TwentyFour Update

13 June 2023

TwentyFour Income Fund Limited

(a non-cellular company limited by shares incorporated in the Island of Guernsey under the Companies (Guernsey) Law 2008, as amended, with registered number 56128 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission. LEI: 549300CCEV00IH2SU369)

Re: TwentyFour Update

TwentyFour Update

The Portfolio Manager of the Company, TwentyFour Asset Management ("TwentyFour" or "the firm"), can announce that Rob Ford and Gary Kirk will be retiring from the partnership in September, and transitioning to advisory roles at the firm.

Having helped co-found the business in 2008, they have been in discussion with the other partners for some time about stepping back from their day-to-day roles.

During his time at the firm, Rob has co-managed a number of TwentyFour's ABS product lines, most recently UK Mortgages Ltd which was launched in 2016 and subsequently merged into the TwentyFour Income Fund last year, and is now managed by the wider 10 person ABS team led by Douglas Charleston and Aza Teeuwen.

Gary has been co-managing the Multi Sector Bond investment team, including the TwentyFour Select Monthly Income Fund, since it was launched in 2009, and it has subsequently grown to 5 partners (including Gary) and 10 further investment professionals.

Rob and Gary will step off TwentyFour's Investment Committee, which sets the top-down macro risk appetite for the firm, but the remaining 10 members have an average industry experience of 20 years and tenure at the firm of 12 years.

Ben Hayward, CEO of TwentyFour, said "I would personally like to thank Rob and Gary for their contribution to the growth and success of the firm. They have both embodied the character of TwentyFour from the start, bringing market expertise, seeking to deliver the best outcomes for our strategies, and keen to impart their knowledge to our growing investment teams as well as clear communication to our investors."

Bronwyn Curtis, Chair of the TwentyFour Income Fund, said "the Board would like to thank Rob for his contribution to TFIF, in particular his role in the merger with UK Mortgages Ltd last year".

For further information, please contact:

Numis Securities Limited:

Nathan Brown             [phone]

Hugh Jonathan

TwentyFour Income Fund Limited:

John Magrath              [phone]

Alistair Wilson

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