NPN: NASPERS LIMITED - Directors Dealing

NPN: NASPERS LIMITED - Directors Dealing Directors Dealing NASPERS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1925/001431/06) Share code: NPN ISIN: ZAE000015889 LSE ADS code: NPSN ISIN: US 6315121003 (`Naspers´ or `the company´) DIRECTORS DEALING In compliance with Rules 3.63 - 3.74 of the JSE Listings Requirements, the following information is disclosed:- Director: Mr Bob van Dijk Company: Naspers Limited Transaction date: 14 January 2020 Nature of transaction: on market sale of securities Class of shares: 414 932 N ordinary Total value of transaction: R995 836 800.00 Volume weighted average price per share: R2 400.00 Highest price per share: R2 400.00 Lowest price per share: R2 400.00 Date of vesting in the group share-based incentive plan: Share appreciation rights vested in five tranches in the share appreciation rights plan. The first tranche of 1 493 226 appreciation rights vested on 12 September 2015; the second tranche of 1 493 226 appreciation rights vested on 12 September 2016; the remaining tranches were not included in this transaction. Nature of transaction: Bob van Dijk exercised share appreciation rights in the Naspers Global Ecommerce Share Appreciation Rights plan (vesting on dates as per above) and received 414 932 Naspers N ordinary shares in settlement of the gain. He then sold 414 932 Naspers N ordinary shares. The Naspers Global ecommerce share appreciation rights plan reflects the value of Naspers´s main internet businesses excluding Tencent. For a participant to make a gain under the scheme rules, the valuation on the exercise date must be greater than the value on the grant date. Any gains accrued are settled in Naspers shares. Further details of the scheme and its operation can be found in the Naspers Remuneration Report FY19 on www.naspers.com. Bob van Dijk will reinvest most of the resulting funds back into the Naspers group in the form of bonds which he will buy on the open market. Bob van Dijk continues to exceed the CEO minimum shareholding requirement of 10X his salary. Nature of interest: Direct Beneficial Clearance: Clearance has been received in terms of paragraph 3.66 of the JSE Listings Requirements Cape Town 15 January 2020 Sponsor: Investec Bank Limited Date: 15-01-2020 05:45:00 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.