2 Chairmans overview Investment review Manager video - PowerPoint PPT Presentation

These slides are intended to highlight some key points about Witan Pacific Investment Trust plc, for the use of shareholders, analysts and other professional investors. This material is for informational purposes only and does not constitute a solicitation or a personal recommendation in any jurisdiction. No reliance may be placed for any purpose on the information and opinions contained in this document or their accuracy or completeness. No part of this material may be copied, photocopied or duplicated in any form or distributed to any person that is not an employee, officer, director or authorised agent of the recipient, without Witan Investment Services Limited's prior permission. Important note: Please remember that past performance is not a guide to future performance. Witan Pacific Investment Trust is an equity investment. The value of an investment and the income from it can fall as well as rise as a result of currency and market fluctuations and you may not get back the amount originally invested. Issued and approved by Witan Investment Services Limited. Witan Investment Services Limited is registered in England no. 5272533 of 14 Queen Anne’s Gate, London SW1H 9AA. The VAT registration number for Witan Investment Services Limited is 863 5738 89. Witan Investment Services Limited provides investment products and services and is authorised and regulated by the Financial Conduct Authority. 2

Chairman’s overview  Investment review  Manager video commentaries  Summary from Witan Investment Services  Question and answer discussion  Formal business of the meeting  Afternoon Tea  3

To provide shareholders with capital and income growth  from a diversified portfolio of investments in the Asia Pacific region, employing a multi-manager approach To increase the dividend per share ahead of UK inflation  rates Outperform the MSCI All Countries Asia Pacific Free Index  (in £ Sterling terms) 5

6

A volatile year for Asian markets, after strong performance  in 2014 Initial exuberance replaced by risk aversion. Recent  market performance (post year-end) is more encouraging NAV total return - 5.6%, 0.3% ahead of the benchmark’s  -5.9%* Share price total return -3.5%, as the discount narrowed*  Total dividend for the year raised by 2.2% to 4.65p*  Current year (to 31.05.16) NAV total return 6.6%,  benchmark 5.4% and share price total return 2.8% Please see Important note on slide 2 7

115 110 105 100 95 90 85 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Benchmark total return Witan Pacific share price total return Witan Pacific NAV total return Source : Datastream Please see Important note on slide 2 8

Update from Louis-Vincent Gave , Chief Investment Officer, and Alfred Ho , Head of Asian Equities, Gavekal 9

Update from Robert Horrocks , Chief Investment Officer, Matthews Asia and Co-Portfolio Manager 10

Update from Hugh Young , Managing Director, Aberdeen Asset Management Asia Ltd 11

Performance Benchmark Performance Benchmark % since since Portfolio Manager 12m to 12m to managed appointment appointment 31.01.16 31.01.16 p.a. p.a. Aberdeen (since 31.5.05) 41.1 -12.3 -5.9 9.1 7.2 Matthews (since 30.4.12) 47.9 3.5 -5.9 9.6 5.6 Gavekal (since 24.4.12) 11.0 -3.0 -5.9 7.0 5.9 Since Since 10 years 10 years 31.5.05 31.5.05 NAV total return (to 31.01.16) 5.2 4.3 7.9 7.2 Source : WM Performance Services Please see Important note on slide 2 13

In the 11 years since the multi- manager strategy was adopted: 107% rise in NAV, 140% NAV total  return cf. benchmark 119%* Dividend increased fourfold*  Outperformed in 8 out of the 11  years* 5-year total return 14.6% cf.  benchmark 15.3% (share price total return 20.7%) Source : Datastream/WM Performance Services Please see Important note on slide 2 14

Final dividend of 2.5p, making 4.65p for the year (+2.2%)  11 th consecutive year of dividend growth*  Please see Important note on slide 2 15

Discount improvement in recent years helped by better  relative performance from the Japanese market Buybacks used when shares at an anomalously wide discount.  (224,978 repurchased 2015/16 at 12-13% discounts. 312,175 repurchased since 31.01.16 at 13-16% discounts) Source: Datastream Please see Important note on slide 2 16

Country allocations  driven by company prospects not benchmark weights Diversified exposure  to the region’s major centres Details are published  in the Company’s monthly factsheets on www.witanpacific.com 17

Japanese exports – 37%  to Asia, 18% to the US China’s top 3 Asian  export markets = 23% of exports (US 19%) 62% of Australian  exports go to 4 Asian markets, 4% to the US. Source: Datastream 18

  100 110 120 130 140 80 90 Recent reality has been different – Japan ahead over 3 & 5 years 1990-2010 Investor perceptions coloured by Japan’s underperformance from Please see Important note on slide 2 28/06/2013 28/07/2013 28/08/2013 28/09/2013 28/10/2013 28/11/2013 28/12/2013 28/01/2014 28/02/2014 31/03/2014 30/04/2014 Tokyo Stock Exchange Topix TR £ 31/05/2014 30/06/2014 31/07/2014 31/08/2014 30/09/2014 31/10/2014 30/11/2014 31/12/2014 31/01/2015 MSCI ASIA ex JAPAN TR £ 28/02/2015 31/03/2015 30/04/2015 31/05/2015 30/06/2015 31/07/2015 31/08/2015 30/09/2015 Source: Datastream 31/10/2015 30/11/2015 31/12/2015 31/01/2016 29/02/2016 31/03/2016 30/04/2016 31/05/2016 19

The region benefits from lower commodity prices, being a net  importer Monetary policy being eased in the region’s major economies  Regional perspective a benefit in evaluating developments, as  economic interdependence grows Despite the slowdown and growth transition in China, regional  economic growth expected to continue at relatively rapid rates Fed policy worries overblown  20

Objective : to outperform the regional index in total return terms  and deliver real income growth Managers actively select investments independent of  benchmark weightings Record of dividend growth and total return outperformance  since inception of multi-manager strategy in 2005* 2015-16 was a year when investors focused on risks from Chinese  economic rebalancing and weaker global growth. Relative valuations cheaper as 2016 began. 2016-17 Despite early volatility, positive returns achieved to date.  The managers have fundamentally driven, benchmark-agnostic approaches to seeking long term outperformance Please see Important note on slide 2 21

Individual years to end-Mar 2016 2015 2014 2013 2012 MSCI Asia Pacific total return [A] -6.4 22.3 -4.7 15.9 -3.7 Witan Pacific Share price total return* -10.1 26.2 -12.5 25.0 2.1 Witan Pacific NAV total return* [B] -5.0 20.9 -10.2 18.0 -0.6 Relative NAV performance* [B-A] 1.4 -1.4 -5.4 2.1 3.1 Source : Morningstar Please see Important note on slide 2 22

23

Resolution Votes Cast Total Votes For plus Discretion (valid proxies received prior to the meeting) For Against Discretion Withheld Total Cast (excluding withheld) 1 32,935,133 12,523 171,128 7,726 33,118,784 33,106,261 2 32,289,084 360,300 182,192 293,220 32,831,576 32,471,276 3 32,936,587 12,056 165,728 12,139 33,114,371 33,102,315 4 32,335,312 490,479 182,352 118,366 33,008,143 32,517,664 5 32,105,271 794,042 165,728 61,469 33,065,041 32,270,999 6 32,768,853 138,343 165,728 53,586 33,072,924 32,934,581 7 32,027,286 517,668 165,728 415,828 32,710,682 32,193,014 8 32,391,616 425,964 182,192 126,738 32,999,772 32,573,808 9 32,591,767 331,806 178,943 23,994 33,102,516 32,770,710 10 31,029,856 1,884,510 165,728 46,416 33,080,094 31,195,584

Total Shares in Issue = 65,944,000 Total Voting Rights = 65,374,684 1 Percentage of Shares Voted = 50.23% 2 1 Voting rights as at 6 June 2016. Voting rights exclude shares held in treasury. 2 Percentage based on validly received proxy votes prior to the meeting in respect of Resolution 1.