LOWLAND INVESTMENT COMPANY PLC

2138008RHG5363FEHV19

As at close of business on 14 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 177.3p and the net asset value per share with debt marked at fair value was 179.8p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.

As at close of business on 14 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 176.2p and the net asset value per share with debt marked at fair value was 178.7p.

Debt marked at fair value is the Company's estimate of the "fair value" of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.

Janus Henderson Secretarial Services UK Limited

Corporate Secretary

Telephone: 020 7818 1818

THE NORTH AMERICAN INCOME TRUST PLC

5493007GCUW7G2BKY360

As at close of business on 14 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 400.4p and the net asset value per share with debt marked at fair value was 402.5p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.

As at close of business on 14 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 396.7p and the net asset value per share with debt marked at fair value was 398.8p.

Debt marked at fair value is the Company's estimate of the "fair value" of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant US Treasury. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.

Janus Henderson Secretarial Services UK Limited

Corporate Secretary

Telephone: 020 7818 1818

THE BANKERS INVESTMENT TRUST PLC

213800B9YWXL3X1VMZ69

As at close of business on 14 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 143.5p and the net asset value per share with debt marked at fair value was 146.9p.

As at close of business on 14 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 142.8p and the net asset value per share with debt marked at fair value was 146.3p.

The current estimated fair value of the Company's GBP denominated unsecured loan notes is based on a discount rate calculated using the yield of a UK Gilt of a similar maturity plus a credit spread. The current estimated fair value of the Company's Euro denominated unsecured loan notes is based on a discount rate calculated using the yield of a Euro Swap of similar maturity plus a credit spread.

Janus Henderson Secretarial Services UK Limited

Corporate Secretary

Telephone: 020 7818 1818

HENDERSON HIGH INCOME TRUST PLC

213800OEXAGFSF7Y6G11

As at close of business on 14 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 201.5p and the net asset value per share with debt marked at fair value was 202.4p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.

As at close of business on 14 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 201.0p and the net asset value per share with debt marked at fair value was 201.9p.

Debt marked at fair value is the Company's estimate of the "fair value" of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread determined by the month-end difference in redemption yields between the ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the ICE BofAML 5-10 Year UK Gilt Index. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.

Janus Henderson Secretarial Services UK Limited

Corporate Secretary

Telephone: 020 7818 1818

THE CITY OF LONDON INVESTMENT TRUST PLC

213800F3NOTF47H6AO55

As at close of business on 14 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 527.8p and the net asset value per share with debt marked at fair value was 533.1p.

As at close of business on 14 January 2026, the unaudited net asset value per share (excluding current financial year revenue items) was 524.2p and the net asset value per share with debt marked at fair value was 529.5p.

Debt marked at fair value is the Company's estimate of the "fair value" of its senior secured notes. The current estimated fair value of the Company's senior secured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread determined by the month-end difference in redemption yields between the  ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the ICE BofAML 5-10 Year UK Gilt Index for the 4.53% senior secured 2029 notes, and the spread between the redemption yield of the ICE BofAML 15+ Year A Sterling Non-Gilt Index and the ICE BofAML 15+ Year UK Gilt Index for the 2.67% senior secured 2046 notes and the 2.94% senior secured 2049 notes. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs. In addition, evidence of issues in the private placement market may be taken into consideration where spreads significantly diverge from those in the public market.

Janus Henderson Secretarial Services UK Limited

Corporate Secretary

Telephone: 020 7818 1818

THE EUROPEAN SMALLER COMPANIES TRUST PLC

213800N1B1HCQG2W4V90

Janus Henderson Secretarial Services UK Limited

Corporate Secretary

Telephone: 020 7818 1818