BAILLIE GIFFORD EUROPEAN GROWTH TRUST PLC ORD 2.5P

Baillie Gifford European Growth Trust plc (www.bailliegifford.com) is a United Kingdom-based investment company. The Company’s investment objective is to invest in a portfolio of European securities. The Company is invested in a diversified portfolio of between 30 and 60 European companies. No more than 10% of the value of the portfolio in aggregate may be held in securities in those countries, which are not included in the Financial Times Stock Exchange (FTSE) All-World European indices. The Company may not invest more than 10% of the value of the portfolio in any one individual stock at the time of investment. No more than 10% of the total assets of the Company may be invested in other listed investment companies, including investment trusts except in those that have stated that they invest no more than 15% of their total assets in other listed investment companies. In this case, the limit is 15%. The Company's alternative investment fund manager is Baillie Gifford & Co Limited.

• BAILLIE GIFFORD EUROPEAN GROWTH TRUST PLC ORD 2.5P