Dividend Declaration

LONDON STOCK EXCHANGE ANNOUNCEMENT

THE MERCANTILE INVESTMENT TRUST PLC

FOURTH QUARTERLY DIVIDEND

Legal Entity Identifier: 549300BGX3CJIHLP2H42

Information disclosed in accordance with DTR 6.1.13

The Directors have declared that a fourth quarterly interim dividend of 2.55 pence per share will be paid on 15th May 2020 to shareholders on the register as at the close of business on 14th April 2020. The ex-dividend date will be 9th April 2020. This brings the total dividend for the financial year ended 31st January 2020 to 6.60 pence, a 4.8% increase on last year's total dividend of 6.30 pence per share.

27th March 2020

JPMorgan Funds Limited

Company Secretary

For further information, please contact:

Jonathan Latter

JPMorgan Funds Limited, 020 7742 4000