Directorate Change

27 September 2023

FAIR OAKS INCOME LIMITED

(the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

Appointment of Non-Executive Director

The Board of the Company is pleased to announce the appointment of Richard Burwood as a non-executive Director of the Company and Chairman of the Board with effect from 27 September 2023.

Mr Burwood is a resident of Guernsey with over 30 years' experience in banking and investment management. During 18 years with Citibank London, he spent 11 years as a fixed income portfolio manager spanning both banks/corporate investments and Asset Backed Securities.

Mr Burwood has lived in Guernsey since 2010, initially working as a portfolio manager for EFG Financial Products. From 2011 to 2013, he worked as the Business and Investment Manager for Man Investments, Guernsey.From January 2013 to September 2023, he served on the board of TwentyFour Income Fund, a Guernsey company specialising in Asset-Backed investments.

In January 2014, Mr Burwood joined the board of RoundShield Fund, a Guernsey fund, focused on European small to mid-cap opportunities. In August 2015, he became a Board Member of Funding Circle SME Income Fund Ltd, which provided investors access to a diversified pool of SME loans originated through Funding Circle's marketplaces in the UK, US and Europe.

Mr Burwood also serves on the boards of Habrok, a hedge fund specialising in Indian equities, EFG International Finance (Guernsey) Ltd, a structured note issuance vehicle and Highland CLO Funding Ltd, an investor in US CLOs.

In line with the Board's Succession Plan, Dr Claudio Albanese stood down from the position of the Chairman of the Board but remains as non-executive Director.

There are no other matters in respect of Listing Rule 9.6.13 of the Financial Conduct Authority's Listing Rules, to be declared.

Enquiries:

Fair Oaks Income Limited

Email: [email protected]

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: +44 (0) 20 3034 0400

Email: [email protected]

Sanne Fund Services (Guernsey) Limited

Email:  [email protected]

Numis Securities Limited

Nathan Brown, Investment Banking

DDI: +44 (0) 20 7260 1426

Email: [email protected]

Liberum Capital Limited

Chris Clarke, Investment Banking

DDI: +44 (0) 20 3100 2190

Email: [email protected]

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through FOIF II LP and FOMC III LP) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing.