Transaction in Own Shares

THE INDEPENDENT INVESTMENT TRUST PLC

Legal Entity Identifier: 213800IYHGJTZJ3MO642

Transaction in Own Shares

On 8 December 2021 The Independent Investment Trust PLC bought back 50,000 shares at 558.00p each.

Following the purchase and cancellation of the above shares, 52,723,681 ordinary shares of 25p each will remain in issue. The Independent Investment Trust PLC holds no ordinary shares in Treasury.

The above figure 52,723,681 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, The Independent Investment Trust PLC under the FCA's Disclosure and Transparency Rules.

Baillie Gifford & Co

Company Secretaries

8 December 2021

Regulated Information Classification: Acquisition or disposal of the issuer's own shares