SPEAR REIT LIMITED - Dealings in Securities by Directors, Associates of Directors and a Prescribed Officer of The Company

Dealings in Securities by Directors, Associates of Directors and a Prescribed Officer of The Company

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")

DEALINGS IN SECURITIES BY DIRECTORS, ASSOCIATES OF DIRECTORS AND A PRESCRIBED
OFFICER OF THE COMPANY

Shareholders are referred to the declaration of a cash dividend for the year ended 28 February 2026, with
an election to reinvest the cash dividend in return for Spear shares ("Dividend Reinvestment Alternative"),
the results of which were announced on Monday, 8 June 2026.

Shareholders are hereby advised of the following information relating to dealings in securities by directors,
associates of directors and a prescribed officer of Spear pursuant to the Dividend Reinvestment Alternative:

1.
 NAME OF DIRECTOR                                Christiaan Barnard

 COMPANY OF WHICH A DIRECTOR                     Spear REIT Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                 Executive

 TYPE AND CLASS OF SECURITIES                    Ordinary shares

 NATURE OF DEALING                               Off-market reinvestment in terms of the Dividend
                                                 Reinvestment Alternative

 NUMBER OF SECURITIES ISSUED                     20 086

 PRICE PER SECURITY                              R13.00426

 TOTAL RAND VALUE OF DEALING                     R261 203.57

 NAME OF ASSOCIATE                               CBJB Investments Proprietary Limited

 RELATIONSHIP WITH DIRECTOR                      Director is a director and a shareholder of the associate

 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
 THE DEALING



2.
 NAME OF PRESCRIBED OFFICER                      Kim Pfaff- Karg

 COMPANY OF WHICH A PRESCRIBED                   Spear REIT Limited
 OFFICER

 TYPE AND CLASS OF SECURITIES                    Ordinary shares

 NATURE OF DEALING                               Off-market reinvestment in terms of the Dividend
                                                 Reinvestment Alternative

 NUMBER OF SECURITIES ISSUED                     3 613

 DEEMED PRICE PER SECURITY                       R13.00426

 TOTAL RAND VALUE DEALING                        R46 984.39

 NAME OF ASSOCIATE                               Bear and Bulls CC

 RELATIONSHIP WITH PRESCRIBED                    Prescribed officer is the sole member of the associate
 OFFICER

 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
 THE DEALING


3.
 NAME OF DIRECTOR                                Joan Solms

 COMPANY OF WHICH A DIRECTOR                     Spear REIT Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                 Non-Executive

 TYPE AND CLASS OF SECURITIES                    Ordinary shares

 NATURE OF DEALING                               Off-market reinvestment in terms of the Dividend
                                                 Reinvestment Alternative

 NUMBER OF SECURITIES ISSUED                     171

 DEEMED PRICE PER SECURITY                       R13.00426

 TOTAL RAND VALUE DEALING                        R2 223.73

 NATURE AND EXTENT OF INTEREST IN                Direct, beneficial
 THE DEALING


4.
 NAME OF DIRECTOR                              Joan Solms

 COMPANY OF WHICH A DIRECTOR                   Spear REIT Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE               Non-Executive

 TYPE AND CLASS OF SECURITIES                  Ordinary shares

 NATURE OF DEALING                             Off-market reinvestment in terms of the Dividend
                                               Reinvestment Alternative

 NUMBER OF SECURITIES ISSUED                   3 084

 DEEMED PRICE PER SECURITY                     R13.00426

 TOTAL RAND VALUE DEALING                      R40 105.14

 NAME OF ASSOCIATE                             Salisbury Motors

 RELATIONSHIP WITH DIRECTOR                    Spouse is a sole member of the associate

 NATURE AND EXTENT OF INTEREST IN              Indirect, beneficial
 THE DEALING

5.
 NAME OF DIRECTOR                             Michael Naftali Flax

 COMPANY OF WHICH A DIRECTOR                  Spear REIT Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE              Non-Executive

 TYPE AND CLASS OF SECURITIES                 Ordinary shares

 NATURE OF DEALING                            Off-market reinvestment in terms of the Dividend
                                              Reinvestment Alternative

 NUMBER OF SECURITIES ISSUED                  8 911

 DEEMED PRICE PER SECURITY                    R13.00426

 TOTAL RAND VALUE DEALING                     R115 880.96

 NAME OF ASSOCIATE                            Easy Shoes Pty Ltd

 RELATIONSHIP WITH DIRECTOR                   Director is a director of the associate and a beneficiary
                                              and trustee of the associate's sole shareholder

 NATURE AND EXTENT OF INTEREST IN             Indirect, beneficial
 THE DEALING

Clearance for the above was obtained in terms of the JSE Limited Listings Requirements.

Cape Town
10 June 2026

Sponsor
PSG Capital

Date: 10-06-2026 11:00:00
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