LIBERTY TWO DEGREES LIMITED
                                 Incorporated in the Republic of South Africa
                                   (Registration number 2018/388906/06)
                                      (Approved as a REIT by the JSE)
                                  Share code: L2D ISIN: ZAE000260576
                                         (“L2D” or “the Company”)

           RESULTS OF THE FOURTH ANNUAL GENERAL MEETING OF SHAREHOLDERS



Shareholders are advised that, at the fourth Annual General Meeting (“AGM”) of L2D held today, 25 May 2022,
all the resolutions as set out in the Notice of Annual General Meeting were passed by the requisite majority of
shareholders.
As at Friday, 20 May 2022, being the AGM Record Date (“Voting Record Date”), the total number of L2D
ordinary shares in issue (“L2D shares”) was 908 443 334.
The number of shares voted in person or by proxy was 822 360 835 representing 90.52% of the total issued
share capital of the same class of L2D shares.
The resolutions proposed at the meeting, together with the percentage of votes carried for and against each
resolution, as well as the percentage of shares abstained, are set out below:


                                                                    % of votes      % of votes
                                                                     carried for   against the % of shares
Resolution                                                       the resolution     resolution  abstained
Ordinary resolution number 1: Adoption of Annual Financial
Statements                                                                100%              0%         0.01%

Ordinary resolution number 2: Confirmation of non-
executive director appointed by the Board
2.1 Mr N Criticos                                                       98.41%          1.59%          0.01%
Ordinary resolution number 3: Retirement and re-election of
non- executive directors
3.1 Mr D Munro                                                          99.99%          0.01%          0.01%
3.2 Ms L Ntuli                                                          99.93%          0.07%          0.01%

Ordinary resolution number 4: Election of Audit and Risk
Committee members
4.1 Mr P Nelson – Chairman                                                100%              0%         0.01%
4.2 Mr B Makhubedu                                                      99.99%          0.01%          0.01%
4.3 Mr C Ewin                                                             100%              0%         0.01%

Ordinary resolution number 5: Re-appointment of
PricewaterhouseCoopers Inc. as the external auditor with Ms J
Basson being the individual registered auditor                          99.93%          0.07%          0.01%
Ordinary resolution number 6: Approval of the remuneration
policy by way of a non-binding advisory vote                            94.96%          5.04%          0.01%
Ordinary resolution number 7: Approval of the
implementation report on the remuneration policy by way of a
non-binding advisory vote                                        94.96%   5.04%   0.01%
Ordinary resolution number 8: Approval of amendments to
the L2D Restricted Share Plan                                    98.01%   1.99%   0.01%

Ordinary resolution number 9: To place 10% of the unissued
authorised ordinary shares under the control of the directors    93.98%   6.02%   0.01%
Ordinary resolution number 10: General, but restricted
authority to issue shares for cash                               96.97%   3.03%   0.01%

Special resolution number 1: Non-executive directors’
remuneration for 2022
1.1 Board - Chairman                                             96.98%   3.02%   0.01%
1.2 Board - Lead Independent Director                            99.45%   0.55%   0.01%
1.3 Board - Member                                               99.45%   0.55%   0.01%
Committees
1.4 Audit and Risk Committee - Chairman                          99.29%   0.71%   0.01%
1.5 Audit and Risk Committee - Member                            99.29%   0.71%   0.01%
1.6 Social, Ethics and Transformation Committee - Chairman       99.29%   0.71%   0.01%
1.7 Social, Ethics and Transformation Committee - Member         99.29%   0.71%   0.01%
1.8 Remuneration and Nomination Committee - Chairman             99.29%   0.71%   0.01%
1.9 Remuneration and Nomination Committee - Member               99.29%   0.71%   0.01%
1.10 Other committee meetings                                    97.86%   2.14%   0.01%
Special resolution number 2: Financial assistance to related
and inter-related parties                                        98.40%   1.60%   0.01%
Special resolution     number    3:   General   authority   to
repurchase shares                                                97.57%   2.43%   0.01%


Johannesburg
25 May 2022

Sponsor
Merchantec Capital

Investor Relations
Sumenthree Moodley
Contact number: 011 358 9171