Sales Update for the 12 Weeks to 25 March 2018 Massmart Holdings Limited (Incorporated in the Republic of South Africa) (Registration Number: 1940/014066/06) Share code: MSM ISIN: ZAE000152617 (‘Massmart’, ‘the Company’ or ‘the Group’) SALES UPDATE FOR THE 12 WEEKS TO 25 MARCH 2018 Included within the Massmart Integrated Annual Report for the year ended 31 December 2017 released today on the Massmart website is the following outlook paragraph: ‘The Group’s sales performance for the first 12 weeks of 2018 has been soft which is a trend noted by other participants in South African retail. Total sales growth is slightly positive while comparable sales growth is slightly negative, with product deflation of -0.4%. Sales growths in Rands from our stores outside South Africa are at similar levels as these Group figures. Food sales growth remains low due to ongoing deflation in commodities, which should move into inflation from April/May 2018. As noted in the CFO letter, this year Massmart is adopting IFRS 15 which will impact our reported sales for this 2018 financial year and beyond. The growth trends referred to above are however reported on the same basis as last year. Notwithstanding the soft start to 2018, we are hopeful that the 2018 sales environment will improve as various positive factors (the stronger Rand, low inflation and lower interest rates) lift consumer sentiment and spending. Whilst South Africa’s new political leadership and direction will, in the short to medium term, undoubtedly improve many economic factors, the structural, policy and public sector impediments remain long-term challenges. This is undoubtedly South Africa’s best shot in recent memory at reinvigorating our own social, economic and political progress and prowess, and restoring our place as a key actor on the African continent. We are an excited and proud South African company.’ The above information has not been reviewed and reported on by the Company`s external auditors. Johannesburg 18 April 2018 Sponsor: Deutsche Securities (SA) Proprietary Limited Date: 18/04/2018 04:02:00 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.