Change of auditor

Gold Bullion Securities Limited

LEI: 213800EE1LGIXW16QB30

4 December 2019

Gold Bullion Securities Limited

Gold Bullion Securities

Auditor Change

Gold Bullion Securities Limited ("the Company") announces that with effect from 3 December 2019, it has changed its auditors from KMPG Channel Islands Limited to Ernst & Young LLP.

The review of the audit relationship was made in the interest of good governance and in conducting their review the directors of the Company considered both the services provided and fees charged by the prospective auditors. The change of auditors is not as a result of any actual or perceived disagreement, difference of opinion or problem with the existing audit relationship with KMPG Channel Islands Limited.

For further information please contact:

Ciaran Hocking

R&H Fund Services (Jersey) Limited

Tel: +44 (0) 1534 825200

Fax: +44 (0) 1534 825335

E-mail address: [email protected]