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 10 March 2025 (the "declaration
announcement") detailing the opportunity for shareholders to receive the dividend for the six months ended
31 December 2024 as a cash dividend of 76.15000 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 28 March 2025 (the "record date").

Fortress confirms that the closing NRP share price on the record date is R131.67 (being 13 167.00000 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.

28 March 2025


Lead equity sponsor                                        Debt sponsor and joint equity sponsor
Java Capital                                               Nedbank Corporate and Investment Banking,
                                                           (a division of Nedbank Limited)

Date: 28-03-2025 05:40:00
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