SPEAR REIT LIMITED - Changes to existing security over shares held by an associate of a director

Changes to existing security over shares held by an associate of a director

SPEAR REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2015/407237/06)
Share Code: SEA
ISIN: ZAE000228995
LEI: 378900F76170CCB33C50
Approved as a REIT by the JSE
(“Spear” or “the Company”)

CHANGES TO EXISTING SECURITY OVER SHARES HELD BY AN ASSOCIATE OF A DIRECTOR

In terms of the JSE Listings Requirements, a dealing in securities is deemed to have occurred at the time that an
existing arrangement, which created an encumbrance over securities of an issuer, is amended.

Investec Bank Limited (“Investec”) refinanced an existing loan facility provided to Evlah Investments Proprietary
Limited (“Associate”), an associate of Quintin Michael Rossi (“Director”), in respect of which facility the
Associate had previously pledged and ceded 7 871 709 ordinary shares in Spear (“Pledged Shares”) as security.
The refinancing entailed the conclusion of a new loan facility (“New Facility”).

Accordingly, in compliance with the JSE Listings Requirements, details of the terms of the New Facility and the
encumbrance created over the Pledged Shares, are disclosed in the table below. While clearance in terms of the
JSE Listings Requirements was not required, the Associate nevertheless obtained such clearance prior to
concluding the New Facility.

 NAME OF DIRECTOR                                Quintin Michael Rossi
 COMPANY OF WHICH A DIRECTOR                     Spear REIT Limited
 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive
 TYPE AND CLASS OF SECURITIES                    Ordinary shares
 NATURE OF TRANSACTION                           The Pledged Shares serve as security for the repayment
                                                 obligations of the Associate to Investec, under the New Facility
 TRANSACTION DATE                                The New Facility agreements were concluded on
                                                 10 September 2026.
 NATURE AND AMOUNTS OF FINANCIAL                 The Associate’s financial obligations to Investec under the New
 OBLIGATIONS                                     Facility, include the repayment of the loan amount of
                                                 R45 million, plus fees and interest accrued thereon
 TERM OF FINANCIAL OBLIGATIONS                   36 months
 NUMBER OF SHARES PLEDGED                        7 871 709
 TOTAL DEEMED VALUE OF SHARES                    R99 183 533 (based on the closing share price of R12.60 on
 PLEDGED                                         10 September 2026)
 NAME OF ASSOCIATE                               Evlah Investments Proprietary Limited
 RELATIONSHIP WITH DIRECTOR                      The Director is a director of the Associate and a beneficiary of
                                                 the Associate’s sole shareholder
 NATURE AND EXTENT OF INTEREST IN                Indirect, beneficial
 THE TRANSACTION

Cape Town
15 September 2026

Sponsor
PSG Capital
Date: 15/09/2026 05:15:00
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