No Change Statement And Notice Of Annual General Meeting SPEAR REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number 2015/407237/06) Share Code: SEA ISIN: ZAE000228995 Approved as a REIT by the JSE (“Spear” or “the Company”) NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING NO CHANGE STATEMENT Shareholders are hereby advised that Spear’s integrated report, containing the audited consolidated annual financial statements for the year ended 28 February 2019, was dispatched to shareholders today, 28 June 2019, and contains no modifications to the audited results which were announced on SENS on 15 May 2019. The annual report is also available at https://spearprop.co.za/investor-relations/#reports NOTICE OF ANNUAL GENERAL MEETING OF SPEAR Notice is hereby given that the annual general meeting of Spear will be held at 15 on Orange,Autograph Collection, cnr Grey’s Pass and Orange Street, Cape Town,on Thursday, 8 August 2019 at 11:00 to transact the business as set out in the notice of the annual general meeting. The date on which shareholders must be recorded as such in the share register to be eligible to vote at the annual general meeting is Friday, 2 August 2019, with the last day to trade being Tuesday, 30 July 2019. Cape Town 28 June 2019 Sponsor PSG Capital Date: 28/06/2019 02:05:00 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.