Board Changes- Appointment of New Chairman

2 May 2023

Pacific Assets Trust plc

(the “Company”)

Board Changes – Appointment of New Chairman

The Company announces that the Chairman of the Board, James Williams, intends to retire from the Company’s Board of Directors on 31 May 2023.  Mr Williams has been an independent non-executive director on the Board since 2013 and Chairman since 2015.

The Company further announces that Andrew Impey, an independent non-executive director who was appointed to the Board on 1 August 2022, will succeed Mr Williams as Chairman of the Board, with effect from 1 June 2023. 

The Board of Directors would like to take this opportunity to thank Mr Williams for his professionalism, commitment, and invaluable contribution to the Board during his tenure as Chairman and to wish him well for the future.

END

Frostrow Capital LLP

Company Secretary

Tel: [phone]