SPEAR REIT LIMITED - Voluntary Announcement Implementation Of Disposal Of Hamilton & Chiappini House

Voluntary Announcement – Implementation Of Disposal Of Hamilton & Chiappini House

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")

VOLUNTARY ANNOUNCEMENT – IMPLEMENTATION OF DISPOSAL OF HAMILTON & CHIAPPINI
HOUSE

Shareholders are referred to the announcement published on SENS on 12 May 2026, regarding the disposal
of the rental enterprise "Hamilton House" located on Erven 568 and 569 Cape Town, situated at 30 Waterkant
Street, De Waterkant, Cape Town and the rental enterprise "Chiappini House" located on Erven 571 and 583
Cape Town, situated at 26 Chiappini Street, De Waterkant, Cape Town (collectively "the Properties"), as
going concerns ("Disposal"), for a final disposal consideration equal to approximately of R108 million .

Spear is pleased to advise that the implementation of the Disposal was finalised on 13 July 2026, on which
date the transfer of ownership of the Properties were registered.

The Properties were acquired by Spear in October 2024, as part of the Category 1 Acquisition of the Western
Cape property portfolio of Emira Property Fund Limited, for an aggregate purchase consideration of
R80,750,000. The Disposal enabled Spear to crystallise value at a premium to the original acquisition price
within a relatively short holding period, at a disposal yield of 7.5%.

The Disposal further reduces Spears exposure to smaller, decentralised office assets and simplifies the overall
portfolio composition in line with management's strategy. The upliftment in value of approximately R27.25
million from the purchase consideration, added circa 5 cents to Spear's net asset value since acquisition of
the Properties.

Cape Town
13 July 2026

Sponsor and Transaction Advisor                               Legal Advisor
PSG Capital                                                   ENSafrica

Date: 13-07-2026 11:30:00
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