BAILLIE GIFFORD UK GROWTH TRUST PLC

The Baillie Gifford UK Growth Trust aims to maximize capital growth over the long-term from investment primarily in shares of listed UK equities which have the potential to deliver a total return in excess of the FTSE All-Share Index. The portfolio is a high conviction, concentrated selection of our best ideas in the UK with a bias to mid and smaller cap growth companies. The Company invests in a portfolio of between 35 and 65 companies selected for their potential to provide, in aggregate, attractive returns relative to the total return of the FTSE All-Share Index. The portfolio is invested primarily in listed equities but may also invest in unlisted investments, including private companies, convertible securities, and equity-related derivatives.