Changes in shareholding 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”) CHANGES IN SHAREHOLDING In terms of the Rules and Regulations of the Luxembourg Stock Exchange (“LuxSE”), MAS is required to publish a notification whenever an investor’s shareholding crosses a pre-defined threshold. As a result of the increase in MAS’ issued and listed share capital due to the accelerated book build undertaken on 23 November 2017, the total number of MAS ordinary shares in issue and listed on the Euro MTF market of the LuxSE and the Main Board of the JSE has increased from 564,008,365 to 646,765,786. Consequently, the effective equity stake held by Argosy Capital Limited has fallen below the 10% level and Public Investment Corporation Soc Ltd’s equity stake is now above the 10% threshold. This announcement is voluntary in terms of the JSE Listings Requirements and is made for information purposes only. MAS is listed on the Main Board of the JSE and on the Euro MTF market of the Luxembourg Stock Exchange. 8 December 2017 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 +352 263 868 602 Date: 08/12/2017 04:00:00 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.