Notification and public disclosure of transactions by persons discharging mangerial responsibilities 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 SEDOL (XLUX): B96VLJ5 SEDOL (JSE): B96TSD2 JSE share code: MSP ISIN: VGG5884M1041 (“MAS” or the “Company”) NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM 1. Details of the person discharging managerial responsibilities/person closely associated 1 a) Name Jonathan Knight 2. Reason for the notification 2 a) Position / status Director Initial notification / 3 b) amendment Initial notification Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction 3. monitor 4 a) Name MAS Real Estate Inc. 5 b) LEI Details of the transaction(s) section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) 4. each place where transactions have been conducted Description of the financial instrument, type of 6 a) instrument Ordinary Shares Identification code7 ISIN: VGG5884M1041 On-market purchase through the Johannesburg Stock 8 b) Nature of the transaction Exchange Price(s) Volume(s) 9 c) Price(s) and volume(s) ZAR 187,426.72 9 865 Aggregated information 10 — Aggregated volume N/A 11 d) — Price N/A 12 e) Date of the transaction 09-Sep-16 13 f) Place of the transaction Johannesburg Stock Exchange The information contained in this announcement was released on 14 September 2016. This notification is being published in compliance with the EU Market Abuse Regulations and contains no additional information from the announcement released on 14 September 2016. MAS holds a dual primary listing on the Main Board of the JSE and the Euro MTF Market of the LuxSE. 28 September 2016 For further information please contact: Helen Cullen, Company Secretary, MAS Real Estate Inc. +44 1624 625000 Java Capital, JSE Sponsor +27 11 722 3050 Charl Brand, M Partners, Luxembourg +352 263 868 602 {M142/00190284.DOC/ANNOUNCE/SJ} Date: 28/09/2016 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.