Trading Statement for the six-month period ending 30 June 2020 Liberty Holdings Limited Registration number 1968/002095/06 Incorporated in the Republic of South Africa Share code: LBH ISIN code: ZAE000127148 ("Liberty Holdings" or "the Group") LIBERTY HOLDINGS LIMITED TRADING STATEMENT FOR THE SIX-MONTH PERIOD ENDING 30 JUNE 2020 We refer shareholders to the Group’s operational update for the three-month period ended 31 March 2020 released on SENS on 14 May 2020, which noted key factors that may have a material impact on the Group’s earnings for the 30 June 2020 and 31 December 2020 reporting periods due to the unprecedented effects of the COVID-19 pandemic. Shareholders are accordingly advised, in terms of paragraph 3.4(b)(iii)(3) of the JSE Listings Requirements that Liberty’s normalised headline earnings per ordinary share (NHEPS), headline earnings per ordinary share (HEPS) and basic earnings per ordinary share (EPS) for the six-month period ending 30 June 2020 are expected to be more than 20% lower than the reported NHEPS, HEPS and EPS for the comparative period (30 June 2019 NHEPS: 735,8 cents, 30 June 2019 HEPS: 746,6 cents and 30 June 2019 EPS: 699,9 cents). Liberty plans to release its results for the six-month period ending 30 June 2020 on 5 August 2020. Once there is reasonable certainty regarding the extent of the decline in earnings, we will issue a further trading statement with guidance on the relevant NHEPS, HEPS and EPS ranges relative to the comparative period. The financial information contained in this trading statement for the six-month period ending 30 June 2020 has not been audited or reviewed by the Group's auditors. Queries: Investor Relations Sharon Steyn Email: sharon.steyn@liberty.co.za 29 May 2020 Sponsor Merrill Lynch South Africa (Pty) Limited Date: 29-05-2020 05:00:00 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. 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.