Net Asset Value(s)

The Baillie Gifford Japan Trust PLC (BGFD)

9 November 2021

Legal Entity Identifier : 54930037AGTKN765Y741

Cum Par NAV

1037.78p

Cum Fair NAV

1035.84p

Ex Par NAV

1027.29p

Ex Fair NAV

1025.34p

The fair value of long term borrowings is calculated weekly, using methodologies consistent with the International Private Equity and Venture Capital Valuation (IPEV) Guidelines.

Net Asset Values are unaudited, and calculated in accordance with published accounting policies and AIC guidelines.

Cum Par NAV: Net asset value per share in pence, including income, with debt at par value.

Cum Fair NAV: Net asset value per share in pence, including income, with debt at fair value.

Ex Par NAV: Net asset value per share in pence, excluding income, with debt at par value.

Ex Fair NAV: Net asset value per share in pence, excluding income, with debt at fair value.