CANCELLATION OF S413596 Cash payment in respect of fractional entitlements 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") CASH PAYMENT IN RESPECT OF FRACTIONAL ENTITLEMENTS Shareholders are referred to previous announcements relating to the election to receive the final dividend for the year ended 31 December 2018, either as a cash dividend or as a return of capital, the last of which was released on 9 April 2019. Where a shareholder elects to receive the return of capital by way of an issue of new NEPI Rockcastle shares, any entitlement to receive a fraction of a NEPI Rockcastle share will be rounded down to the nearest whole number, with a cash payment ("cash payment") made to the relevant shareholder in respect of the fraction. The value of a NEPI Rockcastle share to be utilised in determining the cash payment due to shareholders has been determined with reference to the volume weighted average traded price of a NEPI Rockcastle share on the JSE on Wednesday, 10 April 2019, discounted by 10%. On this basis, shareholders are advised that the gross value of a NEPI Rockcastle share to be utilised in determining the cash payment due to shareholders is ZAR 107.25539. For shareholders on the European register, this gross value is EUR 6.74350, being the aforementioned Rand value converted to Euro at the exchange rate of EUR1.00:ZAR 15.9050 announced on Tuesday, 9 April 2019. The receipt of the cash payment may have tax implications for shareholders. For those South African resident shareholders receiving the cash payment, such amount may be regarded as a foreign dividend and, if it is, may be subject to South African dividends tax at a rate of 20%, unless an exemption as set out in the South African Income Tax legislation applies. For shareholders liable to pay dividends tax at the rate of 20%, the net value of a NEPI Rockcastle share to be utilised in determining the cash payment due to shareholders is ZAR 85.80431. The salient dates and times announced on Thursday, 14 March 2019 remain unchanged. NEPI Rockcastle has a dual primary listing on the Main Board of the JSE and on Euronext Amsterdam. NEPI Rockcastle plc Mirela Covasa +40 21 232 1398 JSE sponsor Java Capital +27 11 722 3050 Euronext Listing Agent ING Bank +31 20 563 6799 Media Relations +44 20 7404 5959 Brunswick Group +27 11 502 73 00 nepirockcastle@brunswick.com 11 April 2019 Date: 11/04/2019 03:38:59 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.