Share buyback authority

WITAN INVESTMENT TRUST PLC

Share Buyback Authority

1 February 2024

Witan Investment Trust plc ("the Company") announces that pursuant to its ongoing share buyback programme and in order to remove the administrative burden of overseeing share buybacks on a day-to-day basis from the Company's management team, it has entered into an irrevocable non-discretionary agreement with J.P. Morgan Securities plc ("JPMS plc") pursuant to which JPMS plc will acquire ordinary shares in the Company, within certain pre-set parameters, for subsequent sale on to and purchase by the Company. Shares bought back are held in treasury and will be re-sold only at, or at a premium to, the prevailing net asset value at the time of issue.

JPMS plc will make its trading decisions in relation to the ordinary shares independently of, and uninfluenced by, the Company. The agreement will terminate at the Company's next annual general meeting (scheduled to be held on 1 May 2024), after which it may be renewed. Purchases will be made within the authorities granted by shareholders at the Company's annual general meeting held on 4 May 2023 at which shareholders approved that the Company be authorised to make market purchases of its own ordinary shares up to a maximum of 99,028,329 ordinary shares, being 14.99% of the ordinary shares then in issue. Since the Company's annual general meeting on 4 May 2023 the Company has repurchased 38,807,896 ordinary shares, leaving an authorised share buyback balance of up to 60,220,433 ordinary shares as at 31 January 2024.

This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares. No maximum pecuniary amount has been allocated to the Programme by the Company but repurchases will be conducted in accordance with the Company's established practice, the Listing Rules and applicable regulation.

As in recent years, the buyback will continue to be undertaken in order to provide liquidity in the market, while being accretive to the net asset value and helping to moderate discount volatility.

-ENDS-

For further information please contact:

Andrew Bell, Chief Executive Officer

Witan Investment Trust plc

Tel: 020 7227 9770

Andrew.Bell@witan.co.uk

James Hart, Investment Director

Witan Investment Trust plc

Tel: 020 7227 9770

James.Hart@witan.co.uk