REG-Grit Real Estate Income Group NAV GUIDANCE FOR THE 18 MONTHS ENDED 31 DECEMBER 2025, STRATEGIC TRANSACTION, DELAY IN PUBLICATION OF AUDITED ACCOUNTS AND TEMPORARY SUSPENSION OF LISTING

Grit Real Estate IncomeAnnouncement

29/04/2026 14:30

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   Grit Real Estate Income Group (GR1T)
   NAV GUIDANCE FOR THE 18 MONTHS ENDED 31 DECEMBER 2025, STRATEGIC
   TRANSACTION, DELAY IN PUBLICATION OF AUDITED ACCOUNTS AND TEMPORARY
   SUSPENSION OF LISTING

   29-Apr-2026 / 14:30 GMT/BST

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   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF  ARTICLE
   7 OF REGULATION  (EU) 596/2014 (AS  IT FORMS  PART OF UK  DOMESTIC LAW  BY
   VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).

    

   GRIT REAL ESTATE INCOME GROUP LIMITED

   (Registered in Guernsey)

   (Registration number: 68739)

   LSE share code: GR1T
                                                                             
   SEM share code: DEL.N0000

   ISIN: GG00BMDHST63

   LEI: 21380084LCGHJRS8CN05

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

    

   NAV  GUIDANCE  FOR  THE  18  MONTHS  ENDED  31  DECEMBER  2025,  STRATEGIC
   TRANSACTION, DELAY  IN  PUBLICATION  OF  AUDITED  ACCOUNTS  AND  TEMPORARY
   SUSPENSION OF LISTING

   The Board is providing  guidance on the Group’s  expected net asset  value
   (“NAV”) for  the 18-month  period  ended 31  December 2025,  announcing  a
   potential strategic transaction, and  informing shareholders of the  delay
   in publication of the Company’s audited accounts and temporary  suspension
   of the  Company’s  listing and  trading  pending further  clarity  on  the
   Group’s financial position and the potential transaction.

    

   NAV update

   The Group expects IFRS NAV at 31 December 2025 to be materially below  the
   level reported at 30 June 2025. IFRS NAV is expected to decline by between
   approximately 29% and 32% to between approximately US$25.1 cents per share
   and US$24.0  cents  per  share,  subject  to  final  audit  and  valuation
   adjustments.

   The movement principally reflects fair value losses across the  investment
   property portfolio, a  valuation loss on  owner-occupied property,  losses
   realised on  disposals  completed during  the  period and  the  impact  of
   elevated finance costs on the period results and retained equity.

   The  final  outcome  remains  sensitive  to  pricing  achieved  on  assets
   currently held for sale and on transactions under negotiation.

   Strategic transaction and deleveraging update

   As previously  announced,  Grit  continues to  face  persistent  headwinds
   including  rising  finance  costs  and  increasing  debt  liabilities.  In
   response,  the  Board  has  been  considering  a  range  of  disposal  and
   deleveraging options.

   In the course of exploring these options, the Board of Grit has received a
   formal written proposal  from its subsidiary,  Gateway Real Estate  Africa
   (“GREA”) backed  by a  strategic partner,  in respect  of certain  of  the
   Company’s assets and other subsidiaries (the “Potential Transaction”). The
   Board is  considering the  Potential Transaction  as a  credible route  to
   reducing debt levels and associated financing costs, preserving employment
   and supporting a growth strategy for GREA’s development business.

    

   Once further  progress is  made regarding  the Potential  Transaction  the
   board will be in  a position to provide  more detail to shareholders.  Any
   Potential Transaction, if it were to proceed, would be subject to, amongst
   other  things,  conditions  precedent,  including  regulatory  and  lender
   approvals and execution of definitive documentation.

   Continued lender support

   Major lenders have  continued to  support the  Group’s financial  position
   through previous, and the  consideration of further, maturity  extensions,
   repayment   standstills,   working   capital   provision   and    covenant
   condonements. Discussions with lenders, arising from requests made to  the
   lenders,  relating  to  covenant  compliance,  restructuring  options  and
   potential amendments continue in parallel with this process.

   Appointment of Chief Restructuring Officer

   Against the backdrop  of the  proposed Transaction and  the Group’s  wider
   disposal strategy, the Board has resolved to appoint Mr Michael Dorn as an
   executive director and Chief Restructuring Officer to the Boards of Africa
   Property Development Managers (“APDM”), Grit Real Estate Investment  Group
   Limited (“GREIGL”), Grit  Services Limited (“GSL”)  and GREA  with  effect
   from 29  April  2026,  to provide  dedicated  oversight  of  deleveraging,
   liquidity management, stakeholder engagement and transaction execution.

   Further announcements in  relation to  the Potential  Transaction will  be
   made as appropriate.

   Delay in  publication  of Audited  Accounts  and temporary  suspension  of
   listing of Ordinary Shares

   In the  circumstances  described  above, the  Board  determined  that  the
   Company will not be in a position to publish its financial results for the
   18-month period ended  31 December  2025 (the “Financial  Results”) by  30
   April 2026,  being  the  latest  date permitted  for  publication  of  the
   Financial Results under DTR 4.1.3R. Accordingly, the Company has requested
   that the  Financial  Conduct  Authority (“FCA”)  temporarily  suspend  the
   listing of its ordinary shares, with effect from 7:30 am on 1 May 2026. In
   view of  the suspension  on the  primary exchange,  the Company  has  also
   formally requested a  suspension of  dealings from the  Stock Exchange  of
   Mauritius Ltd (“SEM”).

    

   The Board considers  this suspension  to be  appropriate in  light of  the
   significance of the  Potential Transaction  (including the  impact of  the
   Transaction on  the  financial  statements  as a  whole,  if  it  were  to
   complete) and the fact that the Company is still currently in the  process
   of  finalising  its  financial  statements  before  informing  the  market
   accordingly.

    

   The Company  will seek  restoration  of the  listing  and trading  of  its
   ordinary shares following  the publication of  its Financial Results.  The
   Company will provide further announcement(s) in due course. 

    

   The Company has also made an application  to the SEM to seek an  extension
   for the publication of the Financial Results. A follow-up communique  will
   be released by the Company once all requisite approvals are secured.

    

   Responsibility statement

   This announcement is the  responsibility of the  Board and management  and
   has not been reviewed or reported on by the Group’s auditors.

    

   By Order of the Board

   29 April 2026

    

    

    

   FOR FURTHER INFORMATION, PLEASE CONTACT:

   Grit Real Estate Income Group Limited                      
   Bronwyn Knight, Chief Executive Officer                   +230 269 7090
   Morne Reinders, Investor Relations                        +27 82 480 4541
                                                              
   Cavendish Capital Markets Limited - UK Financial Adviser   
   Tunga Chigovanyika/ Edward Whiley (Corporate Finance)     +44 20 7220 5000
   Justin  Zawoda-Martin  / Daniel   Balabanoff  /   Pauline +44 20 3772 4697
   Tribe (Sales)
                                                              
   Perigeum Capital Ltd - SEM Authorised Representative  and  
   Sponsor
   Shamin A. Sookia
                                                             +230 402 0894
   Rukhsaar Lallmahomed
                                                             +230 402 0893
    
                                                              
                                                              
                                                              
                                                              

   NOTES:

   Grit Real Estate Income Group Limited is a pan-African impact 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-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 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 www.grit.group

   Directors:  Nigel  Nunoo+   (Chairman), Bronwyn  Knight (Chief   Executive
   Officer) *, Hugo Jordaan (Chief Financial Officer) *, Michael Dorn  (Chief
   Restructuring Officer) *, David  Love+, Catherine McIlraith+, and  Lynette
   Finlay+

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

   Company secretary: Intercontinental Fund Services Limited

   Corporate service provider: Mourant Governance Services (Guernsey) Limited

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

   Registrar and transfer agent (Mauritius): Onelink Ltd

   SEM authorised representative and sponsor: Perigeum Capital Ltd

   UK Transfer secretary: MUFG Corporate Markets

   This notice is issued pursuant to the FCA Listing Rules, SEM Listing  Rule
   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.

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by  1 EQS Group.
   The issuer is solely responsible for the content of this announcement.

   View original content:  2 EQS News

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   ISIN:          GG00BMDHST63
   Category Code: SUS
   TIDM:          GR1T
   LEI Code:      21380084LCGHJRS8CN05
   Sequence No.:  425739
   EQS News ID:   2318148


    
   End of Announcement EQS News Service

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References

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