The Baillie Gifford Japan Trust PLC

Legal Entity Identifier : 54930037AGTKN765Y741

Owing to demand in the market, the Company announces the allotment of 125,000 new Ordinary Shares of 5p each fully paid on 14 November 2017. Following the allotment there are 86,104,925 Ordinary Shares in issue. These shares were issued for cash on 14 November 2017 at a price of 812.5p per share and at a premium to the prevailing net asset value.

Baillie Gifford & Co Limited

Company Secretaries

14 November 2017

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