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.

Evlah Investments Proprietary Limited (“Evlah”), an associate of the Director, transferred a number of Spear
shares held by it to another associate of the Director, Stretsons Capital Limited (“Stretsons”), as part of an
internal restructuring of the Director’s family investment portfolio, solely for purposes of estate planning, which
transfer does not affect the aggregate shareholding of the Director and his associates in Spear. Prior to the
aforementioned transfer, Stretsons sold a number of Spear shares in various unrelated on market transactions
and another associate of the Director, Rosvest Proprietary Limited (“Rosvest”), acquired Spear shares in an
unrelated on market transaction. As at 12 January 2024, the total shares held by the various associates of the
Director amounted to 8 173 263 or 3,3% of total gross Spear shares in issue.

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 TRANSACTIONS                              (1)   Sale of shares by an associate of the director (on-
                                                           market transactions)
                                                     (2)   Purchase of shares by an associate of the director
                                                           from another associate of the director (off-market
                                                           transaction)

 DATE OF TRANSACTIONS                                (1)   9 January 2024
                                                     (2)   10 January 2024

 PRICE OF SECURITY                                   (1)   Average: R8.2633
                                                           High: R8.30
                                                           Low: R8.24
                                                     (2)   R8.28

 NUMBER OF SECURITIES TRANSACTED                     (1)   20 000
                                                     (2)   19 500

 TOTAL RAND         VALUE      OF   SECURITIES       (1)   R165 266.00
 TRANSACTED                                          (2)   R161 460.00

 NAME OF ASSOCIATE                                   Stretsons Capital Limited a Global Business Company
                                                     incorporated under the laws of the Republic of Mauritius

 RELATIONSHIP WITH DIRECTOR                          Director is a director of the associate and a beneficiary of
                                                     the associate’s sole shareholder
NATURE AND EXTENT OF INTEREST IN THE   Indirect, beneficial
TRANSACTIONS


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                  Sale of shares by an associate of the director to another
                                       associate of the director (off-market transaction)

DATE OF TRANSACTION                    10 January 2024

PRICE PER SECURITY                     R8.28

NUMBER OF SECURITIES TRANSACTED        19 500

TOTAL RAND VALUE OF SECURITIES         R161 460.00
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       Indirect, beneficial
THE TRANSACTION


3.
 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                    9 January 2024

PRICE PER SECURITY (CENTS)             R8.24

NUMBER OF SECURITIES TRANSACTED        1 000

TOTAL RAND VALUE OF SECURITIES         R8 240.00
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
12 January 2024

Sponsor
PSG Capital