Leadership changes of Discovery Limited’s major subsidiaries

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")

Leadership changes of Discovery Limited's major subsidiaries

Discovery shareholders are advised of the following leadership changes:


1. Dr Ryan Noach resigns as CEO of Discovery Health (Pty) Limited

   Dr Noach will resign as CEO of Discovery Health with effect from 31 December 2023, having spent
   15 years at the Group, to pursue an entrepreneurial opportunity outside of the healthcare and
   financial services sectors. In line with the longstanding tradition of retaining the collective
   institutional knowledge and expertise of past leadership, he will serve as a non-executive director
   on the Discovery Health Board with effect from 1 January 2024.

2. Dr Ronald Whelan appointed as CEO of Discovery Health (Pty) Limited

   Following a three-month handover period, and in line with the established succession plan that
   has been in place for over a year, Dr Whelan, the current Deputy CEO of Discovery Health, will be
   appointed as CEO of Discovery Health with effect from 1 January 2024.

   Dr Whelan joined Discovery Health in 2019 and has been integrally involved across Discovery
   Health's strategy, operations, scheme risk management and ancillary healthcare services. He is a
   medical doctor with an MBA and extensive clinical and commercial healthcare experience. He led
   Discovery Health's response to the Covid-19 pandemic, working closely with B4SA and the National
   Department of Health ("NdoH") in the national vaccination project. Dr Whelan has been a member
   of the Discovery South Africa Executive Committee since 2020 and will be appointed to the
   Discovery Limited Executive Committee. Together with a strong executive team, he is well
   positioned to take the business forward.

3. Nonkululeko Pitje appointed as CEO of Discovery Corporate & Employee Benefits

   In line with the Group's growth strategy and ambition, Discovery is formalising its existing
   functions of Group Risk, Umbrella Funds, HealthyCompany, and Strategic Client Solutions Hub into
   a new business unit Corporate & Employee Benefits business, led by Nonkululeko Pitje with effect
   from 1 January 2024.

   Ms Pitje joined Discovery in 2004 and is currently the Chief Growth Officer of Discovery Health,
   where she has been responsible for expanding the footprint and diversification of Discovery
   Health's revenue. She has been instrumental in driving the introduction and growth of value-
   adding solutions such as Flexicare, Healthy Company, Gap Cover, Trauma Cover and Prepaid
   Health. She is an Executive Director of Discovery Health, a member of the Discovery Health
   Executive Committee and the Discovery South Africa Executive Committee. She will also be
   appointed to the Discovery Limited Executive Committee.

These changes will have no impact on the composition of the Discovery Limited Board of
Directors.

Sandton
12 October 2023

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

Date: 12-10-2023 03:37:00
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