Herald Regulatory News (HRI)

HERALD INVESTMENT TRUST PLC

STATISTICS AND PERFORMANCE REPORT

At inception

At

Performance since

Performance

Performance

16 February

30 September

28 August

YTD (%)

since inception

1994

2020

2020 (%)

(%)

NAV (p) excl accrued income

98.7

p*

1960.6

p

-0.0%

+17.5%

+1886.4%

NAV (p) incl accrued income

98.7

p*

1955.8

p

-0.0%

+17.3%

+2035.6%

**

Numis SC + AIM(capital gains ex I.T.)

1750.0

4984.8

-1.2%

-14.7%

+184.8%

Russell 2000 Technology Index (capital gains in Sterling terms)

673.8

***

3541.7

-1.9%

+5.4%

+425.6%

Share price

90.9

p****

1634.0

p

-1.1%

+10.4%

+1697.6%

Premium/(Discount) to NAV (excl accrued income)/share as at 30 September 2020

(16.7)%

UK Equity Portfolio as a % of Net Asset Value at 30 September 2020*****

48.1%

Overseas Equity Portfolio as a % of Net Asset Value at 30 September 2020

41.9%

(Gearing)/Cash as a % of Net Asset Value at 30 September 2020******

10.0%

Number of Equity Holdings at 30 September 2020

314

*100p was the subscription price before launch costs of 1.3p

** Total return (in percentage terms) on 98.7p invested at inception excluding warrants.

***Value shown is from 31/03/1996 the date the funds were globalised.

****90.9p is CGT base subscription price for shareholders adjusting for warrants which were issued on a 1 for 5 basis.

*****Includes 7 convertible bonds.

****** Gearing is total assets (including all debt used for investment purposes) divided by shareholders' funds.

These figures are not audited

At 30 September 2020 the Net Asset Value including current year income was £1,296.1m (£1,299.3m excluding current year income). Income is shown net of expenses.

There are 66,270,444 shares currently in issue.

This Report has been issued on behalf of Herald Investment Trust plc, and has been approved by Herald Investment Management Limited, its investment manager. Herald Investment Management Limited is authorised and regulated by the Financial Conduct Authority. You should remember that past performance is not necessarily a guide to future performance. Markets and currency movements may cause the value of shares, and the income from them, to fall as well as rise, and you may get back less than you invested when you decide to sell your shares.