Liberty Two Degrees : Results of the Fourth Annual General Meeting of Shareholders

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