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Quarterly update

Incorporated in the Republic of South Africa
Registration number: 2012/129186/06
Share code: FDP
ISIN: ZAE000185260
(Freedom or the Company)


Shareholders are referred to the:
      last quarterly update, dated 15 November 2019; and
      SENS announcement, dated 30 June 2016, relating to the suspension of the Companys shares on the
       JSE Limited (JSE) (Suspension).

In line with paragraph 1.11(c) of the JSE Listing Requirements, the Company is obliged to give an update to the
market of the state of the affairs of the Company until the Suspension is lifted.

1. Finalisation of annual financial statements for the years ended February 2018 and 2019:

The Company released its audited annual financial statements for the year ended 28 February 2017 on SENS
on 29 January 2020. It is anticipated that the reviewed interim results for the six months ended 31 August
2017 will be released during next week. The Company is in the process of preparing the annual financial results
for the years ended 28 February 2018 and 2019.

The board is committed to the lifting of the Suspension and will endeavour to release the remaining
outstanding financial results as soon as possible.

2. Receipt of an expression of interest

On 2 September 2019 the Company announced that it had received an expression of interest from the South
African Housing and Infrastructure Fund to acquire all the issued shares of Freedom by way of a scheme of
arrangement, subject to a due diligence investigation. The expression of interest is subject to an exclusivity
period until 2 March 2020.

14 February 2020

Questco Corporate Advisory (Pty) Ltd

Date: 14-02-2020 09:00:00
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.

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