Partial Compulsory Redemption of U.S. Dollar Shs

1 November 2019

Carador Income Fund plc (the "Company")

Partial Compulsory Redemption of U.S. Dollar Shares and Total Voting Rights

Following the redemption of 11,994,516 U.S. Dollar Shares at a rate of US$0.5836 per U.S. Dollar Share on 31 October 2019 (as previously announced on 21 October 2019), the Company now has 40,606,709 U.S. Dollar Shares in issue. With effect from today the Company's U.S. Dollar Shares will trade under the new ISIN number IE00BJVNV184.

On this basis, a holder of 10,000 U.S. Dollar Shares has had 2,280 U.S. Dollar Shares redeemed, and will receive US$1,330.60 in cash 22.8029% of the issued U.S. Dollar Share capital was redeemed.

In conformity with the FCA's Disclosure Guidance and Transparency Rules, the Company notifies that the Company's issued share capital consists of:

40,606,709 U.S. Dollar Shares of no par value

6,617,236 Repurchase Pool Shares of no par value

Each U.S. Dollar Share and each Repurchase Pool Share carries the right to 1 vote. The total number of voting rights in the Company is, therefore, 47,223,945. The Company holds no ordinary shares in treasury. The above figure 47,223,945 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

It is expected that the proceeds of the redemption will be paid through CREST to holders of U.S. Dollar Shares in uncertificated form, and paid by cheque to holders of Shares in certificated form, by 11 November 2019.

Capitalised terms used but not defined in this announcement shall bear the meanings ascribed to them in the Circular dated 23 November 2018.

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