Notification of acceptance of Restricted Share Grants in terms of the Massmart Holdings Limited Employee Share Plan Massmart Holdings Limited (Incorporated in the Republic of South Africa) Company registration No. 1940/014066/06 JSE Code: MSM ISIN: ZAE 0000152617 (“Massmart”) Notification of acceptance of Restricted Share Grants in terms of the Massmart Holdings Limited Employee Share Plan 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 R111.1354 being the 10-day weighted average price at the offer date of 15 September 2015 and were accepted by Messrs Guy Hayward, Johannes Van Lierop and Philip Sigsworth, and Mrs Janis Cheadle in terms of the rules of the Massmart Holdings Limited Employee Share Plan. These Restricted Share Grants are offered annually in September and vest in terms as outlined below. The grants were accepted on 1 October 2015 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: 14,198 Total value: R 1,577,900.41 Vesting date: In equal thirds on 15 September 2018, 2019 and 2020 Name: Johannes Van Lierop Position held: Chief Financial Officer Company: Massmart Holdings Limited Nature of Interest: Direct/Beneficial Grant of Restricted Shares: 12,351 Total value: R 1,372,633.33 Vesting dates: In equal thirds on 15 September 2018, 2019 and 2020 Name: Philip Sigsworth Position held: Company Secretary Company: Massmart Holdings Limited Nature of Interest: Direct/Beneficial Grant of Restricted Shares: 3,670 Total value: R 407,866.92 Vesting dates: In equal thirds on 15 September 2018, 2019 and 2020 Name: Janis Cheadle Position held: Company Secretary Company: Masstores (Pty) Limited Nature of Interest: Direct/Beneficial Grant of Restricted Shares: 1,161 Total value: R 129,028.20 Vesting dates: In equal thirds on 15 September 2018, 2019 and 2020 The above transactions were off-market trades. Clearance to accept the Restricted Share Grants has been given in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Johannesburg 5 October 2015 Sponsor Deutsche Securities (SA) Proprietary Limited Date: 05/10/2015 10:00:00 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.