Legal Entity Identifier: 2138009DIENFWKC3PW84

9 May 2022

Gulf Investment Fund PLC ("GIF" or the "Company")

Block Listing Application

The Company has made an application to the London Stock Exchange for a block listing of 2,700,000 Ordinary Shares of US$0.01 each ("Shares") to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange's main market for listed securities ("Admission").

The Shares to be issued under the block listing may be issued pursuant to the Company's existing authorities to issue new Shares on a non pre-emptive basis, to satisfy continuing market demand for the Shares and to manage the premium to NAV at which the Shares trade. Admission is expected to become effective at 8:00 a.m. on 10 May 2022.

For further information:

Anderson Whamond                                                                                                                    +44 (0) 1624 630 400

Gulf Investment Fund plc

Ian Dungate/Suzanne Jones                                                                                                       +44 (0) 1624 630 400

Apex Corporate Services (IOM) Limited

Sapna Shah/Alex Collins/Atholl Tweedie                                                                                  +44 (0) 20 7886 2500

Panmure Gordon

William Clutterbuck                                                                                                                      +44 (0) 7785 292 617

Maitland/AMO