Sharenet Sites 
Sharenet Sites
Dealings in securities by directors and by the company secretary
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 AND BY THE COMPANY SECRETARY
Capitalisation issue
Shareholders and noteholders are referred to the declaration of a cash dividend for the six months ended
31 December 2025, with an option for eligible Fortress B shareholders to elect to receive new fully paid-up Fortress
B shares ("FFB shares") (the "capitalisation shares"), the results of which election were announced on Tuesday,
7 April 2026 (the "capitalisation issue"). Shareholders and noteholders are hereby advised of the following
information relating to dealings in securities by directors and by the company secretary of Fortress in terms of the
capitalisation issue:
Name of director: Steven Brown
Transaction date: 2 April 2026
Class of securities: FFB shares
Number of securities: 190 945
Deemed price per security: R21.8512493
Deemed total value: R4 172 386.80
Nature of transaction: Off-market acceptance of capitalisation shares
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Vuso Majija
Transaction date: 2 April 2026
Class of securities: FFB shares
Number of securities: 112 642
Deemed price per security: R21.8512493
Deemed total value: R2 461 368.42
Nature of transaction: Off-market acceptance of capitalisation shares
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of director: Ian Vorster
Transaction date: 2 April 2026
Class of securities: FFB shares
Number of securities: 124 748
Deemed price per security: R21.8512493
Deemed total value: R2 725 899.65
Nature of transaction: Off-market acceptance of capitalisation shares
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
Name of company secretary: Tamlyn Stevens
Transaction date: 2 April 2026
Class of securities: FFB shares
Number of securities: 62 761
Deemed price per security: R21.8512493
Deemed total value: R1 371 406.26
Nature of transaction: Off-market acceptance of capitalisation shares
Nature and extent of company secretary's interest: Direct beneficial
Clearance to deal received: Yes
Pledge and cession of FFB shares
Shareholders and noteholders are referred to previous SENS announcements regarding a pledge and cession of
FFB shares by Steven Brown as security for a loan of R34 million (the "financial obligation"), the last of which
was published on 7 October 2025.
Shareholders and noteholders are advised that Steven Brown has pledged an additional 190 945 FFB shares such
that an aggregate number of 4 938 235 FFB shares have now been pledged as security for the financial obligation,
and the facility limit remains R34 million. The terms of the loan remain unchanged. There is no fixed repayment
date, and the loan is callable on 30 days' notice. Details of the additional FFB shares pledged as security for the
financial obligation are as follows:
Name of director: Steven Brown
Transaction date: 7 April 2026
Class of securities: FFB shares
Number of securities: 190 945
Deemed price per security*: R22.42
Deemed total value: R4 280 986.90
Nature of transaction: Off-market pledge and cession of FFB shares as security
for the financial obligation
Nature and extent of director's interest: Direct beneficial
Clearance to deal received: Yes
* Closing price on 2 April 2026
7 April 2026
Lead sponsor Debt sponsor and joint equity sponsor
Java Capital Nedbank Corporate and Investment Banking,
a division of Nedbank Limited
Date: 07-04-2026 11:20:00
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.
