The Baillie Gifford Japan Trust PLC

Legal Entity Identifier : 54930037AGTKN765Y741

Owing to demand in the market, the Company announces the allotment of 175,000 new Ordinary Shares of 5p each fully paid on 1 December 2017. Following the allotment there are 86,929,925 Ordinary Shares in issue. These shares were issued for cash on 1 December 2017 at a price of 833.25p per share and at a premium to the prevailing net asset value.

Baillie Gifford & Co Limited

Company Secretaries

1 December 2017

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