Results of the Second Annual General Meeting of Shareholders LIBERTY TWO DEGREES LIMITED (Registration number: 2018/388906/06) JSE share code: L2D ISIN: ZAE000260576 (“L2D” or “the Company”) RESULTS OF THE SECOND ANNUAL GENERAL MEETING OF SHAREHOLDERS L2D shareholders are advised that at the second annual general meeting of shareholders of the Company held at 10h00 on Wednesday, 20 May 2020 (“Annual General Meeting”), all the ordinary and special resolutions, as set out in the Notice of the Annual General Meeting, were passed by the requisite majority of votes of shareholders present by means of electronic participation or represented by proxy. - As at Friday, 15 May 2020, being the Annual General Meeting Record Date (“Voting Record Date”), the total number of L2D ordinary shares in issue (“L2D Issued Ordinary Shares”) was 908 443 334; - The L2D Issued Ordinary Shares eligible to vote by being present by means of electronic participation or by submitting proxies was 865 579 020, being 95.277% of the L2D Issued Ordinary Shares. The voting results were as follows: 1. Ordinary resolution number 1 – Annual Financial Statements The audited annual financial statements of the Company and group for the year ended 31 December 2019 were adopted. Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 99.999 0.001 865 538 702 95.277 0.004 2. Ordinary resolution number 2 – Confirmation of non-executive director appointed by the Board of Directors Shares Total Shares voted abstained Directors For Against Number %(1) %(1) (%) (%) 2.1 Mr D Munro 99.069 0.931 865 525 702 95.276 0.006 3. Ordinary resolution number 3 – Re-election of non-executive directors Shares Total Shares voted abstained Directors For Against Number %(1) %(1) (%) (%) 3.1 Mr A Band 99.124 0.876 865 525 952 95.276 0.006 3.2 Ms L Ntuli 99.768 0.232 865 525 952 95.276 0.006 4. Ordinary resolution number 4 – Election of audit and risk committee members Shares Total Shares voted abstained Directors For Against Number %(1) %(1) (%) (%) 4.1 Ms Z Adams 99.998 0.002 865 525 952 95.276 0.006 4.2 Mr W Cesman 99.998 0.002 865 525 702 95.276 0.006 4.3 Ms L Ntuli 99.769 0.231 865 525 952 95.276 0.006 5. Ordinary resolution number 5 – Appointment of PricewaterhouseCoopers Inc. as independent registered auditor and note that M J Basson will be the individual registered auditor Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 99.941 0.059 865 541 952 95.277 0.004 6. Ordinary resolution number 6 – Approval of the remuneration policy by way of a non-binding advisory vote Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 99.137 0.863 865 523 952 95.276 0.006 7. Ordinary resolution number 7 – Approval of the remuneration implementation report by way of a non- binding advisory vote Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 98.639 1.361 865 507 952 95.274 0.008 8. Ordinary resolution number 8 – Approval of new L2D restricted share plan Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 99.169 0.831 865 505 952 95.274 0.008 9. Ordinary resolution number 9 – To place the unissued authorised ordinary shares under the control of the directors Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 85.587 14.413 865 531 952 95.276 0.005 10. Ordinary resolution number 10 – General authority to issue shares for cash Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 97.381 2.619 864 745 712 95.190 0.092 11. Special resolution number 1 – Non-executive directors’ remuneration 2020 Shares Total Shares voted abstained Board For Against Number %(1) %(1) (%) (%) 1.1 Chairman 98.828 1.172 865 523 952 95.276 0.006 1.2 Lead Independent Director 98.932 1.068 865 523 952 95.276 0.006 1.3 Member 98.932 1.068 865 526 952 95.276 0.006 1.4 International Member 98.827 1.173 865 526 952 95.276 0.006 Committees 1.5 Audit and Risk Chairman 98.828 1.172 865 526 952 95.276 0.006 1.6 Audit and Risk Member 98.828 1.172 865 526 952 95.276 0.006 1.7 Social, Ethics & Transformation Chairman 98.931 1.069 865 526 952 95.276 0.006 1.8 Social, Ethics & Transformation Member 98.819 1.181 865 526 952 95.276 0.006 1.9 Remuneration and Nomination Chairman 98.827 1.173 865 526 952 95.276 0.006 1.10 Remuneration and Nomination Member 98.819 1.181 865 526 952 95.276 0.006 1.11 Other committee meetings 98.932 1.068 865 526 952 95.276 0.006 12. Special resolution number 2 – Financial assistance to related and inter-related parties Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 99.490 0.510 865 541 952 95.277 0.004 13. Special resolution number 3 – General authority to repurchase shares Total Shares voted Shares abstained For (%) Against (%) Number %(1) %(1) 98.163 1.837 865 541 952 95.277 0.004 (1) Expressed as a percentage of 908 443 334 L2D ordinary shares in issue as at the Voting Record Date of Friday, 15 May 2020. Johannesburg 20 May 2020 Sponsor The Standard Bank of South Africa Limited Investor Relations Gareth Rees Contact number: 011 448 6804 Date: 20-05-2020 03:00:00 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. 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