Cancellation of Treasury Shares

20 October 2020

Alcentra European Floating Rate Income Fund Limited

Cancellation of Treasury Shares

Alcentra European Floating Rate Income Fund Limited ("the Company") notifies the market that it has cancelled all 28,193,862 of its shares held in treasury, as a result of which the Company now holds 0 (zero) shares in treasury.

As notified in the Company's Total Voting Rights announcement of 1 October 2020, the Company's issued share capital consists of 5,106,272 ordinary shares.

Each ordinary share carries the right to 1.2 votes. Therefore the total number of voting rights in the Company is 6,127,526. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

BNP Paribas Securities Services S.C.A., Guernsey Branch

Company Secretary

Jasper Cross

01481 750859