FORTRESS REIT LIMITED - Update to the Financial Covenants Notification

Update to the Financial Covenants Notification

Fortress REIT Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2009/016487/06)
LEI: 378900FE98E30F24D975
Bond company code: FORI
(Approved as a REIT by the JSE)
(the “Issuer”)

UPDATE TO THE FINANCIAL COVENANTS NOTIFICATION

Further to the announcement released on SENS on 28 February 2022, in relation to the testing and
passing of the Issuer’s financial covenants applicable to the listed notes, the Issuer hereby confirms
that the Loan to Value Ratio was 39,0% as at 31 December 2021 and, in relation to the FIFG02, FIFG04
and FIFG05 notes, the step-up margin unencumbered asset cover ratio was 3,6 times as at
31 December 2021.

10 March 2022

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 10-03-2022 03:30:00
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