Replacement Holding(s) in Company

For filings with the FSA include the annex

For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Polar Cap Technology Trust Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Company has asked us to report although we would not normally report for this cross

P

3. Full name of person(s) subject to thenotification obligation: iii

RATHBONE BROTHERS PLC

4. Full name of shareholder(s) (if different from 3.):iv

RATHBONE BROTHERS PLC

Rathbone Investment Management Limited

Rathbone Investment Management International Limited

Rathbone Unit Trust Management

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

22nd April 2016

6. Date on which issuer notified:

17th May 2016

7. Threshold(s) that is/are crossed orreached: vi, vii

8%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

25p Ordinary

10,549,150

10,549,150

10,653,445

N/A

10,653,445

8.05%

GB0004220025

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

10,653,645

8.05%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

RATHBONE BROTHERS PLC*

Rathbone Investment Management Limited 7.69%

Rathbone Investment Management International Limited 0.12%

Rathbone Unit Trust Management 0.24%

* Rathbone Brothers Plc is the holding company of the following.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

Total shares in Issued used a denominator is

132,336,159

14. Contact name:

COMPLIANCE DEPARTMENT

15. Contact telephone number:

020 7399 0000