Grit Real Estate Income : Communique

GRIT REAL ESTATE INCOME GROUP LIMITED

(Registered in Guernsey)

(Registration number: 68739)

LSE share code: GR1T

SEM share code (dual currency trading): DEL.N0000 (USD) / DEL.C0000(MUR)

ISIN: GG00BMDHST63

LEI: 21380084LCGHJRS8CN05

("Grit" or the "Company" and, together with its subsidiaries, the "Group")

RESULTS OF THE ANNUAL GENERAL MEETING

The board of Directors (the "Board") of Grit is pleased to announce that at the annual general meeting of the Company ("AGM") held at 1:00 p.m. Mauritian time (9:00 a.m. UK time) on Monday, 18th December 2023, all resolutions were passed. The detailed results of the voting are as follows:

		Votes
	Votes for	against
	resolution	resolution			Number of
	as a	as a		Number of	shares
	percentage	percentage		shares	abstained
	of total	of total		voted at	as a
	number of	number of		AGM as a	percentage
	shares	shares		percentage	of shares
	voted at	voted at		of shares in	in issue
	AGM	AGM		issue	(rounded
	(rounded to	(rounded to	Number of	(rounded to	to 2
Resolutions proposed	2 decimal	2 decimal	shares voted	2 decimal	decimal
at the AGM	places)*	places)*	at AGM	places)*	places)*
Ordinary Resolution	100.00%	0.00%	416,579,539	84.14%	0.00%
Number 1 - Receiving
and considering the
auditors' report and the
Integrated Annual Report
and the adoption of the
audited annual financial
statements
Ordinary Resolution	100.00%	0.00%	416,581,539	84.14%	0.00%
Number 2 - Appointment
of
PricewaterhouseCoopers
LLP as the
statutory auditors of the
Company
Ordinary Resolution	99.99%	0.01%	415,431,086	83.91%	0.24%
Number 3 - Re-election
of Peter Todd as a
Director of the Company
Ordinary Resolution	99.60%	0.40%	415,431,086	83.91%	0.24%
Number 4 - Re-election
of Bronwyn Knight as a
Director of the
Company
Ordinary Resolution	99.99%	0.01%	415,431,086	83.91%	0.24%
Number 5 - Re-election
of Catherine McIlraith as
a Director of the
Company

Ordinary Resolution	99.99%	0.01%	415,431,086	83.91%	0.24%
Number 6 - Re-election
of David Love as a
Director of the Company
Ordinary Resolution	99.99%	0.01%	415,431,086	83.91%	0.24%
Number 7 - Re-election
of Jonathan Crichton as
a Director of the
Company
Ordinary Resolution	99.99%	0.01%	415,431,086	83.91%	0.24%
Number 8 - Re-election
of Cross Kgosidiile as a
Director of the Company
Ordinary Resolution	99.99%	0.01%	415,431,086	83.91%	0.24%
Number 9 - Election of
Lynette Finlay as a
Director of the Company
Ordinary Resolution	71.40%	28.60%	416,510,039	84.13%	0.02%
Number 10 - Non-
binding advisory vote on
Grit's implementation
report on the
remuneration policy
Ordinary Resolution	96.16%	3.84%	403,479,970	81.50%	2.65%
Number 11 - Authority to
grant awards under the
LTIP
Special Resolution	96.43%	3.57%	405,502,586	83.92%	0.22%
Number 1 - Market
Purchase of Own Shares
/ Share buy back
Special Resolution	96.15%	3.85%	416,494,939	84.12%	0.02%
Number 2 - Authority to
issue shares for cash on
a non-pre-emptive
Basis
Special Resolution	96.42%	3.57%	399,408,536	80.67%	3.47%
Number 3 - Authority to
sell shares from treasury
for cash on a non-
preemptive
Basis

• Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld). Total number of shares in issue as at the date of the AGM was 495,092,339.

Engagement with Dissenting Shareholders

Shareholders are further advised that, whilst ordinary resolution number 10, relating to the non-binding advisory vote on Grit's implementation report on the remuneration policy, was supported by the majority of shareholders, the Company does recognise that it was voted against by 28.60% of the votes exercised by the Company's shareholders present in person or represented by proxy at the AGM.

The executives of Grit have taken this on board and are committed to achieving a greater understanding of the underlying reasons that has seen some shareholders being unable to support this resolution. The executives of Grit will initiate a consultation with the Company's shareholders including dissenting shareholders

on Wednesday, 17 January 2024 at 13.00 hours Mauritius time (09.00 hours UK time) via a telephone conference to further understand their position and perspectives on the resolution.

All shareholders are asked to confirm their participation to the company secretary by e-mail at [e-mail] no later than close of business on Wednesday 10 January 2024, who will provide dial-in details for the telephone conference. Shareholders are further invited to forward their concerns/questions on the remuneration policy to the company secretary in writing by close of business on Wednesday, 10 January 2024.

An update on the views received from shareholders and actions taken will be published no later than six months after the meeting with the dissenting shareholders.

In accordance with Listing Rules 9.6.2 and 9.6.3 of the UK Financial Conduct Authority ("FCA"), a copy of the resolutions passed at the AGM has been submitted to the FCA via the National Storage Mechanism and

will shortly be available to the public for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

By Order of the Board
18 December 2023
FOR FURTHER INFORMATION, PLEASE CONTACT:
Grit Real Estate Income Group Limited
Bronwyn Knight, Chief Executive Officer	[phone]
Darren Veenhuis, Investor Relations	[phone]
Cavendish Capital Markets Limited - UK Financial Adviser
William Marle/Teddy Whiley (Corporate Finance)	[phone]
Pauline Tribe (Sales)	[phone]
Perigeum Capital Ltd - SEM Authorised Representative and Sponsor
Shamin A. Sookia	[phone]
Kesaven Moothoosamy	[phone]
Capital Markets Brokers Ltd - Mauritian Sponsoring Broker
Elodie Lan Hun Kuen	[phone]

NOTES:

Grit Real Estate Income Group Limited is the leading pan-African woman led real estate company focused on investing in, developing 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-chipmulti-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 holds its primary listing on the Main Market of the London Stock Exchange (LSE: GR1T and a

dual currency trading secondary listing on the Stock Exchange of Mauritius (SEM: DEL.N0000 (USD) / DEL.C0000 (MUR)).

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

Directors: Peter Todd (Chairman), Bronwyn Knight (Chief Executive Officer)*, Leon van de Moortele (Chief Financial Officer)*, David Love+, Sir Samuel Esson Jonah+, Catherine McIlraith+, Jonathan Crichton+, Cross Kgosidiile and Lynette Finlay+.

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

Company secretary: Intercontinental Fund Services Limited

Registered address: PO Box 186, Royal Chambers, St Julian's Avenue, St Peter Port, Guernsey GY1 4HP

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

UK Transfer secretary: Link Market Services Limited

SEM authorised representative and sponsor: Perigeum Capital Ltd

Mauritian sponsoring broker: Capital Markets Brokers Ltd

This notice is issued pursuant to the FCA Listing Rules, SEM Listing Rules 15.24 and the Mauritian Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the information contained in this communiqué.