DISCOVERY LIMITED - Appointment of future joint auditors and audit firm rotation

Appointment of future joint auditors and audit firm rotation

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 company code: DSYI
(“Discovery”)

APPOINTMENT OF FUTURE JOINT AUDITORS AND AUDIT FIRM ROTATION

Shareholders and noteholders are advised that, in accordance with the mandatory audit firm rotation rules
issued by the Independent Regulatory Board for Auditors in South Africa (IRBA) and the anticipated
regulations of the Prudential Authority of the South African Reserve Bank (Prudential Authority), which will
require significant insurance groups to have joint external auditors, Discovery intends to appoint KPMG Inc.
(KPMG) as joint auditors for the financial year ending 30 June 2022, and subsequently Deloitte & Touche
(Deloitte) as joint auditors with KPMG for the financial year ending 30 June 2024.

The current auditors, PricewaterhouseCoopers Inc. (PwC) will remain the sole auditors for the financial year
ending 30 June 2021 and, together with KPMG, will act as joint auditors for the financial years ending 30 June
2022 and 30 June 2023. PwC’s appointment will be terminated upon conclusion of the audit of the financial
year ending 30 June 2023 in accordance with the mandatory audit firm rotation rule s issued by IRBA.

In terms of section 90(1) of the Companies Act No. 71 of 2008, as amended, as well as paragraphs 3.86 and
7.3(e)(iv) of the JSE Limited Listings and Debt Listings Requirements respectively, the respective
appointments of KPMG and Deloitte will be recommended to the Discovery ordinary shareholders at the
appropriate annual general meetings. The appointments of the audit firms and lead audit partners are subject
to the approval of the Prudential Authority and accordingly further announcements will be made when the
process is concluded.


Sandton
9 June 2021

Sponsor and Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 09-06-2021 07:15:00
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