Company Announcements

Naspers Limited

(Incorporated in the Republic of South Africa)

(Registration number 1925/001431/06)

JSE share code: NPN ISIN: ZAE000015889

LSE ADS code: NPSN ISIN: US 6315121003

("Naspers" or "the company")

NASPERS LIMITED ANNOUNCES COMPLETION OF ZAR 22.4BN SHARE REPURCHASE PROGRAMME

As previously advised to Naspers Limited ("Naspers") shareholders at the time of the placement by Naspers of N ordinary shares in Prosus N.V., Naspers today announces that the Naspers N ordinary share repurchase programme was completed on 24 March 2020. Since the commencement of the programme on 22 January 2020, a total of 9,156,705 Naspers N ordinary shares have been repurchased (representing c 2.06% of the issued Naspers N ordinary shares prior to the programme) for a total consideration of ZAR 22.4bn inclusive of transaction costs, which represents an average cost of ZAR 2,447.11 per Naspers N ordinary share.

Naspers is pleased with the performance of this programme which through the sale of shares of Prosus with a lower discount to Net Asset Value and the repurchase of Naspers N ordinary shares with a larger discount, unlocked approximately R3.3 billion in value.

The Naspers N ordinary shares repurchased in terms of the programme have been cancelled and delisted.  As a result, Naspers now has 435,511,058 N ordinary shares in issue.

The share repurchase programme was effected on the Johannesburg Stock Exchange, in accordance with the JSE Listings Requirements and within the scope of the authority conferred on Naspers at its annual general meeting held on 23 August 2019.

CAPE TOWN

6 April 2020

Sponsor: Investec Bank Limited

Enquiries:

About Naspers

Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
 
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies in the country. These include Takealot, Mr D Food, Superbalist, OLX, Autotrader, Property24 and PayU, in addition to Media24, South Africa's leading print and digital media business.
 
Naspers is also focused on stimulating South Africa's local tech sector through Naspers Foundry. This is a R1.4 billion investment targeting early stage technology companies in South Africa that seek to address big societal needs. To help address youth unemployment in impoverished communities, in 2019, Naspers launched Naspers Labs, a social impact programme for young, unemployed South Africans aged between 17 and 25. Located in low income, urban settings, Naspers Labs provide a structured development journey enabling young people to enter the economy.

Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).

For more information, please visit www.naspers.com.