Notification of Acceptance of Restricted Share Grants Massmart Holdings Limited (Incorporated in the Republic of South Africa) Company registration No. 1940/014066/06 JSE Code: MSM ISIN: ZAE 000152617 (“Massmart”) Notification of acceptance of Restricted Share Grants by Chief Executive Officer, Company Secretary of Massmart Holdings Limited and Company Secretary of Masstores (Pty) Ltd In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements, we hereby advise that Restricted Share Grants in Massmart securities have been offered at R128.2748 being the 10-day weighted average price at the offer date of 15 September 2014 and are accepted by Messrs Guy Hayward, Philip Sigsworth and Mrs Janis Cheadle in terms of the rules of the Massmart Holdings Limited Employee Share Plan. The grants were accepted on 30 October 2014 by the aforementioned individuals as detailed below:- Name: Guy Hayward Position held: Chief Executive Officer Company: Massmart Holdings Limited Nature of Interest: Direct/Beneficial Grant of Restricted Shares: 11,506 Total value: R 1,475,929.85 Vesting dates: In equal thirds on 15 September 2017, 2018 and 2019 Name: Philip Sigsworth Position held: Company Secretary Company: Massmart Holdings Limited Nature of Interest: Direct/Beneficial Grant of Restricted Shares: 2,988 Total value: R 383,285.10 Vesting dates: In equal thirds on 15 September 2017, 2018 and 2019 Name: Janis Cheadle Position held: Company Secretary Company: Masstores (Pty) Limited Nature of Interest: Direct/Beneficial Grant of Restricted Shares: 946 Total value: R 121,347.96 Vesting dates: In equal thirds on 15 September 2017, 2018 and 2019 The above transactions were off-market trades. Clearance to accept these grants has been given in terms of section 3.66 of the JSE Limited Listing Requirements. Johannesburg 3 November 2014 Sponsor Deutsche Securities (SA) Proprietary Limited Date: 03/11/2014 12:38:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.