REG-Grit Real Estate Income Group NOTICE OF ANNUAL GENERAL MEETING

Grit Real Estate IncomeAnnouncement

Mon 11:00

============

   Grit Real Estate Income Group (GR1T)
   NOTICE OF ANNUAL GENERAL MEETING

   01-Dec-2025 / 11:00 GMT/BST

   ══════════════════════════════════════════════════════════════════════════

    

    

   GRIT REAL ESTATE INCOME GROUP LIMITED

   (Registered in Guernsey)

   (Registration number: 68739)

   LSE share code: GR1T
                                                      
   SEM share code: DEL.N0000 (USD) / DEL.C0000 (MUR)

   ISIN: GG00BMDHST63

   LEI: 21380084LCGHJRS8CN05

   (“Grit” or the “Company” or the the "Group")

    

    

                       NOTICE OF ANNUAL GENERAL MEETING,

                                        

                                 BOARD CHANGES

                                        

                                      AND

                                        

                                     UPDATE

                                        

    

   Notice is hereby given to the shareholders of Grit that the Annual General
   Meeting (“AGM”)  will  be  held  at  14h30  Mauritian  time  (10h30 United
   Kingdom time) on Monday, 22 December 2025 at Unity Building, The Precinct,
   M2 Junction, Grand Baie, Mauritius.

    

   The date on which shareholders must  be recorded in the share register  to
   be eligible to attend and vote at  the AGM is Thursday, 18 December  2025,
   with the last day to trade being Monday, 15 December 2025.

    

   The Notice of AGM 2025 and the  Form of Proxy were mailed to  shareholders
   or otherwise made available on Monday, 01 December 2025 and the Notice  of
   AGM 2025 is also available to  view and download on the Company's  website
   at:  1 https://grit.group/investor-relations/financial-results/.

    

   In accordance with Listing Rule 6.4.1,  copies of the documents have  been
   submitted to the Financial Conduct Authority and will shortly be available
   for inspection from the National Storage Mechanism at  2 National  Storage
   Mechanism | FCA.

    

   Board Changes

    

   As announced on 18  June 2025, the change  in financial year-end,  coupled
   with the  significant  recapitalisation initiatives  underway  across  the
   Group, has  required  the Board  to  reflect carefully  on  continuity  of
   leadership at this pivotal juncture.

    

   Peter Todd will remain  as Chairman until the  publication of the  Group’s
   results for the 18-month period ending 31 December 2025, when he will step
   down. This extended  hand over  period enables  the Company  to manage  an
   orderly and effective transition at  a time when stability and  continuity
   are of paramount importance.

    

   At the conclusion of this period and following publication of the  results
   on or before 30 April 2026, Peter Todd will hand over the role of Chairman
   to Mr Nigel Nunoo, currently an Independent Non-Executive Director.  Nigel
   has been deeply engaged in the Group’s governance and strategic oversight,
   and Grit  is  confident  that this  planned  succession  ensures  clarity,
   continuity, and a seamless transfer of responsibilities.

    

   Additionally, Mr Cross Kgosidiile has informed the Board that he will  not
   stand for re-election at this AGM. The Board extends its sincere thanks to
   Cross for  his dedicated  service and  his valued  contributions over  the
   years.

    

   Following Mr Kgosidiile  not offering himself  for re-election, the  Board
   will comprise seven directors, of whom four are independent.

    

   Mandatory Audit Rotation

    

   As part  of  Grit’s  ongoing  commitment to  robust  governance  and  best
   practice, the appointment of MacIntyre Hudson LLP (“MHA”), in  association
   with Baker Tilly  International (“Baker Tilly”),  as the Group’s  external
   auditors for the  2024/2025 financial  year marked the  conclusion of  the
   mandatory rotation of  PricewaterhouseCoopers LLP, who  had served as  the
   Group’s auditors since 2018.

    

   This transition aligns with the expectations of both the UK and  Mauritius
   Codes of Corporate Governance.  Shareholders will be  asked to ratify  the
   re-appointment of MHA and Baker Tilly at the AGM.

    

   As noted, earlier this  year, the Group  changed its accounting  reference
   date and financial year-end from 30  June to 31 December. This  adjustment
   ensures  closer  alignment   between  Grit’s  reporting   cycle  and   the
   operational cadence of the Group and its subsidiaries, while also enabling
   its new auditors to undertake a well-planned and efficient audit process.

    

   As a result of this transition, no resolutions relating to the adoption of
   financial statements are presented at  this AGM. The next audited  results
   will cover  the  18-month period  ending  31  December 2025  and  will  be
   published on or before 30 April 2026.

    

   Outlook and Capital Allocation

    

   The Group remains  resolutely focused on  accelerating debt reduction  and
   strengthening the balance sheet. Approximately US$200 million of  non-core
   assets have been identified for disposal, and Grit continues to engage  in
   negotiations on several key transactions.

    

   The disposal of Artemis Curepipe Hospital, which was expected to  complete
   within FY2025 has been delayed, however buyer interest remains strong, and
   the Investment  Committee  retains a  high  conviction on  the  successful
   conclusion of this transaction. This will  be in addition to the  disposal
   of the Tamassa Lux resort, which  remains categorised as a non-core  asset
   held for  sale. Proceeds  from these  disposals will  further support  the
   Company’s deleveraging objectives.

    

   Negotiations on the disposal of Grit's shareholding in Société Immobilière
   et de Gestion Hôtelière  du Cap Skirring,  the owner of  the Club Med  Cap
   Skirring resort in  Casamance, Senegal  is far progressed,  and the  Board
   expects to make a regulatory announcement in this regard shortly.

    

   At the  time of  writing, the  disposal  of Grit's  100% interest  in  VDE
   Housing Estate in  Tete Province, Mozambique  was in its  final stages.  A
   detailed regulatory announcement will be issued in the coming weeks.

    

   As with the disposal of Grit's  shareholding in the Club Med Cap  Skirring
   resort, the net proceeds from the VDE transaction will be applied  towards
   reducing debt.

    

   Grit continues to engage proactively with its funding partners, who remain
   supportive   of   the   Company’s   recapitalisation   programme.   Grit’s
   interest-rate hedging remains active,  prudent, and aligned to  prevailing
   market dynamics.

    

   The consolidation of core assets into specialised substructures is gaining
   momentum. This  approach is  designed to  further simplify  the  operating
   model, enhance  strategic optionality,  and attract  co-investment at  the
   platform  level,  particularly  from  development  finance   institutions.
   Alongside  this,  Grit’s   ongoing  operational  streamlining,   including
   targeted  outsourcing  and   the  deployment  of   improved  systems   and
   technology, continues to drive additional cost efficiencies.

    

    

   By Order of the Board

    

   01 December 2025

    

   FOR FURTHER INFORMATION, PLEASE CONTACT:

   Grit Real Estate Income Group Limited                      
   Bronwyn Corbett, 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 Tribe  +44 20 3772 4697
   (Sales)
                                                              
   Perigeum Capital Ltd - SEM Authorised Representative and
   Sponsor                                                    

    
   Shamin A. Sookia                                          +230 402 0894
   Darren Chinasamy                                          +230 402 0898
                                                              
                                                              
   Capital Markets Brokers Ltd - Mauritian Sponsoring Broker  
   Elodie Lan Hun Kuen                                       +230 402 0280

    

   NOTES:

   Grit Real Estate Income  Group Limited is  the leading 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: Peter Todd (Chairman), Bronwyn Corbett (Chief Executive
   Officer) *, Gareth Schnehage (Chief Financial Officer) *, David
   Love+, Catherine McIlraith+, Cross Kgosidiile, Lynette Finlay+ and Nigel
   Nunoo+.

   (* 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

   Mauritian Sponsoring Broker: Capital Markets Brokers Ltd

    

   This notice is issued pursuant to the FCA Listing Rules, SEM Listing Rules
   15.24 and 15.41 and  the Mauritian Securities Act  2005. The Board of  the
   Company accepts full  responsibility for the  accuracy of the  information
   contained in this communiqué.

    

    

    

    

    

   ══════════════════════════════════════════════════════════════════════════

   Dissemination of a Regulatory Announcement, transmitted by  3 EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   ISIN:          GG00BMDHST63
   Category Code: NOA
   TIDM:          GR1T
   LEI Code:      21380084LCGHJRS8CN05
   Sequence No.:  409901
   EQS News ID:   2238180


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=2e05c6f6b35cdc2a2a5a88a57d169947&application_id=2238180&site_id=reuters~~~6aa99418-46f7-48b9-89fd-959a8d2e4912&application_name=news
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=baa1aed10499ac3182da445c7264015e&application_id=2238180&site_id=reuters~~~6aa99418-46f7-48b9-89fd-959a8d2e4912&application_name=news
   3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f5d50dc7e8798b6eb177f7955e598e60&application_id=2238180&site_id=reuters~~~6aa99418-46f7-48b9-89fd-959a8d2e4912&application_name=news


============