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”) DEALING 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 dealing in securities is disclosed: 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 January 2023 PRICE PER SECURITY (CENTS) 765 NUMBER OF SECURITIES TRANSACTED 2 000 TOTAL RAND VALUE OF SECURITIES R15 300.00 TRANSACTED NAME OF ASSOCIATE Rosvest Proprietary Limited RELATIONSHIP WITH DIRECTOR Director is a director of the associate, a director of a shareholder of the associate and a beneficiary and trustee of ultimate 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 20 January 2023 Sponsor PSG Capital