LOWLAND INVESTMENT COMPANY PLC

As at close of business on 25 November 2015, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 1357.0p.

As at the close of business on 25 November 2015, the unaudited net asset value per share (excluding current financial year revenue items) was 1336.1p.

Wendy King

Henderson Global Investors

Telephone: 020 7818 4233