Dealings in securities by directors and by associates of 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 JSE share code: MSP ISIN: VGG5884M1041 (“MAS”) DEALINGS IN SECURITIES BY DIRECTORS AND BY ASSOCIATES OF DIRECTORS OF MAS Shareholders are advised of the following information relating to dealings in securities by directors and by associates of directors of MAS: Name of director: Lukas Nakos Transaction date: 29 December 2015 Class of securities: Ordinary shares Number of securities: 79,252 Price per security: ZAR 25.10 Total value: ZAR 1,989,225.20 Nature of transaction: On-market purchase through the Johannesburg Stock Exchange Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: Lukas Nakos Transaction date: 30 December 2015 Class of securities: Ordinary shares Number of securities: 2,581 Price per security: ZAR 25.40 Total value: ZAR 65,557.40 Nature of transaction: On-market purchase through the Johannesburg Stock Exchange Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: Lukas Nakos Transaction date: 31 December 2015 Class of securities: Ordinary shares Number of securities: 3,200 Highest traded price per security:* ZAR26.66 Weighted average price per security: ZAR 25.4387 Lowest traded price per security:* ZAR25.40 Total value: ZAR 81,403.87 Nature of transaction: On-market purchase through the Johannesburg Stock Exchange Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of associate: 2Fireflies Capital Inc Name of director and relationship to director: Malcolm Levy who is the sole director of 2Fireflies Capital Inc. Transaction date: 29 December 2015 Class of securities: Ordinary shares Number of securities: 74,329 Price per security: ZAR 25.10 Total value: ZAR 1,865,657.90 Nature of transaction: On-market purchase through the Johannesburg Stock Exchange Nature and extent of director's interest: Indirect beneficial 2 Name of associate: 2Fireflies Capital Inc Name of director and relationship to director: Malcolm Levy who is the sole director of 2Fireflies Capital Inc. Transaction date: 30 December 2015 Class of securities: Ordinary shares Number of securities: 2,419 Price per security: ZAR 25.40 Total value: ZAR 61,442.60 Nature of transaction: On-market purchase through the Johannesburg Stock Exchange Nature and extent of director's interest: Indirect beneficial Name of associate: 2Fireflies Capital Inc Name of director and relationship to director: Malcolm Levy who is the sole director of 2Fireflies Capital Inc. Transaction date: 31 December 2015 Class of securities: Ordinary shares Number of securities: 3,000 Highest traded price per security:* ZAR 26.66 Weighted average price per security: ZAR 25.4387 Lowest traded price per security:* ZAR 25.40 Total value: ZAR 76,316.13 Nature of transaction: On-market purchase through the Johannesburg Stock Exchange Nature and extent of director's interest: Indirect beneficial Name of director: Jonathan Knight Transaction date: 29 December 2015 Class of securities: Ordinary shares Number of securities: 74,000 Highest traded price per security:* ZAR 26.75 Weighted average price per security: ZAR 25.99583 Lowest traded price per security:* ZAR 25.00 Total value: ZAR 1,923,691.42 Nature of transaction: On-market purchase through 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. MAS is listed on the Euro MTF Market of the Luxembourg Stock Exchange and on the main board of the Johannesburg Stock Exchange. 4 January 2016 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 3050 Charl Brand, M Partners, Luxembourg +352 263 868 602 Date: 04/01/2016 05:45:00 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.