Net Asset Value(s)

Toro Limited (the Company)

20 September 2017

Net Asset Value Per Share

The Company announced the following unaudited net asset value per share as at 31 August 2017:

Ordinary Share: EUR 0.9935

The monthly factsheet will be published in due course.

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