MAS PLC - Cautionary announcement

Cautionary announcement

MAS P.L.C.
Registered in Malta
Registration number C 99355
JSE share code: MSP
ISIN: VGG5884M1041
LEI code: 213800T1TZPGQ7HS4Q13
('MAS')

CAUTIONARY ANNOUNCEMENT


Shareholders are advised that MAS has entered into negotiations with Prime Kapital regarding the acquisition by MAS of Prime Kapital's 60% interest
in PKM Development Limited (the 'DJV'). If concluded successfully, the acquisition would effectively terminate the DJV arrangements, with MAS and
Prime Kapital continuing their respective investment strategies independently from one another. Any transaction agreed between the parties will be
subject to approval by shareholders in a general meeting.

This transaction would give MAS full ownership and control of the high-quality commercial assets in the DJV, which benefit from low levels of gearing.
These assets include Carolina Mall, Arges Mall and Mall Moldova (the latter an asset currently under development and expected to be complete in
April 2025). Other benefits would include improved credit rating prospects for MAS and improved access to debt, as well as a significantly simplified
structure.

The ongoing process is expected to conclude by end of the 2024 calendar year, when a further announcement will follow. In the meantime, pending
further announcements, shareholders are advised to exercise caution in dealing in their MAS shares.

26 November 2024


For further information please contact:
Irina Grigore, MAS P.L.C.                      +356 27 66 36 91
Java Capital, JSE Sponsor                      +27 (0)78 456 9999 




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Date: 26-11-2024 08:30:00
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