Trading statement 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”) TRADING STATEMENT Dipula uses distribution per share as its relevant measurement of financial results, and accordingly, in terms of the Listings Requirements of the JSE, it is required to publish a trading statement as soon as it becomes reasonably certain that the distribution per share for the next period to be reported on will differ by at least 15% from that of the prior corresponding period. Shareholders are accordingly referred to the Company’s SENS announcement released on Wednesday, 29 April 2020, wherein Dipula advised that it had deferred its decision regarding the declaration of a dividend in respect of the interim six month period ended 29 February 2020 (28 February 2019: 54.83455 cents per Dipula A share and 42.50296 cents per Dipula B share) pending further evaluation of the impact of the COVID-19 pandemic and resultant national lockdown on the Company. In this regard, shareholders are referred to the full disclosure contained in the interim results announcement for the six months ended 29 February 2020, which announcement will be released on SENS on Monday, 18 May 2020. This financial information has not been reviewed or reported on by the Company’s auditors. 15 May 2020 Sponsor Java Capital Date: 15-05-2020 12:45:00 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.