Financial Effects and Withdrawal of Cautionary Announcement DIPULA INCOME FUND LIMITED (Incorporated in the Republic of South Africa (Registration number 2005/013963/06) JSE code for A-linked units: DIA ISIN for A-linked units: ZAE000158317 JSE code for B-linked units: DIB ISIN for B-linked units: ZAE000158325 (“Dipula” or “the company”) FINANCIAL EFFECTS AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT INTRODUCTION Linked unitholders are referred to the announcement released on SENS on 12 November 2012 regarding the acquisition of Tembisa Mega Mart, which property is currently under development (the “acquisition”). The purpose of this announcement is to present the financial effects of the acquisition. UNAUDITED PRO FORMA FINANCIAL EFFECTS OF THE ACQUISITION The effect of the acquisition on Dipula’s net asset value per A-linked unit and B-linked unit, net asset value excluding deferred taxation per A-linked unit and B-linked unit, basic earnings per A-linked unit and B-linked unit and headline earnings per A-linked unit and B-linked unit and distributable earnings per B-linked unit are not significant (less than 3%) and therefore have not been disclosed. The unaudited pro forma financial effects have not been reviewed or reported on by the company’s auditors. Given the rights to distribution attaching to the A-linked unit the acquisition will have no impact on the distributable earnings per A-linked unit. WITHDRAWAL OF CAUTIONARY Dipula linked unitholders are advised that following the release of the financial effects of the acquisition, caution is no longer required to be exercised by linked unitholders when dealing in their linked units. Johannesburg 20 December 2012 Corporate advisor and sponsor Java Capital Date: 20/12/2012 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.