Spear REIT director's associate buys additional shares

Salisbury Motors CC, an associate of Joan Solms, a non-executive director of Spear REIT Limited, purchased 3,506 ordinary shares in the company on December 23, 2025. The on-market transaction was valued at R41,195.50, with shares acquired at R11.75 each.

Joan Solms' spouse is the sole member of Salisbury Motors CC, making her interest in these transactions indirect and beneficial. The acquisition aligns with JSE Limited Listings Requirements, with clearance for the dealing obtained under paragraph 3.66.

This disclosure was made in Cape Town on December 24, 2025. PSG Capital acted as the sponsor for Spear REIT Limited.