Pacific Assets Regulatory News (PAC)

16 October 2023

Pacific Assets Trust plc

(the "Company")

Appointment of New Director

The Board of Pacific Assets Trust plc is pleased to announce the appointment of Nandita Sahgal as an independent Non-executive Director of the Company, with effect from 1 January 2024.

Ms Sahgal is the Senior Independent Director and Chair of the Audit Committee at the UK India Business Council and a Non-executive Director at Murray Income Trust Plc. Previously, she was a Managing Director, Infrastructure Asset Management at ThomasLloyd Group Ltd.

Ms Sahgal has over 25 years' emerging markets experience working in asset management, equity capital markets and M&A at ThomasLloyd Group, Insinger de Beaufort and Seymour Pierce. Prior to joining ThomasLloyd, Nandita was Chief Executive Officer at IL&FS Global Financial Services (UK) Ltd., the UK subsidiary of the investment banking arm of IL&FS. She holds a Bachelors in Economics and Business from The University of Edinburgh, is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) and a Member of the Chartered Institute for Securities and Investment.

Ms Sahgal has also been appointed to the Company's Audit Committee, Engagement and Remuneration Committee, and Nominations Committee with effect from 1 January 2024. She will offer herself for election by the Company's shareholders at the next Annual General Meeting to be held in July 2024.

There is no information to disclose in respect of paragraphs 9.6.13(1) to 9.6.13(6) of the Financial Conduct Authority's Listing Rules.

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