Transaction in Own Shares

23 July 2020

UTILICO EMERGING MARKETS TRUST PLC

(LEI Number: 2138005TJMCWR2394O39)

Transaction in own shares

The Board of Utilico Emerging Markets Trust plc (the "Company") announces that on 23 July 2020 the Company purchased for cancellation 45,361 ordinary shares of 1p each at a price of 182.50p per share. The lowest/highest price paid per share was 182.50p/182.50p respectively.

Therefore, the total number of ordinary shares with voting rights in issue in the Company is now 224,322,382.

The above figure (224,322,382) 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 FCA's Disclosure Guidance and Transparency Rules.

Name of contact and telephone number for enquiries:

ICM Investment Management Limited +44(0)1372 271486

Charles Jillings / Alastair Moreton

Montfort Communications

Gay Collins, Pippa Bailey +44(0)20 3770 7913

utilico@montfort.london