ASHOKA WHITEOAK EMERGING MARKETS TRUST PLC (the "Company")

LEGAL ENTITY IDENTIFIER ('LEI'): 254900Z4X5Y7NTODRI75

10 January 2024

REDEMPTION PRICE

As per the Company's announcement on 14 December 2023, the total number of Ordinary Shares in respect of which the Company received valid redemption requests for the 29 December 2023 Point was 14,014 (representing 0.04% of the issued share capital).

The calculated Redemption Price is 105.50 pence per Ordinary Share. All shareholders who validly applied to have their Ordinary Shares redeemed will receive this Redemption Price per Ordinary Share. It is expected that despatch of payments in respect of the valid redemption requests will be made on 15 January 2024.

Following this redemption, the issued share capital of the Company consists of 32,181,795 Ordinary Shares, of which no Ordinary Shares are held in Treasury. Therefore, the total number of voting rights in the Company is 32,181,795.

This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Defined terms in the announcement have the same meaning as set out in the Articles of Association, a copy of which may be obtained from the Company Secretary.

Enquiries:

Company Secretary

Registrar             

Computershare Investor Services PLC                                                 +44 (0) 370 702 0000

The Pavilions

Bridgwater Road

Bristol

BS13 8AE