TR-1: Standard Form For Notification Of Major Holdings GRIT REAL ESTATE INCOME GROUP LIMITED (Registered by continuation in the Republic of Mauritius) (Registration number: C128881 C1/GBL) LSE share code: GR1T SEM share code: DEL.N0000 JSE share code: GTR ISIN: MU0473N00036 (“Grit” or the “Company” or the “Group”) TR-1: STANDARD FORM FOR NOTIFICATION OF MAJOR HOLDINGS NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i 1a. Identity of the issuer or the underlying issuer of existing shares to which voting Grit Real Estate Income Group Ltd rights are attachedii: 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer X 2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rights X An acquisition or disposal of financial instruments An event changing the breakdown of voting rights Other (please specify)iii: 3. Details of person subject to the notification obligationiv Name M&G Plc City and country of registered office (if applicable) London, United Kingdom 4. Full name of shareholder(s) (if different from 3.)v Name City and country of registered office (if applicable) 5. Date on which the threshold was crossed 28/11/2019 or reachedvi: 6. Date on which issuer notified 02/12/2019 (DD/MM/YYYY): 7. Total positions of person(s) subject to the notification obligation % of voting rights % of voting rights Total number of through financial Total of both in % attached to shares voting rights of instruments (8.A + 8.B) (total of 8. A) issuervii (total of 8.B 1 + 8.B 2) Resulting situation on the date on which threshold 5.98% 0.00% 5.98% 316,235,546 was crossed or reached Position of previous notification (if N/A N/A N/A applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii A: Voting rights attached to shares Class/type of Number of voting rightsix % of voting rights shares Direct Indirect Direct Indirect ISIN code (if possible) (Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive 2004/109/EC) (DTR5.1) 2004/109/EC) 2004/109/EC) 2004/109/EC) (DTR5.2.1) (DTR5.1) (DTR5.2.1) ORD NPV (DI) 18,937,921 5.98% MU0473N00036 SUBTOTAL 8. A 18,937,921 5.98% B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) Number of voting rights that may Expiration Exercise/ be acquired if the % of voting Type of financial instrument datex Conversion Periodxi instrument is rights exercised/conver ted. SUBTOTAL 8. B 1 B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) Physical or Numbe Exercise/ Type of financial Expiration cash r of % of voting Conversion instrument datex voting rights Period xi settlementxii rights SUBTOTAL 8.B.2 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv X (please add additional rows as necessary) % of voting rights % of voting rights if it through financial Total of both if it equals Namexv equals or is higher than instruments if it equals or is higher than the the notifiable threshold or is higher than the notifiable threshold notifiable threshold M&G Plc (Parent Company) 5.98% 0.00% 5.98% M&G Group Limited 5.98% 0.00% 5.98% (wholly owned subsidiary of M&G Plc) M&G FA Limited 5.98% 0.00% 5.98% (wholly owned subsidiary of M&G Group Limited) M&G Investment Management Limited 5.98% 0.00% 5.98% (wholly owned subsidiary of M&G FA Limited) 10. In case of proxy voting, please identify: Name of the proxy holder N/A The number and % of voting rights held N/A The date until which the voting rights will be held N/A 11. Additional informationxvi Place of completion London, United Kingdom Date of completion 2nd December 2019 This notice is issued pursuant to the LSE Listing Rules, JSE Listings Requirements, SEM Listing Rule 11.3 and the Mauritian Securities Act 2005. The board of directors of the Company accepts full responsibility for the accuracy of the information contained in this communiqué. 3 December 2019 JSE Sponsor PSG Capital Date: 03-12-2019 12:00:00 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. 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