X0306 4 2020-05-13 0001628063 Seritage Growth Properties SRG 0001646992 Rottler Mary 500 FIFTH AVENUE, SUITE 1530 NEW YORK NY 10110 true EVP of Leasing & Operations Class A Common Shares 2020-05-13 4 A 0 403 0 A 22124 D Represents a grant of Restricted Share Units ("RSUs") under the Seritage Growth Properties 2015 Share Plan to adjust the number of RSUs attributable to "Tranche 3" of the time-vested portion of the 2018 Incentive Award pursuant to the terms of such award. These additional RSUs have the same vesting schedule as the RSUs originally granted under the 2018 Incentive Award which vested or will vest in three substantially equal installments on May 2, 2019, May 2, 2020 and May 2, 2021; therefore two-thirds of the additional RSUs were considered vested as of the date of grant and one-third will vest on May 2, 2021. Includes 5,387 unvested RSUs, as of the date of this filing, after taking into account the transaction reported herein. /s/ Matthew E. Fernand, as attorney-in-fact 2020-05-15