NAV update and adjustment to valuation of SpaceX

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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. This has been reflected in the Net Asset Value of the Company which as at close of business on 31 March 2026 stands at 1316.12p .

Following that adjustment in valuation the proportion of the Company's total assets made up by SpaceX stands at 19.3% at close of business on 31 March 2026, compared with 15.4% on 28 February 2026.

Baillie Gifford & Co Limited

1 April 2026

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