RICA Ruffer Investment Company Ltd

24^th December 2024

RUFFER INVESTMENT COMPANY LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 41966)

(the "Company")

Transaction in own Shares

The Company announces that pursuant to the general authority granted by shareholders of the Company on 30 November 2023 to make market acquisitions of its own Redeemable Participating Preference Shares ("Shares"), it repurchased 100,000 Shares at a price of GBP 2.694587 per share, to be held in treasury, on 23^rd December 2024. This represents approximately 0.026 per cent of the Company's current issued Shares.

Following this transaction, the Company has in issue 383,517,764 Redeemable Participating Preference Shares, of which 50,010,000 are held in treasury.

For reporting purposes under the FCA's Disclosure Guidance and Transparency Rules, the market should exclude any shares held in treasury and should use the figure of 333,507,764 voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

Enquiries:

Sanne Fund Services (Guernsey) Limited

Company Secretary

DDI: +44(0)020 353 3600

Email: ric@apexfs.group

Investec Bank plc

Broker

David Yovichic

DDI: +44(0)20 7597 4952

Email: David.yovichic@investec.co.uk

LEI: 21380068AHZKY7MKNO47