Transaction in Own Shares

THE MERCHANTS TRUST PLC

LEI: 5299008VJFXCUD2EG312

27 October 2025

TRANSACTIONS IN OWN SHARES

The Merchants Trust PLC announces that it today purchased shares, to be held in treasury.

Number of ordinary shares purchased:

45,647

Average share price paid per share (p):

570.11

Lowest share price paid per share (p):

569.00

Highest share price paid per share (p):

571.00

Following this transaction the company has:

Ordinary shares in issue (including treasury shares) :

148,424,887

Ordinary shares held in treasury, which attract no voting rights:

669,805

Outstanding number of ordinary shares (excluding treasury shares) :

147,755,082

Total number of voting rights in the Company*:

148,933,082

* Total number of voting rights is the sum of the outstanding number of ordinary shares and the 3.65% cumulative preference stock (1,178,000 shares).

The above total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

Nira Mistry

Company Secretary

Tel: 07554 224 339