18 May 2023

Nippon Active Value Fund plc

LEI: 213800JOFEGZJYS21P75

Appointment of Joint Corporate Broker

The Board of Nippon Active Value Fund plc (the "Company" or "NAVF") is pleased to announce the appointment of Joh. Berenberg, Gossler & Co KG, London Branch ("Berenberg") as Joint Corporate Broker to work alongside Shore Capital, with immediate effect.

NOTES TO EDITORS

About NAVF

NAVF is an Investment Trust listed on the Specialist Fund Segment of the London Stock Exchange. The investment advisor of NAVF is Rising Sun Management Limited. NAVF is targeting attractive levels of capital growth for shareholders from the active management of a focused portfolio of quoted small cap Japanese equity investments. The investment advisor, Rising Sun Management Limited, targets companies which are attractive, undervalued and have a substantial proportion of their market capitalisation held in cash and/or listed securities and/or realisable assets.

Enquiries

Company Secretary                                        Brian Smith/Maria Matheou

                                                                                Tel: +44 (0) 20 3327 9720

Berenberg                                                          Gillian Martin/Dan Gee-Summons/Arnav Kapoor

                                                                                Tel: +44 (0)20 3207 7800

Shore Capital                                                     Robert Finlay/Rose Ramsden/Fiona Conroy

                                                                         Tel: +44 (0) 20 7408 4090