The thing is it doesnt. It shows u an image that is still in LOG Space at 3whatsoever% grey. U would need to put a Slog2 to Rec709 on top of that picture.The idea is to overexpose the image ON THE CAMERA by two stops. Then use the LUT to show you what it looks like when you darken the image back down in post. That's it. That's all you really need to know.
The -2 LUT is no LUT at all in terms of changing colorspace to 709.
