Portfolio Update

PACIFIC ASSETS TRUST plc (the “Company”)

All data as at 31 January 2017

This data will be available on the Company’s website, http://www.pacific-assets.co.uk shortly.

Pacific Assets Trust plc as at 31 January 2017

Top Ten Equity Holdings	%
Vitasoy International Holdings	6.5
Tech Mahindra	5.1
Marico	4.6
Standard Foods	4.2
Taiwan Semiconductor Manufacturing	4.1
Chroma Ate	3.3
Manila Water	3.0
Kotak Mahindra Bank	3.0
Dr. Reddy’s Laboratories Unicharm	3.0 2.7
Total	39.5
Geographical breakdown	%
India	33.9
Taiwan Philippines	17.8 7.5
Hong Kong	6.5
Indonesia	4.4
Bangladesh	4.4
Thailand	3.8
Sri Lanka	3.2
Japan+ South Korea	2.7 2.7
Singapore China	2.4 2.1
Malaysia	1.4
United States*	1.1
Net Current Assets	6.1
Total	100.0
Actual Gearing	0.0

+Represented by a company listed in Japan but whose economic activities are predominantly within the Asia Pacific region.

*Represented by a company listed in the United States but whose economic activities are predominantly within the Asia Pacific region.

Note: All percentages are based on total assets less current liabilities

- ENDS-

14 February 2017

Frostrow Capital LLP

Secretary