The Baillie Gifford Japan Trust PLC

Legal Entity Identifier : 54930037AGTKN765Y741

Owing to demand in the market, the Company announces the allotment of 150,000 new Ordinary Shares of 5p each fully paid on 6 November 2017. Following the allotment there are 85,779,925 Ordinary Shares in issue. These shares were issued for cash on 6 November 2017 at a price of 805.5p per share and at a premium to the prevailing net asset value.

Baillie Gifford & Co Limited

Company Secretaries

6 November 2017

Regulated Information Classification: Acquisition or disposal of the issuer's own shares