METRICS MASTER INCOME TRUST — Net Asset Value 2021

Dec 2, 2021

==> picture [220 x 58] intentionally omitted <==

==> picture [126 x 43] intentionally omitted <==

==> picture [109 x 18] intentionally omitted <==

----- Start of picture text ----- The Trust Company (RE Services) LimitedABN: 45 003 278 831, AFSL: 235150----- End of picture text -----

The Manager Company Announcement Office Australian Securities Exchange Limited Level 6, Exchange Centre 20 Bridge Street Sydney NSW 2000

3 December 2021

Daily NTA Estimate

We advise that the unaudited Net Tangible Asset Backing (NTA) per share of the Metrics Master Income Trust is as follows:

Value Date NTA per Unit 2/12/2021 $2.0021

Yours Sincerely

Saranya Balajeyagaran

The Trust Company (RE Services) Limited As Responsible Entity for the Metrics Master Income Trust

About the Metrics Master Income Trust

The Investment Objective of the Metrics Master Income Trust is to provide monthly cash income, low risk of capital loss and portfolio diversification by actively managing diversified loan portfolios and participating in Australia's bank‐dominated corporate loan market. The Manager seeks to implement active strategies designed to balance delivery of the Target Return, while seeking to preserve investor

About The Trust Company (RE Services) Limited

The Responsible Entity for the trust is The Trust Company (RE Services) Limited (Perpetual) a part of the Perpetual group of companies. Perpetual is a financial services group operating in funds management, financial advisory and trustee services. For further information, go to www.perpetual.com.au

For further information, please contact:

www.metrics.com.au

All figures in Australian dollars (AUD) unless specified otherwise. For the purposes of reporting, NAV (Net Asset Value) and NTA (Net Tangible Assets) have the same value. Historical performance is not a reliable indicator of the future performance of the Fund.

==> picture [445 x 41] intentionally omitted <==