Cash Payment in Respect of Fractional Entitlements Naspers Limited (Incorporated in the Republic of South Africa) Registration number: 1925/001431/06 Share code: NPN ISIN: ZAE000015889 (“Naspers” or the “Company”) CASH PAYMENT IN RESPECT OF FRACTIONAL ENTITLEMENTS 1. Introduction Naspers “N” and “A” shareholders (“Naspers Shareholders”) are referred to the announcement released on SENS on 5 September 2017 (“Detailed Announcement”) in terms of which Naspers Shareholders were advised that the Company will unbundle 151,786,287 Novus Holdings Limited (“Novus”) shares (“Unbundled Novus Shares”) to Naspers Shareholders (“Unbundling”). 2. Fractional entitlements Naspers Shareholders are hereby advised of the following: - The Unbundled Novus Shares will be unbundled in the intended ratio of 0.34588 Novus shares for every one Naspers N share and 0.06918 Novus shares for every one Naspers A share held at the close of business on the Unbundling record date; and - The value applicable in determining the cash payment for the fractional entitlement is the weighted average traded price for the day after the last day to trade less 10% as prescribed by the JSE Limited, being 514 cents. THIS ANNOUNCEMENT IS NOT INTENDED TO BE A COMPLETE ANALYSIS OF THE TAX IMPLICATIONS OF THE UNBUNDLING. IT IS NOT INTENDED TO BE, NOR SHOULD IT BE CONSIDERED TO BE, LEGAL OR TAX ADVICE. SHAREHOLDERS ARE ADVISED TO CONSULT THEIR OWN PROFESSIONAL TAX ADVISORS ON THE TAXATION CONSEQUENCES OF THE UNBUNDLING IN BOTH SOUTH AFRICA AND THEIR JURISDICTION OF RESIDENCE AND THE CALCULATION OF THEIR COSTS FOR TAXATION PURPOSES. Cape Town 21 September 2017 Financial advisor and sponsor Investec Bank Limited Legal advisors Glyn Marais Inc. Werksmans Inc. Tax advisors PricewaterhouseCoopers Tax Services Proprietary Limited Date: 21/09/2017 11:00:00 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.