Dividend Declaration - Replacement

Toro Limited (Toro or the Company)

26 July 2017

Toro Declares Dividend for Quarter ended 30 June 2017

The Company is pleased to announce the payment of a dividend of EUR 0.02 per ordinary share for the period 1 April 2017 to 30 June 2017.

The dividend will be paid on 4 September 2017 to holders of ordinary shares recorded on the register as at close of business on 4 August 2017 with an ex-dividend date of 3 August 2017.

Further information in relation to the Company is available at:

http://www.torolimited.gg/

Enquiries:

Kirstie Sumarno

Chenavari Investment Managers

Email: [email protected]

Telephone: +44 20 7259 3600