Transaction in Own Shares

27 March 2023

GCP Asset Backed Income Fund Limited

(the "Company" or "GCP Asset Backed")

LEI: 213800FBBZCQMP73A815

Transaction in own shares

GCP Asset Backed, which invests in asset backed loans, today announces that pursuant to the general authority granted by shareholders of the Company at the annual general meeting on 17 May 2022 to make market purchases of its own ordinary shares, it repurchased 100,000 ordinary shares at a price of 70.00 pence per share, to be held in treasury, on 27 March 2023.

Following this transaction, the Company has in issue 442,033,518 ordinary shares of which 14,007,459 are held in treasury.

For reporting purposes under the FCA's Disclosure Guidance and Transparency Rules the market should exclude any shares held in treasury and should use the figure of 428,026,059 voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

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Notes to Editors

GCP Asset Backed is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which are secured against contracted, predictable medium to long term cash flows and/or physical assets.