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FIFG01 FIFG02 - Notice to FIFG01 and FIFG02 Noteholders in respect of a Margin Adjustment Event
Fortress REIT Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2009/016487/06)
LEI: 378900FE98E30F24D975
Bond company code: FORI
Bond code: FIFG01 ISIN: ZAG000178492
Bond code: FIFG02 ISIN: ZAG000178500
(Approved as a REIT by the JSE)
(“Fortress” or the “Issuer”)
NOTICE TO FIFG01 AND FIFG02 NOTEHOLDERS IN RESPECT OF A MARGIN ADJUSTMENT EVENT
This notice is delivered by the Issuer to each holder (collectively, the “Noteholders”) of the FIFG01 and
FIFG02 notes (collectively, the “Notes”) issued under the Fortress REIT Limited ZAR20 000 000 000
Domestic Medium Term Note Programme (the “Programme”), in accordance with condition 19 of the
Programme, in respect of a Margin Adjustment Event, pursuant to paragraph 2.2 of the FIFG01
applicable pricing supplement dated 30 July 2021 and paragraph 2.3 of the FIFG02 applicable pricing
supplement dated 30 July 2021 (collectively, the “pricing supplements”).
Unless otherwise defined, words and expressions used in this notice will bear the same meanings as
in the Programme, read with the pricing supplements for the Notes.
Noteholders are advised that a Margin Adjustment Event has occurred and, as confirmed by the KPI
Auditor (Deloitte and Touche) in the Independent Assurance Practitioner’s Limited Assurance Report
on Selected Key Performance Indicators ("Limited Assurance Report”) dated 28 October 2022, the KPI
Condition has been achieved as at 28 October 2022 by the Issuer. The Limited Assurance Report has
been included as an annexure to the notice that will be disseminated by the CSD.
The new margin that will be applicable to the Notes is detailed below:
Notes Margin Margin Adjustment Date
FIFG01 190 basis points 7 November 2022
FIFG02 230 basis points 7 November 2022
In respect of each Note, the margin stated above will be applicable for the interest period commencing
on the Margin Adjustment Date.
This notice is also being delivered to the CSD, for dissemination by them to the Participants and
Noteholders, in accordance with condition 19 of the Programme.
28 October 2022
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 28-10-2022 03:10:00
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