Director/PDMR Shareholding

1.

Details of person discharging managerial responsibilities/person closely associated with them

a)

Name

Judith Bauernfreund

2.

Reason for the notification

a)

Position / status

PCA to Mr Joseph Bauernfreund, PDMR

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

AVI Japan Opportunity Trust PLC

b)

LEI

894500IJ5QQD7FPT3J73

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument

Identification Code

Ordinary Shares of £0.01 each

GB00BD6H5D36

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

d)

Aggregated information

- Aggregated volume

- Price

20,000

£24,760

e)

Date of the transaction

10.05.2023

f)

Place of the transaction

London Stock Exchange (XLON)