FORTRESS REAL ESTATE INVESTMENTS LIMITED - Cancellation of treasury shares

Cancellation of treasury shares

FORTRESS REAL ESTATE INVESTMENTS LIMITED
(Formerly Fortress REIT Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share codes:        FFA ISIN: ZAE000248498
                        FFB ISIN: ZAE000248506
Bond company code:      FORI
LEI: 378900FE98E30F24D975
("Fortress" or the "Company")


CANCELLATION OF TREASURY SHARES


Shareholders are referred to the firm intention announcement published on SENS on 5 October 2023, as well as
the circular published on 30 November 2023 in respect of the Scheme and the FFA Conversion. Capitalised terms
in this announcement bear the same meaning as in the circular.

At the time of publication of the circular, Fortress had 26 861 996 FFA and 87 536 353 FFB treasury shares (the
"Subject Shares") in issue, all held by a wholly-owned subsidiary (the "Subsidiary"). Shareholders are advised
that on 6 December 2023, all of the Subject Shares were distributed by the Subsidiary to Fortress by way of a
distribution in specie at a deemed price of R13.70 per FFA share and R6.85 per FFB share (the "Distribution"),
and Fortress is now in position to implement the Treasury Share Cancellation.

Application has been made to the JSE for the delisting of the Subject Shares, which are expected to be delisted on
or about 12 December 2023. The Subject Shares will then revert to the authorised but unissued share capital of
Fortress.

Following the implementation of the Treasury Share Cancellation, Fortress will hold no treasury shares.

7 December 2023


Lead sponsor                          Joint sponsor
Java Capital                          Nedbank Corporate and Investment Banking, 
                                      a division of Nedbank Limited

Date: 07-12-2023 01:45:00
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