FORTRESS REAL ESTATE INVESTMENTS LIMITED - Dealings in securities by directors

Dealings in securities by directors

FORTRESS REAL ESTATE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/016487/06)
JSE share code: FFB
ISIN: ZAE000248506
Bond company code: FORI
LEI: 378900FE98E30F24D975
("Fortress" or the "Company")


DEALINGS IN SECURITIES BY DIRECTORS


As part of their overall annual remuneration packages, the executive directors of Fortress are eligible to receive
short-term incentive cash bonus payments, the outcome and quantum of which are measured against
predetermined key performance indicators as disclosed in the 2024 Annual Integrated Report. The board has
resolved that, in respect of the financial year ended 30 June 2025, these short-term incentive cash bonuses will
instead be settled in Fortress B ordinary shares ("FFB shares"), to be issued in terms of the rules of the
Company's Conditional Share Plan ("CSP").

Shareholders and noteholders are accordingly advised of the following information in respect of the acceptance
of awards by the executive directors of Fortress in terms of the CSP. The awards will vest on 30 September 2025,
subject to the regular vesting conditions contained in the rules of the CSP. In addition, the executive directors
will not be permitted to dispose of these FFB shares for a period of 18 months from the date of issuance of the
FFB shares. The deemed price per security for purposes of determining the awards is R22.20.

Name of director:                                  Steven Brown
Transaction date:                                  17 September 2025
Class of securities:                               FFB shares
Number of securities:                              352 163
Deemed price per security:                         R22.20
Total value:                                       R7 818 018.60
Nature of transaction:                             Off-market acceptance of awards in terms of the CSP
Nature and extent of director's interest:          Direct beneficial
Clearance to deal received:                        Yes

Name of director:                                  Vuso Majija
Transaction date:                                  17 September 2025
Class of securities:                               FFB shares
Number of securities:                              249 870
Deemed price per security:                         R22.20
Total value:                                       R5 547 114.00
Nature of transaction:                             Off-market acceptance of awards in terms of the CSP
Nature and extent of director's interest:          Direct beneficial
Clearance to deal received:                        Yes

Name of director:                                  Ian Vorster
Transaction date:                                  17 September 2025
Class of securities:                               FFB shares
Number of securities:                              277 919
Deemed price per security:                         R22.20
Total value:                                       R6 169 801.80
Nature of transaction:                             Off-market acceptance of awards in terms of the CSP
Nature and extent of director's interest:          Direct beneficial
Clearance to deal received:                        Yes

17 September 2025


Lead equity sponsor                                Debt sponsor and joint equity sponsor
Java Capital                                       Nedbank Corporate and Investment Banking, 
                                                   a division of Nedbank Limited

Date: 17-09-2025 05:10:00
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