6 May 2022

FAIR OAKS INCOME LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

PUBLICATION OF ANNUAL FINANCIAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING

The Company is pleased to announce that the Annual Report for the year ended 31 December 2021 (the "Annual Report") has today been posted to shareholders.

The Company also announces that the Annual General Meeting ("AGM") of the Company will be held at Sarnia House, Le Truchot, St Peter Port, Guernsey on Tuesday 14 June 2021 at 10.00 a.m. Copies of the Notice of AGM and proxy cards have been posted to shareholders.

Copies of the Annual Report, Notice of AGM and proxy cards will also be available on the Company's website (http://www.fairoaksincome.com) and at the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

Enquiries:

Fair Oaks Income Limited

Email: contact@fairoaksincome.com

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: +44 (0) 20 3034 0400

Email: ir@fairoakscap.com

Sanne Fund Services (Guernsey) Limited

Ben Le Prevost

DDI: +44 (0) 1481 755524

Email: Ben.LePrevost@praxisifm.com

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: +44 (0) 20 7260 1426

Email: n.brown@numis.com

Liberum Capital Limited

Chris Clarke, Investment Banking

DDI: +44 (0) 20 3100 2190

Email: chris.clarke@liberum.com

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through FOIF II LP and FOMC III LP) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing.