Discovery (DSY) AGM 2024 summary

Opening remarks and agenda

• The meeting opened with a tribute to the late Tito Mboweni, recognizing his significant contributions to the board and committees.

• A quorum was confirmed with proxies representing 74.78% of issued share capital, and the meeting was declared duly constituted.

• The agenda included financial performance, board diversity, and succession planning.

Financial performance review

• Normalized operating profit increased by 17% and normalized headline earnings by 15%.

• The group focused on earnings growth, cash generation, and capital resilience amid global economic uncertainty.

Board and executive committee updates

• Board comprised 13 directors as of June 30, 2024, with 10 non-executive and 3 executive members.

• Female board representation rose to 46% (from 18% in 2020), and Black directors to 38% (from 29% in 2020).

• Plans to add two more Black directors over the next year.