LOWLAND INVESTMENT COMPANY PLC

2138008RHG5363FEHV19

As at close of business on 12 December 2017, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 1621.4p and the net asset value per share with debt marked at fair value was 1616.5p.

As at close of business on 12 December 2017, the unaudited net asset value per share (excluding current financial year revenue items) was 1600.2p and the net asset value per share with debt marked at fair value was 1595.3p.

Wendy King

Janus Henderson Investors

Telephone: 020 7818 4233