Clarification of comparable earnings figures RESILIENT PROPERTY INCOME FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2002/016851/06) JSE share code: RES ISIN: ZAE000043642 (Approved as a REIT by the JSE) (“Resilient” or “the company”) CLARIFICATION OF COMPARABLE EARNINGS FIGURES Shareholders are referred to Resilient’s preliminary summarised audited consolidated financial statements for the year ended 30 June 2014, released on SENS on 5 August 2014. Given Resilient’s capital conversion, detailed in the circular issued to shareholders on 29 May 2014, linked debentures no longer exist within Resilient’s capital structure. In light of the capital conversion and in order to provide a meaningful basis of comparison for users of the financial information, management considered it appropriate to present a comparable basic earnings per share figure and a comparable headline earnings per share figure for the year ended 30 June 2014. The comparable basic earnings per share figure and the comparable headline earnings per share figure are presented in the consolidated statement of comprehensive income and the reconciliation of profit for the period to headline earnings, respectively, and were prepared to enable shareholders to compare the linked unit financial information from the results for the six months ended 30 June 2013 with the results for the year ended 30 June 2014. This comparable financial information has been compiled in a manner consistent with the preparation of basic earnings per linked unit and headline earnings per linked unit for the six months ended 30 June 2013. This comparable financial information was prepared for illustrative purposes only and has not been reviewed or reported on by Resilient’s auditors. 11 August 2014 Sponsor Java Capital Date: 11/08/2014 03:11:00 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.