Directorate Change

RUFFER INVESTMENT COMPANY LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 41996)

LEI 21380068AHZKY7MKNO47

Appointment of Non-Executive Director

The Board of Ruffer Investment Company Limited is pleased to announce the appointment of Shelagh Mason as a non-executive director of the Company with effect from 1 June 2020.

In line with the Company's succession plan Mrs Mason, a Guernsey resident, will replace John Baldwin who will be retiring on 31 May 2020, as a non-UK domiciled director.

Mrs Mason is a solicitor specialising in English commercial property as a consultant with Collas Crill LLP. She is a past Chairman of the Guernsey Branch of the Institute of Directors and a member of the Chamber of Commerce, the Guernsey International Legal Association and she also holds the IOD Company Direction Certificate and Diploma with distinction.

Mr Ashe Windham, Chairman said:

"We are delighted to welcome Shelagh to the Board and I'm confident that she will have a great deal to contribute, given her background and expertise. Shelagh currently serves as a director on the Board of The Renewables Infrastructure Group, a FTSE 250 investment company, and she stepped down from the board of Medicx Fund Limited in 2017. Whilst we are very pleased that Shelagh will be joining us on 1 June, we are sad to be bidding farewell to John Baldwin, who has provided peerless service over the past 9 years. We wish him well. With Nick Pink's arrival on 1 September and my departure at the end of the year our near term succession planning will be complete."

In compliance with paragraph 9.6.13 of the Financial Conduct Authority's Listing Rules, the Company advises that Mrs Mason is also a non-executive director of The Renewables Infrastructure Group, a company listed on the Main Market of the London Stock Exchange, as well as a director of Channel Islands Property Fund which is listed on The International Stock Exchange. There are no other disclosures required to be made pursuant to paragraph 9.6.13 in connection with the appointment.

Enquiries:

Praxis Fund Services Limited

Shona Darling

DDI: +44(0)1481 755528

Email: [email protected]