Dealing in securities by an associate of a director of MAS MAS Real Estate Inc. Registered in the British Virgin Islands Registration number 1750199 SEDOL (EMTF): B96VLJ5 SEDOL (JSE): B96TSD2 JSE share code: MSP ISIN: VGG5884M1041 LEI code: 213800T1TZPGQ7HS4Q13 ("MAS" or "the Company") DEALING IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF MAS In accordance with the JSE Listings Requirements, shareholders are advised of the following information relating to dealings in securities by an associate of director of MAS: Name of associate: Marcelle Joan Wilken Name of director and relationship to director: Morné Wilken who is the spouse of Marcelle Joan Wilken Transaction date: 15 November 2018 Class of securities: Ordinary shares Number of securities: 18 382 Price per security: EUR 1.36 Total value of transaction: EUR 24 999.52 Nature of transaction: Off market purchase of ordinary shares Nature and extent of director's interest: Not applicable 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 Marcelle Joan Wilken 2. Reason for the notification a) Position / status Person Closely Associated with a Person Discharging Managerial Responsibilities - spouse of Morné Wilken, Director. b) Initial notification / amendment Initial notification 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name MAS Real Estate Inc. b) LEI 213800T1TZPGQ7HS4Q13 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 financial instrument, type of instrument Ordinary shares Identification code ISIN: VGG5884M1041 b) Nature of the transaction Off-market purchase of ordinary shares c) Price(s) and volume(s) Price(s) Volume(s) EUR 1.36 18 382 d) Aggregated information — Aggregated volume 18 382 — Price EUR 24,999.52 e) Date of the transaction 2018-11-15 f) Place of the transaction Outside trading venue MAS is listed on the Main Board of the JSE and is listed and admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange. 19 November 2018 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 Stock Exchange Listing Agent +352 263 868 602 Investor Relations, Lizelle du Toit +27 82 465 1244 Date: 19/11/2018 05:30:00 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.