Distribution Guidance For The Year Ended 30 June 2016 DELTA AFRICA PROPERTY HOLDINGS LIMITED (Registered by continuation in the Republic of Mauritius) (Registration number 128881 C1/GBL) JSE share code: DLA SEM share code: DEL.N0000 ISIN: MU0473N00010 (“Delta Africa” or “Company”) DISTRIBUTION GUIDANCE FOR THE YEAR ENDED 30 JUNE 2016 Delta Africa shareholders are referred to the unaudited consolidated interim financial statements for the six months ended 31 December 2015 announced on 18 February 2016 (“the Announcement”) and are hereby advised that the distribution guidance provided below is in addition to the information contained in the Announcement. Given the performance of the Company during the 6 month period ended 31 December 2015, the benefit of a reduced total cost of borrowing, the stability of Delta Africa’s tenants in the various regions and the positive impact of the proposed inclusion of The Pivotal Fund’s African portfolio of assets, the board of directors of Delta Africa (the “Board”) is confident that the Company will achieve distribution growth of between 3% (or 11.63 USDc per share) and 6% (or 11.95 USDc per share) for the financial year ended 30 June 2016, when compared to the distribution for the financial year ended 30 June 2015 (11.28 USDc per share). The aforementioned distribution guidance assumes no major business disruptions and that the acquisitions currently in the pipeline are successfully implemented. This forecast is the responsibility of the Board and has not been reviewed or reported on by the auditors of Delta Africa. Delta Africa has its primary listings on both the Official Market of the Stock Exchange Mauritius Ltd and the Main Board of JSE Limited. 4 March 2016 PSG Capital Proprietary Limited JSE sponsor and corporate advisor to Delta Intercontinental Fund Services Limited Company Secretary to Delta Delta Africa directors: Sandile Nomvete (chairman), Greg Pearson*, Bronwyn Anne Corbett*, Peter Todd (lead independent), Maheshwar Doorgakant, Chandra Kumar Gujadhur, Ian Macleod and Leon van de Moortele* (*executive director) Company secretary of Delta Africa: Intercontinental Fund Services Limited Registered address of Delta Africa: Level 5, Alexander House, 35 Cybercity, Ebene, 72201, Mauritius Transfer secretary (South Africa) of Delta Africa: Computershare Investor Services Proprietary Limited Registrar and transfer agent (Mauritius) of Delta Africa: Intercontinental Secretarial Services Limited Corporate advisor and JSE Sponsor of Delta Africa: PSG Capital Proprietary Limited SEM sponsor of Delta Africa: Capital Markets Brokers Limited This notice is issued pursuant to SEM listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007. The Board of Directors of Delta Africa accepts full responsibility for the accuracy of the information contained in the announcement. Date: 04/03/2016 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.