As required in terms of Isle of Man law, NEPI Rockcastle shareholders will not have registered ownership of the NEPI Rockcastle shares that they receive pursuant to the return of capital. NEPI Rockcastle shares will instead be delivered to shareholders in the form of dematerialised security entitlements representing the beneficial ownership of such shares. References throughout this document to NEPI Rockcastle shares received or issued pursuant to the return of capital or to any shareholding in NEPI Rockcastle before or after the implementation of the return of capital should therefore be read as a reference to a receipt, issue or holding of security entitlements representing beneficial ownership of NEPI Rockcastle shares, and not to any registered ownership of NEPI Rockcastle shares. All NEPI Rockcastle shares are and will be registered in the name of Nederlands Centraal Instituut voor Giraal Effectenverkeer B.V. (“Euroclear Nederland”) for and on behalf of shareholders. NEPI Rockcastle shares traded on the JSE Limited (“JSE”) will be delivered in accordance with the rules of Strate Proprietary Limited and those traded on Euronext Amsterdam N.V. (“Euronext Amsterdam”) will be delivered in accordance with the rules of Euroclear Nederland.