Grit Real Est. Regulatory News (GR1T)

CONVERSION TO STERLING QUOTATION ON LSE

COMPLETION OF JSE DELISTING

PRIMARY LISTING MOVES TO THE LSE

Shareholders of Grit ("Shareholders") are advised that the Company today completed its delisting from the Main Board of the Johannesburg Stock Exchange, as referred to in the announcements by the Company on 10 and 24 July 2020. The Company now has its primary listing on the standard segment of the London Stock Exchange ("LSE") and a secondary listing on the Stock Exchange of Mauritius ("SEM").

As referred to in the delisting circular dated 11 June 2020 ("Circular"), the Company is seeking eligibility to the UK FTSE Index series and therefore it continues to consider redomiciling its corporate seat to Guernsey, stepping up to the premium listing segment of the Main Market of the LSE and converting to a Sterling quotation on the LSE.

In this regard, the Company today announces that as of 3 August 2020, trading of its shares on the Main Board of the LSE will convert to a Sterling quotation. This quotation will exist alongside the Company's existing US Dollar quotation in Mauritius on the SEM.

Bronwyn Corbett, Chief Executive Officer of Grit, said:

"We are very pleased to convert to a Sterling-denominated quote on the London Stock Exchange. This is expected to enable UK-oriented investors better access to Grit's shares, to support the Group's eligibility for inclusion in the FTSE UK Index Series, to significantly improve liquidity in the Company's shares and to further diversify Grit's investor base. All of which aligns with our increasing focus on the UK capital markets to support our exciting African growth and to provide shareholders with attractive risk adjusted returns over the short and longer term."

The existing ISIN will apply for both the Sterling Quote on the LSE and the US Dollar Quote on the SEM and the current SEDOL and Tickers will remain unchanged. There will be no changes to the legal form or nature of the Company's shares nor to the reporting currency of the Company's financial statements, which will remain in USD.

In the future, the GBP Sterling equivalent of the US Dollar net asset value per share will be presented, for information purposes only, alongside the US Dollar net asset value per share, at the GBP:USD spot rate on the close of business on the net asset value calculation date.

All dividends will continue to be declared in US Dollars and the default currency for dividend payments will remain US Dollars, however, Shareholders on the LSE will continue to have option of receiving dividend payments in GBP Sterling by making a dividend currency election. Further information regarding such elections will be announced with dividend declarations and additional information will be available on the Company's website at http://grit.group under the Investor Centre section in due course.

By order of the Board

29 July 2020

FOR FURTHER INFORMATION PLEASE CONTACT:

The Company's LEI is: 21380084LCGHJRS8CN05

NOTES:

Grit Real Estate Income Group Limited is a leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets in carefully selected African countries (excluding South Africa). These high-quality assets are underpinned by predominantly US$ and Euro denominated long-term leases with a wide range of blue-chip multi-national tenant covenants across a diverse range of robust property sectors.

The Company is committed to delivering strong and sustainable income for Shareholders, with the potential for income and capital growth. The Company is targeting a net total shareholder return inclusive of net asset value growth of 12.0% per annum.*

The Company currently holds primary listing on the Main Market of the London Stock Exchange (LSE: GR1T), while its listing on the Official Market of the Stock Exchange of Mauritius Ltd is termed as a secondary listing (SEM: DEL.N0000).

Further information on the Company is available at http://grit.group/

* These are targets only and are not a profit forecast, there can be no assurance that they will be met. Any forward-looking statements and the assumptions underlying such statements are the responsibility of the board of directors of the Company and have not been reviewed or reported on by the Company's external auditors.

Directors:

Peter Todd+ (Chairman), Bronwyn Corbett (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, Nomzamo Radebe, Catherine McIlraith+, David Love+, Sir Samuel Esson Jonah+, and Bright Laaka (Permanent Alternate Director to Nomzamo Radebe)

(* Executive Director) (+ independent Non-Executive Director)

Company secretary: Intercontinental Fund Services Limited

Registered address: c/o Intercontinental Fund Services Limited, Level 5, Alexander House, 35 Cybercity, Ebène, 72201, Mauritius

Registrar and transfer agent (Mauritius): Intercontinental Secretarial Services Limited

UK Transfer secretary: Link Asset Services

SEM authorised representative and sponsor: Perigeum Capital Ltd

This notice is issued pursuant to the LSE Listing Rules, SEM Listing Rule 11.3 and the Mauritian Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the information contained in this communiqué.