DISCOVERY LIMITED - Acceptance of annual shares awarded in terms of the Discovery Long-Term Incentive Plan (LTIP)

Acceptance of annual shares awarded in terms of the Discovery Long-Term Incentive Plan (“LTIP”)

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
("Company" or "Group" or "Discovery")

ACCEPTANCE OF ANNUAL SHARES AWARDED IN TERMS OF THE DISCOVERY LONG-TERM
INCENTIVE PLAN ("LTIP")

In compliance with the JSE Limited Listings Requirements and Debt 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
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 and vest
equally from the 3rd to the 5th anniversaries of these awards (between 30 September 2024 and
30 September 2026), provided the necessary vesting criteria have been achieved.

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 allocations are set out below:


 Executive         Number of             Acceptance date       Reference       Deemed
 director          shares accepted                             price*          transaction value
 A Gore            68,786                1 December 2021       132.35          R9,103,827
 D M Viljoen       45,197                1 December 2021       132.35          R5,981,823
 H D Kallner       46,135                30 November 2021      132.35          R6,105,967
 A Ntsaluba        40,744                1 December 2021       132.35          R5,392,468
 A Pollard         22,276                1 December 2021       132.35          R2,948,229
 B Swartzberg      23,068                1 December 2021       132.35          R3,053,050
 

 Director of       Subsidiary            Acceptance date       Number of       Reference       Deemed
 major                                                         shares          price*          transaction
 subsidiary                                                    accepted                        value
 J Broomberg       Discovery             1 December 2021       16,783          132.35          R2,221,230
                   Health
 K S Rabson        Discovery Life        1 December 2021       33,500          132.35          R4,433,725
 R J van Reenen    Discovery Life        1 December 2021       32,051          132.35          R4,241,950


*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 2021.

Sandton
1 December 2021

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

Date: 01-12-2021 03:57:00
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