Dealings in securities by 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 A DIRECTOR OF MAS In accordance with the JSE Listings Requirements, shareholders are advised of the following information relating to dealings in securities by a director of MAS: Name of director: Jonathan Knight (through his self-invested personal pension) Transaction date: 30 December 2019 Class of securities: Ordinary shares Number of securities: 48,050 Price per security: ZAR 19.17 Total value of transaction: ZAR 921,118.50 Nature of transaction: On-market purchase through the JSE Nature and extent of director's interest: Indirect beneficial Clearance to deal received: Yes 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 Jonathan Knight (through his self-invested personal pension) 2. Reason for the notification a) Position / status 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 19.17 48,050 d) Aggregated information — Aggregated volume 48,050 — Price ZAR 921,118.50 e) Date of the transaction 2019-12-30 f) Place of the transaction JSE 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. 3 January 2020 For further information please contact: Dan Petrisor, Executive Director, 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: 03-01-2020 12:45:00 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.