Dealings in securities by a director and by an associate of a director of Fortress FORTRESS INCOME FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2009/016487/06) JSE share codes: FFA ISIN: ZAE000192787 FFB ISIN: ZAE000192795 (Approved as a REIT by the JSE) (“Fortress”) DEALINGS IN SECURITIES BY A DIRECTOR AND BY AN ASSOCIATE OF A DIRECTOR OF FORTRESS Shareholders are advised that on 22 February 2017, PSP Com Steven Brown, which indirectly held shares on behalf of Steven Brown, an alternate director of Fortress, transferred 2 550 Fortress A ordinary shares at a price of R17.50 per share for a total value of R44 625.00 and 8 550 Fortress B ordinary shares at a price of R35.35 per share for a total value of R302 242.50 (collectively “the Fortress A and B ordinary shares”) to Steven Brown, who now has a direct beneficial interest in the Fortress A and B ordinary shares. These transactions were conducted off-market and clearance to deal was obtained. Shareholders are further advised of the following information relating to the dealings in securities by a director of Fortress: Name of director: Steven Brown Transaction date: 22 February 2017 Class of securities: Fortress B ordinary shares Number of securities: 250 000 Nature of transaction: Off-market zero cost collar hedge over 250 000 Fortress B ordinary shares with a put strike price of R34.89 and a call strike price of R47.00 and with an expiry date of 22 February 2019 Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes 24 February 2017 Sponsor Java Capital Date: 24/02/2017 12:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.