Change of Registrar

Chenavari Toro Income Fund Limited (the Company)

1 May 2020

Change of Registrar

The Company announces that, following an extensive review and in-depth due-diligence process on several registrar service providers, the Board of the Company is pleased to announce the appointment of Computershare Investor Services (Guernsey) Limited (Computershare) as Registrar to the Company with effect from 1 May 2020.

The Board is confident that Computershare has the technology and expertise required to provide an enhanced Registrar service to the Company and its shareholders.

Further information in relation to the Company is available at:

http://www.chenavaritoroincomefund.com

Enquiries:

Kirstie Sumarno or Guy Goyard

Chenavari Investment Managers

Email: tlir@chenavari.com

Telephone: +44 20 7259 3600