Signature of non-binding letter of intent with regard to the disposal of an office portfolio NEPI Rockcastle plc Incorporated and registered in the Isle of Man Registered number 014178V Share code: NRP ISIN: IM00BDD7WV31 ("NEPI Rockcastle" or "the Company") SIGNATURE OF NON-BINDING LETTER OF INTENT WITH REGARD TO THE DISPOSAL OF AN OFFICE PORTFOLIO Shareholders are referred to the Company's business update published on 24 May 2019, wherein NEPI Rockcastle advised, inter alia, that the Company had initiated an open tender process for the sale of its Romanian office portfolio in order to focus on its investment strategy, being core dominant retail properties. Shareholders are advised that NEPI Rockcastle has signed a non-binding letter of intent ("letter of intent") with AFI Europe NV ("AFI Europe"), a wholly-owned subsidiary of Africa Israel Properties Limited. In terms of the letter of intent, the Company has today granted AFI Europe exclusivity with regard to conducting a due diligence exercise in respect of four type A office buildings with a book value of EUR309.2 million at 31 December 2018 forming part of NEPI Rockcastle's Romanian office portfolio, for a period of eight weeks from the date of signature of the letter of intent. The letter of intent is non-binding in nature and any transaction would be subject to completion of a sale and purchase agreement and the fulfilment of numerous conditions, including receipt of bank financing and regulatory and shareholder approvals to the extent required. Shareholders will be kept informed of progress in this regard. For further information please contact: NEPI Rockcastle plc Alex Morar + 40 21 232 1398 JSE sponsor Java Capital +27 11 722 3050 Euronext Listing Agent ING Bank +31 20 563 6799 Media Relations Brunswick Group +44 20 7404 5959 +27 11 502 7300 nepirockcastle@brunswickgroup.com 16 July 2019 Date: 16/07/2019 08:00:00 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. 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.