We measured the polarized infrared reflectance of β‘-(ET)2SF5CF2SO3 as a function of temperature and analyzed the spin-exchange interactions of this salt by calculating the spin−orbital interaction energies between adjacent spin sites. The observed changes in vibrational properties below the 45 K transition support a weak lattice distortion in combination with a spin gap in this material. The spin-exchange interaction is predicted to occur primarily along the (−a +b) diagonal direction, in good agreement with the spectral data. In addition, notable frequency shifts of vibrational modes point to a second transition between 100 and 200 K. The low-lying electronic excitation in the stack direction (assigned as a charge-transfer feature based upon our electronic band structure calculations) shows distinct changes with temperature that are consistent with trends in the vibrational spectrum. The pattern of a high-temperature transition preceding the spin-Peierls transition is discussed in relation to other low-dimensional organic and inorganic materials.