14 December 2022

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 250,000 ordinary shares at a price of 84.00 pence per share, to be held in treasury, on 14 December 2022.

Following this transaction, the Company has in issue 442,033,518 ordinary shares of which 6,007,459 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 436,026,059 voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

For further information, please contact:

Gravis Capital Management Limited                                                                                  +44 (0) 20 3405 8500

Rollo Wright

Phil Kent

Joanne Fisk

Investec Bank plc                                                                                                                  +44 (0) 20 7597 4000

Helen Goldsmith                    

Denis Flanagan                  

Neil Brierley        

Buchanan/Quill                                                                                                                      +44 (0)20 7466 5000

Helen Tarbet

Sarah Gibbons-Cook

Henry Wilson   

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 Group 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.