SPEAR REIT LIMITED - Dealings in Shares By an Associate of a Director

Dealings in Shares 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")

DEALINGS IN SHARES BY AN ASSOCIATE OF A DIRECTOR

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following
information regarding the dealings in securities is disclosed:

 NAME OF DIRECTOR                                  Joan Solms

 COMPANY OF WHICH A DIRECTOR                       Spear REIT Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                   Independent non-Executive

 TYPE AND CLASS OF SECURITIES                      Ordinary shares

 NATURE OF TRANSACTIONS                            Purchase of shares by an associate of a
                                                   director
                                                   (on-market transactions)              (1-2)

 DATES OF TRANSACTIONS                             25 November 2025                        (1)
                                                   26 November 2025                        (2)

 PRICE PER SECURITY (CENTS)                        1 150                                   (1)
                                                   1 150                                   (2)

 NUMBER OF SECURITIES TRANSACTED                   10 000                                  (1)
                                                   10 000                                  (2)

 TOTAL RAND         VALUE     OF    SECURITIES     R115 000.00                             (1)
 TRANSACTED                                        R115 000.00                             (2)

 NAME OF ASSOCIATE                                 Salisbury Motors CC                      (1-2)

 ASSOCIATE'S RELATIONSHIP WITH SPOUSE              Spouse is a sole member of the associate
                                                                                            (1-2)

 NATURE AND EXTENT OF INTEREST IN THE              Indirect, non-beneficial                 (1-2)
 TRANSACTIONS

Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.

Cape Town
27 November 2025

Sponsor
PSG Capital

Date: 27-11-2025 11:00:00
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