FORTRESS REAL ESTATE INVESTMENTS LIMITED - Results of the capitalisation issue

Results of the capitalisation issue

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 CAPITALISATION ISSUE


Shareholders are referred to the declaration of a cash dividend of 87.89 cents per Fortress B ordinary share ("FFB
share") for the six months ended 31 December 2025 (the "cash dividend") with an option for eligible Fortress B
shareholders to elect to receive new fully paid-up FFB shares (the "capitalisation shares") (the "capitalisation
issue"), published on SENS on 13 March 2026, and the announcement of the reference price per capitalisation
share (being 2 185.12493 cents per share) applicable to eligible Fortress B shareholders electing the capitalisation
issue, published on SENS on 23 March 2026.

Fortress B shareholders holding 151 312 682 FFB shares or 12.4% of FFB shares in issue (prior to the capitalisation
issue) who qualify to receive the cash dividend elected to receive the capitalisation shares, resulting in the issue of
6 086 068 new FFB shares, thereby retaining R132 988 716.21 in cash. Accordingly, the total number of FFB
shares in issue post the issue of the capitalisation shares pursuant to the capitalisation issue will be 1 224 336 457.

New FFB shares will be issued in dematerialised format only. Eligible Fortress B shareholders who elected the
capitalisation issue for all or part of their Fortress B shareholding will receive their new FFB shares on Tuesday,
7 April 2026.

In respect of shareholders who made no election, payment of the cash dividend will be made via electronic funds
transfer on Tuesday, 7 April 2026.

7 April 2026


Lead sponsor                                              Debt sponsor and joint equity sponsor
Java Capital                                              Nedbank Corporate and Investment Banking, 
                                                          a division of Nedbank Limited
Date: 07-04-2026 11:10:00
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