Liberty Two Degrees : Dealings in Securities by the Restricted Share Plan Trust (”RSP”)

LIBERTY TWO DEGREES LIMITED

Incorporated in the Republic of South Africa

(Registration number 2018/388906/06)

(Approved as a REIT by the JSE)

Share code: L2D ISIN: ZAE000260576

("L2D" or "the Company")

DEALINGS IN SECURITIES BY THE RESTRICTED SHARE PLAN TRUST ("RSP")

In compliance with the JSE Limited Listings Requirements, the following information is disclosed:

1. FORFEITURE OF RESTRICTED SHARES PREVIOUSLY AWARDED

Date of forfeiture	1	March 2022
Number of securities	1	173 160 ordinary shares
Nature of transaction	Off-market forfeiture of securities in the terms of the
	RSP
Notional value per share *	R4.20
Total notional value	R4 927 272.00
Nature of interest	Indirect beneficial

2. ACQUISITION OF SECURITIES FOR ALLOCATION TO PARTICIPANTS

Date of transaction	1 March 2022
Number of securities	1 173 160 ordinary shares
Nature of transaction	Off-market allocation of forfeited securities to fulfil
	the obligations of the RSP
Price per share *	R4.20
Total value of transaction	R4 927 272.00
Nature and extent of interest	Indirect beneficial
Date of transaction	8 March 2022
Number of securities	4 174 426
Nature of transaction	On-market purchase of securities to fulfil the
	obligations of the RSP
Volume weighted average price per share	R4.5928
Lowest purchase price	R4.30
Highest purchase price	R4.60
Total value of transaction	R19 172 303.70
Nature and extent of interest	Indirect beneficial
Date of transaction	22 March 2022
Number of securities	212 940
Nature of transaction	On-market purchase of securities to fulfil the
	obligations of the RSP
Volume weighted average price per share	R4.1223
Lowest purchase price	R4.09
Highest purchase price	R4.20
Total value of transaction	R877 802.56
Nature and extent of interest	Indirect beneficial

Clearance to trade was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements.

* The price per share is the closing price of the L2D ordinary share on Friday, 28 February 2022.

Johannesburg

23 March 2022

Sponsor

Merchantec Capital

Investor Relations

Sumenthree Moodley

Contact number: 011 358 9171