LODESTONE REIT LIMITED - LODESTONE/FORTRESS - General offer to Lodestone shareholders unconditional

LODESTONE/FORTRESS - General offer to Lodestone shareholders unconditional

LODESTONE REIT LIMITED                                       FORTRESS INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)               (Incorporated in the Republic of South Africa)
(Registration number: 2010/017830/06)                        (Registration number: 2009/016487/06)
JSE share code: LDO ISIN: ZAE000197935                       JSE share codes: FFA  ISIN: ZAE000192787
(Approved as a REIT by the JSE)                                               FFB  ISIN: ZAE000192795
(“Lodestone”)                                                (Approved as a REIT by the JSE)
                                                             (“Fortress”)


GENERAL OFFER TO LODESTONE SHAREHOLDERS UNCONDITIONAL


Shareholders of Lodestone REIT Limited (“Lodestone”) are referred to the announcement, released on SENS on
19 September 2016, advising Lodestone shareholders that an offer circular (the “Fortress offer circular”) was posted
to Lodestone shareholders in respect of the general offer by Fortress (the “general offer”) to acquire all of the
Lodestone shares in issue by exchange of one Fortress A ordinary share and one Fortress B ordinary share for every
6.66667 Lodestone shares held (the “general offer consideration”).

Shareholders are advised that Fortress has received unconditional approval from the Competition Authorities, in terms
of the Competition Act, 89 of 1998, in relation to the acquisition of Lodestone by Fortress, thus fulfilling the condition
precedent to the general offer.

The general offer is open for acceptance and will remain open for at least 10 business days after announcement of the
closing date, which will be no earlier than 25 November 2016.

Lodestone shareholders who accept the general offer will receive the general offer consideration within 6 business
days of acceptance.

The maximum number of general offer consideration shares will be listed with effect from Monday,
14 November 2016.

10 November 2016


Corporate advisor and sponsor to Fortress and designated advisor to Lodestone
Java Capital
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