TCL - Result of AGM

Friday 28th October 2022

The City of London Investment Trust plc announces that at the Annual General Meeting held earlier today all resolutions proposed were duly passed on a show of hands. This included seven special business resolutions:

- Resolution 10: to approve the dividend payment policy of paying four quarterly interim dividends in each year;

- Resolution 11: to authorise the Directors to allot ordinary shares up to 10% of the issued ordinary share capital;

- Resolution 12: to authorise the Directors to allot or to sell from treasury up to 10% of the issued ordinary share capital without first offering them to existing shareholders in accordance with statutory pre-emption procedures;

- Resolution 13: to authorise the Company to make market purchases of the Company’s ordinary shares;

- Resolution 14: to authorise the Company to make market purchases of the Company’s preferred stock;

- Resolution 15: to hold general meetings other than an Annual General Meeting on not less than 14 clear days’ notice; and

- Resolution 16: to authorise the Company to communicate with shareholders by electronic means.

The full text of the resolutions can be found in the circular to shareholders dated 16 September 2022 which can be viewed on the Company's website at: www.cityinvestmenttrust.com.

The proxy votes received in relation to each resolution are set out in the PDF attached.

Holders of ordinary shares have one vote for every 15 shares held, holders of first preference stock have one vote for every £10 of stock held and holders of preferred ordinary stock have one vote for every £20 of stock held.

A copy of the special business resolutions will be submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection on the NSM's website at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

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