Trading Statement 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”) TRADING STATEMENT In terms of the JSE Listings Requirements, property entities are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the distribution per share for the next reporting period will differ by at least 15% from the distribution per share for the previous corresponding reporting period. Accordingly, shareholders are advised that MAS anticipates that its interim distribution per share for the six-month period ended 31 December 2016 will be between 2.62 euro cents and 2.70 euro cents, being between 15.4% and 18.9% higher than the interim distribution per share of 2.27 euro cents for the six-month period ended 31 December 2015. This distribution per share is in line with the Company’s expectation of 30% growth for the year. MAS pays a distribution twice per year. The final distribution per share for the year ended 30 June 2016 was 2.23 euro cents. The total distribution per share for the year ended 30 June 2016 was therefore 4.5 euro cents per share. The financial information and distribution growth guidance on which this trading statement is based has not been reviewed or reported on by MAS’ auditors. The financial results for the six-month period ended 31 December 2016 will be published on 27 February 2017. 20 February 2017 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: 20/02/2017 08:00:00 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.