Edinburgh Worldwide Investment Trust Regulatory News (EWI)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED (UK MAR). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

For immediate release.

Edinburgh Worldwide Investment Trust plc

Legal Entity Identifier: 213800JUA8RKIDDLH380

30 April 2026

AGM Update and Expected Voting Outcome

The Board of Edinburgh Worldwide Investment Trust plc (the "Company" or "EWIT") will hold its Annual General Meeting ("AGM") today at 12.00 noon at the offices of Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN.

The final results of the voting on all resolutions proposed at the AGM will be announced via the Regulatory News Service later today, following verification by an independent assessor.

Based on the latest voting information it is expected that there will be insufficient votes in favour of the resolutions relating to the re-appointment of the five independent directors standing for re-election. Mungo Wilson did not stand for re-election, as his nine-year tenure has concluded. It is also expected that the resolutions to appoint Saba Capital Management L.P.'s ("Saba") three nominees to the Board will be approved by the requisite majority.

Accordingly, subject to confirmation of these results later today, Jonathan Simpson-Dent, Mary Gunn, Jane McCracken, Caroline Roxburgh, Gregory Eckersley and Mungo Wilson will cease to be directors of the Company with effect from the end of the AGM. At the same time, subject to confirmation of the results, Gabriel Gliksberg, Jassen Trenkow and Michael Joseph will be appointed as directors of the Company.

This outcome primarily reflects a material reduction in ownership by private wealth and retail shareholders facing the reality of Saba's likely effective control of the Company. Notably, the recent selling from these groups has largely come from previously engaged shareholders who had historically voted in support of the Board. As a result, voting in favour of the Board from private wealth and retail holders has declined since Saba's previous requisitions both in absolute terms and as a proportion of their remaining shareholdings.

In addition, a further US investment fund with a material holding has voted against the Board. This brings the number of US investment fund shareholders not supporting the Board to four, including Saba, collectively representing more than 40% of the Company's issued share capital.

Jonathan Simpson-Dent, Chair of Edinburgh Worldwide, commented:

"This is a disappointing day for our long-standing shareholders who are set to lose exposure to this exciting mandate focused on next-generation technology, seemingly in favour of Saba's plan to invest in other UK investment trusts.

Retail and private wealth shareholders have been ground down by Saba's repeated attacks. A significant number have already chosen to exit the Company, replaced by institutions seeking to capture the upside potential in EWIT's substantial SpaceX exposure. I expect many more retail and private wealth shareholders to follow. This should represent a wake-up call for the investment trust sector and its regulators.

Throughout the period since the implementation of our path to growth strategy 18 months ago, the Board has maintained its focus on governance and performance, delivering strong NAV returns of 44% and a 21% outperformance relative to its benchmark(1).

I would like to thank shareholders for their engagement and support, as well as my fellow Board members and the many other stakeholders, including the media, who have worked to highlight the risks associated with Saba's proposals and to encourage retail shareholder participation."

For further information please contact:

Investors:

Deutsche Numis

Nathan Brown

Tel: +44 20 7547 0569

nathan.brown@dbnumis.com

Matt Goss

Tel: +44 20 7547 0541

matt.goss@dbnumis.com

Media:

Greenbrook Advisory

Peter Hewer / Rob White

+44 207 952 2000

ewit@greenbrookadvisory.com 

Company Secretary:

Baillie Gifford & Co Limited

crtallenquiries@bailliegifford.com

Tel 0131 275 2000

Important information

This announcement is released by the Company and the information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of UK MAR. Upon publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain. The person responsible for arranging the release of this announcement on behalf of the Company is Baillie Gifford & Co Limited, the company secretary.

(1) NAV total return for EWIT for the period 31 October 2024 to 27 April 2026 (Source: Refinitiv Workspace).