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")


                      Appointment of Independent Non-Executive Directors



In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, the board of
directors of L2D ("the Board") is pleased to advise shareholders that Ms Nonhlanhla Mayisela
(“Nonhlanhla”), Ms Itumeleng Dlamini (“Itumeleng”) and Ms Philisiwe Mthethwa (“Philisiwe”) have
been appointed as independent non-executive directors of the Company all with effect from
24 November 2022.
Nonhlanhla (40) is the co-owner and executive director of Ukukhula Real Estate, a majority black-
women-owned commercial real estate asset management company. She has over 20 years' experience
in the property industry. Nonhlanhla has been at the forefront of driving gender diversity through her
extensive involvement in the Women’s Property Network. She is also the co-founder and director of
African Women in Property, a non-executive director of Afrit Group and an investment committee
member of Summit Africa Social Infrastructure Fund. She holds a BCom in Accounting and Post
Graduate Diploma in Management.
Itumeleng (49) is an advisor to the African Peer Review Mechanism, an organ of the African Union
where she focusses on policy reforms on Corporate Governance in Africa and is the founding executive
director of the African Network on Corporate Governance of SOEs. Her prior positions include executive
director of Master Builders South Africa and Head of Internal Relations of the 2010 FIFA World Cup
Organising Committee South Africa. She is an admitted Attorney of the High Court of South Africa and
former partner at an international law firm. She holds a Master's degree in Public Administration from
Harvard University.
Philisiwe (58) is the CEO of the National Empowerment Fund (NEF). She is also a non-executive director
of the National Housing Finance Corporation (NHFC) and a board member of the Industrial Development
Corporation (IDC). Prior to joining the NEF, she worked in London for Banque Nationale de Paris as a
Planning Analyst and was later was responsible for risk management control at the South African
Reserve Bank before working in the Treasury division at Standard Corporate and Merchant Bank. As a
former economic diplomat she was responsible for trade and investment promotion among eight
European countries. She holds an MBA in Corporate Finance from the University of Sheffield. In 2011,
Philisiwe was knighted by former French President, Mr Nicolas Sarkozy through appointment as a
Chevalier de la Legion d’Honneur (Knight of the National Order of Merit).
Post the appointment of the three directors, 64% of the Board is composed of independent directors.
From a gender diversity perspective, there are 55% female and 45% male directors and from a racial
diversity perspective, there are 55% black and 45% white directors. Black female directors comprise
45% of the Board.
The Board welcomes Nonhlanhla, Itumeleng and Philisiwe and looks forward to their contribution to the
Company.


Johannesburg
23 November 2022
Sponsor
Merchantec Capital

Investor Relations
Sumenthree Moodley
Contact number: 011 358 9171