Dealings in securities by associates of directors of Dipula DIPULA INCOME FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2005/013963/06) JSE share code for A-linked units: DIA ISIN for A-linked units: ZAE000158317 JSE share code for B-linked units: DIB ISIN for B-linked units: ZAE000158325 (Approved as a REIT by the JSE) (“the company”) DEALINGS IN SECURITIES BY ASSOCIATES OF DIRECTORS OF THE COMPANY Linked unitholders are advised of the following information relating to dealings in securities by associates of directors of the company: Name of associate: Dipula BEE Trust Names of directors and relationship to directors: Saul Gumede, who is a trustee of the Dipula BEE Trust (“the Trust”) and who has a 40% beneficial interest in Dijalo Property Services (Pty) Ltd, a beneficiary of the Trust and Izak Petersen, who is a trustee of the Trust and who has a 38% beneficial interest in Mergence Africa Properties (Pty) Ltd, a beneficiary of the Trust. Transaction date: 24 March 2014 Class of securities: B-linked units Number of securities: 50 000 Price per security: R7.20 Total value: R360 000.00 Nature of transaction: On-market purchase Nature and extent of director’s interests: Indirect beneficial Name of associate: Dijalo Property Services (Pty) Ltd Name of director and relationship to director: Saul Gumede, who has a 40% beneficial interest in Dijalo Property Services (Pty) Ltd Transaction date: 24 March 2014 Class of securities: B-linked units Number of securities: 50 000 Price per security: R7.50 Total value: R375 000.00 Nature of transaction: On-market purchase Nature and extent of director’s interest: Indirect beneficial Name of associate: Dijalo Property Services (Pty) Ltd Name of director and relationship to director: Saul Gumede, who has a 40% beneficial interest in Dijalo Property Services (Pty) Ltd Transaction date: 25 March 2014 Class of securities: B-linked units Number of securities: 60 000 Price per security: R7.40 Total value: R444 000.00 Nature of transaction: On-market purchase Nature and extent of director’s interest: Indirect beneficial Name of associate: Dipula BEE Trust Names of directors and relationship to directors: Saul Gumede, who is a trustee of the Dipula BEE Trust (“the Trust”) and who has a 40% beneficial interest in Dijalo Property Services (Pty) Ltd, a beneficiary of the Trust and Izak Petersen, who is a trustee of the Trust and who has a 38% beneficial interest in Mergence Africa Properties (Pty) Ltd, a beneficiary of the Trust. Transaction date: 25 March 2014 Class of securities: B-linked units Number of securities: 40 000 Price per security: R7.39 Total value: R295 600.00 Nature of transaction: On-market purchase Nature and extent of director’s interests: Indirect beneficial 26 March 2014 Sponsor Java Capital Date: 26/03/2014 01:31:00 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.