Dealings in securities by an associate of a director 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 SEDOL (XLUX): B96VLJ5 SEDOL (ALTX): B96TSD2 JSE share code: MSP ISIN: VGG5884M1041 (“MAS” or the “Company”) DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF MAS Shareholders are advised of the following information relating to dealings in securities by an associate of a director of MAS: Name of associate: Trinsam Trust Name of director and relationship to Morne Wilken, who is a trustee and beneficiary of the director: Trinsam Trust Transaction date: 9 December 2016 Class of securities: Ordinary shares Number of securities: 11 182 Highest traded price per security: ZAR 20.90 Weighted average price per security: ZAR 20.6563 Lowest traded price per security: ZAR 20.40 Total value: ZAR 230 979.20 Nature of transaction: On-market purchase through the Johannesburg Stock Exchange Nature and extent of director's interest: Indirect beneficial *Highest and lowest traded prices per security on the market on the day. In accordance with the requirements of the EU Market Abuse Regulation, the notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them is set out below: 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 a) Name Trinsam Trust 2. Reason for the notification a) Position / status Person Closely Associated with a Person Discharging Managerial Responsibilities - Morne Wilken is a trustee and beneficiary of the Trinsam Trust as well as a director of MAS Real Estate Inc. b) Initial notification / Initial notification amendment 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name MAS Real Estate Inc. b) LEI 4. 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) each place where transactions have been conducted a) Description of the Ordinary Shares financial instrument, type of instrument Identification code ISIN: VGG5884M1041 b) Nature of the transaction On-market purchase through the Johannesburg Stock Exchange c) Price(s) and volume(s) Price(s) Volume(s) Weighted Average Price per Security: ZAR 20.6563 11 182 (Highest Traded Price per Security: ZAR 20.90; Lowest Traded Price per Security: ZAR 20.40) d) Aggregated information — Aggregated volume 11 182 — Price ZAR 20.6563 e) Date of the transaction 2016-12-09 f) Place of the transaction Johannesburg Stock Exchange MAS holds a dual primary listing on the Main Board of the JSE and the Euro MTF Market of the LuxSE. 14 December 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 Date: 14/12/2016 12:15:00 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.