Witan Pacific Investment Trust plc 102 nd Annual General Meeting 9 th June 2009

1. Witan Pacific Investment Trust plc102nd Annual General Meeting9th June 2009

2. Agenda Chairman’s statement Executive Manager’s update Questions and answers session Formal business of the meeting

3. Witan Pacific Investment Trust plcChairman’s Statement

4. Investment objective • To provide a balanced portfolio of investments in the Asia Pacific region • To outperform the MSCI AC Asia Pacific Free Index (£) • Using a multi-manager approach to add value and diversify risk

5. A different world to 12 months ago • Drying up of liquidity • Collapse of consumer confidence • Rapid collapse of global economy • Melt down of stock markets FTSE All Share World GDP Oil Source: Datastream, 1998-2009

6. Asia not immune India & China Asia Pacific Japan Source: Datastream. 31.01.08 to 31.01.09

7. The benefits of portfolio diversification MSCI AC Asia Pacific vs. FTSE All Share (£) Asia Pacific FTSE All Share Source: Datastream. 31.01.08 to 31.05.09

8. Performance to 31.01.09 & 31.05.09 Data Source: Datastream 1yr data to 31.01.093yrs,4yrs and 5yrs data to 31.05.09 * The Net Asset Value figures value debt at fair value**Benchmark: MSCI AC Asia Pacific Free Index (£)

9. 2009 Dividend + Special Yamaha Motor Case study • Dividends increasing year on year: • Reserves represent 8.3x 2009 standard dividend

10. Witan Pacific Investment Trust plc WPC Board Witan Investment Services Ltd Aberdeen Nomura Phoenix Company Secretary Other Service Providers

11. Review of Investment Managers' Performance Monthly and quarterly reports Regular Board presentations Ad-hoc meetings Forthcoming review by Board in Singapore and Tokyo offices

12. Outlook for Asia Pacific Less personal and bank debt Fewer credit problems Strong local demand in emerging economies but not decoupled from Western Economies Should rebound faster than the West when upturn comes

13. Witan Pacific Investment Trust plcExecutive Manager’s Update Mark LynamWitan Investment Services

14. Agenda Aberdeen and Nomura Performance Summary

15. Complementary mix of managers

16. Investment philosophy and process Country allocation Source: Datastream

17. Sector allocation Source: Datastream

18. Portfolio performance year ending 31st Jan 2009 Aberdeen -15.5% Nomura -19.5%

19. Aberdeen – key points Japan portfolio -3.3% v -4.5% for Japan Index Pacific ex Jap portfolio -19.6% v -29.9% for Pacific ex Jap Index Stock selection was positive in all countries except Australia, Hong Kong & Korea. Asset allocation in Hong Kong, India and Singapore were negatives. Source Aberdeen (£)

20. Nomura - key points Japan portfolio -8.0% v - 4.5% for Japan Index Pacific ex Jap portfolio -31.9% v -29.9% for Pacific ex Jap Index Poor stock selection was the main cause of underperformance. Both Japan and ex Japan portfolios were negative with some positive stock selection in Taiwan & Singapore. Overall country allocation was positive. Japan was a negative whilst Asia Pac was a positive. Source Nomura (£)

21. Portfolio return 31.05.2005 to 31.01.2009 (£) total return annualised Combined portfolio + 5.4% MSCI Asia Pacific Index + 4.3% Aberdeen + 6.5% Nomura + 4.4% Source WM and Analytics (£)

22. Aberdeen key points since 31.05.05 Aberdeen have added significant value relative to benchmark at total portfolio level Source Aberdeen (£)

23. Nomura key points since 31.5.05 Nomura have added marginal value relative to benchmark at total portfolio level Source Nomura (£)

24. Investment philosophy and process Asia Pacific remains attractive investment proposition Witan Pacific provides multi-manager solution including Japan Multi-manager structure complementary styles of quality managers Board has strategic option to refine manager line up Meeting objective to beat MSCI Index in a cost effective manner Summary

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