Changes to the board of directors and change of company secretary SYNERGY INCOME FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2007/032604/06) JSE share code: SGA ISIN: ZAE000161550 JSE share code: SGB ISIN: ZAE000162293 (Approved as a REIT by the JSE) (“Synergy”) CHANGES TO THE BOARD OF DIRECTORS AND CHANGE OF COMPANY SECRETARY Linked unitholders are advised of the following changes to the board of directors of Synergy (“the board”) all of which are effective from 2 March 2015: Messrs Maurice Mdlolo and Uys Meyer, both non-executive directors of Synergy have resigned from the board. The board wishes to thank Messrs Mdlolo and Meyer for their valuable contributions to Synergy. Messrs Laurence Gary Rapp and Michael John Potts have been appointed as non-executive directors to the board with immediate effect. Mr Martin Kuscus has stepped down as chairman of the board and Mr Rapp will assume the role as non-executive chairman of the board. The board would like to thank Mr Kuscus for his leadership over the years. As Mr Rapp is deemed to be non-independent in terms of King III, Mr Lizwi Mtumtum, currently an independent non-executive director has been appointed as the lead independent non-executive director of Synergy. Mr Kuscus has been appointed as a member of the Audit and Risk Committee Linked unitholders are further advised that CIS Company Secretaries Proprietary Limited has resigned as the company secretary and Mr Johann Neethling has been appointed as the company secretary with effect from 2 March 2015. 3 March 2015 www.synergyincomefund.com Sponsor Java Capital Date: 03/03/2015 02:25:00 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.