Garreth Elston

Garreth Elston is an investment professional, with over 20 years of South African and
international investment experience. He has served as the portfolio manager of South
African and Global unit trust portfolios, proprietary funds, hedge funds, and private equity
property portfolios.

Currently Garreth is the founder and lead advisor for a specialist research and advisory
firm focused on real estate and infrastructure investments. Projects span investment
strategy, capital raising, M&A support, strategic development input and due diligence for
acquisitions, portfolio reviews, and published research coverage on South African and
global listed property companies. Mr Elston also advises on corporate finance
transactions, capital raising, and portfolio strategy for property-focused investment
vehicles internationally.

Winner of the Raging Bull Award in 2020 and 2021 for Best Global Real Estate Fund over 5 Years, as well as
2021 Best Offshore Global Real Estate Fund over 3 Years. Nominated as Fund Manager of the Year for 2021 in
the Global Properties Securities category by Money Management Australia. Nominated as HedgeNews Africa
Hedge Fund of the Year in Specialist Strategies in 2021. Funds he previously managed received global 5-Star
ratings from Morningstar on a global basis, and Garreth achieved a Citywire AA Manager rating.
Garreth previously served as the Deputy Chair and Chair of the Investment Analysts Society of Southern Africa
(IASSA); and Chair of the Corporate Finance and Corporate Presentations committees of the CFA Society
Toronto.

Garreth holds an MBA from the Rotman School of Management at the University of Toronto, an MA in
International Relations, and a BCom in Banking Management. He also studied Venture Capital and Private Equity
at the University of California Los Angeles (UCLA Anderson School). In addition to completing the Canadian
Securities Course, the Partners, Directors, and Senior Officers Course, he is a Certified Associate of the Institute
of Bankers in South Africa (CAIB SA), a Fellow of the Institute of Financial Markets (FIFM), and is a Chartered
Member (MRICS) of the Royal Institution of Chartered Surveyors. He has also completed the FSCA RE1, RE3,
and RE5 regulatory examinations in categories I II IIA III and IV.