SPEAR REIT LIMITED - Acquisition Of Watergate Centre - Competition Commission Approval

Acquisition Of Watergate Centre - Competition Commission Approval

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")

ACQUISITION OF WATERGATE CENTRE - COMPETITION COMMISSION APPROVAL

Shareholders are referred to the announcement published on SENS on 17 April 2026 ("Announcement"),
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").

As stated in the Announcement, the Acquisition was subject to the condition precedent requiring the approval
of the applicable competition authorities in terms of the Competition Act, No. 89 of 1998 ("Competition
Authorities"). Shareholders are advised that on 3 July 2026, the Competition Authorities unconditionally
approved the Acquisition and that the condition precedent has now been fulfilled.

Accordingly, the Acquisition has become unconditional and will be effective on the date of registration of
transfer of the Property, which is anticipated to be during the month of August 2026.

Cape Town
3 July 2026

Sponsor and Transaction Advisor                             Legal Advisor
PSG Capital                                                 ENSafrica

Date: 03-07-2026 04:45:00
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