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Implementation of Acquisition of Watergate Centre
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 ACQUISITION OF WATERGATE CENTRE
Shareholders are referred to the announcements published on SENS on 17 April 2026 and 3 July 2026
(“Announcements”), regarding the acquisition by Spear of the property known as Erf 62063 Mitchells Plain,
in the City of Cape Town (“Property”) and the rental enterprise known as the “Watergate Centre” conducted
on the Property (“Rental Enterprise”), as a going concern (“Acquisition”).
Spear is pleased to advise that the implementation of the Acquisition was finalised on 27 August 2026, on
which date the transfer of ownership of the Property was registered into Spear’s name.
As stated in the Announcements, the Acquisition will be accretive from the implementation date, with an
estimated initial yield attributable to Spear shareholders of 8.37%. The financial effects of the Acquisition have
not been factored into Spear’s current Distributable Income Per Share (DIPS) guidance for the financial year
ending 28 February 2027, as provided to the market in May 2026.
Cape Town
27 August 2026
Sponsor and Transaction Advisor Legal Advisor
PSG Capital ENSafrica
Date: 27/08/2026 09:40:00
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