Dealing In Securities By Directors And Prescribed Officers: Acceptance Of Awards And Share Vesting 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”) DEALING IN SECURITIES BY DIRECTORS AND PRESCRIBED OFFICERS: ACCEPTANCE OF AWARDS AND SHARE VESTING ACCEPTANCE OF AWARDS BY DIRECTORS AND PRESCRIBED OFFICERS IN TERMS OF THE SPEAR REIT LIMITED CONDITIONAL SHARE PLAN In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the acceptance of conditional awards of performance and retention Spear shares in terms of the Spear Conditional Share Plan (“CSP”) is 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 CSP DATE OF ACCEPTANCE OF AWARDS 1 July 2022 AWARD DATE 1 July 2022 AWARD PRICE PER SECURITY (CENTS) Zero cost NUMBER OF AWARDS ACCEPTED 400 000 DEEMED VALUE R3,040,000 VESTING DATES OF AWARDS 30 June 2026 NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE 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 CSP DATE OF ACCEPTANCE OF AWARDS 1 July 2022 AWARD DATE 1 July 2022 AWARD PRICE PER SECURITY (CENTS) Zero cost NUMBER OF AWARDS ACCEPTED 400 000 DEEMED VALUE R3,040,000 VESTING DATES OF AWARDS 30 June 2026 NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE 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 CSP DATE OF ACCEPTANCE OF AWARDS 1 July 2022 AWARD DATE 1 July 2022 AWARD PRICE PER SECURITY (CENTS) Zero cost NUMBER OF AWARDS ACCEPTED 400 000 DEEMED VALUE R3,040,000 VESTING DATES OF AWARDS 30 June 2026 NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE 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 CSP DATE OF ACCEPTANCE OF AWARDS 1 July 2022 AWARD DATE 1 July 2022 AWARD PRICE PER SECURITY (CENTS) Zero cost NUMBER OF AWARDS ACCEPTED 200 000 DEEMED VALUE R1,520,000 VESTING DATES OF AWARDS 30 June 2026 NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION VESTING OF AWARDS TO DIRECTORS AND PRESCRIBED OFFICER IN TERMS OF THE SPEAR REIT LIMITED CONDITIONAL SHARE PLAN In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the vesting of performance and retention Spear shares in terms of the CSP: 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 vesting of shares obtained in terms of the CSP DATE OF AWARD 1 July 2018 PRICE PER SECURITY (CENTS) 760 NUMBER OF SECURITIES 219 579 TOTAL RAND VALUE OF SECURITIES R1,668,800.40 TRANSACTED DATE OF TRANSACTION 01 July 2022 NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE 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 vesting of shares obtained in terms of the Spear CSP Scheme DATE OF AWARD 1 July 2018 PRICE PER SECURITY (CENTS) 760 NUMBER OF SECURITIES 219 579 TOTAL RAND VALUE OF SECURITIES R1,668,800.40 TRANSACTED DATE OF TRANSACTION 01 July 2022 NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE 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 vesting of shares obtained in terms of the Spear CSP Scheme DATE OF AWARD 1 July 2018 PRICE PER SECURITY (CENTS) 760 NUMBER OF SECURITIES 221 375 TOTAL RAND VALUE OF SECURITIES R1,682,450 TRANSACTED DATE OF TRANSACTION 01 July 2022 NATURE AND EXTENT OF INTEREST IN Direct, beneficial THE TRANSACTION The date of vesting was 30 June 2022. Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Cape Town 1 July 2022 Sponsor PSG Capital Date: 01-07-2022 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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