Press release

Exchange of Shares in MakeMyTrip for Shares in Ctrip

Sponsored by Businesswire

Naspers Limited (JSE: NPN; LSE: NPSN) announced today an exchange
of its interest in MakeMyTrip Limited (“MakeMyTrip”) (NASDAQ:MMYT) for a
5.6% stake in 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

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 2019
Sponsor: 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 (;
SEHK 00700), (;
LSE: MAIL), MakeMyTrip Limited (;
NASDAQ:MMYT) and DeliveryHero (;
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).

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