Dealings in Securities by Executive Directors LIBERTY TWO DEGREES LIMITED (Registration number: 2018/388906/06) JSE share code: L2D ISIN: ZAE000260576 (“L2D” or “the Company”) DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, L2D hereby announces the following transactions for the directors of the Company in terms of L2D’s Restricted Share Plan (“the “LTIP”). Director (Chief Executive) Amelia Beattie Date of award 1 March 2017 Date of transaction (Vesting date) 1 September 2020 Number of securities 32 647 ordinary shares Nature of transaction Off-market vesting of restricted share awards in respect of a portion of short-term incentive remuneration being deferred and converted into restricted shares in terms of the LTIP Vesting periods One-third after 18 months, another one-third after 30 months and the balance after 42 months. No conditionality applies Price per share R4.26 Total value of transaction R139 084.74 Nature and extent of interest Direct beneficial Director (Chief Executive) Amelia Beattie Date of award 1 March 2018 Date of transaction (Vesting date) 1 September 2020 Number of securities 15 623 ordinary shares Nature of transaction Off-market vesting of restricted share awards in respect of a portion of short-term incentive remuneration being deferred and converted into restricted shares in terms of the LTIP Vesting periods One-third after 18 months, another one-third after 30 months and the balance after 42 months. No conditionality applies Price per share R4.26 Total value of transaction R66 553.98 Nature and extent of interest Direct beneficial Director (Chief Executive) Amelia Beattie Date of award 1 March 2019 Date of transaction (Vesting date) 1 September 2020 Number of securities 47 621 ordinary shares Nature of transaction Off-market vesting of restricted share awards in respect of a portion of short-term incentive remuneration being deferred and converted into restricted shares in terms of the LTIP Vesting periods One-third after 18 months, another one-third after 30 months and the balance after 42 months. No conditionality applies Price per share R4.26 Total value of transaction R202 865.46 Nature and extent of interest Direct beneficial Director (Chief Executive) Amelia Beattie Date of transaction 1 September 2020 Number of securities 48 272 ordinary shares Nature of transaction On-market sale Price per share R4.0791 Total value of transaction R196 906.31 Nature and extent of interest Direct beneficial Director (Chief Executive) Amelia Beattie Date of transaction 1 September 2020 Number of securities 22 637 ordinary shares Nature of transaction On-market sale to cover the income tax liability Price per share R4.0791 Total value of transaction R92 338.59 Nature and extent of interest Direct beneficial Director (Financial Director) José Richard Snyders Date of award 1 September 2017 Date of transaction (Vesting date) 1 September 2020 Number of securities 81 481 ordinary shares Nature of transaction Off-market vesting of restricted share awards in respect of the first tranche of share awards made on appointment to L2D Vesting periods One-third after 36 months, another third after 48 months and the balance after 60 months. No conditionality applies Price per share R4.26 Total value of transaction R347 109.06 Nature and extent of interest Direct beneficial Director (Financial Director) José Richard Snyders Date of award 1 March 2018 Date of transaction (Vesting date) 1 September 2020 Number of securities 10 415 ordinary shares Nature of transaction Off-market vesting of restricted share awards in respect of a portion of short-term incentive remuneration being deferred and converted into restricted shares in terms of the LTIP Vesting periods One-third after 18 months, another one-third after 30 months and the balance after 42 months. No conditionality applies Price per share R4.26 Total value of transaction R44 367.90 Nature and extent of interest Direct beneficial Director (Financial Director) José Richard Snyders Date of award 1 March 2019 Date of transaction (Vesting date) 1 September 2020 Number of securities 28 366 ordinary shares Nature of transaction Off-market vesting of restricted share awards in respect of a portion of short-term incentive remuneration being deferred and converted into restricted shares in terms of the LTIP Vesting periods One-third after 18 months, another one-third after 30 months and the balance after 42 months. No conditionality applies Price per share R4.26 Total value of transaction R120 839.16 Nature and extent of interest Direct beneficial Director (Financial Director) José Richard Snyders Date of transaction 1 September 2020 Number of securities 57 167 ordinary shares Nature of transaction On-market sale to cover the income tax liability Price per share R4.0791 Total value of transaction R233 189.91 Nature and extent of interest Direct beneficial Clearance to trade was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Johannesburg 3 September 2020 Sponsor: The Standard Bank of South Africa Limited Investor Relations Gareth Rees Contact number: 011 448 6804 Date: 03-09-2020 03:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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