Issue of Ordinary Shares

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AVI Japan Opportunity Trust PLC

Issue of Ordinary Shares

LEI: 894500IJ5QQD7FPT3J73

AVI Japan Opportunity Trust PLC (the "Company") announces that it has today issued 300,000 of its ordinary shares of 1 pence each ("Ordinary Shares") pursuant to its block listing facility. The Ordinary Shares were issued at a price of 111.50 pence per Ordinary Share and at a premium to the prevailing net asset value per Ordinary Share.

Following the issue of the Ordinary Shares, the Company's issued share capital will comprise 132,120,702 Ordinary Shares and this is the total number of Ordinary Shares with voting rights in the Company.

This figure (132,120,702) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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