FORTRESS REAL ESTATE INVESTMENTS LIMITED - Securities transfer tax in respect of the dividend in specie

Securities transfer tax in respect 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")


SECURITIES TRANSFER TAX IN RESPECT OF THE DIVIDEND IN SPECIE


Shareholders are referred to the declaration announcement released on SENS on 15 October 2024 (the "declaration
announcement") detailing the opportunity for shareholders to receive the dividend for the six months ended 30 June
2024 as a cash dividend of 70.19000 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.

As noted in the declaration announcement, Fortress B shareholders who have elected the dividend in specie are liable
for securities transfer tax ("STT") at the rate of 0.25% on the value of the NRP shares that are transferred to them,
calculated based on the closing NRP share price on 1 November 2024 (the "record date").

Fortress confirms that the closing NRP share price on the record date is R139.47 (being 13 947.00000 cents) and that
STT will be calculated by the CSDPs and brokers on this basis. Shareholders are advised to ensure that their relevant
CSDP or broker account has sufficient cash resources available for the STT to be paid to the South African Revenue
Service.

1 November 2024


Lead equity sponsor                                           Debt sponsor and joint equity sponsor
Java Capital                                                  Nedbank

Date: 01-11-2024 05:45:00
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.