Update on NAV and SpaceX Valuation

This announcement contains inside information for the purposes of Article 7 of the UK Market Abuse Regulation. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Scottish Mortgage Investment Trust PLC (SMT)

("The Company")

Legal Entity Identifier: 213800G37DCS3Q9IJM38

Update on Net Asset Value and adjustment to the valuation of Space Exploration Technologies Corporation ('SpaceX')

Today, the Board has been advised by the Manager of an upwards adjustment in the valuation of the Company's holding in SpaceX in line with its policy for valuing private company investments and the confirmation from SpaceX of the initial public offering price. This has been reflected in the Net Asset Value of the Company which as at close of business on 3 June 2026 stands at 1493.98p.

Following that adjustment in valuation the proportion of the Company's total assets made up by SpaceX stands at 21.0% at close of business on 3 June 2026, compared with 17.9% on 30 April 2026.

Baillie Gifford & Co Limited

4 June 2026

Regulated Information Classification: Additional regulated information required to be disclosed under applicable laws and regulations.