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VOLUNTARY UPDATE: DISPOSAL OF VDE HOUSING EST...
Grit Real Estate Income Group is acquiring the remaining 30 percent equity interest in Orbit Africa Logistics for a nominal US$2.00, consolidating full ownership of the Orbit platform in Nairobi, Kenya. This acquisition is immediately accretive to Grit’s net asset value, adding approximately 2 cents per share, and enhances the company's ability to manage operational stabilization, capital structure, and value recovery for shareholders. The company is also disposing of the VDE Housing Estate in Mozambique as part of its portfolio optimisation strategy. Disclaimer*
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Grit Real Estate Income Group (GR1T) VOLUNTARY UPDATE: DISPOSAL OF VDE HOUSING ESTATE AND ACQUISITION OF REMAINING INTEREST IN ORBIT AFRICA LOGISTICS FOR A NOMINAL CONSIDERATION 23-Dec-2025 / 12:30 GMT/BST 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") VOLUNTARY UPDATE: DISPOSAL OF VDE HOUSING ESTATE AND ACQUISITION OF REMAINING INTEREST IN ORBIT AFRICA LOGISTICS FOR A NOMINAL CONSIDERATION The Board of Directors (the “Board”) of Grit Real Estate Income Group Limited provides an update on the execution of transactions being advanced as part of the Group’s non-core asset disposal and portfolio optimisation strategy, including the disposal of the VDE Housing Estate in Mozambique and the acquisition of the remaining equity interest in Orbit Africa Logistics (“OAL”) in Nairobi, Kenya. Grit is a pan-African income real estate company focused on investing in, developing and actively managing a diversified portfolio of impact assets underpinned by predominantly US dollar and Euro denominated long-term leases to high-quality multinational tenants. ACQUISITION OF REMAINING 30% EQUITY STAKE IN ORBIT AFRICA LOGISTICS Introduction Grit, through its subsidiary, Bora Africa (“Bora Africa”), has resolved to acquire the remaining 30 percent equity interest in OAL for a nominal consideration of US$2.00. OAL is a Mauritian industrial real estate platform which indirectly owns a strategically located warehousing and manufacturing facility on Mombasa Road in Nairobi, Kenya (“Orbit”) one of the country’s primary industrial and logistics corridors, serving the port of Mombasa, the Inland Container Depot, and the broader East African region. The Orbit facility was originally acquired by Grit in 2021 as a 25-year US dollar denominated sale and leaseback transaction with Orbit Products Africa Limited (“OPAL”). Letlole la Rona Limited (“LLR”) a property company listed on the Botswana Stock Exchange invested into Orbit in July 2022 through the acquisition of 30 percent in OAL. Grit, through Bora Africa, has at all times acted as the asset manager of OAL and the underlying logistics asset. LLR participated as a finan...
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