Spear Reit : Results of the Annual General Meeting

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")

RESULTS OF THE ANNUAL GENERAL MEETING

Shareholders are hereby advised that at the annual general meeting of the Company held at 11:00 a.m. today, Thursday, 30 June 2022 at Spear REIT Limited Head Office, 16th Floor, 2 Long Street, Cape Town ("AGM"), all of the resolutions were passed by the requisite majorities of the Company's shareholders.

Details of the results of the voting at the AGM are as follows:

Resolutions	Votes for	Votes	Number of	Number of	Number of
proposed at the	resolution	against	shares	shares	shares
AGM	as a	resolution	voted at	voted at	abstained
	percentage	as a	AGM	AGM as a	as a
	of total	percentage		percentage	percentage
	number of	of total		of shares in	of shares in
	shares	number of		issue*	issue*
	voted at	shares
	AGM	voted at
		AGM
Ordinary resolution	98.50%	1.50%	191,747,878	78.31%	1.30%
number 1:
Retirement and re-
election of Mr. A
Varachhia as
director
Ordinary resolution	99.97%	0.03%	191,747,878	78.31%	1.30%
number 2:
Retirement and re-
election of Mr. N
Kjellstrom-Matseke
as director
Ordinary resolution	99.97%	0.03%	191,747,878	78.31%	1.30%
number 3:
Retirement and re-
election of Dr. RL
Phillips as director
Ordinary resolution	99.97%	0.03%	191,747,878	78.31%	1.30%
number 4:
To re-appoint Mr.
JE Allie as member
of the audit and risk
committee

Ordinary resolution	99.97%	0.03%	191,747,878	78.31%	1.30%
number 5:
To re-appoint Mr.
BL Goldberg as
member of the
audit and risk
committee
Ordinary resolution	100%	0.00%	191,747,878	78.31%	1.30%
number 6:
To re-appoint Mr. N
Kjellström-Matseke
as member of the
audit and risk
committee
Ordinary resolution	99.40%	0.60%	191,747,878	78.31%	1.30%
number 7:
To re-appoint BDO
South Africa
Incorporated as the
auditor of the
company
Ordinary resolution	94.52%	5.48%	191,747,878	78.31%	1.30%
number 8:
Non-binding
advisory vote on
Spear's
remuneration policy
Ordinary resolution	94.52%	5.48%	191,747,878	78.31%	1.30%
number 9:
Non-binding
advisory vote on
Spear's
implementation
report on the
remuneration policy
Ordinary resolution	94.80%	5.20%	191,747,878	78.31%	1.30%
number 10:
General authority to
issue ordinary
shares for cash

Special resolution	79.24%	20.76%	191,747,878	78.31%	1.30%
number 1:
Remuneration of
non-executive
directors
Special resolution	99.92%	0.08%	191,747,878	78.31%	1.30%
number 2:
Inter-company
financial assistance
Special resolution	99.92%	0.08%	191,747,878	78.31%	1.30%
number 3:
Financial
assistance for
acquisition of
shares in the
company or a
related or inter-
related company
Special resolution	97.03%	2.97%	191,747,878	78.31%	1.30%
number 4:
Share repurchases
by Spear and its
subsidiaries

Note:

*Total number of shares in issue as at the date of the AGM was 244 846 390 of which 12 130 073 were treasury shares.

Cape Town

30 June 2022

Sponsor

PSG Capital