Dealings in securities by an associate of a director of the company DIPULA INCOME FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2005/013963/06) JSE share code: DIA ISIN: ZAE000203378 JSE share code: DIB ISIN: ZAE000203394 (Approved as a REIT by the JSE) (“the company”) DEALINGS IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR OF THE COMPANY Shareholders are advised of the following information relating to dealings in securities by an associate of a director of the company: Name of associate: Dijalo Property Services (Pty) Ltd Name of director and relationship to director: Saul Gumede, who owns 40% of Dijalo Property Services (Pty) Ltd Transaction date: 26 January 2017 Class of securities: A ordinary shares Number of securities: 103 000 Highest trade price per security:* R10.00 Weighted average price per security: R9.80580 Lowest trade price per security:* R9.80 Total value: R1 009 997.40 Nature of transaction: On-market sale Nature and extent of directors’ interest: Indirect beneficial Name of associate: Dijalo Property Services (Pty) Ltd Name of director and relationship to director: Saul Gumede, who owns 40% of Dijalo Property Services (Pty) Ltd Transaction date: 27 January 2017 Class of securities: A ordinary shares Number of securities: 250 000 Price per security: R10.00 Total value: R2 500 000.00 Nature of transaction: On-market sale Nature and extent of directors’ interest: Indirect beneficial *Highest and lowest traded prices per security on the market on the day. 31 January 2017 Sponsor Java Capital Date: 31/01/2017 09:55:00 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.