Appointment of Auditor

Pacific Assets Trust plc (“the Company”)

Appointment of Auditor

20 November 2020

Further to the announcement made by the Company on 1 October 2020, where it was confirmed that KPMG LLP had resigned as auditor to the Company, the Company announces that the Board has approved the appointment of BDO LLP as the Company's auditor for the financial year ending 31 January 2021. This follows a competitive tender process led by the Company’s Audit Committee. BDO LLP’s appointment as auditor to the Company will be proposed to shareholders at the Company’s next Annual General Meeting to be held in June 2021.

-ENDS-

For further information please contact:

Mark Pope  Frostrow Capital LLP - 020 3 008 4913