PACIFIC ASSETS TRUST PLC                                                                                                                

NET ASSET VALUE

The estimated un-audited net asset value per share, calculated in accordance with the guidelines of the Association of Investment Companies, for Pacific Assets Trust plc at the close of business on 1 July 2022 was 356.96p (ex income) 358.06p (cum income).

For and on behalf of the Board
Frostrow Capital LLP
Secretary

04 July 2022