Update on the future of the Company

Jupiter UK Growth Investment Trust PLC (the "Company")

Legal Entity Identifier: 549300QSBKGE8ZO08A97

Update on the future of the Company

In the Interim Statement released in March the Board noted that notwithstanding its intention to appoint a new investment manager it "would keep the management arrangements under review over the coming months while the economic and market backdrop evolves and to remain cognisant of the reduced market capitalisation". The Board notes that while the stock market has recovered some of its losses incurred in February and March at the height of the pandemic sell-off, the economic outlook remains uncertain.

The market capitalisation of the Company remains very low and is currently approximately £26m which falls well below the minimum size generally considered investable by wealth managers and other prospective investors. The Company is now materially smaller than it was when the decision to appoint Richard Buxton as the new investment manager was announced in February.

Having discussed this issue with its advisors, Numis, the Board has come to the conclusion that it is no longer likely to be able to grow the trust in its present form by attracting significant new investors. Jupiter have been advised of this opinion, which they have accepted. The Board has therefore been considering the options for the future of the Company and its shareholders.

The Board currently believes that the best option is to liquidate the Company so that shareholders will have the option to receive cash or, if possible, the ability to roll over their investment into another investment vehicle. Your Board is discussing these options with its advisors and establishing the interest of investment managers in offering rollover options. Any suggestions that shareholders may have regarding the future of the Company would also be welcome.

The Board expects to be in a position to update shareholders shortly but in any event no later than at the Annual General Meeting in November.

For further information, please contact:

Jupiter Asset Management Limited

Magnus Spence, Head of Investment Trusts and Alternatives

[email protected]

Tel. 020 3817 1000

Numis Securities Limited

David Benda / Matthew Goss, Investment Banking

[email protected]

Tel. 020 7260 1000

28 September 2020