Scottish Mortgage Investment Trust PLC

17 August 2017

Legal Entity Identifier : 213800G37DCS3Q9IJM38

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

418.52p

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

414.49p

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

417.59p

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

413.56p

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