Dividend for the six month period ended 31 December 2019 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”) DIVIDEND FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2019 Shareholders are referred to the Company’s reviewed interim results for the six month period ended 31 December 2019, which was published on SENS on 2 March 2020, wherein shareholders were advised that the board of directors of the Company has approved a dividend of 4.24 Euro cents per share for the six month period ended 31 December 2019 (the “Dividend”). The Dividend will be paid in cash out of the Company’s adjusted distributable earnings. The salient dates and times and the tax considerations relating to the Dividend are set out below. As at the date of this announcement, the Company has 708 343 798 ordinary no par value shares in issue. SALIENT DATES AND TIMES The salient dates and times of the Dividend for shareholders on the European share register and shareholders on the South African share register are set out below: 2020 Announcement of the Euro to South African Rand exchange rate on Tuesday, 10 March Last day to trade on the LuxSE and the JSE in order to be eligible for receipt of the Dividend Tuesday, 17 March Trading commences ex-Dividend on the LuxSE and the JSE on Wednesday, 18 March Record date for shareholders recorded on the European and South African share registers on Friday, 20 March Dividend paid and CREST/CSDP/broker accounts credited on or around Friday, 27 March Shares may not be transferred between registers between Tuesday, 10 March 2020 and Friday, 20 March 2020, both days included. Shares may not be dematerialised or rematerialised between Wednesday, 18 March 2020 and Friday, 20 March 2020, both days included. TAX CONSIDERATIONS General Shareholders are advised to consult their own tax advisors with regard to their individual tax liability, circumstances and reporting responsibilities. There is no withholding tax payable in the British Virgin Islands. South African resident shareholders The Dividend is a foreign dividend and is subject to South African dividends tax at a rate of 20% unless an exemption as set out in the South African Income Tax legislation applies. Shareholders residing outside of South Africa The Dividend may have legal or tax implications for shareholders residing outside of South Africa and such shareholders are advised to obtain appropriate advice from their professional advisors in this regard. 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. 2 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 {M142/00227487.DOC/ANNOUNCE/SJ} Date: 02-03-2020 08:04:00 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.