DISCOVERY LIMITED - DSY DSBP DSYI - Credit Ratings Change Notification

DSY DSBP DSYI - Credit Ratings Change Notification

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

CREDIT RATINGS CHANGE NOTIFICATION

Noteholders and shareholders are referred to the Moody's Investor Service ("Moody's") press release
dated 18 November 2024. Moody's affirmed the Ba3 global scale long-term issuer rating and upgraded,
to Aa3.za from A1.za, the national scale long-term issuer rating of Discovery with the outlook remaining
stable.

Moody's noted: "The upgrade of Discovery's national scale long-term issuer rating reflects reduced
execution risk in its business model as more recent investments, such as its bank, approach operational
maturity."

The full Moody's press release can be accessed on www.moodys.com.

Sandton

19 November 2024

Equity sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Debt sponsor
FirstRand Bank Limited

Date: 19-11-2024 05:15:00
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