Dealings 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”) DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF MAS Shareholders are advised of the following information relating to the dealings in securities by an associate of a director of MAS: Name of associate: Marie Goosen Name of director and relationship to director: Pierre Goosen, spouse of Marie Goosen Transaction date: 20 March 2020 Class of securities: Ordinary shares Number of securities: 58,136 Highest traded price per security on the market on the day ZAR 8.83 Weighted average price per security: ZAR 8.49 Lowest traded price per security on the market on the day ZAR 7.89 Total value: ZAR 493 567.64 Nature of transaction: On-market purchase through the Johannesburg Stock Exchange Nature and extent of director's interest: Indirect beneficial 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 Marie Goosen 2. Reason for the notification a) Position / status Person Closely Associated with a Person Discharging Managerial Responsibilities – Spouse of Pierre Goosen, 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 On-market purchase of ordinary shares c) Price(s) and volume(s) Price(s) Volume(s) ZAR 8.68 4,141 ZAR 8.49 10,000 ZAR 8.38 12,000 ZAR 8.51 11,995 ZAR 8.50 20,000 d) Aggregated information — Aggregated volume 58,136 — Price ZAR 8.49 e) Date of the transaction 2020 03 20 f) Place of the transaction JSE 24 March 2020 For further information please contact: Dan Petrisor, MAS Real Estate Inc. +40 741 184 921 Java Capital, JSE Sponsor +27 11 722 3050 Harneys Luxembourg, Luxembourg Stock Exchange Listing Agent +35 22 786 7102 Date: 24-03-2020 05:00:00 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.