The Baillie Gifford Japan Trust PLC

6 December 2017

Legal Entity Identifier : 54930037AGTKN765Y741

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

747.62p

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

743.60p

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

746.04p

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

742.03p

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