Finalisation Announcement of Interim Dividend

REDEFINE INTERNATIONAL P.L.C.

("Redefine International" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00B8BV8G91

FINALISATION ANNOUNCEMENT IN RESPECT OF THE INTERIM DIVIDEND

FOR THE SIX MONTHS ENDED 29 FEBRUARY 2016

Redefine International shareholders are referred to the announcement released on 26 April 2016 wherein they were advised that that the board of directors of the Company (the "board") had approved an interim dividend of 1.625 pence per share in respect of the six months ended 29 February 2016 and that the board intends offering shareholders a cash dividend or the election to receive a scrip dividend by way of an issue of new Redefine International shares (of the same class as existing shares) credited as fully paid up ("scrip dividend").

The Company is now pleased to announce as follows:

(i) Of the total UK dividend of 1.625 pence to be paid, whether as a cash dividend or scrip dividend:

- 1.3 pence (80%) will comprise a property income distribution ("PID"). The PID will be subject to a deduction of 20% UK withholding tax unless exemptions apply.

- 0.325 pence (20%) will comprise a non-PID. As a non-PID, this will be treated as an ordinary UK company dividend, with no withholding tax deducted.

(ii) The GBP to Rand conversion rate is 21.5022. Accordingly, the Rand equivalent of the cash dividend of 1.625 pence is 34.94108 ZAR cents. Of the total Rand equivalent dividend of 34.94108 ZAR cents to be paid, whether as a cash dividend or scrip dividend:

- 27.95286 ZAR cents (80%) will comprise a PID. The PID will be subject to a deduction of 20% UK withholding tax unless exemptions apply.

- 6.98822 ZAR cents (20%) will comprise a non-PID. As a non-PID, this will be treated as an ordinary UK company dividend, with no withholding tax deducted.

(iii) The scrip dividend reference price applicable to the scrip dividend is 44.239 pence, being 2% discount to the average closing price of Redefine International shares traded on the LSE over a period five days (less the amount of the cash dividend).

(iv) For shareholders on the South African share register who elect to participate in the scrip dividend, the scrip reference price equivalent is R9.51236.

The salient dates for payment of the dividend published in the announcement dated 26 April 2016 remain unchanged.

Further details on the scrip dividend are contained in the circular issued on 26 April 2016 (the "circular"), and the related election form, copies of which are available at www.redefineinternational.com. Terms defined in the circular shall bear the same meaning in this announcement.

(i) Shareholders receiving the cash dividend

Shareholders who do not make an election to receive shares will receive a cash dividend calculated as follows:

*Certain categories of UK shareholders may apply for exemption, in which case the PID element will be paid gross.

(ii) Shareholders who elect to receive shares

The number of shares to be allocated will be calculated by dividing the total value of the dividend otherwise receivable by the shareholder by the scrip dividend reference price. Any fractional entitlement which:

- is less than one half of a new Redefine International share, will be rounded down to the nearest whole number;

- is equal to or greater than one half of a new Redefine International share but less than a whole new Redefine International share, will be rounded up to the nearest whole number; and

- no fractions of scrip dividend shares will be issued, nor will any residual entitlements be carried forward to any future scrip dividend issue, and any amount of dividend not represented by scrip dividend shares will not be paid or payable to the relevant shareholders in respect of that dividend, but will be retained by the Company.

By way of illustration, the scrip dividend share calculation will be as follows for a shareholder who holds 100 shares:

* R is the equivalent of 100 ZAR cents.

(iii) Notes for shareholders on the South African share register

On application by shareholders on the South African share register, 5% of the 20% UK withholding tax deducted, in respect of the PID element of the cash dividend, is claimable from the UK's HM Revenue & Customs ("HMRC"), resulting in an effective UK withholding tax rate of 15%. The Company will account to HMRC in Pounds Sterling for the total UK withholding tax deducted. Settlement of any claims for refund will be calculated and settled in Pounds Sterling by HMRC.

For information on PIDs and refund claims, including claim forms and guidance on how to complete them, visit http://www.redefineinternational.com/investor-relations/real-estate-investment-trust/.

The number of shares in issue as at the declaration date was 1,766,155,123 ordinary shares of 8 pence each.

For further information:

Notes to editors:

Redefine International (RDI) is a FTSE 250 income focused UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.

The Group's investment portfolio is diversified across the retail, commercial and hotel sectors in the UK and Germany with an aggregate value in excess of £1.3 billion.

Redefine International is focused on delivering sustainable and growing income to shareholders through investment in income yielding assets let to high quality occupiers on long leases. Capital values are enhanced and protected by asset management and other low capex development activities.

As a UK-REIT, the Group aims to distribute the majority of its earnings available for distribution on a semi-annual basis, providing investors with attractive income returns as well as exposure to capital growth opportunities.

www.redefineinternational.com