DIPULA INCOME FUND LIMITED - Posting of notice of general meeting

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
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