THE PROSPECT JAPAN FUND LIMITED (a closed-ended investment company incorporated in Guernsey with registration number 28863) FUND NAME NAV SEDOL NAV DATE The Prospect Japan Fund $1.1945 B011QL4 13th February 2015 Limited Date: 13th February 2015 Note: The Fund's NAV above includes a holding in Prospect Co. of Yen 2,100 million convertible bonds (valued at par) and 3.621 million ordinary shares (valued at a price of Yen 101 per share) with Yen 900 million convertible bonds having been converted, following the initial conversion date of 5 January 2015, and 11.379 million ordinary shares arising sold. The convertible bonds can be convertible, at the option of the Fund, into shares of Prospect Co. at a price of Yen 60 per Prospect Co. share at any time prior to the redemption date of 25 May 2020. Enquiries: Northern Trust International Fund Administration Services (Guernsey) Limited Harry Rouillard 44 (0)1481 745315