Spear Reit Balance Sheet

Financials in millions ZAR. Fiscal year is March - February.

Millions ZAR. Fiscal year is Mar - Feb.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Property, Plant & Equipment	7,073	5,433	4,181	3,794	4,408
Cash & Equivalents	392.72	73.86	25.05	19.53	29.21
Accounts Receivable	8.89	15.21	21.31	15.85	15.51
Other Receivables	0.17	1.29	-	-	-
Investment In Debt and Equity Securities	-	15.99	-	-	-
Loans Receivable Current	0.24	0.05	0.22	0.07	-
Restricted Cash	-	-	-	-	0.54
Other Current Assets	108.34	101.5	445.84	426.18	71.82
Deferred Long-Term Tax Assets	0.56	0.44	0.43	0.78	1.23
Other Long-Term Assets	-	-	-	-	4.29
Total Assets	7,584	5,641	4,673	4,257	4,530
Current Portion of Long-Term Debt	101.85	513.44	240.44	375.61	-
Current Portion of Leases	-	16.35	12.67	14.73	4.69
Long-Term Debt	1,938	1,064	1,248	1,175	1,780
Accounts Payable	12.59	14.64	13.78	11.13	3.37
Accrued Expenses	28.71	12.45	16.01	16.03	14.25
Current Income Taxes Payable	-	-	0.1	0.06	0.15
Other Current Liabilities	113.12	98.81	66.66	56.37	54.01
Total Liabilities	2,194	1,719	1,597	1,649	1,857
Common Stock	3,896	2,936	2,389	2,102	2,169
Retained Earnings	1,455	955.55	661.33	475.51	460.85
Comprehensive Income & Other	25.43	17.21	12.75	16.76	20.41
Total Common Equity	5,376	3,909	3,063	2,594	2,650
Minority Interest	13.11	13.11	13.11	13.11	23.26
Shareholders' Equity	5,390	3,922	3,076	2,608	2,673
Total Liabilities & Equity	7,584	5,641	4,673	4,257	4,530
Total Debt	2,040	1,593	1,501	1,566	1,785
Net Cash (Debt)	-1,647	-1,519	-1,476	-1,546	-1,756
Net Cash Per Share	-4.25	-5.19	-6.44	-6.56	-8.11
Filing Date Shares Outstanding	416.4	320.4	260.09	226.07	234.43
Total Common Shares Outstanding	416.4	320.4	260.09	226.07	234.43
Book Value Per Share	12.91	12.20	11.78	11.48	11.30
Tangible Book Value	5,376	3,909	3,063	2,594	2,650
Tangible Book Value Per Share	12.91	12.20	11.78	11.48	11.30