Lowland Inv. Regulatory News (LWI)

JANUS HENDERSON FUND MANAGEMENT UK LIMITED

LOWLAND INVESTMENT COMPANY PLC

LGAL ENTITY IDENTIFIER: 2138008RHG5363FEHV19

13 August 2025

LOWLAND INVESTMENT COMPANY PLC (the "Company")

Publication of a Circular

At the Company's Annual General Meeting held on 28 January 2025 (the "2025 AGM"), a special resolution was passed by the Company's shareholders (the "Shareholders") granting the Directors authority to buy back a total of 38,583,065 ordinary shares of 2.5 pence each in the capital of the Company (the "Shares") representing 14.99% of the then issued share capital (excluding Shares held in treasury). As at 11 August 2025, the Company has bought back 37,419,766 Shares. The recent high levels of buybacks means that the Company's existing authority to buy back Shares is likely to be exhausted in advance of the authority being refreshed at the Company's next annual general meeting, which is expected to be held in January 2026. The Directors are therefore seeking approval for a renewal of this authority (the "Proposal").

The Directors' use of Share buybacks is limited to circumstances where Shares are trading at a discount to their net asset value and where, in their opinion, doing so is in the best interests of Shareholders as a whole and would offer sufficient value to Shareholders. Any Shares bought back will be cancelled or held in treasury. If granted, the Company may use the authority to purchase Shares by either a single purchase or a series of purchases when market conditions allow, with the aim of maximising the benefit to Shareholders.

The Company has today published a circular (the "Circular") setting out further details of the Proposal. The Circular also includes the notice of meeting to convene a general meeting (the "General Meeting") at which the appropriate Shareholder authority will be sought. The General Meeting will be held at 2.00 p.m. on 10 September 2025 at 201 Bishopsgate, London, EC2M 3AE. A copy of the Circular is being posted to Shareholders.

Terms used and not defined in this announcement shall have the meanings given to them in the Circular.

A copy of the Circular has been submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.*

The Circular is also available on the Company's website, www.lowlandinvestment.com.*

* Neither the NSM website nor the Company's website nor the content of any website accessible from hyperlinks on those websites (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.

For further information, please contact:

James Henderson and Laura Foll

Fund Managers

Lowland Investment Company plc

Tel: 020 7818 4370/6364

Dan Howe

Head of Investment Trusts

Janus Henderson Investors

Tel: 020 7818 1818

Harriet Hall

PR Director, Investment Trusts

Janus Henderson Investors

Telephone: 020 7818 2919