MAS P L C : Changes to the board of directors

MAS P.L.C.

Registered in Malta Registration number C99355

JSE share code: MSP

ISIN: VGG5884M1041

LEI code: 213800T1TZPGQ7HS4Q13

('MAS' or the 'Group')

CHANGES TO THE BOARD OF DIRECTORS

Shareholders are advised that Martin Slabbert has stepped down as Chief Executive Officer ('CEO') and Executive Director of MAS and will remain a member of MAS' Board of Directors (the 'Board') as a Non-Executive Director.

Martin stepping down from his current executive position is the result of excellent progress achieved by MAS in its transition towards a fully focused Central and Eastern European property investor and operator, since the transaction with Prime Kapital in November 2019, and the appointment of Prime Kapital founders Martin Slabbert and Victor Semionov as Executive Directors of MAS. The terms of the transaction included a mandate of up to three years for the appointed executives to oversee the re-positioning and transitioning of the business before returning to Prime Kapital on a full-time basis. The transition has now substantially completed. MAS' pre-existing and ongoing business relationship with Prime Kapital via the development joint venture is expected to continue having a major positive impact on the Group's future financial performance.

The Board expresses their profound gratitude to Martin for his invaluable contribution and steering MAS through this transition period exacerbated by the Covid-19 pandemic. MAS is well-placed to execute on the ambitious but achievable strategic targets adopted, which are expected to generate best in class long-term total shareholder returns.

Martin is replaced as CEO by Irina Grigore (MAS' former Chief Financial Officer ('CFO') and Deputy CEO) whose CFO responsibilities are transferred to Raluca Buzuleac (former Deputy CFO). Following the changes to the

Board, MAS' three Executive Director roles have been assigned to individuals with no affiliation to, or interest in, Prime Kapital and allow the two groups to remain closely connected for the foreseeable future with independent executives.

All changes to the Board are effective from 21 April 2022.

22 April 2022

For further information please contact:

Leon Allison, MAS P.L.C.	+ 27 82 307 3667
Dan Petrisor, MAS P.L.C.	+ 40 741 184 921
Java Capital, JSE Sponsor	+ 27 11 722 3050