Posting of notice of general meeting 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) (“Dipula” or the “company”) POSTING OF NOTICE OF GENERAL MEETING Dipula shareholders are referred to the terms announcement released on SENS on 16 October 2017 (the “terms announcement”) in terms of which Dipula advised their shareholders that they had concluded a transaction which will, once implemented, effectively internalise the asset management function of Dipula (the “transaction”). Dipula shareholders are advised that Dipula has today, 15 November 2017, posted a notice of general meeting to Dipula shareholders (the “notice”) containing full details of the transaction. A general meeting of Dipula shareholders will be held at 10:00 on Thursday, 14 December 2017 at the registered office of Dipula (Block B Dunkeld Park, 6 North Road, Dunkeld West, Johannesburg) (the “general meeting”) for the purposes of considering and, if deemed fit, passing, with or without modification, the resolutions required to be approved by shareholders in order to authorise and implement the transaction. The notice is available in electronic format on the company’s website at www.dipula.co.za. Unless specified otherwise, terms in this announcement bear the same meaning as in the terms announcement. SALIENT DATES AND TIMES 2017 Record date for receipt of notice of the general meeting Friday, 10 November Last day to trade in order to be eligible to participate in and vote at the general meeting Tuesday, 5 December Record date for purposes of voting at the general meeting (“voting record date”) Friday, 8 December General meeting held at 10:00 Thursday, 14 December Results of the general meeting announced on SENS Thursday, 14 December Results of the general meeting published in the press Friday, 15 December Notes: 1. All dates and times are local dates and times in South Africa and are subject to change. Any changes will be announced on SENS and published in the press. 15 November 2017 Corporate advisor and sponsor Java Capital Legal advisors Cliffe Dekker Hofmeyr Independent expert MAZARS Date: 15/11/2017 04:37:00 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.