Director/PDMR Shareholding

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')

In compliance with Rules 3.63 - 3.74 of the JSE Listings Requirements, the following information is disclosed:-

Director: Mr Mark Sorour

Company: Naspers Limited

Transaction date: 19 September 2018

Nature of transaction: Off market purchase and on market sale of securities: Mark Sorour exercised share appreciation rights in the Flipkart Private Limited share appreciation rights plan (vesting on dates as per above) and received 2 279 Naspers N ordinary shares in settlement of the gain. He then sold 1 034 Naspers N ordinary shares just to cover the tax on the exercise of the 12 009 share appreciation rights. The balance of 1 245 Naspers N ordinary shares was delivered to Mark Sorour.

Class of shares: 1 034 N ordinary

Total value of transaction: R3 291 811.38

Volume weighted average

price per share: R3 183.57

Highest price per share: R3 183.57

Lowest price per share: R3 183.57

Date of vesting in the group

share-based incentive plan: Share appreciation rights vest in five tranches in the Flipkart Private Limited share appreciation rights plan.

Offer dated 10 September 2014:

The first tranche of 617 appreciation rights vested on 10 September 2015; the second tranche of 617 appreciation rights vested on 10 September 2016; the third tranche of 617 appreciation rights vested on 10 September 2017; due to Naspers's disposal of its entire 11.18% stake in Indian ecommerce company Flipkart Online Services Pvt. Ltd (the "Flipkart" transaction), the fourth and fifth tranches of 617 and 618 appreciation rights, respectively, vested on 7 September 2018.

Offer dated 11 September 2015:

The first tranche of 942 appreciation rights vested on 11 September 2016; the second tranche of 942 appreciation rights vested on 11 September 2017; due to Naspers's disposal of its entire 11.18% stake in Indian ecommerce company Flipkart Online Services Pvt. Ltd (the "Flipkart" transaction), the third, fourth and fifth tranches of 942, 942 and 946 appreciation rights, respectively, vested on 7 September 2018.

Offer dated 30 August 2016:

The first tranche of 841 appreciation rights vested on 30 August 2017; the second tranche of 841 appreciation rights vested on 30 August 2018; due to Naspers's disposal of its entire 11.18% stake in Indian ecommerce company Flipkart Online Services Pvt. Ltd (the "Flipkart" transaction), the third, fourth and fifth tranches of 841, 841 and 845 appreciation rights, respectively, vested on 7 September 2018.

Mark Sorour had a defined period in which to exercise the share appreciation rights, failing which they would have lapsed.

Nature of interest: Direct Beneficial

Clearance: Clearance has been received in terms of paragraph 3.66 of the JSE Listings Requirements

Cape Town

21 September 2018

Sponsor: Investec Bank Limited