Dealings in Securities Massmart Holdings Limited (Incorporated in the Republic of South Africa) Company registration No. 1940/014066/06 JSE Code: MSM ISIN: ZAE 0000152617 (“Massmart”) Dealings in securities In compliance with paragraphs 3.63 to 3.66 of the JSE Limited Listings Requirements (“Listings Requirements”), the following information is provided regarding the settlement of grants by The Massmart Holdings Limited 2013 Share Plan (“the Share Plan”) to the under- mentioned Director, as defined in terms of the Listings Requirements. As required in paragraph 3.66 of the Listings Requirements, the necessary authority has been obtained. In terms of The Massmart Holdings Limited 2013 Share Plan, 25,430 Massmart shares were released to GRC Hayward. Following deduction of the associated tax obligation, Mr. Hayward has retained ownership of 13,983 shares. GRC Hayward, Chief Executive Officer: Name and designation of Director Massmart Holdings Limited Settlement of grants in terms of the Nature of transaction Share Plan in off market transactions Date of grant 16 March 2015 Date of vesting 16 March 2018 Number of performance shares settled 25,430 Vesting price per share 170.26 Total value of performance shares settled R 4,329,793.21 Date of transaction 29 March 2018 Transfer of shares to participant in an Nature of transaction off market transaction Net shares settled 13,983 Price per share 170.26 Value of net shares settled R 2,380,790.35 Class of securities Ordinary shares Johannesburg 29 March 2018 Sponsor Deutsche Securities (SA) Proprietary Limited Date: 29/03/2018 04:15:00 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.