Director Declaration

29 May 2019

RUFFER INVESTMENT COMPANY LIMITED

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

LEI 21380068AHZKY7MKNO47

Director Declaration

In accordance with the requirements of Listing Rule 9.6.14, the Company advises the following change to directorships in other publicly quoted companies, held by the following member of the Board:

Mr David Staples has been appointed a Non-Executive Director and Chairman of the Audit Committee of the board of Baker Steel Resources Trust Limited, a company listed on the Main Market of the London Stock Exchange, with effect from 29 May 2019.

There have been no other changes to the information set out in LR 9.6.13R (2) to LR 9.6.13R (6) in respect of Mr Staples.

Enquiries:

Praxis Fund Services Limited

Company Secretary

Shona Darling

DDI: +44(0)1481 755528

Email: ric@praxisifm.com