Notification of Acceptance of Performance Share Awards in terms of the Massmart Holdings Limited Employee Share Plan Massmart Holdings Limited: (Incorporated in the Republic of South Africa) Company registration No. 1940/014066/06 JSE Code: MSM ISIN: ZAE 0000152617 (“Massmart”) Notification of acceptance of Performance Share Awards in terms of the Massmart Holdings Limited Employee Share Plan In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements, we hereby advise that Performance Share Awards in Massmart securities have been offered at R134.5254, being the 10- day weighted average price immediately prior to the offer date of 18 April 2017. These were accepted by Messrs Guy Hayward, Johannes Van Lierop and Joseph Ralebepa in terms of the rules of the Massmart Holdings Limited Employee Share Plan. Performance Share Awards are offered annually in April and vest in terms as outlined below. The awards were accepted on 2 May 2017 by the aforementioned individuals as detailed below:- Name: Guy Hayward Position held: Chief Executive Officer Company: Massmart Holdings Limited Nature of Interest: Direct/Beneficial Award of Performance Shares: 0 to 59,147 (subject to Massmart Group performance over each of the 2017, 2018 and 2019 financial years) Total value: R 7,956,775.97 Vesting date: 17 March 2020 Name: Johannes Van Lierop Position held: Chief Financial Officer Company: Massmart Holdings Limited Nature of Interest: Direct/Beneficial Award of Performance Shares: 0 to 46,140 (subject to Massmart Group performance over each of the 2017, 2018 and 2019 financial years) Total value: R 6,207,003.62 Vesting dates: 17 March 2020 Name: Joseph Ralebepa Position held: Company Secretary Company: Massmart Holdings Limited Nature of Interest: Direct/Beneficial Award of Performance Shares: 0 to 64 415 (subject to Massmart Group performance over each of the 2017, 2018 and 2019 financial years) Total value: R 8,665,455.96 Vesting dates: 17 March 2020 The above transactions were off-market trades. Clearance to accept these Performance Share Awards has been given in terms of paragraph 3.66 of the JSE Limited Listings Requirements. Johannesburg 3 May 2017 Sponsor Deutsche Securities (SA) Proprietary Limited Date: 03/05/2017 03:44:00 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.