SPEAR REIT LIMITED - Cautionary Announcement Potential Acquisitions

Cautionary Announcement – Potential Acquisitions

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")

CAUTIONARY ANNOUNCEMENT – POTENTIAL ACQUISITIONS

Shareholders are advised that Spear has entered into negotiations with two unrelated third parties, neither of
which are a related party of Spear, in relation to two separate potential acquisitions by Spear of certain
immovable properties and related letting enterprises in line with its investment strategy within the Western
Cape.

Each of the potential acquisitions, if successfully concluded, is likely to constitute a category 2 acquisition in
terms of the JSE Listings Requirements and may have a material effect on the price of Spear's securities.
Should the terms of either of the potential acquisitions be agreed, Spear will immediately publish the requisite
Category 2 announcement in accordance with the JSE Listings Requirements.

Accordingly, shareholders are advised to exercise caution when dealing in Spear's securities until further
announcements are made in relation to the potential acquisitions.

Cape Town
23 July 2025

Sponsor and Corporate Advisor
PSG Capital

Date: 23-07-2025 12:00:00
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