Grant and Acceptance of Share Awards by Directors and Company Secretary LIBERTY HOLDINGS LIMITED Incorporated in the Republic of South Africa Registration number 1968/002095/06 ISIN code: ZAE000127148 Alpha Code LBH ("Liberty Holdings") GRANT AND ACCEPTANCE OF SHARE AWARDS BY DIRECTORS AND COMPANY SECRETARY In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, Liberty Holdings hereby announces that the Directors and Company Secretary of the Company have been granted, and accepted, Special Deferred Restricted Share awards in terms of Liberty Holding’s Group Restricted Share Plan Trust (“Awards”). These Awards were approved by Liberty Holdings’ Remuneration Committee and granted on 22 March 2019. Director : D C Munro Acceptance date: 22 March 2019 Nature of transaction: Off-market award and acceptance of share awards in respect of a portion of short-term incentive remuneration being deferred and converted into restricted shares in terms of the Liberty Holdings Group Restricted Share Plan Trust Vesting periods: One-third after 18 months, another one-third after 30 months and the balance after 42 months . No conditionality applies Number of securities: 21,542 Price per share* : R99.14 Total value of transaction: R2,135,673.88 Nature and extent of interest: Indirect beneficial Clearance obtained: Yes Director : Y Maharaj Acceptance date: 22 March 2019 Nature of transaction: Off-market award and acceptance of share awards in respect of a portion of short-term incentive remuneration being deferred and converted into restricted shares in terms of the Liberty Holdings Group Restricted Share Plan Trust Vesting periods: One-third after 18 months, another one-third after 30 months and the balance after 42 months . No conditionality applies Number of securities: 10,600 Price per share* : R99.14 Total value of transaction: R1,050,884 Nature and extent of interest: Indirect beneficial Clearance obtained: Yes Company Secretary: J M Parratt Acceptance date: 22 March 2019 Nature of transaction: Off-market award and acceptance of share awards in respect of a portion of short-term incentive remuneration being deferred and converted into restricted shares in terms of the Liberty Holdings Group Restricted Share Plan Trust Vesting periods: One-third after 18 months, another one-third after 30 months and the balance after 42 months . No conditionality applies Number of securities: 9,676 Price per share* : R99.14 Total value of transaction: R959,278.64 Nature and extent of interest: Indirect beneficial Clearance obtained: Yes *The price per share is the closing price of the Liberty Holdings ordinary share on 22 March 2019. Braamfontein 25 March 2019 Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 25/03/2019 10:25:00 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.