Dipula

Investment Highlights

A and B unit structure

• 'Bond' characteristics – virtually nil risk to income returns
• Initial forward yield of 9.25%
• Initial interest cover ratio of 175%
• Growth of 5% p.a. until 31 August 2017,lower of CPI or 5% p.a. thereafter
• Issued in equal proportions initially (can never exceed number of B units in issue)

• Variable rate debenture with high anticipated growth from A and B unit structure
• Residual distributable income after distributions to A unitholders
• Initial forward yield of 10.73% – highest in the sector
• Over time the proportion of A’s to B’s may be reduced
• For foreseeable future will issue A’s and B’s in equal proportions