Scottish Mortgage Investment Trust PLC

21 June 2017

Legal Entity Identifier : 213800G37DCS3Q9IJM38

Net Asset Value with borrowings at par - including current year income

409.02p

  XD

Net Asset Value with borrowings at fair value - including current year income

404.58p

  XD

Net Asset Value with borrowings at par - excluding current year income

408.00p

Net Asset Value with borrowings at fair value - excluding current year income

403.55p

Net Asset Values are calculated in accordance with published accounting policies and AIC guidelines

The fair value of the debentures is calculated using a closing market offer price