Ruffer Investment Company Regulatory News (RICA)

20 June 2022

RUFFER INVESTMENT COMPANY LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 41996)

(the "Company")

Block Listing Application

Further to the announcement on 16 June 2022, the Company announces that the application made to the Financial Conduct Authority and London Stock Exchange for the block listing with an admission date of 20 June 2022 is for 39,999,564 shares, rather than the previously announced amount of 43,002,564 shares.

Shares will be issued under the block listing to satisfy continuing demand that cannot be met through the secondary market, and the net proceeds of share issuance under the block listing will be invested in accordance with the Company's published investment policy. The Shares issued under the block listing will, when issued, rank pari passu with the existing Shares of the Company.

Enquiries:

Sanne Fund Services (Guernsey) Limited

Company Secretary

Katrina Rowe

DDI: +44(0)1481 737673

Email: ric@praxisifm.com

Investec Bank plc

Broker

David Yovichic

DDI: +44(0)20 7597 4952

Email: David.yovichic@investec.co.uk

LEI 21380068AHZKY7MKNO47