NEPI ROCKCASTLE PLC - CANCELLATION OF S408623 Fitch confirms that Viceroy report is neutral to NEPI Rockcastles rating

CANCELLATION OF S408623 Fitch confirms that Viceroy report is neutral to NEPI Rockcastle’s rating

NEPI Rockcastle plc
Incorporated and registered in the Isle of Man
Registered number 014178V
JSE and Euronext share code: NRP
ISIN: IM00BDD7WV31
("NEPI Rockcastle" or "the Company")


FITCH CONFIRMS THAT VICEROY REPORT IS NEUTRAL TO NEPI ROCKCASTLE'S RATING


Following S&P Global Ratings' confirmation of NEPI Rockcastle's BBB/Stable/-- rating in response to the
publication of a report on NEPI Rockcastle by Viceroy Research (the "Viceroy Report"), Fitch Ratings
("Fitch") on 4 December 2018 confirmed that it views the allegations in the Viceroy Report as unsubstantiated
and therefore neutral to the Company's BBB/stable rating.

Referencing its 31 October 2018 affirmation of NEPI Rockcastle's ratings, Fitch notes: "Despite rapid growth,
the company has maintained a conservative financial profile with sound liquidity and a high degree of financial
flexibility […]. The Stable Outlook reflects our expectations that NEPI Rockcastle will continue its expansion,
while maintaining its conservative financial profile, by funding through a combination of debt and equity."

The complete text of the Fitch announcement can be accessed at https://nepirockcastle.com/wp-
content/uploads/2018/01/fitch-credit-rating-nov-2017.pdf.

For further information please contact:

 NEPI Rockcastle plc
 Alex Morar                                                         +40 21 232 1398

 Media relations                                                    +44 20 7404 5959 / + 27 11 502 7300
 Brunswick Group LLP                                                NEPI@brunswickgroup.com

 JSE sponsor
 Java Capital                                                       +27 11 722 3050

 Euronext Listing Agent
 ING Bank                                                           +31 20 563 6799

5 December 2018

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