Change in financial director LIBERTY TWO DEGREES JSE share code: L2D ISIN: ZAE000230553 (Approved as a REIT by the JSE) (“Liberty Two Degrees”) a portfolio established under the Liberty Two Degrees Scheme, a Collective Investment Scheme in Property established in terms of the Collective Investment Schemes Control Act, No 45 of 2002, as amended, and managed by STANLIB REIT Fund Managers (RF) Proprietary Limited (Registration number: 2007/029492/07) (“the Manager”) CHANGE IN FINANCIAL DIRECTOR In compliance with paragraph 3.59 of the JSE Listings Requirements, Liberty Two Degrees announces that, following approval by the Financial Services Board, Mr José Snyders has been appointed as the financial director of the Manager replacing Mr John Sturgeon, effective 23 March 2017. Mr Snyders, a qualified chartered accountant (SA) joined Liberty Two Degrees in January 2017, and in addition to his financial expertise brings with him extensive transaction, debt structuring and acquisition experience. The board look forward to the value that he will contribute to Liberty Two Degrees. Mr Sturgeon will remain on the board as a non-executive director, enabling continued support to the board and utilisation of his experience in this capacity. The board would like to thank Mr Sturgeon for his valuable financial leadership during the listing of Liberty Two Degrees. The Manager of Liberty Two Degrees is in the process of appointing additional independent non-executive directors, subject to regulatory approval, to its board and will make a further announcement in due course. 23 March 2017 Sponsor Java Capital Date: 23/03/2017 10:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.