Capital Raising

• Placement to wholesale investors at $1.10 per unit
• Unit Purchase Plan offered to Eligible Unitholders
• Proceeds to be used for additional investments

Perpetual Credit Income Trust (ASX:PCI) announces a capital raising through a placement to wholesale investors and a unit purchase plan for eligible unitholders. The placement will issue up to approximately 60.2 million new units at $1.10 per unit, a 4.8% discount to the Trust's closing share price on 8 July 2024. The unit purchase plan will allow eligible unitholders to apply for up to $30,000 worth of new units at the same price as the placement, without incurring brokerage or other transaction costs. The proceeds from the offers are intended to enable the Trust's investment manager to actively pursue additional investments in accordance with the Trust's investment strategy and approach, which aims to provide investors with monthly income, liquidity and low capital volatility. The Trust has delivered a 10.2% return over the past year, exceeding its target return of RBA cash rate + 3.25% p.a. (net of fees) through the economic cycle. The additional capital is expected to increase the Trust's size and liquidity, benefiting existing and new investors.

The Trust targets a total return of RBA cash rate + 3.25% p.a. (net of fees) through the economic cycle. This is a target only and may not be achieved.

Geopolitical headwinds, prevailing inflationary pressures, and a higher-for-longer view on rates continue to place pressure on markets, but the Trust's focus on well diversified floating rate Australian corporate credit is expected to provide protection against these conditions.