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) ("Dipula" or "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 Dipula: Name of associate: The Desmond Trust Name of director and relationship to director: Izak Petersen, who is a beneficiary of the Desmond Trust Transaction date: 12 September 2019 Class of securities: B ordinary shares Number of securities: 50 000 Highest traded price for the day: R4.00 Weighted average price per security: R3.90120 Lowest traded price for the day: R3.90 Total value: R195 060.00 Nature of transaction: On-market purchase Nature and extent of director's interest: Indirect beneficial Name of associate: The Desmond Trust Name of director and relationship to director: Izak Petersen, who is a beneficiary of the Desmond Trust Transaction date: 13 September 2019 Class of securities: B ordinary shares Number of securities: 15 000 Highest traded price for the day: R4.00 Weighted average price per security: R3.96670 Lowest traded price for the day: R3.89 Total value: R59 500.50 Nature of transaction: On-market purchase Nature and extent of director's interest: Indirect beneficial 16 September 2019 Sponsor Java Capital Date: 16/09/2019 05:09:00 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.