Vesting, Exercise And Related Settlement Of Awards In Terms Of The Spear Reit Limited Conditional Share Plan 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") VESTING, EXERCISE AND RELATED SETTLEMENT OF AWARDS IN TERMS OF THE SPEAR REIT LIMITED CONDITIONAL SHARE PLAN In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information regarding the vesting and exercise of awards in terms of the Spear REIT Limited Conditional Shares Plan ("CSP") by directors and a prescribed officer of the Company are disclosed to shareholders. Upon the vesting and exercise of the awards, Spear elected to settle same on an after-tax net equity settlement basis, through the issue of new ordinary shares as detailed below: 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 Vesting of awards and related after-tax net-equity settlement through the issue of shares to the director at the closing share price on 28 June 2024 of R8.65 (off-market transaction) NUMBER OF SECURITIES ISSUED 138 600 DATE OF AWARD 1 July 2020 VESTING DATE 30 June 2024 SETTLEMENT DATE 8 July 2024 AWARD STRIKE PRICE Nil DEEMED PRICE PER SECURITY R8.65 (being the last closing share price on 28 June 2024, prior to the vesting date of 30 June 2024) TOTAL DEEMED RAND VALUE OF R1 198 890 SECURITIES TRANSACTED NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial TRANSACTION NAME OF DIRECTOR Christiaan Barnard COMPANY OF WHICH A DIRECTOR Spear REIT Limited STATUS: EXECUTIVE/NON-EXECUTIVE Executive TYPE AND CLASS OF SECURITIES Ordinary shares NATURE OF TRANSACTION Vesting of awards and related after-tax net-equity settlement through the issue of shares to the director at the closing share price on 28 June 2024 of R8.65 (off-market transaction) NUMBER OF SECURITIES ISSUED 138 600 DATE OF AWARD 1 July 2020 VESTING DATE 30 June 2024 SETTLEMENT DATE 8 July 2024 AWARD STRIKE PRICE Nil DEEMED PRICE PER SECURITY R8.65 (being the last closing share price on 28 June 2024, prior to the vesting date of 30 June 2024) TOTAL DEEMED RAND VALUE OF R1 198 890 SECURITIES TRANSACTED NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial TRANSACTION NAME OF PRESCRIBED OFFICER Clifford Wade Toerien COMPANY OF WHICH A PRESCRIBED Spear REIT Limited OFFICER TYPE AND CLASS OF SECURITIES Ordinary shares NATURE OF TRANSACTION Vesting of awards and related after-tax net-equity settlement through the issue of shares to the prescribed officer at the closing share price on 28 June 2024 of R8.65 (off-market transaction) NUMBER OF SECURITIES ISSUED 139 008 DATE OF AWARD 1 July 2020 VESTING DATE 30 June 2024 SETTLEMENT DATE 8 July 2024 AWARD STRIKE PRICE Nil DEEMED PRICE PER SECURITY R8.65 (being the last closing share price on 28 June 2024, prior to the vesting date of 30 June 2024) TOTAL DEEMED RAND VALUE OF R1 202 419 SECURITIES TRANSACTED NATURE AND EXTENT OF INTEREST IN THE Direct, beneficial TRANSACTION Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Cape Town 8 July 2024 Sponsor PSG Capital Date: 08-07-2024 08:00:00 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.