Chenavari Toro Income Fund Limited (the Company) announced that the Board of directors of the Company and Chenavari Credit Partners LLP ("Chenavari") have agreed, that with effect from the date of this announcement, Benoit Pellegrini will hand over day to day responsibility for the portfolio management of the Company's investment portfolio within Chenavari to Frederic Couderc, in accordance with the succession plan agreed with the Board. Whilst he is stepping down from his role as the portfolio manager of the Company's portfolio, it has been agreed that Benoit Pellegrini will continue to assist Frederic Couderc until 30 September 2021, in order to ensure a smooth transition of the portfolio manager role.