REDEFINE INTERNATIONAL PLC - Redefine International becomes UK's newest REIT

Redefine International becomes UK's newest REIT

REDEFINE INTERNATIONAL P.L.C.
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8V8G91
(“Redefine International” or “the Company”)


REDEFINE INTERNATIONAL BECOMES UK’S NEWEST REIT


Redefine International is pleased to confirm that, further to yesterday’s announcement, it has today converted to UK Real
Estate Investment Trust (“REIT”) status and has therefore become the UK’s newest REIT.

Based on the Company’s closing share price on 3 December 2013 and including 98,090,863 new ordinary shares to be
issued on Friday 6 December 2013, Redefine International’s expected market capitalisation of circa £580 million will
make it the UK’s 13th largest REIT by size. As at 31 August 2013, and as reported in its full year results on
29 October 2013, the Company’s total assets were £1.06 billion.

In its previous structure as an externally managed listed company, Redefine International had already delivered a strong
track record of providing investors with access to long-term, sustainable and predictable income backed by its investment
in a real estate portfolio which is well diversified both geographically and by sector. As a newly created UK-REIT, which
is internally managed, Redefine International therefore expects to:

-     benefit shareholders’ potential returns, as UK-REIT qualifying assets will be largely exempt from corporation tax
      in the UK on both rental profits and chargeable gains;
-     be available to a broader investor base than was previously possible, as some investors were unable to invest
      because of the previous structure; and
-     receive annual cost savings from no longer having to pay an external manager.

The Company’s highly income-generative portfolio is focused on five key sectors:

-     Stable income - predominantly comprising offices, many of which are let to UK Government tenants;
-     UK retail – regionally dominant shopping centres and convenience retail parks;
-     Hotels - branded limited service hotels located in London;
-     Europe – office and retail assets, predominantly situated in Germany; and
-     A 13.7% shareholding in Cromwell, one of Australia’s leading REITs.

The Company also looks at selective redevelopment and active asset management initiatives where there are opportunities
to support income and, ultimately, capital growth.

As a newly established UK-REIT, Redefine International will bring its highly income-focused opportunity to the
international investment community which is seeking yield in this low growth, low inflation environment. Furthermore,
with a dual listing on the Johannesburg Stock Exchange, the Company will provide South African investors with access to
the solid and economically secure first world property markets of the UK, Northern and Western Europe, including
Germany and Switzerland, as well as Australia.

Greg Clarke, Chairman of Redefine International, added:

“This is an exciting time for Redefine International. Becoming the UK’s newest REIT, with a simplified structure, should
enhance both the liquidity of our shares and the Company’s ability to distribute optimal returns for shareholders. Against
an improving outlook for real estate across our key markets and with a solid and diversified portfolio which already offers
considerable opportunity to add value, we look to the future with confidence and enthusiasm.”

Commenting, Mike Watters, Chief Executive of Redefine International, said:

“We are very pleased to have concluded the structural elements of becoming a REIT and look forward with enthusiasm to
using our property skills and insight to deliver superior income returns for our shareholders.”
For further information:

Redefine International P.L.C.
Michael Watters, Stephen Oakenfull                             Tel: +44 (0) 20 7811 0100

Investec Bank plc
Joint UK Sponsor and Joint Corporate Broker

David Anderson, Jeremy Ellis, Chris Sim                        Tel: +44 (0) 20 7597 5970

Peel Hunt
Joint UK Sponsor and Joint Corporate Broker
Capel Irwin, Hugh Preston                                      Tel: +44 (0) 20 7418 8900

Java Capital
JSE Sponsor and South African Corporate Adviser                Tel: +27 (0) 11 283 0042

FTI Consulting
UK Public Relations Adviser
Stephanie Highett, Dido Laurimore                              Tel: +44 (0) 20 7831 3113

Marketing Concepts
SA Public Relations Adviser
Jaclyn Lovell                                                  Tel: + 27 (0) 11 783 0700

Notes to editors:
-     Redefine International has a primary listing on the London Stock Exchange and a secondary listing on the
      Johannesburg Stock Exchange.
-     Income profits and capital gains of the qualifying property rental business of the REIT are exempt from UK
      corporation tax
-     The unique tax advantages offered by REITs can translate into superior yields for investors seeking higher returns
      with relative stability
-     A UK REIT must distribute 90% or more of its tax-exempt income profits, typically through dividends
-     Redefine International has a primary listing on the London Stock Exchange and a secondary listing on the JSE.

4 December 2013

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