Financial update 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 JSE share code: MSP ISIN: VGG5884M1041 (“MAS” or the “Company”) FINANCIAL UPDATE The directors of MAS are pleased to report that as at 31 March 2015 the adjusted net asset value (“NAV”) per share was 114,5 euro cents. This represents an increase of 4,3% from the interim period at 31 December 2014 and cumulatively 10,3% for the 9 months since the end of the previous financial year being 30 June 2014. The continued growth in the NAV per share is attributable to the strong net operating profit as the portfolio benefits from increased scale, gains in the value of the indirect property investments, and exchange gains from a stronger sterling and Swiss franc. The Company retains a basket of currencies hedging approach as part of its diversification strategy, with exposure to euros, sterling and Swiss francs. Net operating profit increased from EUR 0,045 million for the 6 months to 31 December 2014, to EUR 1,985 million for the 9 months since the end of the previous financial year being 30 June 2014. This increase of EUR 1,940 million was driven principally by the acquisitions completed late last year as well as the Heppenheim and Bruchsal properties acquired in the third quarter of the financial year. The assumptions on which the above results are based are consistent with the Company’s interim reporting. Properties have not be re-valued since the end of the interim reporting period, except for properties acquired after this period end which have been valued by an independent valuer at the date of acquisition. Lukas Nakos, CEO of MAS, said “the company’s strategy of investing in and developing high quality assets in the core of Western Europe is paying off. The underlying profitability of the portfolio is underpinning the growth in MAS’ NAV per share. This is all the more pleasing in the context of the substantial purchase costs that are incurred at the time of acquisition. In addition, the inherent value in the development pipeline is yet to be reflected in the NAV figures, with strong progress on this front in recent months. The acquisitions in late 2014 and early 2015 have driven the strong growth in income over the quarter. This improvement is expected to continue as further investments are made over the next 12 to 18 months. The low cost of debt currently available in our core markets makes further investments particularly accretive to both portfolio income and NAV per share. Our pipeline of identified acquisition opportunities makes us confident that we’ll continue to deliver sustainable performance and value for investors." The financial information on which this announcement is based has not been reviewed or reported on by the Company’s auditors. MAS is listed on the Euro MTF Market of the Luxembourg Stock Exchange and on the main board of the Johannesburg Stock Exchange. 8 June 2015 For further information please contact: Helen Cullen, Company Secretary, MAS Real Estate Inc. +44 1624 625000 Java Capital, South African corporate advisor and JSE Sponsor +27 11 722 3069 Charl Brand, M Partners, Luxembourg +352 263 868 602 Date: 08/06/2015 11:00:00 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.