SPEAR REIT LIMITED - Implementation Of Category 2 Acquisition Of Consani Industrial Park, Elsies River

Implementation Of Category 2 Acquisition Of Consani Industrial Park, Elsie’s River

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")

IMPLEMENTATION OF CATEGORY 2 ACQUISITION OF CONSANI INDUSTRIAL PARK, ELSIE'S RIVER

Shareholders are referred to the announcements published on SENS on 25 July 2025 and 23 October 2025,
regarding the acquisition by Spear of the properties known as the Remainder of Erf 21212, Erf 13336 and
Erf 13337, Goodwood, in the City of Cape Town, with all improvements thereon ("Property"), and the rental
enterprise known as the "Consani Industrial Park" conducted on the Property, as a going concern
("Acquisition") for a purchase consideration of R437 300 000.

Spear is pleased to advise that the implementation of the Acquisition was finalised on 2 December 2025
("Implementation Date"), on which date the transfer of ownership of the Property was registered into Spear's
name. On the Implementation Date, Spear's gross portfolio asset value increased to R6.8 billion, and Spear
had a market capitalisation of R4.9 billion. The Gross Lettable Area (GLA) of Spear's portfolio has now
increased to 625 019 m2 of high-quality Western Cape only assets. On the Implementation Date, Spear's Loan
to Value Ratio (LTV) is between 26% and 27%.

Cape Town
2 December 2025

Sponsor and Transaction Adviser                             Legal Advisor
PSG Capital                                                 ENSafrica

Date: 02-12-2025 10:45:00
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