City of London Investment : Change of auditor

CITY OF LONDON

Investment Group PLC

12th March 2024

Dear Shareholder

Appointment of Grant Thornton UK LLP

As has been previously announced, the Company has appointed Grant Thornton UK LLP as its new auditor following the conclusion of a tender process. As required by section 519 of the Companies Act, upon ceasing to hold office as the Company's auditor, RSM UK Audit LLP ('RSM') has provided a statement ('Statement') to the Company confirming the reason for its resignation. The Company is required by the Act to send a copy of this statement to all its shareholders.

We thank RSM UK Audit LLP for their significant contribution as CLIG's auditor over recent years and we look forward to working with Grant Thornton UK LLP.

A copy of RSM's Statement is provided over the page.

Yours sincerely

Rian Dartnell

Chair

City of London Investment Group PLC

77 Gracechurch Street London EC3V 0AS

Telephone: [phone] Facsimile: [phone]

Email: [e-mail] Website: http://www.clig.com

Registered Office as above

Registered in England No. 2685257 VAT No. 629 6908 93

Our ref: GW/BM/1099328/ce/L02

The Directors

City of London Investment Group plc 77 Gracechurch Street

London EC3V 0AS

To the Directors of City of London Investment Group plc - Company Number 02685257

RSM UK Audit LLP

25 Farringdon Street

London

EC4A 4AB

United Kingdom

1. [phone] rsmuk.com

1 March 2024

Statement in accordance with s.519 of the Companies Act 2006 to City of London Investment Group plc - Company Number 02685257 on ceasing to hold office as auditors

In accordance with section 519 of the Companies Act 2006, the reasons for our ceasing to hold office are as follows:

The company held a competitive tender for the audit and has appointed another auditor.

Yours sincerely

RSM UK AUDIT LLP

25 Farringdon Street

London, EC4A 4AB

Registration number 3341

RSM UK Corporate Finance LLP, RSM UK Legal LLP, RSM UK Restructuring Advisory LLP, RSM UK Risk Assurance Services LLP, RSM UK Tax and Advisory Services LLP, RSM UK Audit LLP, RSM UK Consulting LLP and RSM UK Creditor Solutions LLP are limited liability partnerships registered in England and Wales, with registered numbers OC325347, OC402439, OC325349, OC389499, OC325348, OC325350, OC397475 and OC390886 respectively. RSM UK Employer Services Limited, RSM UK Tax and Accounting Limited and RSM UK Management Limited are registered in England and Wales with numbers 6463594, 6677561 and 3077999 respectively. RSM Northern Ireland (UK) Limited is registered in Northern Ireland at Number One Lanyon Quay, Belfast, BT1 3LG with number NI642821. All other limited companies and limited liability partnerships are registered at 6th Floor, 25 Farringdon Street, London, EC4A 4AB. The UK group of companies and LLPs trading as RSM is a member of the RSM network. RSM is the trading name used by the members of the RSM network. Each member of the RSM network is an independent accounting and consulting firm which practises in its own right. The RSM network is not itself a separate legal entity in any jurisdiction.

RSM UK Legal LLP is authorised and regulated by the Solicitors Regulation Authority, reference number 626317.