Murray International Trust PLC (the "Company")

Legal Entity Identifier (LEI):  549300BP77JO5Y8LM553

30 December 2021

Amendment to Management Fee

The Board and Manager are pleased to inform Shareholders of an agreed reduction in the level of management fees payable by the Company with effect from 1 January 2022.

With effect from 1 January 2022 the management fee will be 0.5% per annum of Net Assets up to £500m and 0.4% per annum of Net Assets above £500m.  Up to 31 December 2021 the existing management fee will continue to be charged at the rate of 0.5% of Net Assets up to £1,200m and 0.425% of Net Assets above £1,200m. Save for the aforementioned changes, all other terms and conditions contained in the Company's Management Agreement dated 14 July 2014 (as amended) remain unaltered.

Aberdeen Asset Management PLC

Company Secretary