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 ASSOCIATES OF DIRECTORS In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the dealings in securities is disclosed: 1. 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 27 February 2023 PRICE PER SECURITY (CENTS) 730 NUMBER OF SECURITIES TRANSACTED 1 500 TOTAL RAND VALUE OF SECURITIES R10 950.00 TRANSACTED NAME OF ASSOCIATE Evlah Investments Proprietary Limited RELATIONSHIP WITH DIRECTOR Director is a director of the associate and a beneficiary and trustee of the associate’s sole shareholder NATURE AND EXTENT OF INTEREST IN THE Indirect, beneficial TRANSACTION 2. NAME OF DIRECTOR Abu Varachhia COMPANY OF WHICH A DIRECTOR Spear REIT Limited STATUS: EXECUTIVE/NON-EXECUTIVE Non-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 27 February 2023 PRICE PER SECURITY (CENTS) 730 NUMBER OF SECURITIES TRANSACTED 137 000 TOTAL RAND VALUE OF SECURITIES R1 000 100.00 TRANSACTED NAME OF ASSOCIATE MI Varachhia RELATIONSHIP WITH DIRECTOR Spouse of the director NATURE AND EXTENT OF INTEREST IN THE Indirect, non-beneficial TRANSACTION Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Cape Town 28 February 2023 Sponsor PSG Capital