The Baillie Gifford Japan Trust PLC

27 July 2017

Legal Entity Identifier : 54930037AGTKN765Y741

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

662.41p

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

659.03p

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

658.42p

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

655.04p

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