Appointment Of Director SPEAR REIT 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”) APPOINTMENT OF DIRECTOR In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements, the board of directors of the Company (“the Board”) wishes to advise that Dr Rozett Phillips (“Roze’) has been appointed as an independent non-executive director Company with effect from 16 July 2018. Roze holds the position of Management Consulting lead and Geographic Council member for Accenture Africa, and Board member of Accenture South Africa. She also serves as the Innovation lead, creating the enablers for innovation on the continent. Roze has over 20 years’ experience in consulting to consumer related industry clients across the value chain with the intent of driving better strategic and sustainable outcomes while transforming business and improving wellbeing in Africa. With the advent of digital technologies, Roze now assists public and private sector clients to unlock the business and societal value that can be created through utilising these digital technologies. Roze is Executive Sponsor and member of the Board of Trustees for BORN to SUCCEED, a Public Benefit Organisation dedicated to helping young South African women with the necessary skills and mentorship to prepare for the workplace and find employment. Born in Cape Town, Roze holds an MBChB degree and an MBA degree from the University of Cape Town and a Postgraduate Diploma in Futures Studies from the University of Stellenbosch. Prior to joining Accenture, she was a medical doctor at Groote Schuur Hospital and a specialist scientist at the SA Medical Research Council. The Board welcomes Roze and looks forward to her contribution to the Company. Cape Town 16 July 2018 Sponsor PSG Capital Date: 16/07/2018 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.