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, details of the dealings in
securities by an associate of Quintin Michael Rossi ("Director") are disclosed in the table below.

The associate, which is a family investment vehicle acting for family members other than just the Director, disposed
of only a portion of the Spear shares held by it, solely for purposes of restructuring its investment portfolio and
complying with certain of its commitments. These dealings do not materially impact the Director's aggregate (direct
and indirect) beneficial shareholding in Spear.

 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 TRANSACTIONS                               Disposal of shares by an associate of the director
                                                      (on-market transactions)

 DATES OF TRANSACTIONS                                (1)   28 August 2025
                                                      (2)   29 August 2025

 PRICE PER SECURITY (CENTS)                           (1)   High: 1035
                                                            Low: 1034
                                                            Average: 1027,85
                                                      (2)   High: 1030
                                                            Low: 1025
                                                            Average: 1025.35

 NUMBER OF SECURITIES TRANSACTED                      (1)   34 668
                                                      (2)   57 928

 TOTAL RAND VALUE OF SECURITIES                       (1) R356 334.68
 TRANSACTED                                           (2) R593 962.20

 NAME OF ASSOCIATE                                    Rosvest Proprietary Limited

 RELATIONSHIP WITH DIRECTOR                           Director is a director of the associate, a director of a
                                                      shareholder of the associate and a beneficiary and trustee
                                                      of the ultimate shareholder of the associate

 NATURE AND EXTENT OF INTEREST IN THE                 Indirect, beneficial
 TRANSACTIONS

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

Cape Town
1 September 2025

Sponsor
PSG Capital

Date: 01-09-2025 05:15:00
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