FORTRESS REAL ESTATE INVESTMENTS LIMITED - Results of the dividend in specie

Results of the dividend in specie

FORTRESS REAL ESTATE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share code: FFB
ISIN: ZAE000248506
Bond company code: FORI
LEI: 378900FE98E30F24D975
("Fortress" or the "Company")


RESULTS OF THE DIVIDEND IN SPECIE


Shareholders are referred to the declaration announcement released on SENS on 15 October 2024 detailing the
opportunity for shareholders to receive the dividend for the six months ended 30 June 2024 as a cash dividend of
70.19 cents per Fortress B share (the "cash dividend"), or for eligible shareholders to elect to receive a dividend
in specie of ordinary shares in NEPI Rockcastle N.V. ("NRP shares") in respect of all or some of their Fortress B
shares in lieu of the cash dividend (the "dividend in specie"), or to elect to receive the dividend as a part cash
dividend and part dividend in specie.

Fortress B shareholders holding 914 547 886 Fortress B shares or 75.94% of Fortress B shares in issue who qualify
to receive the cash dividend, elected to receive the dividend in specie, resulting in:

-     the transfer of 6 054 285 NRP shares by Fortress (via its wholly-owned subsidiaries) to those eligible Fortress B
      shareholders who elected the dividend in specie in respect of all or some of their Fortress B shares; and
-     Fortress retaining R641 921 161.18 of cash not utilised to pay the cash dividend due to the aforementioned
      election.

The NRP shares transferred to shareholders in terms of the dividend in specie will be transferred in dematerialised
form only. Eligible Fortress B shareholders who elected the dividend in specie in respect of all or some of their
Fortress B shares will receive their NRP shares on Tuesday, 5 November 2024.

In respect of shareholders who made no election, payment of the cash dividend will be made via electronic funds
transfer on Tuesday, 5 November 2024.

5 November 2024


Lead sponsor                                              Debt sponsor and joint equity sponsor
Java Capital                                              Nedbank Corporate and Investment Banking, 
                                                          (a division of Nedbank Limited)
Date: 05-11-2024 02:00:00
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