Enhanced Investments - Financial Portal

Dealings in securities by a director

Published: 2022-11-23 18:25:24 ET

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”)

DEALINGS IN SECURITIES BY A DIRECTOR

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited (“JSE”) Listings and paragraphs 6.42 to 6.53 of the JSE
Debt Listings Requirements, the following information is disclosed.

Shareholders and noteholders are referred to the announcement released on the JSE Stock Exchange News Service on
2 November 2018, with regard to Mr. Barry Swartzberg’s hedging transactions entered into over a portion of his
shareholding in Discovery.

Shareholders and noteholders are now advised that Mr. Barry Swartzberg has further extended and amended the
existing hedging transactions, originally entered into on 29 October 2018, as stated below. These hedging transactions
are related to managing risk associated with funding arrangements entered into during previous rights offers and
various subscriptions for shares.

 Director                                          :     Mr. Barry Swartzberg
 Company                                           :     Discovery Limited
 Office held                                       :     Chief Executive Officer: Vitality Global
 Nature of interest                                :     Indirect beneficial
 Clearance obtained                                :     Yes

 Date of transactions                              :     18 November 2022
 Class of securities                               :     Options over Discovery ordinary shares
 On market / off market                            :     Off market

Transaction 1
 Nature of transaction                             :    Purchase of cash-settled European put options with an
                                                        average strike price of R 104.10 per share
 Exercise Dates                                    :    31 October 2023 to 14 December 2023
 Number of options                                 :    2,800,000
 Notional value of transaction in 2023             :    R 291,480,000.00

Transaction 2
 Nature of transaction                             :    Purchase of cash-settled European put options with an
                                                        average strike price of R 104.10 per share
 Exercise Dates                                    :    30 April 2024 to 13 June 2024
 Number of options                                 :    2,800,000
 Notional value of transaction in 2024             :    R 291,480,000.00

Transaction 3
 Nature of transaction                             :    Sale of cash-settled European call options with an average
                                                        strike price of R 160.00 per share
 Exercise Dates                                    :    31 October 2023 to 14 December 2023
 Number of options                                 :    2,800,000
 Notional value of transaction in 2023             :    R 448,000,000.00

Transaction 4
 Nature of transaction                             :    Sale of cash-settled European call options with an average
                                                        strike price of R 165.00 per share
 Exercise Dates                                    :    30 April 2024 to 13 June 2024
 Number of options                             :    2,800,000
 Notional value of transaction in 2024         :    R 462,000,000.00

Sandton
23 November 2022

Sponsor and Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.