Portfolio Management Change

Fidelity Japan Trust PLC

Portfolio Management Change

The Board of Fidelity Japan Trust PLC (the Company) has recently been notified that the Portfolio Manager, Nicholas Price, plans to retire at the end of the year after a 30 year career with Fidelity in Japan. His Assistant Portfolio Manager, Ying Lu, will become the Company's Portfolio Manager with effect from 1 October 2025. Nicholas will continue to work with Ying until the end of the year. Ying has been working closely with Nicholas for the past three years and so we do not expect any change in the approach to the investment management of the Company.

The Board would like to take this opportunity to thank Nicholas for his excellent service and management of the Company's portfolio since 2015.

For further information please contact:

Fidelity Japan Trust PLC

David Graham   Contact via Stifel

Chairman

Stifel, Corporate Broker

Edward Gibson-Watt

Tel: +44(0) 20 7663 3227

E-mail: [email protected]|

Fidelity

Claire Dwyer

Head of Investment Companies

[email protected]