Notification of change of auditors and confirmation of posting of notice of annual meeting of shareholders 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") NOTIFICATION OF CHANGE OF AUDITORS AND CONFIRMATION OF POSTING OF NOTICE OF ANNUAL MEETING OF SHAREHOLDERS Change of Auditors Shareholders are advised that the board of directors has considered the rotation of auditors and has made a recommendation to shareholders at the upcoming annual shareholders' meeting to appoint PricewaterhouseCoopers LLC ("PwC") as the external auditors to MAS. KPMG Audit LLC ("the existing auditor") in the Isle of Man has provided external auditor services to MAS for ten years and the board considers it an appropriate time to recommend a change of auditors. Although the reputational issues concerning KPMG in South Africa affected this decision, the board of directors has had no concerns with the quality or conduct of the existing auditor in the Isle of Man. Subject to approval of the resolution by shareholders, the services of the existing auditor will terminate and PwC will be appointed as external auditors on or around 27 November 2018, being the date of the annual meeting of shareholders. Posting of Notice of Annual Shareholders' Meeting Shareholders are advised that the notice of the annual meeting of shareholders of MAS was dispatched to shareholders today, Wednesday, 31 October 2018. The notice of annual shareholders' meeting together with the documents referred to therein, are available on the Company's website, http://www.masrei.com/investor-relations/corporate-documents/ The annual shareholders' meeting for MAS shareholders will be held at 2nd Floor, Clarendon House, Victoria Street, Douglas, Isle of Man on 27 November 2018 at 10:00 am (GMT). The last day to trade in order to be eligible to participate in and vote at the annual shareholders' meeting is Tuesday, 13 November 2018 and the record date for voting purposes is Friday, 16 November 2018. 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. 31 October 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 Lizelle du Toit, Investor Relations +27 82 465 1244 Date: 31/10/2018 03:00:00 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.