Baillie Gifford Regulatory News (BGUK)

Baillie Gifford UK Growth Trust plc (BGUK)

Legal Entity Identifier: 549300XX386SYWX8XW22

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Updated Buyback Policy

In June, following an extensive consultation with shareholders, the Board of Baillie Gifford UK Growth Trust plc ("BGUK" or the "Company") announced its intention to: introduce a one-off 100% performance conditional tender offer (triggered if the Company's NAV per share total return over the 5-year period from 30 April 2024 to 30 April 2029 does not equal or exceed the total return on the FTSE All-Share Index); and hold an additional continuation vote in 2027 outside the normal 5-year continuation vote cycle. These measures were adopted following the passing of the continuation vote at the Company's AGM on 4 September 2024, where 93.49% of votes cast were in favour of a continuation.

Investment performance recovered in 2024, and the Company's net asset value total return from 30 April 2024 to 31 December 2024 was 10.0% well ahead of the FTSE All Share Index total return of 3.2% over the same period. That said, the Board recognises that the Company, despite being more active in buying back shares since the AGM, with a total of 6.7 million shares (£11.9 million) repurchased, continues to witness a share price discount which is wider than desired and so today announces an important measure to seek to address this. With effect from today, the Board has determined to use buybacks with the aim of maintaining a single digit discount to the Company's NAV per share, in normal market conditions.

Baillie Gifford & Co Limited

Managers and Secretaries

28 January 2025

Enquiries/Contact

Baillie Gifford UK Growth Trust plc

Neil Rogan, Chair

Contact via company secretary

Winterflood Securities Limited

Darren Willis

Neil Morgan

+44(0) 20 3100 0000

Baillie Gifford & Co Limited

Company secretary

+44 (0) 800 917 2113

Regulated Information Classification: Additional regulated information required to be disclosed under relevant laws.