SPEAR REIT LIMITED - Dealings by associates of directors

Dealings by associates of directors

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 by associates of directors


In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the dealings in securities by associates of directors 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 TRANSACTIONS                           Purchase of shares by an associate of
                                                  the director (on-market transactions)         (1-2)

 DATE OF TRANSACTIONS                             17 December 2025                             (1-2)

 PRICE PER SECURITY                               High:R11.60                                    (1)
                                                  Low: R11.59
                                                  Average: R11.60

                                                  R11.59                                         (2)

 NUMBER OF SECURITIES TRANSACTED                  500                                            (1)

                                                  2 600                                          (2)

 TOTAL RAND VALUE OF SECURITIES                   R5 800                                         (1)
 TRANSACTED
                                                  R30 134.00                                      (2)

 NAME OF ASSOCIATE                                Evlah Investments Proprietary Limited        (1-2)

 RELATIONSHIP WITH DIRECTOR                       Director is a director of the associate and a
                                                  beneficiary and trustee of the associate's sole
                                                  shareholder                                   (1-2)

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

2.
 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                            Purchase of shares by an associate of
                                                  the director
                                                  (on-market transaction)

 DATE OF TRANSACTION                              17 December 2025

 PRICE PER SECURITY                               R11.54

 NUMBER OF SECURITIES TRANSACTED                  500

 TOTAL RAND VALUE OF SECURITIES                   R5 770.00
 TRANSACTED

 NAME OF ASSOCIATE                                Rosvest Proprietary Limited

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

 NATURE AND EXTENT OF INTEREST IN                 Indirect, beneficial
 THE TRANSACTION


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

Cape Town
19 December 2025

Sponsor
PSG Capital

Date: 19-12-2025 02:20:00
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