Disposal of investment property in Buchs, Switzerland MAS Real Estate Inc. Registered in the British Virgin Islands Registration number 1750199 JSE share code: MSP ISIN: VGG5884M1041 LEI code: 213800T1TZPGQ7HS4Q13 (“MAS” or “the Company”) DISPOSAL OF INVESTMENT PROPERTY IN BUCHS, SWITZERLAND INTRODUCTION Shareholders are advised that MAS, through its wholly-owned subsidiary, Petrusse Capital S.á.r.l., has entered into an agreement (“the transaction”) for the sale of its single-tenant logistics property with associated office space in Buchs, Switzerland (“the property”). The purchaser is Swiss Prime Site Immobilien AG, a listed real estate company based in Switzerland. RATIONALE FOR THE DISPOSAL Shareholders are referred to previous announcements in relation to the change in investment strategy involving the disposal of Western European investment property of the Company and a redeployment of capital to more attractive investments in Central and Eastern Europe. The transaction is a result, and consistent with the objectives, of this strategy. The proceeds of the transaction after taxes and mandatory settlements of senior debt facilities, will be redeployed in line with the above strategy. SALIENT TERMS OF THE DISPOSAL The sale price of the property is CHF 38.5 million (EUR 36.2 million), excluding VAT (“sale price”) which will be settled in cash upon completion. Completion is subject to the satisfaction of a condition precedent which requires practical completion of construction and extension works. The completion of the applicable construction works, that are estimated to cost CHF 5.9 million (EUR 5.6 million) in aggregate and that have commenced in 2020, have been contracted and are continuing according to schedule as at the date of this announcement. The transaction is anticipated to complete on or before 31 December 2020. The Directors are satisfied that the value of the property after completion of the applicable construction works, as determined by the directors of MAS is equivalent to the agreed sales price. The directors of MAS are not independent or registered as professional valuers or professional associate valuers in terms of the South African Property Valuers Profession Act 2000 or otherwise. As at 31 December 2019, the weighted average monthly rental per square metre of the property amounts to CHF 19.37 (EUR 18.23) and the gross lettable area was 5,699 sqm. The annualised net operating income of the property based on the reviewed consolidated interim results of the MAS group for six months ended 31 December 2019 (prepared in terms of International Financial Reporting Standards) is CHF 1.2 million (EUR 1.1 million). This is expected to increase following the completion of the extension works. The transaction is implemented as an asset sale with limited representations and warranties, consistent with general practice for a transaction of this type, provided by the selling subsidiary. CATEGORISATION OF THE DISPOSAL The disposal is categorised as a Category 2 transaction in terms of the JSE Listings Requirements and as such is not subject to shareholder approval. The closing European Central Bank exchange rate as at 8 July 2020 of 18:00 CET was used for the calculation of the above figures. MAS is listed on the Main Board of the Johannesburg Stock Exchange. 9 July 2020 For further information please contact: Dan Petrisor, MAS Real Estate Inc. +40 741 184 921 Java Capital, JSE Sponsor +27 11 722 3050 Date: 09-07-2020 05:05:00 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.