awards are subject to vesting conditions that include performance criteria that are aligned to the organic growth methodology of the Group as outlined in the Company’s remuneration report and vest equally from the 3rd to the 5th anniversaries of these awards (between 30 September 2023 and 30 September 2025), provided the necessary vesting criteria have been achieved. As outlined in the Company’s remuneration report, the Remuneration Committee of Discovery is also reviewing the Company’s long-term incentive structures at all levels of management to mitigate the emerging retention risks as a result of the impact of the recent economic slowdown and the impact of COVID-19 on the compound performance outcomes for vesting of LTIPs. Following the above review, the Remuneration Committee recently approved a retention scheme which includes the allocation of once-off equity settled ordinary share awards. The vesting of these shares is over three years on 30 September 2023 and is similarly subject to compound performance conditions currently aligned to the organic growth methodology of the Group and also subject to certain maximum vesting limitations depending on the outcome of existing LTIP allocations in issue. The nature of the interest in respect of each of these awards is direct beneficial, subject to meeting the vesting performance criteria. The transactions have occurred off-market and the necessary clearances have been obtained. The combined allocations accepted, which reflect the maximum that can vest depending on performance conditions, are set out below: Executive Acceptance date Number of Reference Deemed director shares price* transaction accepted value A Gore 29 October 2020 100,141 125.58 R12,575,707 D M Viljoen 29 October 2020 68,902 125.58 R8,652,713 H D Kallner 23 October 2020 145,737 125.58 R18,301,652 A Ntsaluba 23 October 2020 59,135 125.58 R7,426,173 A Pollard 23 October 2020 25,507 125.58 R3,203,169 B Swartzberg 23 October 2020 34,877 125.58 R4,379,854 Director of Subsidiary Acceptance Number of Reference Deemed major date shares price* transaction subsidiary accepted value J Broomberg Discovery 29 October 22,557 125.58 R2,832,708 Health 2020 K S Rabson Discovery Life 29 October 41,168 125.58 R5,169,877 2020 R J van Discovery Life 29 October 37,145 125.58 R4,664,669 Reenen 2020 *The reference price has been used in determining the share allocations and represents the volume weighted average traded price of the Company's shares for the 5 days ended 30 September 2020. Sandton 29 October 2020 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 29-10-2020 05:40:00 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.