Director Declaration

20 December 2023

Pacific Assets Trust plc

(the "Company")

Director Declaration

Pursuant to LR 9.6.14, the Company acknowledges that Charlotta Ginman, a Non-Executive Director of the Company, has been appointed as a Non-Executive Director of JPMorgan Indian Investment Trust PLC, with effect from 1 August 2024.

As announced in the Company's last half yearly report for the six months ended 31 July 2023, Ms Ginman will retire from the Board of Pacific Assets Trust plc at the next Annual General Meeting to be held in July 2024.

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Contact information:

Katherine Manson

Frostrow Capital LLP

Company Secretary

0203 709 8734