Finalisation information in respect of the interim distribution for the six month period ended 31 December 2017

MAS Real Estate Inc.
Registered in the British Virgin Islands
Registration number: 1750199
JSE share code: MSP
ISIN: VGG5884M1041
LEI: 213800T1TZPGQ7HS4Q13
(“MAS” or the “Company”)

ANNOUNCEMENT OF FINALISATION INFORMATION IN RESPECT OF THE INTERIM DISTRIBUTION FOR
THE SIX MONTH PERIOD ENDED 31 DECEMBER 2017

Shareholders are referred to the distribution declaration announced on 7 March 2018 regarding the interim distribution
for the six month period ended 31 December 2017 (the “Distribution”) and are advised that shareholders on the
South African share register who elect to receive the Distribution by way of a cash payment (the “Cash Distribution”)
in lieu of an issue of new ordinary shares of no par value in MAS (“New Shares”) will receive their Cash Distribution in
South African rand converted from EUR at the closing spot exchange rate as at Friday, 9 March 2018 of EUR1.00 :
ZAR 14.6257 (the “Conversion Rate”). Accordingly, the Distribution of 3.58 EUR cents per share will be equal to
52.36001 ZAR cents per share.

The number of New Shares to which shareholders are entitled will be determined with reference to the ratio that the
Distribution of 3.58 EUR cents per share bears to the reference price of 154.39750 EUR cents, being a five percent
discount to the five-day volume weighted average price of MAS shares on the JSE at the close of business on Friday,
9 March 2018, converted to EUR at the Conversion Rate. Shareholders will receive New Shares in the ratio of
2.31869 New Shares for every 100 MAS shares held by the shareholder at the record date, being Thursday,
29 March 2018.

The information provided in this paragraph is only of direct application to shareholders on the South African share
register. The gross local distribution amount is 52.36001 ZAR cents per share for shareholders exempt from paying
South African dividends tax. The net local distribution amount is 41.88801 ZAR cents per share for shareholders liable
to pay dividends tax at a rate of 20%.

Should all shareholders receive the New Shares, the maximum number of New Shares to be issued is 14 996 494. If
all shareholders were to receive the Cash Distribution, the value of the Distribution would amount to EUR 23 154 215
and would be funded from the Company’s distributable reserves.

MAS is listed on the Main Board of the Johannesburg Stock Exchange and is listed and admitted to trading on the
Euro MTF market of the Luxembourg Stock Exchange.


13 March 2018

For further information please contact:

                                                                          Telephone
Helen Cullen, Company Secretary, MAS Real Estate Inc.                     +44 1624 625 000
Java Capital, South African corporate advisor and JSE sponsor             +27 11 722 3050
Charl Brand, M Partners, LuxSE listing agent                              +352 263 868 602

Date: 13/03/2018 11:14:00 
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