Acquisition of MAS shares by PKM Development and dealings in securities by an associate of directors 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”) ACQUISITION OF MAS SHARES BY PKM DEVELOPMENT AND DEALINGS IN SECURITIES BY AN ASSOCIATE OF DIRECTORS OF MAS Shareholders are advised of the following information relating to dealings in MAS ordinary shares by PKM Development Limited (“PKM”) which is the holding company for the Development Joint Venture (“DJV”) between Prime Kapital Holdings Ltd (“PK”) and MAS. Given the predicted longer-term recessionary consequences of the COVID-19 pandemic, the DJV has put on hold and is reconsidering the development opportunities previously reported and is positioning for new investment opportunities that may emerge in due course. Investments in listed securities, including MAS’ ordinary shares, that could be disposed of to fund developments or other investment opportunities when appropriate, form part of this strategy. The purchases were conducted on-market on the JSE Limited. PKM is an associate of Martin Slabbert and Victor Semionov (who are directors of MAS) via PK which holds 60% of the ordinary shares in the DJV. Martin and Victor are the founders of and have indirect beneficial interests in PK. As a result of this they have indirect beneficial interests in the MAS ordinary shares acquired by PKM. Transaction date: 2 June 2020 Number of securities: 2,843,368 Highest traded price per security on the market on the day: ZAR 10.70 Weighted average price per security: ZAR 10.0257 Lowest traded price per security on the market on the day: ZAR 9.50 Total value: ZAR 28,506,862.69 Transaction date: 3 June 2020 Number of securities: 1,717,443 Price per security: ZAR 10.8845 Total value: ZAR 18,693,508.33 Transaction date: 4 June 2020 Number of securities: 3,859,675 Highest traded price per security on the market on the day: ZAR 11.98 Weighted average price per security: ZAR 11.8601 Lowest traded price per security on the market on the day: ZAR 11.03 Total value: ZAR 45,776,235.31 Transaction date: 5 June 2020 Number of securities: 4,425,075 Highest traded price per security on the market on the day: ZAR 13.50 Weighted average price per security: ZAR 12.87370 Lowest traded price per security on the market on the day: ZAR 11.59 Total value: ZAR 56,967,088.03 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. This announcement meets with the information requirements of the EU Market Abuse Regulation (the “MAR”) in terms of which shareholders are advised that PKM is considered a person closely associated with Martin Slabbert and Victor Semionov which as executive directors of MAS discharges managerial responsibilities for the Company. 5 June 2020 For further information please contact: Dan Petrisor, MAS Real Estate Inc. +40 741 184 921 Java Capital, JSE Sponsor +27 11 722 3050 Harney Westwood & Riegels SARL, Luxembourg Stock Exchange Listing Agent +352 27 867 102 Date: 05-06-2020 05:45:00 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.