Results of the capitalisation issue

The announcement

Results of the capitalisation issue

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")

RESULTS OF THE CAPITALISATION ISSUE

Shareholders are referred to the declaration announcement released on SENS on 17 September 2026 in respect of
the cash dividend of 90.91 cents per Fortress B ordinary share ("FFB share") for the year ended 30 June 2026 (the
"cash dividend") with an option for eligible Fortress B shareholders to elect to receive new fully paid-up FFB
shares (the "capitalisation shares") (the "capitalisation issue"), as well as the reference price per capitalisation
share (being 2 400 cents per share) applicable to eligible Fortress B shareholders electing the capitalisation issue.

Fortress B shareholders holding 513 523 470 FFB shares, or 39.9% of FFB shares in issue (prior to the
capitalisation issue), who qualify to receive the cash dividend elected to receive the capitalisation shares, resulting
in the issue of 19 451 831 new FFB shares, thereby retaining R466 844 186.60 in cash. Accordingly, the total
number of FFB shares in issue post the issue of the capitalisation shares pursuant to the capitalisation issue will be
1 306 737 793.

New FFB shares will be issued in dematerialised format only. Eligible Fortress B shareholders who elected the
capitalisation issue for all or part of their Fortress B shareholding will receive their new FFB shares on Monday,
19 October 2026.

In respect of shareholders who made no election, payment of the cash dividend will be made via electronic funds
transfer on Monday, 19 October 2026.

19 October 2026

Lead sponsor                                               Debt sponsor and joint equity sponsor
Java Capital                                               Nedbank Corporate and Investment Banking,
                                                           a division of Nedbank Limited
Date: 19/10/2026 10:30:00
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.