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Acceptance of Awards in Terms of The Spear REIT Limited Conditional Share Plan
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")
ACCEPTANCE OF AWARDS IN TERMS OF THE SPEAR REIT LIMITED CONDITIONAL SHARE PLAN
("CSP")
In compliance with the JSE Listings Requirements, the following information regarding the acceptance of
conditional awards, in terms of the Spear CSP, by directors and prescribed officers of Spear are disclosed:
1.
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 Off-market acceptance of conditional awards in terms
of the Spear CSP
AWARD DATE 22 May 2026
DATE OF ACCEPTANCE OF AWARDS 22 May 2026
NUMBER OF AWARDS ACCEPTED 284 409 restricted conditional awards
663 621 performance conditional awards
AWARD STRIKE PRICE Zero cost
TOTAL DEEMED VALUE OF AWARDS R12 409 712.70
ACCEPTED Based on the share price at closing price on the day
prior to acceptance of R13.09
VESTING DATE OF AWARDS 18 May 2030
NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial
TRANSACTION
2.
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 TRANSACTION Off-market acceptance of conditional awards in terms
of the Spear CSP
AWARD DATE 22 May 2026
DATE OF ACCEPTANCE OF AWARDS 22 May 2026
NUMBER OF AWARDS ACCEPTED 202 603 restricted conditional awards
472 740 performance conditional awards
AWARD STRIKE PRICE Zero cost
TOTAL DEEMED VALUE OF AWARDS R8 840 239.87
ACCEPTED Based on the share price at closing price on the day
prior to acceptance of R13.09
VESTING DATE OF AWARDS 18 May 2030
NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial
TRANSACTION
3.
NAME OF PRESCRIBED OFFICER Clifford Wade Toerien
COMPANY OF WHICH A PRESCRIBED Spear REIT Limited
OFFICER
TYPE AND CLASS OF SECURITIES Ordinary shares
NATURE OF TRANSACTION Off-market acceptance of conditional awards in terms
of the Spear CSP
AWARD DATE 22 May 2026
DATE OF ACCEPTANCE OF AWARDS 22 May 2026
NUMBER OF AWARDS ACCEPTED 131 922 restricted conditional awards
307 818 performance conditional awards
AWARD STRIKE PRICE Zero cost
TOTAL DEEMED VALUE OF AWARDS R5 756 196.60
ACCEPTED Based on the share price at closing price on the day
prior to acceptance of R13.09
VESTING DATE OF AWARDS 18 May 2030
NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial
TRANSACTION
4.
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 TRANSACTION Off-market acceptance of conditional awards in terms
of the Spear CSP
AWARD DATE 22 May 2026
DATE OF ACCEPTANCE OF AWARDS 22 May 2026
NUMBER OF AWARDS ACCEPTED 101 371 restricted conditional awards
236 533 performance conditional awards
AWARD STRIKE PRICE Zero cost
TOTAL DEEMED VALUE OF AWARDS R4 423 163.36
ACCEPTED Based on the share price at closing price on the day
prior to acceptance of R13.09
VESTING DATE OF AWARDS 18 May 2030
NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial
TRANSACTION
Clearance for the above was obtained in terms of the JSE Listings Requirements.
Cape Town
22 May 2026
Sponsor
PSG Capital
Date: 22-05-2026 04:00:00
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