Discovery Limited · JSE:DSY

Discovery — Investor Presentation (July 2025)

35 slides from Discovery's investor presentation, July 2025

  1. Slide 1: Discovery

    ry) Discovery

  2. Slide 2: Table of contents

    Table of contents Asset Class Performance to 31 July 2025 SA Rand against the US Dollar, Pound & Eur SA Equity Performance to 31 July 2025 o (5 years) Commodities Performance to 31 July 2025 Global Market Performance to 31 July 2025 Exchange Rates (USDZAR) SA Markets Exchange Rates (GBPZAR) Resource

  3. Slide 3: Asset Class Performance to 31 July 2025

    Asset Class Performance to 31 July 2025 3

  4. Slide 4: SA Equity Performance to 31 July 2025

    SA Equity Performance to 31 July 2025 4

  5. Slide 5: Commodities Performance to 31 July 2025

    Commodities Performance to 31 July 2025 5

  6. Slide 6: Global Market Performance to 31 July 2025

    Global Market Performance to 31 July 2025 6

  7. Slide 7: SA Markets

    oq SA Markets JSE All Share Index Ot Jan00 O1Jan02 © O1Jan04 = Ot Jan06 =O dan 08 The graph tracks he value of the Al Share Index, a decent Indeaor of SA stock marks performance 01 Jan 10 01 Jan 12 Years 01 Jan 14 01 Jan 16 — All Share Total Return index (J203) 01 Jan 18 01 Jan 20 01 Jan 22 01 Jan 2

  8. Slide 8: Resources vs Financials vs Industrials

    Resources vs Financials vs Industrials 8

  9. Slide 9: Earnings per share and price-earnings ratios

    Earnings per share and price-earnings ratios 9

  10. Slide 10: South African Volatility Index (SAVI)

    South African Volatility Index (SAVI) 10

  11. Slide 11: Exchange Rate overview (CPI - Best Fit)

    Exchange Rate overview (CPI - Best Fit) 11

  12. Slide 12: Interest rates and bond yields

    Interest rates and bond yields 12

  13. Slide 13: Bond Yields

    Bond Yields R186 "1 10.5 (26) Aum 1 preva, 65 01 Jan 06 01 Jan 08 01 Jan 10 01 Jan 12 Ot Jan 14 01 Jan 16 01 Jan 18 01 Jan 20 01 Jan 22 01 Jan 24 Years — R186 Bond Yield (R 186) The bie line represents the 10-year government bond (R188) wih Interest of 10.5% per annum, pad semlannualy, Goverment bac

  14. Slide 14: Equity Yields vs Interest Rates

    Equity Yields vs Interest Rates 14

  15. Slide 15: MSCI vs Earnings

    2940 MSCI vs Earnings Morgan Stanley World Index (USD) 01 Jan 06 01 Jan 08 01 Jan 10 01 Jan 12 01 Jan 14 01 Jan 16 01 Jan 18 Years — MSCI World Index (MxWO) Ir earings per share are tending higher than curtent shae pres, he sectors undervalued and presents buying opportunity — Eamings per share (MXW

  16. Slide 16: MSCI EM vs Earnings

    MSCI EM vs Earnings Morgan Stanley Emerging Markets Index (USD) 01 Jan 06 01 Jan 08 01 Jan 10 01 Jan 12 01 Jan 14 01 Jan 16 01 Jan 18 Years — MSCI Emerging Markets Index (MXEF) — Eamings per share (MXEF) Ir earings per share are tending higher than curtent shae pres, he sectors undervalued and prese

  17. Slide 17: Global Markets Overview

    CS Global Markets Overview MSCI Index Returns Regional Comparison 01 Jan...01 Jan09. 01 Jan 10 01 Jan41 Ot Jan 12 O1Jan13 O1Jan14 O1Jan15 O1Jan16 O1Jan17 O1Jan18 O1Jan19 O1Jan20 O1Jan21 O1Jan22 01 Jan23 O1Jan24 01 Jan 25 Years — MSCI World (MXWO) — MSCI EM (MXEF) — MSCI FM (MX_136614) — MSCI EFM Afr

  18. Slide 18: MSCI Relative Price-Earnings Ratios (Trailing)

    MSCI Relative Price-Earnings Ratios (Trailing) 18

  19. Slide 19: MSCI and SWIX Relative Price-Earnings Ratios (Trailing)

    MSCI and SWIX Relative Price-Earnings Ratios (Trailing) 19

  20. Slide 20: Global market volatility

    2958 Global market volatility VIX Index 01 Jan...01 Jan 92 01 Jan 94 01Jan96 O1Jan98 01Jan00 O1Jan02 01 Jan04 01Jan06 01 Jan08 O1Jan10 O1Jan12 O1Jan14 O1Jan16 O1Jan18 O1Jan20 O1Jan22 01 Jan 24 Years — Global market volatility (CBOE MV Index) A gauge of market sentimentfear relating tothe global equi

  21. Slide 21: Global Bonds

    2940 Global Bonds BARCAP Global Bond Index (USD) 01 Jan 04 01 Jan 06 01 Jan 08 01 Jan 10 01 Jan 12 01 Jan 14 01 Jan 16 01 Jan 18 Years — BARCAP (BARCAP Global Bond Index) 01 Jan 20 01 Jan 22 01 Jan 24 600 550 00 450 400 350 300 250 ‘anjen xepul 21

  22. Slide 22: SA Rand against the US Dollar, Pound & Euro (12 months)

    SA Rand against the US Dollar, Pound & Euro (12 months) 22

  23. Slide 23: SA Rand against the US Dollar, Pound & Euro (5 years)

    SA Rand against the US Dollar, Pound & Euro (5 years) 23

  24. Slide 24: Exchange Rates (USDZAR)

    Exchange Rates (USDZAR) SA Rand against US Dollar 01 Jan 75 01 Jan 80 01 Jan 85 04 Jan 90 01 Jan 95 01 Jan 00 01 Jan 05 01 Jan 10 01 Jan 15 01 Jan 20 01 Jan 25 Years — SA Rand against US Dollar (USDZAR) Zoe 225 20 175 78 25 eye) ebueyox3,

  25. Slide 25: Exchange Rates (GBPZAR)

    Exchange Rates (GBPZAR) wy) SA Rand against the UK Pound 278 25 225 175 12.5 eye) ebueyox3, 01 Jan 80 01 Jan 85 01 Jan 90 01 Jan 95 01 Jan 00 01 Jan 05 01 Jan 10 01 Jan 15 01 Jan 20 01 Jan 25 Years — SA Rand against the UK Pound (GBPZAR)

  26. Slide 26: Exchange Rates (EURZAR)

    CS Exchange Rates (EURZAR) SA Rand against the Euro 01 Jan 88 01 Jan 90 01 Jan 92 01 Jan 94 01 Jan 96 01 Jan 98 01 Jan 00 01 Jan 02 01 Jan 04 01 Jan 06 01 Jan 08 01 Jan 10 01 Jan 12 01 Jan 14 01 Jan 16 01 Jan 18 01 Jan 20 01 Jan 22 01 Jan 24 Years — SA Rand against the Euro (EURZAR) 225 175 12.5 eye

  27. Slide 27: SA equities vs. global developed & emerging markets (12 months)

    SA equities vs. global developed & emerging markets (12 months) 27

  28. Slide 28: SA equities vs. global developed & emerging markets (5 years)

    SA equities vs. global developed & emerging markets (5 years) 28

  29. Slide 29: US Institute for Supply Management Index

    US Institute for Supply Management Index 29

  30. Slide 30: SA Purchasing Managers Index

    SA Purchasing Managers Index 30

  31. Slide 31: Gold Price (USD)

    CS Gold Price (USD) Gold price in US$ terms 01 Jan 08. 01 Jan 10 01 Jan 11 OtJan12 O1dan13 O1Jan14 O1Jan15 O1Jan16 O1Jan17 O01 Jan 18 01 Jan 19 01 Jan20 01 Jan 21 Years — Gold - Price (USD) (GOLD) OtJan22 O1Jan23 O1Jan24 01 Jan 25 3500 3000 2500 2000 1500 1000 500 ‘e9ud ods ul eBueuo Je9K uo see, 31

  32. Slide 32: Brent Crude Price per Barrel (USD)

    Brent Crude Price per Barrel (USD) 32

  33. Slide 33: Platinum Price (USD)

    2940 Platinum Price (USD) Platinum price in US$ terms 01 Jan 00 01 Jan 02 01 Jan 04 01 Jan 06 01 Jan 08 01 Jan 10 O1Jan12 Ot Jan14. Ot Jan 16 Years — Platinum - Price (USD) (PLATINUM) 01 Jan 18 01 Jan 20 01 Jan 22 01 Jan 24 2250 2000 1750 1500 1250 1000 750 500 250 ‘e9ud ods ul eBueuo Je9K uo see, 3

  34. Slide 34: Conclusion

    Conclusion ry) Thank you for listening, this brings the InvestGuru for July to an end.

  35. Slide 35: Disclaimer

    Disclaimer This document is produced on behalf of Discovery Invest by RisCura Invest (Pty) Ltd. It contains confidential information and is protected by copyright law. Copyright in all information, material and logos are protected by both national and international intellectual property laws. Accord

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