Results of the distribution election for the year ended 30 June 2016 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 (ALTX): B96TSD2 JSE share code: MSP ISIN: VGG5884M1041 (“MAS” or the “Company”) RESULTS OF THE DISTRIBUTION ELECTION FOR THE YEAR ENDED 30 JUNE 2016 Shareholders are referred to the previous announcements, the last of which was released on 27 October 2016, in respect of the distribution of 2.23 euro cents per share for the year ended 30 June 2016 (the “Distribution”). The Company hereby announces that a total of 6,317,591 new shares (“New Shares”) were listed today on both the Euro MTF market of the Luxembourg Stock Exchange (“LuxSE”) and the Main Board of the JSE Limited (“JSE”) and were issued to those shareholders who did not elect to receive the Distribution in cash (“Cash Distribution”). The New Shares will rank pari passu in every respect with existing listed shares of the Company and are fully fungible with effect from listing. Following the issue of the New Shares in the Company, the total issued share capital of the Company will increase to 380,583,836 ordinary no par value shares. Certificated shareholders who did not elect to receive the Cash Distribution should note that share certificates were posted to shareholders today. Cheques in respect of the Cash Distribution were dispatched today to shareholders who elected to receive the Cash Distribution. Dematerialised shareholders should note that the CREST, CSDP and Broker accounts holding dematerialised shares are in the process of being credited, according to the elections made. MAS is dual primary listed on the Main Board of the JSE and the Euro MTF Market of the LuxSE. 2 November 2016 For further information please contact: Telephone Helen Cullen, Company Secretary, MAS Real Estate Inc. +44 1624 625 000 Java Capital, South African corporate advisor and JSE sponsor +27 11 722 3050 Charl Brand, M Partners, Luxembourg +352 263 868 602 Date: 02/11/2016 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.