Dealings in securities by directors and by the company secretary of Fortress FORTRESS REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number 2009/016487/06) JSE share codes: FFA ISIN: ZAE000248498 FFB ISIN: ZAE000248506 Bond company code: FORI (Approved as a REIT by the JSE) (“Fortress” or “the company”) DEALINGS IN SECURITIES BY DIRECTORS AND BY THE COMPANY SECRETARY OF FORTRESS Shareholders are advised of the following information relating to dealings in securities by a director of Fortress: Name of director: Steven Brown Transaction date: 11 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 35 000 Highest traded price per security on the R19.98 market on the day Weighted average price per security: R19.66571 Lowest traded price per security on the R19.61 market on the day Total value: R688 300.00 Nature of transaction: On-market sale Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Steven Brown Transaction date: 10 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 35 000 Price per security: R7.17 Total value: R250 950.00 Nature of transaction: On-market purchase Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Steven Brown Transaction date: 11 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 50 000 Price per security: R7.50 Total value: R375 000.00 Nature of transaction: On-market purchase Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Shareholders are further advised of the following information relating to the acceptance of award shares, awarded in terms of the rules of the Fortress REIT Limited Long Term Incentive Plan (“the Plan”), which will vest in equal tranches over a 4-year period with a final vesting date of 30 October 2023, subject to the vesting conditions contained in the rules of the Plan. Name of director: Steven Brown Transaction date: 12 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 72 000 Price per security: RNil Total deemed value: R1 479 600.00 (at a deemed price per security of R20.55) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Steven Brown Transaction date: 12 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 72 000 Price per security: RNil Total deemed value: R620 640.00 (at a deemed price per security of R8.62) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Vuso Majija Transaction date: 12 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 58 300 Price per security: RNil Total deemed value: R1 198 065.00 (at a deemed price per security of R20.55) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Vuso Majija Transaction date: 12 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 58 300 Price per security: RNil Total deemed value: R502 546.00 (at a deemed price per security of R8.62) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Donnovan Pydigadu Transaction date: 12 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 58 300 Price per security: RNil Total deemed value: R1 198 065.00 (at a deemed price per security of R20.55) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Donnovan Pydigadu Transaction date: 12 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 58 300 Price per security: RNil Total deemed value: R502 546.00 (at a deemed price per security of R8.62) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Ian Vorster Transaction date: 12 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 58 300 Price per security: RNil Total deemed value: R1 198 065.00 (at a deemed price per security of R20.55) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Ian Vorster Transaction date: 12 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 58 300 Price per security: RNil Total deemed value: R502 546.00 (at a deemed price per security of R8.62) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of company secretary: Tamlyn Stevens Transaction date: 12 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 34 300 Price per security: RNil Total deemed value: R704 865.00 (at a deemed price per security of R20.55) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of company secretary’s Direct beneficial interest: Clearance to deal received: Yes Name of company secretary: Tamlyn Stevens Transaction date: 12 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 34 300 Price per security: RNil Total deemed value: R295 666.00 (at a deemed price per security of R8.62) Nature of transaction: Off-market acceptance of award shares in terms of the Plan Nature and extent of company secretary’s Direct beneficial interest: Clearance to deal received: Yes Shareholders are further advised of the following information relating to the acceptance of shares under a purchase offer and concomitant debt in terms of the rules of the Plan, which will vest in equal tranches over a 4-year period with a final vesting date of 30 October 2023, subject to the vesting conditions contained in the rules of the Plan: Name of director: Steven Brown Transaction date: 12 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 72 000 Price per security: R20.55 Total deemed value: R1 479 600.00 Nature of transaction: Off-market acceptance of shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Steven Brown Transaction date: 12 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 72 000 Price per security: R8.62 Total deemed value: R620 640.00 Nature of transaction: Off-market acceptance of shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Ian Vorster Transaction date: 12 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 58 300 Price per security: R20.55 Total deemed value: R1 198 065.00 Nature of transaction: Off-market acceptance of shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of director: Ian Vorster Transaction date: 12 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 58 300 Price per security: R8.62 Total deemed value: R502 546.00 Nature of transaction: Off-market acceptance of shares in terms of the Plan Nature and extent of director’s interest: Direct beneficial Clearance to deal received: Yes Name of company secretary: Tamlyn Stevens Transaction date: 12 December 2019 Class of securities: Fortress A ordinary shares Number of securities: 34 300 Price per security: R20.55 Total deemed value: R704 865.00 Nature of transaction: Off-market acceptance of shares in terms of the Plan Nature and extent of company secretary’s Direct beneficial interest: Clearance to deal received: Yes Name of company secretary: Tamlyn Stevens Transaction date: 12 December 2019 Class of securities: Fortress B ordinary shares Number of securities: 34 300 Price per security: R8.62 Total deemed value: R295 666.00 Nature of transaction: Off-market acceptance of shares in terms of the Plan Nature and extent of company secretary’s Direct beneficial interest: Clearance to deal received: Yes 12 December 2019 Lead sponsor Java Capital Joint sponsor Nedbank Corporate and Investment Banking Date: 12-12-2019 04:40:00 Produced by the JSE SENS Department. 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