Acorn Income Fund Limited (the "Company")                   
      (a closed-ended investment company incorporated with limited liability under 
                  the laws of Guernsey with registered number 34778)               

                            RESULT OF EXTRAORDINARY MEETING                        
                                   21 December 2016                                

    Further to the Extraordinary General Meeting Notice dated 29 November 2016 and
    sent to shareholders of the Company, the Extraordinary General Meeting was held
    on 20 December 2016 with all resolutions passed, as recommended by the
    Directors, thereby supporting the Continuation Offer to ZDP Shareholders, the
    adoption of new Articles to facilitate the Continuation Offer, the allotment of
    New ZDP Shares and the allotment of New Ordinary Shares on a non-pre-emptive
    basis.

    Details of the proxy voting results, which should be read alongside the Notice
    sent to shareholders, are noted below.

      Special Resolution            For                 Against               Abstain       
                                                                                            
              1                 10,175,568                 0                   3,337        
                                                                                            
     Ordinary Resolutions           For                 Against               Abstain       
                                                                                            
              2                  1,345,365                 0                   3,337        
                                                                                            
              3                  1,345,365                 0                   3,337        
                                                                                            
              4                  1,345,365                 0                   3,337        
                                                                                            
              5                  1,345,365                 0                   3,337        
                                                                                            
     Special Resolutions            For                 Against               Abstain       
                                                                                            
              6                  1,345,365                 0                   3,337        
                                                                                            
              7                  1,345,365                 0                   3,337        

    Note - A vote withheld is not a vote in law and has not been counted in the
    votes for and against a resolution.

    In accordance with Listing Rule 9.6.3, a copy of the resolutions will be
    submitted to the National Storage Mechanism and be available for inspection in
    due course at: www.morningstar.co.uk/uk/NSM . Enquiries: Company website: 
    https://www.premierfunds.co.uk/investors/investments/investment-trusts/
    acorn-income-fund Investment Manager: Premier Fund Managers Limited Nigel
    Sidebottom Tel: +44 (0) 1483 400 465 Email: nigelsidebottom@premierfunds.co.uk 
    Broker, Financial Adviser and Sponsor: Numis Securities Limited Nathan Brown
    Tel: +44 (0) 20 7260 1426 Email: n.brown@numis.com Company Secretary: Northern
    Trust International Fund Administration Services (Guernsey) Limited Cara De La
    Mare Tel: +44 (0) 1481 745498 Email: cd109@ntrs.com