DSY 201703200008A Disclosure of significant holding of Discovery Limited ordinary shares DISCOVERY LIMITED (Incorporated in the Republic of South Africa) (Registration number 1999/007789/06) JSE share code: DSY ISIN: ZAE000022331 (“Company”) DISCLOSURE OF SIGNIFICANT HOLDING OF DISCOVERY LIMITED ORDINARY SHARES In accordance with paragraph 3.83 of the JSE Limited Listings Requirements and section 122 of the Companies Act 71 of 2008 (“the Act”), shareholders are advised of the following: Coronation Asset Management Proprietary Limited ('Coronation') has notified the Company that accounts under its management have acquired a beneficial interest in the ordinary shares of the Company, such that Coronation’s total beneficial interest has increased to 5.01% of the Company’s issued ordinary shares. As required in terms of section 122(3)(a) of the Act, the Company has filed the required notice with the Takeover Regulation Panel. Sandton 20 March 2017 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/03/2017 09:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.