SPEAR REIT LIMITED - Cautionary Announcement

Cautionary Announcement

SPEAR REIT LIMITED
(previously Arrow 2 Investments Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2015/407237/06)
(Share Code: SEA, ISIN ZAE000228995)
Approved as a REIT by the JSE
(“Spear” or “the Company”)

CAUTIONARY ANNOUNCEMENT

Shareholders are hereby advised that the Company has entered into
negotiations, which if successfully concluded may have a material effect
on the price of the Company’s securities.

Accordingly, shareholders are advised to exercise caution when dealing in
the Company’s securities until a full announcement is made.

Cape Town
14 September 2017

Sponsor
PSG Capital Proprietary Limited

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