Company Announcements

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, CANADA, JAPAN, NEW ZEALAND AND THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MAY RESULT IN THE CONTRAVENTION OF ANY REGISTRATION OR OTHER LEGAL REQUIREMENT OF SUCH JURISDICTION

This announcement contains inside information for the purposes of Article 7 of Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and as amended ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Legal Entity Identifier: 2138009DIENFWKC3PW84

9 September 2024

Gulf Investment Fund PLC

("GIF" or the "Company")

Tender Offer update

On 22 August 2024, the Company announced the launch of a tender offer for up to 100 per cent. of each Shareholder's holding in the Company (the "Tender Offer"). The Company has received irrevocable commitments pursuant to the Tender Offer to tender Shares which result in the minimum size condition in respect of the Tender Offer (being a post Tender Offer share capital of not less than 38,000,000 Shares) not being met. As a result, the Tender Offer will no longer proceed in accordance with tender terms and conditions set out in the circular of the Company dated 28 November 2023 (the "Circular").

As set out in the Circular, the Directors will instead put forward proposals to Shareholders for the Company to be wound up with a view to returning cash to Shareholders or to enter into formal liquidation (the "Proposals").

The Company will publish a circular as soon as practicable setting out details of the Proposals and to convene a general meeting at which approval for the Proposals will be sought from shareholders.

For further information:

Anderson Whamond                                                                                                   Via Apex Corporate Services

Gulf Investment Fund plc

Frazer Pickering/Suzanne Jones                                                                                               +44 (0) 1624 630400

Apex Corporate Services (IOM) Limited

Alex Collins/Ashwin Kohli                                                                                                          +44 (0) 20 3100 2000

Panmure Liberum Limited

William Clutterbuck                                                                                                                    +44 (0) 20 7379 5151

Maitland/AMO