Dividend Declaration

Toro Limited (Toro or the Company)

24 April 2017

Toro Declares Dividend for Quarter ended 31 March 2017

The Company is pleased to announce the payment of a dividend of EUR 0.0150 per ordinary share for the period 1 January 2017 to 31 March 2017.

The dividend will be paid on 2 June 2017 to holders of ordinary shares recorded on the register as at close of business on 05 May 2017 with an ex-dividend date of 04 May 2017.

Further information in relation to the Company is available at:

http://www.torolimited.gg/

Enquiries:

Kirstie Sumarno

Chenavari Investment Managers

Email: tlir@chenavari.com

Telephone: +44 20 7259 3600