X0306 4 2017-03-17 0 0001628063 Seritage Growth Properties SRG 0001214344 BERKOWITZ BRUCE R C/O FAIRHOLME CAPITAL MANAGEMENT, L.L.C. 4400 BISCAYNE BOULEVARD, 9TH FLOOR MIAMI FL 33137 0 0 1 0 Class A Common Shares, $0.01 par value 2017-03-17 4 P 0 3000 44.31 A 3705750 I See Footnote Class A Common Shares, $0.01 par value 2017-03-20 4 P 0 17000 44.32 A 3722750 I See Footnote Class A Common Shares, $0.01 par value 2017-03-21 4 J 0 76200 0.00 D 3646550 I See Footnote Class C Non-Voting Common Shares, $0.01 par value 2017-03-21 4 J 0 76200 0.00 A 5746085 I See Footnote Class C Non-Voting Common Shares, $0.01 par value 35850 D The reported securities are directly owned by The Fairholme Focused Income Fund (the "Fund"), a series of Fairholme Funds, Inc., managed indirectly by Mr. Bruce R. Berkowitz (the "Reporting Person"). The Reporting Person disclaims beneficial ownership in the Fund except to the extent of his pecuniary interest, if any, therein. The securities may be deemed to be beneficially owned by the Reporting Person because he controls the sole member of a registered investment adviser, which may be deemed to have beneficial ownership of the securities because it serves as the investment manager to separate series of a registered investment company and certain private funds and managed accounts. The Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. The securities are held in accounts managed indirectly by the Reporting Person and were converted to Class C Shares pursuant to the Exchange Agreement by and among Fairholme Capital Management, L.L.C and Seritage Growth Properties. The Reporting Person does not have any direct or indirect pecuniary interest in the managed accounts because the Reporting Person (i) does not receive any incentive compensation from the managed accounts and (ii) does not have a direct or indirect interest in the managed accounts. Bruce R. Berkowitz, By: /s/ Paul Thomson (Attorney-in-fact) 2017-03-21