The Baillie Gifford Japan Trust PLC

1 September 2017

Legal Entity Identifier : 54930037AGTKN765Y741

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

682.33p

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

678.96p

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

679.62p

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

676.25p

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