SEM listing authority and listing particulars

The board of Directors of Grit (the "Board") is pleased to announce that the Listing Executive Committee of the Stock Exchange of Mauritius Ltd (the "SEM") has approved, on 23 December 2020, a general authority for the issue and listing of up to 50,000,000 additional Grit shares on the Official Market of the SEM for cash and/or for acquisition issues in terms of private placements, at an offer price to be decided by the Board.

The share issuance authority and revised listing particulars are local requirements of the SEM and require annual renewal if unused. The SEM authority obtained remains subject to the relevant share issuance authorities being sought at the Company's annual general meeting, which is being held on 28 December 2020.

Shareholders should note that whilst the Listing Executive Committee of the SEM has approved the aforementioned general authority for the issue and listing of additional shares in terms of private placements, each actual issue and listing of additional shares will still be subject to the applicable Listing Rules of the London Stock Exchange.

As required by the SEM Listing Rules, the Listing Particulars of the Company as approved by the SEM, will be made available for inspection for at least ten (10) business days, during normal office hours (9:00 to 17:00 Mauritian time) at the registered office of the Company which is situated at c/o Intercontinental Fund Services Limited, Level 5, Alexander House, 35 Cybercity, Ebene 72201, Mauritius as from 24 December 2020. The Listing Particulars will also be available on the Company's website: http://grit.group/.

This announcement is not an invitation to the public to subscribe for shares in the Company and is provided for information purposes only.

By Order of the Board

24 December 2020

FOR FURTHER INFORMATION, PLEASE CONTACT:

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 net total shareholder return inclusive of NAV growth of 12.0% p.a.*

The Company currently holds a 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/

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

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

Company secretary: Intercontinental Fund Services Limited

Registered office 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

Sponsoring broker: Capital Markets Brokers Ltd

This notice is issued pursuant to the LSE Listing Rules, SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The Board accepts full responsibility for the accuracy of the information contained in this communication.