The Baillie Gifford Japan Trust PLC

1 August 2017

Legal Entity Identifier : 54930037AGTKN765Y741

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

657.14p

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

653.86p

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

653.67p

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

650.39p

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