NPSN.L Regulatory News (NPSN)

Naspers Limited(Incorporated in the Republic of South Africa)(Registration number 1925/001431/06)JSE share code: NPN ISIN: ZAE000015889LSE ADS code: NPSN ISIN: US 6315121003("Naspers" or "the company" or "the Group")

EXCHANGE OF SHARES IN MAKEMYTRIP FOR SHARES IN CTRIP

Naspers announced today an exchange of its interest in MakeMyTrip Limited ("MakeMyTrip") (NASDAQ:MMYT) for a 5.6% stake in Ctrip.com International Limited ("Ctrip") (NASDAQ:CTRP), a well-known provider of online travel and related services headquartered in China (the "Share Exchange Transaction").  The Share Exchange Transaction allows Ctrip to enjoy a larger exposure to the India travel market and benefit from the growth of MakeMyTrip. It also allows MakeMyTrip to benefit from Ctrip's significant global scale.

MakeMyTrip has transformed travel in India and beyond since 2000. The Share Exchange Transaction is a significant step in the growth ambitions of both MakeMyTrip and Ctrip. Naspers's continued investment through its interest in Ctrip should create additional value for Naspers and its shareholders.

The Share Exchange Transaction is expected to close as soon as practicable in the second half of 2019, and is subject to customary closing conditions, including the requisite regulatory approvals.

Cape Town

26 April 2019Sponsor: Investec Bank Limited

About Naspers

Naspers is a global consumer internet group and one of the largest technology investors in the world. Operating and investing in countries and markets across the world with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. The group operates and partners a number of leading internet businesses across the Americas, Africa, Central and Eastern Europe, and Asia in sectors including online classifieds, food delivery, payments, travel, education, health, and social and internet platforms.

Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, BYJU'S, Codecademy, eMAG, Honor, ibibo, iFood, letgo, Media24, Movile, OLX, PayU, SimilarWeb, Swiggy, Takealot, and Udemy.

Similarly, hundreds of millions of people have made the platforms of its associates a part of their daily lives: Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT) and DeliveryHero (www.deliveryhero.com; Xetra: DHER).

Today, Naspers companies and associates help improve the lives of around a fifth of the world's population. Naspers actively searches for new opportunities to partner exceptional entrepreneurs who are using technology to address big societal needs.

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