DIPULA INCOME FUND LIMITED - Change to the board of directors

Change to the board of directors

DIPULA INCOME FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/013963/06)
JSE share code: DIB      ISIN: ZAE000203394
(Approved as a REIT by the JSE)
("Dipula" or "the Company")


CHANGE TO THE BOARD OF DIRECTORS


Shareholders are advised that Ridwaan Asmal has resigned as financial director ("FD") of Dipula with effect from
1 March 2023. Sudesh Moodley has been appointed to replace Ridwaan as FD with effect from the same date. Ridwaan
will continue in a consulting capacity until the handover and transition is complete.

Sudesh is a qualified chartered accountant who previously held the position of Executive Head of Asset Management at
Eris Property Group. He managed a R10 billion property portfolio after serving as chief financial officer of the company
from 2012 to 2017. He has an extensive set of skills ranging from financial reporting, modelling and strategic asset
management and was instrumental in the company's growth initiatives, enabling superior returns. Sudesh has two
decades of work experience, of which 16 years have been in property, and has previously held positions at various
auditing firms including PwC, EY and BDO, both within South Africa and the USA.

The board of directors of Dipula (the "board") would like to welcome Sudesh and thank Ridwaan for his immense
contribution as FD of Dipula since his appointment in 2015. The board wishes him the very best in his future endeavours.

20 January 2023


Sponsor
Java Capital

Date: 20-01-2023 12:00:00
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