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 A DIRECTOR In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, details of the dealings in securities by associates of Quintin Michael Rossi (“Director”) are disclosed in the tables below. The Director’s associates, Evlah Investments Proprietary Limited and Rosvest Proprietary Limited transacted in the shares of Spear through various on market transactions. The transactions formed part of an internal restructuring of certain aspects of the Director’s company and family investment portfolio and for purposes of settling certain financial obligations. The disposal is not material to the aggregate shareholding of the Director and his associates in Spear, and following the dealings, the Director and his associates will still hold more than 3,34% of the issued shares in Spear. 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 Disposal of shares by an associate of the director (on-market transaction) DATE OF TRANSACTION 30 October 2023 PRICE PER SECURITY (CENTS) 760 NUMBER OF SECURITIES TRANSACTED 70 000 TOTAL RAND VALUE OF SECURITIES R532 000.00 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 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 2 November 2023 PRICE PER SECURITY (CENTS) 760 NUMBER OF SECURITIES TRANSACTED 25 614 TOTAL RAND VALUE OF SECURITIES R194 666.40 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 THE Indirect, beneficial TRANSACTION Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Cape Town 3 November 2023 Sponsor PSG Capital