Performance Attribution Call

Toro Limited (the Company)

4 July 2017

Performance Attribution Call

Chenavari Investment Managers will be hosting the next quarterly performance attribution call for the Company, to discuss the Company's Q2 performance and outlook for 2017.

The call will take place on 26 July 2017 at 2pm UK Time with Benoit Pellegrini, Senior Portfolio Manager, conducting the call.

Please note that this call will be an open call. Participants may pose any questions at the end of the call and the portfolio manager will endeavor to respond to them.

Please register your interest in joining the call by emailing tlir@chenavari.com no later than close of business on 24 July 2017. Attendance will be limited to professional investors. The dial in details will be provided to registered participants ahead of the call.

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