X0306 4 2019-05-24 0 0001628063 Seritage Growth Properties SRG 0001644905 Bry James Edwin 500 FIFTH AVENUE, SUITE 1530 NEW YORK NY 10110 0 1 0 0 See Remarks Class A Common Shares 2019-05-24 4 A 0 28 0 A 8987 D Represents a grant of Restricted Share Units ("RSUs") under the Seritage Growth Properties 2015 Share Plan to increase the number of RSUs attributable to "Tranche 2" 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, such that one-third were vested as of the date of grant and one-third will vest on each of May 2, 2020 and May 2, 2021. Includes 5,966 unvested RSUs and Restricted Shares, as of the date of this filing, after taking into account the transaction reported herein. EVP of Development and Construction /s/ Matthew E. Fernand, as attorney-in-fact 2019-05-29