WITAN PACIFIC INVESTMENT TRUST PLC INVESTMENT MANAGERS Location - PowerPoint PPT Presentation

Investor presentation June 2020 WITAN PACIFIC INVESTMENT TRUST PLC

INVESTMENT MANAGERS Location Style Allocation * Quality and growth at Singapore 26% an attractive price Unconstrained value Santa Monica 9% with small-cap bias San Francisco Dividend growth 40% Value with awareness Hong Kong 25% of momentum *As at 31 st January 2020 WITAN PACIFIC INVESTMENT TRUST 2

ASSET ALLOCATION Philippines Other Singapore Portfolio Benchmark India Japan 36 38 Taiwan China 29 28 Japan S Korea 9 7 Australia Australia 7 9 Taiwan 6 7 India 4 5 S Korea Singapore 4 2 Philippines 1 1 Other 4 3 China Percent of Gross Assets, excluding cash. Source: BNP Paribas as at 31.05.20 WITAN PACIFIC INVESTMENT TRUST 3

TOP 20 HOLDINGS % % Samsung Electronics Korea 3.7 Shin-Etsu Chemical Japan 1.1 Taiwan Semiconductor Taiwan 2.9 AIA Group China 1.1 Tencent China 2.8 LG Chemical Korea 1.0 AIA Group China 1.5 Macquarie Group Australia 1.0 1.4 Ntt Docomo Japan 1.0 Minth Group China Hoya Japan 1.3 Keppel DC REIT Singapore 1.0 Misumi Group Japan 1.3 Ping An Insurance China 1.0 Anritsu Corporation Japan 1.2 Seven & I Holdings Japan 1.0 China Resources Land China 1.2 Sun Art Retail Group China 1.0 Pigeon Corporation Japan 1.1 Shin Zu Shing Taiwan 0.9 Percent of Gross Assets, excluding open-ended funds Source: BNP Paribas as at 31.05.20 WITAN PACIFIC INVESTMENT TRUST 4

YEAR TO 31 JANUARY 2020 • NAV total return of +5.2 % and share price total return of +12.3 %, compared with benchmark total return of +8.7 % • Annual dividend of 7.15p, a 2.1% increase on the previous year. 15th consecutive increase in regular annual dividend • Aberdeen outperformed the benchmark while Matthews, Robeco and Dalton underperformed • Ongoing charges were 1.00% excluding performance fees (2019: 1.03%), 1.07% including performance fees, see important note on page 14 • Discount narrowed to 8.4% from 14.1% • 1.25m shares repurchased (£4.2m) at average discount of 10.5%. Uplift of 0.8p per share Past performance is not a guide to future performance WITAN PACIFIC INVESTMENT TRUST 5

MANAGER PERFORMANCE TO 31.01.20 Appointment % of Assets 1 Performance Benchmark Performance Benchmark Date FY 2020 (%) performance since performance FY 2019* appointment since (%) 2 appointment (%) 2* Matthews 30.04.12 39.6 +2.4 +8.7 +10.1 +9.4 Aberdeen 31.05.05 26.4 +14.7 +8.7 +10.6 +8.8 Robeco 28.09.17 24.8 +4.5 +8.7 +2.4 +4.9 Dalton 28.09.17 9.2 +4.3 +8.7 -2.6 +4.9 Source: BNP Paribas. All performance figures are disclosed on a pre-fee basis 1. Excluding cash balances held centrally by the Company 2. Annualised performance *The benchmark is the MSCI AC Asia Pacific Free Index (£) Past performance is not a guide to future performance WITAN PACIFIC INVESTMENT TRUST 6

REVENUE EPS AND DIVIDEND RECORD • 4.6p final dividend declared making 7.15p for the full year, 2.1% ahead of last year • 15 consecutive years of growth in the regular dividend at an annualised rate of 13.6% • Revenue reserve equal to three years dividend Interim Final Special EPS 9 8 7 6 5 4 3 2 1 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: Witan Pacific / BNP Paribas Past performance is not a guide to future performance WITAN PACIFIC INVESTMENT TRUST 7

SHARE PRICE DISCOUNT 0% -2% -4% -6% -8% -10% -12% -14% -16% -18% -20% 2010 2012 2014 2016 2018 2020 Discount 1y Average Discount • Shares repurchased when trading at a substantial and anomalous discount to NAV Past performance is not a guide to future performance Source: Morningstar (to 31.05.20) WITAN PACIFIC INVESTMENT TRUST 8

CURRENT YEAR TO 31.05.2020 • NAV total return of -1.9 % and share price total return of +1.2 %, compared with benchmark total return of -2.2 % • Markets dominated by COVID-19. Asia has faired comparatively well • Marginal impact on current year revenue earnings . Uncertainty remains. Company has significant revenue reserves • Three of the four manager s outperformed the benchmark • Discount narrowed to 5.4% from 10.7% • 193k shares repurchased at an average discount of 7.6% Past performance is not a guide to future performance WITAN PACIFIC INVESTMENT TRUST 9

RECORD SINCE MAY 2005 Financial 1 year 3 years 5 years 10 years Since YTD inception (31.05.2005) Share Price (Total Return) 1.2 7.1 13.5 38.9 121.6 259.8 Net Asset Value (Total Return) -1.9 1.2 3.0 30.2 89.2 227.4 Benchmark (Total Return)* -2.2 3.6 11.8 40.8 104.9 235.4 NAV (Total Return) relative 0.3 -2.4 -8.8 -10.5 -15.8 -8.1 Share Price (Total Return) 3.4 3.5 1.6 -1.8 16.7 24.4 relative Source: Morningstar (figures to 31.05.2020) *The benchmark is the MSCI AC Asia Pacific Free Index (£) Past performance is not a guide to future performance WITAN PACIFIC INVESTMENT TRUST 10

INVESTMENT OUTLOOK • Economic shutdown led to deepest recession in living memory. Asian economies better placed than western counterparts • Shutdown winners and those able to adapt are best placed to benefit from the crisis • Investors starting to look beyond the immediate economic consequences to the recovery which will follow in due course but • Threats of political unrest and ‘second spike’ remain. China-US tensions resurfacing following the end-2019 hiatus • Central banks and governments responding to crisis with fiscal and monetary stimulus • ESG considerations are gaining increasing significance Past performance is not a guide to future performance WITAN PACIFIC INVESTMENT TRUST 11

DISCRETE 12 MONTH PERFORMANCE Q1 2015 Q1 2016 Q1 2017 Q1 2018 Q1 2019 Q1 2016 Q1 2017 Q1 2018 Q1 2019 Q1 2020 Share Price (Total Return) -10.1 33.2 6.6 4.1 -3.2 Net Asset Value (Total Return) -5.0 31.2 5.5 -0.1 -10.5 Benchmark (Total Return)* -6.4 34.6 7.5 2.4 -7.3 NAV Total Return relative 1.4 -3.3 -2.1 -2.5 -3.2 Source: Morningstar *The benchmark is the MSCI AC Asia Pacific Free Index (£) Relative numbers may not add up due to rounding All performance for the discrete years to 31 st March Past performance is not a guide to future performance WITAN PACIFIC INVESTMENT TRUST 12

DISCLAIMER 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. Ongoing charges and costs: The Key Information Document on the Company’s website contains a measure of costs calculated in accordance with EU PRIIPS regulations, which includes average figures over a period. In accordance with AIC guidance, Witan continues to calculate the Ongoing Charges Figure for the annual report on a consistent basis with those published in previous years, to facilitate comparison. 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 SW1H9AA. The VAT registration number for Witan Investment Services Limited is 863573889.Witan Investment Services Limited provides investment products and services and is authorised and regulated by the Financial Conduct Authority. WITAN PACIFIC INVESTMENT TRUST 13

DISCLAIMER MSCI information. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction, The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non- infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com) WITAN PACIFIC INVESTMENT TRUST 14