DISCOVERY LIMITED - Trading statement for the year ended 30 June 2026

Trading statement for the year ended 30 June 2026 

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

Trading statement for the year ended 30 June 2026

Discovery delivered robust results for the financial year ended 30 June 2026 (the “year”):

    -    Normalised profit from operations is expected to increase by between 15% and 20%, compared to 30
         June 2025 (the “prior year”). Within this result, Discovery South Africa is expected to grow by 13% to
         18% and the Vitality composite is expected to grow by between 18% and 23%.
    -    Normalised headline earnings is expected to increase by between 18% and 23%, enhanced by lower
         finance costs, in line with the Group’s planned reduction in financial leverage.
    -    Headline earnings is expected to increase by between 31% and 36%, following the gain on termination
         of the lease through the acquisition of 1 Discovery Place, the Group’s head office, as previously
         announced.

Shareholders and noteholders are advised that, for the year:

    -    Earnings per share ("EPS") (basic) is expected to increase by between 35% and 40% (to between 1893.0
         cents and 1963.1 cents) compared to the reported EPS (basic) of 1402.2 cents for the prior year.
    -    Headline earnings per share ("HEPS") (basic) is expected to increase by between 31% and 36% (to
         between 1895.6 cents and 1967.9 cents) compared to the reported HEPS (basic) of 1447.0 cents for the
         prior year.
    -    Normalised HEPS ("NHEPS") (basic) is expected to increase by between 18% and 23% (to between 1735.1
         cents and 1808.6 cents) compared to the reported NHEPS (basic) of 1470.4 cents for the prior year.

Further details of the above will be available when Discovery reports on its results for the year, expected to be
released on or about 3 September 2026.

The information contained in this announcement, including any forecast financial information on which this
trading statement is based, is the responsibility of the board of directors of Discovery and has not been reviewed
and reported on by Discovery's joint external auditors.

Sandton
26 August 2026

Equity and Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited




                                                                                                                     Internal
Date: 26/08/2026 07:00:00
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