GCP Asset Backed Income Fund Limited

(the "Company")

LEI: 213800FBBZCQMP73A815

Extension to term of Revolving Credit Facility

7 July 2023

GCP Asset Backed, which invests in asset backed loans, refers to its £50 million Revolving Credit Facility ("RCF") with Royal Bank of Scotland International Limited, maturing in August 2023 and is pleased to announce that the RCF has been extended by 12-months on the same terms as the previous facility, extending the maturity date to August 2024.

The current drawn balance on the RCF is £48,050,000.

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Notes to Editors

GCP Asset Backed is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Group seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which are secured against contracted, predictable medium to long term cash flows and/or physical assets.