SPEAR REIT LIMITED - Dealings by an associate of a director

Dealings by an associate of a director

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 AN ASSOCIATE OF A DIRECTOR


In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information regarding the dealings in securities by associate of a director is disclosed:

 NAME OF DIRECTOR                                 Joan Solms

 COMPANY OF WHICH A DIRECTOR                      Spear REIT Limited

 STATUS: EXECUTIVE/NON-EXECUTIVE                  Non-executive

 TYPE AND CLASS OF SECURITIES                     Ordinary shares

 NATURE OF TRANSACTIONS                           Purchase of shares by an associate of a director
                                                  (on-market transactions)

 DATE OF TRANSACTIONS                             22 December 2025

 PRICE PER SECURITY                               High:R11.55
                                                  Low: R11.56
                                                  Average: R11.555

 NUMBER OF SECURITIES TRANSACTED                  5 000

 TOTAL RAND VALUE OF SECURITIES                   R57 775.00
 TRANSACTED

 NAME OF ASSOCIATE                                Salisbury Motors CC

 RELATIONSHIP WITH DIRECTOR                       Spouse is a sole member of the associate

 NATURE AND EXTENT OF INTEREST IN                 Indirect, beneficial
 THE TRANSACTIONS


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

Cape Town
23 December 2025

Sponsor
PSG Capital

Date: 23-12-2025 03:56:00
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.