Conditional share plan performance conditions and dealings in securities by directors of Fairvest FAIRVEST LIMITED (Incorporated in the Republic of South Africa) JSE share code: FTA ISIN: ZAE000304788 JSE share code: FTB ISIN: ZAE000304796 LEI: 378900E93AFC4D1CAD45 (Granted REIT status with the JSE) ("Fairvest" or the "Company") CONDITIONAL SHARE PLAN PERFORMANCE CONDITIONS AND DEALINGS IN SECURITIES BY DIRECTORS OF FAIRVEST In Fairvest's 2023 Integrated Annual Report published on 30 January 2024 it was stated that the Remuneration Committee (the "Committee") was in the process of performing a market benchmarking exercise in order to determine more appropriate long-term incentive performance conditions (the "Performance Conditions") linked to the Conditional Share Plan ("CSP"). This exercise has been completed and the board of directors of Fairvest and the Committee, have approved revised Performance Conditions. The vesting of the awards will be subject to service conditions and the achievement of the following Performance Conditions: Criteria Weighting Threshold (50%) Target (100%) Stretch (143.5%) Relative shareholder 35% Greater than 30th Greater than 45th Greater than 60th return percentile percentile percentile Absolute 35% Less than negative Equal to benchmark Exceeding shareholder return 1% benchmark by 1% Vacancy 30% Less than 6% Less than 5.5% Less than 5% The Performance Conditions are calculated as follows: Relative shareholder return ("RSR") RSR = (closing 90-day volume weighted average price ("VWAP") – opening 90-day VWAP) + distribution per share ("DPS") for the period/opening 90-day VWAP. The VWAP is calculated with reference to the 3-year measurement period being 30 September 2023 for the opening VWAP and 30 September 2026 for the closing VWAP. This calculation is based on the Fairvest B share price and disregards movement in the Fairvest A share price. The calculated RSR of Fairvest is then compared to a selected peer group of comparable REIT's to determine in which percentile Fairvest's performance falls relative to this peer group. Absolute shareholder return ("ASR") ASR = (closing 90-day VWAP – opening 90-day VWAP) + DPS for the period/opening 90-day VWAP. The ASR is then compared to the Benchmark. The Benchmark is equal to the average daily R186 Government Bond yield over the same 3-year period + 300 basis points. Vacancy Vacancy is measured at the closing reporting period date, being 30 September 2026 using the definition as per the SA REIT Association's Best Practice Recommendations. Each Performance Condition will be measured independently. There will be 0% vesting for the applicable Performance Condition in the case that achievement is below Threshold level. Linear interpolation will be applied for performance between Threshold, Target and Stretch. Accordingly, shareholders are advised that the executive directors of Fairvest, have been awarded, and have accepted, conditional rights to a specified number of "B" Shares in the Company ("Performance Shares") in terms of the CSP. Name of director: Darren Wilder Transaction date: 28 March 2024 Class of securities: Fairvest B ordinary shares Number of securities awarded: 1 748 906 Total deemed value of transaction: R6 435 974.08 (at a deemed price per security of R3.68) Nature of transaction: Off-market acceptance of Performance Shares in terms of the CSP Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: Jacques Kriel Transaction date: 28 March 2024 Class of securities: Fairvest B ordinary shares Number of securities awarded: 1 132 625 Total deemed value of transaction: R4 168 060.00 (at a deemed price per security of R3.68) Nature of transaction: Off-market acceptance of Performance Shares in terms of the CSP Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes 2 April 2024 Sponsor Java Capital Date: 02-04-2024 05:20:00 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.