Category 2 Acquisition Of Berg River Business Park, Paarl – Fulfilment Of Conditions Precedent

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")

CATEGORY 2 ACQUISITION OF BERG RIVER BUSINESS PARK, PAARL – FULFILMENT OF
CONDITIONS PRECEDENT

Shareholders are referred to the announcement published on SENS on 21 May 2025 ("Announcement"),
regarding the acquisition by Spear of the properties known as the Remainder of Erf 5400, the Remainder of
Erf 5401, the Remainder of Erf 5428, Erf 11204, Erf 11205 and Erf 13058, Paarl, in the Drakenstein
Municipality, with all improvements thereon ("Property"), and the rental enterprise known as the "Berg River
Business Park" conducted on the Property, as a going concern ("Acquisition").

As stated in the Announcement, the Acquisition was subject to certain conditions precedent, including the
approval of the applicable competition authorities in terms of the Competition Act, No. 89 of 1998
("Competition Authorities"). Shareholders are advised that on 5 August 2025, the Competition Authorities
unconditionally approved the Acquisition and that the last outstanding 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 October 2025.

Cape Town
6 August 2025

Sponsor and Transaction Adviser           Legal Adviser                        Competition Law Adviser
PSG Capital                               ENSafrica                            Cliffe Dekker Hofmeyr

Date: 06-08-2025 09:00:00
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