The Baillie Gifford Japan Trust PLC

2 August 2017

Legal Entity Identifier : 54930037AGTKN765Y741

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

660.16p

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

656.89p

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

656.79p

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

653.52p

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