Change to the board of directors and change in function of director FORTRESS REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number 2009/016487/06) JSE share codes: FFA ISIN: ZAE000248498 FFB ISIN: ZAE000248506 LEI code: 378900FE98E30F24D975 Bond Company code: FORI (Approved as a REIT by the JSE) (“Fortress”) CHANGE TO THE BOARD OF DIRECTORS AND CHANGE IN FUNCTION OF DIRECTOR Shareholders are referred to the SENS announcement published on 5 March 2020 wherein it was announced that Dr Iraj Abedian, Fortress’ independent non-executive chairperson, had indicated his intention to retire from the board by the end of the financial year. Shareholders are advised Dr Abedian will retire as Fortress’ independent non-executive chairperson with effect from 30 June 2020, having served on the board and as chairperson of Fortress since 1 December 2015. The board of directors of Fortress expresses its appreciation for Iraj’s valuable contribution over the years and wishes him well with his future endeavours. Robin Lockhart-Ross has accordingly been appointed as independent non-executive chairperson of Fortress with effect from 1 July 2020. He was appointed to the board of Fortress as an independent non-executive director on 2 July 2018 and during his tenure has chaired the risk committee, the audit committee and the special subcommittee. Robin also serves as an independent non-executive director and chairperson of the board of Trematon Capital Investments Limited and an independent non-executive director of Heriot REIT Limited. Following his appointment as independent non-executive chairperson of Fortress, Robin will step down as chair of the audit committee. A further announcement in respect of the reconstitution of the board committees will be released on SENS in due course. 29 June 2020 Lead sponsor Java Capital Joint sponsor Nedbank Corporate and Investment Banking Date: 29-06-2020 09:43:00 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.