Stock Exchange News Service

Dealings in securities by directors of MAS

MAS Real Estate Inc.
Registered in the British Virgin Islands
Registration number 1750199
Registered as an external company in the Republic of South Africa
Registration number 2010/000338/10
SEDOL (XLUX): B96VLJ5
SEDOL (ALTX): B96TSD2
JSE share code: MSP
ISIN: VGG5884M1041
LEI 213800T1TZPGQ7HS4Q13
(“MAS” or the “Company”)


DEALINGS IN SECURITIES BY DIRECTORS OF MAS


In accordance with the JSE Listings Requirements, shareholders are advised of the following information
relating to dealings in securities by directors of MAS:

Name of director:                           Morne Wilken
Transaction date:                           17 May 2017
Class of securities:                        Ordinary shares
Number of securities:                       5,050
Highest traded price per security:*         ZAR 23.74
Weighted average price per security:        ZAR 23.49525
Lowest traded price per security:*          ZAR23.10
Total value of transaction:                 ZAR 118,651.03
Nature of transaction:                      Purchase of ordinary shares on the Johannesburg Stock
                                            Exchange
Nature and extent of director's interest:   Direct beneficial
Clearance to deal received:                 Yes

Name of director:                           Gideon Oosthuizen
Transaction date:                           17 May 2017
Class of securities:                        Ordinary shares
Number of securities:                       100,570
Highest traded price per security:*         ZAR 23.74
Weighted average price per security:        ZAR 23.19157
Lowest traded price per security:*          ZAR 23.10
Total value of transaction:                 ZAR 2,332,376.35
Nature of transaction:                      Sale of ordinary shares on the Johannesburg Stock
                                            Exchange
Nature and extent of director's interest:   Direct beneficial
Clearance to deal received:                 Yes

Name of director:                           Gideon Oosthuizen
Transaction date:                           18 May 2017
Class of securities:                        Ordinary shares
Number of securities:                       129,164
Highest traded price per security:*         ZAR 23.52
Weighted average price per security:        ZAR 23.19702
Lowest traded price per security:*          ZAR 23.15
Total value of transaction:                 ZAR 2,996,220.34
Nature of transaction:                      Sale of ordinary shares on the Johannesburg Stock
                                            Exchange
Nature and extent of director's interest:   Direct beneficial
Clearance to deal received:                 Yes

Name of director:                           Gideon Oosthuizen
Transaction date:                           22 May 2017
Class of securities:                        Ordinary shares
Number of securities:                       29,199
Price per security:                         ZAR 23.52
Total value of transaction:                 ZAR 686,760.48
Nature of transaction:                      Sale of ordinary shares on the Johannesburg Stock
                                            Exchange
Nature and extent of director's interest:   Direct beneficial
Clearance to deal received:                 Yes
*Highest and lowest traded prices per security on the market on the day.

In accordance with the requirements of the EU Market Abuse Regulation, the notification and public
disclosure of transactions by persons discharging managerial responsibilities and persons closely
associated with them is set out below:


        NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
                      RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1.     Details of the person discharging managerial responsibilities/person closely associated
a)     Name                                                Morne Wilken
2.     Reason for the notification
                                                           Director


a)     Position / status
b)     Initial notification / amendment             Initial notification
3.     Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)     Name                                                MAS Real Estate Inc.

b)     LEI                                                 213800T1TZPGQ7HS4Q13
       Details of the transaction(s)
       section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each
4.     place where transactions have been conducted
                                                        Ordinary shares
       Description of the financial instrument, type of
a)     instrument
       Identification code                                 ISIN: VGG5884M1041

b)     Nature of the transaction                           Purchase of ordinary shares
                                                           Price(s)                       Volume(s)
                                                           ZAR 23.49                          2,397
c)     Price(s) and volume(s)                              ZAR 23.50                          2,653
       Aggregated information
       — Aggregated volume                                 5,050
d)     — Price                                             ZAR 23.49525
e)     Date of the transaction                             2017-05-17
                                                           Johannesburg Stock Exchange
f)     Place of the transaction




     NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS
                                                CLOSELY ASSOCIATED WITH THEM


1.     Details of the person discharging managerial responsibilities/person closely associated
a)     Name                                                Gideon Oosthuizen
2.     Reason for the notification
                                                             Director


a)     Position / status
b)     Initial notification / amendment                      Initial notification
3.     Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)     Name                                                  MAS Real Estate Inc.

b)     LEI                                                   213800T1TZPGQ7HS4Q13
       Details of the transaction(s)
       section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where
4.     transactions have been conducted
       Description of the financial instrument, type of     Ordinary shares
a)     instrument
       Identification code                                   ISIN: VGG5884M1041

b)     Nature of the transaction                             Sale of ordinary shares
                                                             Price(s)                     Volume(s)
                                                             ZAR23.15                        17,559
                                                             ZAR23.20                        82,708
                                                             ZAR23.30                           303




c)     Price(s) and volume(s)
       Aggregated information
       — Aggregated volume                                   100,570
d)     — Price                                               ZAR 23.19157
e)     Date of the transaction                               2017-05-17
                                                             Johannesburg Stock Exchange
f)     Place of the transaction


     NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS
                                                CLOSELY ASSOCIATED WITH THEM


1.     Details of the person discharging managerial responsibilities/person closely associated
a)     Name                                              Gideon Oosthuizen


2.     Reason for the notification
                                                         Director


a)     Position / status
b)     Initial notification / amendment                  Initial notification


3.     Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)     Name                                              MAS Real Estate Inc.
b)     LEI                                               213800T1TZPGQ7HS4Q13


       Details of the transaction(s)
       section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where
4.     transactions have been conducted
       Description of the financial instrument, type     Ordinary shares
a)     of instrument
       Identification code                               ISIN: VGG5884M1041

b)     Nature of the transaction                         Sale of ordinary shares
                                                         Price(s)                     Volume(s)
c)     Price(s) and volume(s)                            ZAR 23.15                        6,676
                                                         ZAR 23.19                        5,066
                                                         ZAR 23.20                      117,422
       Aggregated information
       — Aggregated volume                               129,164
d)     — Price                                           ZAR 23.19702
e)     Date of the transaction                           2017-05-18
                                                         Johannesburg Stock Exchange
f)     Place of the transaction


     NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS
                                                CLOSELY ASSOCIATED WITH THEM


1.     Details of the person discharging managerial responsibilities/person closely associated
a)     Name                                              Gideon Oosthuizen


2.     Reason for the notification
                                                         Director


a)     Position / status
b)     Initial notification / amendment                  Initial notification


3.     Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)     Name                                              MAS Real Estate Inc.
b)     LEI                                               213800T1TZPGQ7HS4Q13


       Details of the transaction(s)
       section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where
4.     transactions have been conducted
       Description of the financial instrument, type     Ordinary shares
a)     of instrument
       Identification code                               ISIN: VGG5884M1041

b)     Nature of the transaction                         Sale of ordinary shares
                                                         Price(s)                      Volume(s)
c)     Price(s) and volume(s)                            ZAR 23.52                        29,199
       Aggregated information
       — Aggregated volume                               29,199
d)     — Price                                           ZAR 23.52
e)     Date of the transaction                           2017-05-22
                                                         Johannesburg Stock Exchange
f)     Place of the transaction

MAS holds a dual primary listing on the Main Board of the JSE and the Euro MTF market of the LuxSE.


23 May 2017

For further information please contact:
Sarah King, Acting Company Secretary, MAS Real Estate Inc.                                              +44 1624 625000
Java Capital, JSE Sponsor                                                                               +27 11 722 3050
Charl Brand, M Partners, Luxembourg                                                                     +352 263 868 602

Date: 24/05/2017 07:05:00 
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