Fortress REIT Limited - A (JSE:FFA) News - Impact of flooding and adverse weather conditions in KwaZulu-Natal on Fortress' operations

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
LEI: 378900FE98E30F24D975
(Approved as a REIT by the JSE)
("Fortress" or "the Company")


IMPACT OF FLOODING AND ADVERSE WEATHER CONDITIONS IN KWAZULU-NATAL ON FORTRESS' OPERATIONS


The KwaZulu-Natal province in South Africa has experienced severe weather conditions, including widespread flooding due
to heavy rainfall. This has and may continue to affect transport infrastructure and port operations in the area.

Shareholders and noteholders are advised that as of 13 April 2022, the following Fortress properties have been impacted by
the flooding in KwaZulu-Natal:

                                                                                Total Gross         Estimated affected
 Property name                                Sector                  Lettable Area ("GLA")                        GLA
 6 Prospecton Road Prospecton                 Logistics                            24 433m2                   11 271m2
 Otto Volek Road Pinetown                     Industrial                           18 296m2                   18 296m2
 Mahogany Road                                Logistics                            16 209m2                   16 209m2
 2 Joyner Road Prospecton                     Industrial                           16 035m2                   16 035m2
 *Total                                                                                                       61 811m2
 
 *Total affected GLA represents approximately 2% of the total portfolio.

To date only minor flood damage and no significant structural damage has been identified. Fortress is comprehensively
insured for events of this nature and will be working closely with all affected parties.

Fortress is deeply saddened by the loss of life and terrible impact of the recent floods on the KwaZulu-Natal community.

The Company continues to monitor the situation.

14 April 2022

Lead sponsor                      Joint sponsor                                     Debt Sponsor
Java Capital                      Nedbank Corporate and Investment Banking,         Rand Merchant Bank
                                  (a division of Nedbank Limited)                   (a division of FirstRand Bank Limited)
                                                                                            

Date: 14-04-2022 02:05:00
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