Please see below issued by the Manager today with a Portfolio Update as at 28 June 2024:

Dear Shareholder

EEA Life Settlements Fund PCC Limited (the “Fund”)

Portfolio Update as at 28 June 2024

At the reporting date of 28 June 2024, the Fund held 23 life insurance policies with a total net death benefit of USD 87.6 million. The average policy size (net death benefit) was approximately USD 3.80 million.The portfolio covered 16 illnesses, 17 lives and 13 insurance companies.Based upon weighted net death benefit, 96% of the portfolio was represented by insureds who were aged 80 or over, with an overall weighted average age of 93.2 years.

Despite the age distribution, none of the policies have an expiry date set before 2027 or before their expected date of maturity. On a discretionary basis, a decision can still be made for a policy to lapse if keeping it active is expected to negatively impact the future performance of the Fund.

At the start of 2024, the Fund’s independent valuation agent, Maple Life Analytics, projected portfolio maturities for the year of USD 23.9 million (with a range of between USD 0.9 million and USD 55.9 million).In 2024, there were 8 reported maturities with a total net death benefit of USD 15.7 million.

The portfolio NAV decreased over the last quarter following an 1% increase of the discount rate, offsetting the positive NAV impact of reported maturities.

The effects of GBP/USD movements over the quarter were on average around -0.05%.

As a result, during the period the overall NAV per Share of the Cells decreased: GBP New Continuing Cell: -0.89% and GBP New Run-Off Cell: -0.46%.

I will write to you again in around three months’ time with a further update on the Fund.

Yours faithfully

Martyn Roussel
Director
EPIC Investment Partners (Guernsey) Limited