Title: PowerPoint Presentation URL Source: https://documentscdn.financialexpress.net/Literature/B032E1CC1D5ED641DB0F0E1CD6AF4943/241626723.pdf Number of Pages: 6 Markdown Content: BlackRock Greater Europe # Investment Trust plc # March 2026 # Company objective To achieve capital growth, primarily through investment in a focused portfolio constructed from a combination of the securities of large, mid and small capitalisation European companies, together with some investment in the developing markets of Europe. # Key Risk Factors Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested. Overseas investments will be affected by currency exchange rate fluctuations. The Company’s investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. The Company invests in economies and markets which may be less developed. Compared to more established economies, the value of investments may be subject to greater volatility due to increased uncertainty as to how these markets operate. The Company may from time to time utilise gearing. A fuller definition of gearing is given in the glossary. The latest performance data can be found on the BlackRock Investment Management (UK) Limited website at: blackrock.com/ uk /brge See glossary for further explanation of terms used. # blackrock.com/ uk /brge Fund information (as at 31/03/2026) Net asset value (capital only): 588.40p Net asset value (including income): 563.08p Share price: 526.00p Discount to NAV (including income): 6.6% Net gearing: 3.1% Net yield: 1 1.4% Total assets (including income): £517.5m Ordinary shares in issue: 2 91,913,141 Ongoing charges: 3 0.95% The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy. Kepler rated fund in the Growth Category. Effective date: 1 January 2024. The information contained in this release was correct as at 31 March 2026. Information on the Company’s up to date net asset values can be found on the London Stock Exchange website at: https://www.londonstockexchange.com/exchange/news/market -news/market - newshome.html Awards Past performance is not a reliable indicator of current or future results . > 1 Based on an interim dividend of 1.75p per share and a final dividend of 5.40p per share for the year ended 31 August 2025 . > 2 Excluding 26,015,797 shares held in treasury. > 3 The Company’s ongoing charges are calculated as a percentage of average daily net assets and using the management fee and all other operating expenses excluding finance costs, direct transaction costs, custody transaction charges, VAT recovered, taxation, write back of prior year expenses and certain non -recurring items for the year ended 31 August 2025. With effect from 1 September 2025, the Company’s annual management fee was reduced from 0.85% per annum of net asset value on net assets up to £350 million and 0.75% per annum of net asset value above £350 million to 0.65% of net assets up to and including £400 million, 0.60% of net assets in excess of £400 million up to and including £1 billion and 0.525% of net assets in excess of £1 billion. This will result in lower ongoing charges for the Company, estimated at 0.775% (based on average net assets for the year ended 31 August 2025). > RET0526-5441784-EXP0527-1/6 ## Annual performance to the last quarter end (as at 31 March 2026) > 1 The Company’s reference index is the FTSE World Europe ex UK Index. Performance statistics sources: BlackRock and Datastream The latest performance data can be found on our website: www.blackrock.com/uk/brge ## Cumulative performance (as at 31/03/26) The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy. > 1 The Company’s reference index is the FTSE World Europe ex UK Index. The above Net Asset Value (NAV) performance statistics are based on a NAV including income, with any dividends reinvested on the ex -dividend date, net of ongoing charges and any applicable performance fee. A fuller definition of ongoing charges (which includes the annual management fee) is given in the glossary. Details of the management fee are given in the key company details section overleaf. The Company does not have a performance fee. Share price performance figures are calculated on a mid -market basis in sterling terms with income reinvested on the ex - dividend date. The performance of the Company’s portfolio, or NAV performance, is not the same as share price performance and shareholders may not realise returns which are the same as NAV performance. Sterling 31/03 /25 31/03 /26 % 31/03 /24 31/03 /25 % 31 /03 /23 31/03 /24 % 31/03 /22 31/03 /23 % 31/03 /21 31/03 /22 % Net asset value -1.0 -13.5 20.3 4.0 3.6 Share price -1.0 -14.6 21.5 -2.9 4.7 Reference Index 1 16.5 3.8 13.8 8.7 6.5 Sterling 1M% 3M% 1Y% 3Y% Launch % (20 Sept 04) Net asset value – undiluted -11.4 -8.1 -1.0 3.0 700.6 Share price -13.1 -9.5 -1.0 2.7 658.3 Reference Index 1 -8.7 -2.0 16.5 37.6 566.1 Company Country of risk Fund % ASML Netherlands 6.4 Schneider Electric France 4.7 Compagnie Financiere Richemont Switzerland 4.6 BE Semiconductor Netherlands 4.5 Safran France 4.5 Allied Irish Banks (AIB) Ireland 4.0 Lonza Group Switzerland 4.0 Kone Finland 3.9 KBC Groep Belgium 3.7 MTU Aero Engines Germany 3.7 Holdings are as at the date shown and do not necessarily represent current or future portfolio holdings. Risk : The specific companies identified and described left do not represent all of the companies purchased or sold, and no assumptions should be made that the companies identified and discussed were or will be profitable. Reference to the names of each company mentioned in this communication is merely for explaining the investment strategy, and should not be construed as investment advice or investment recommendation of those companies. A full disclosure of portfolio investments for the Company as at 31 December 2025 has been made available on the Company’s website at the link given below: https://www.blackrock.com/uk/individual/literature/policies/blackrock - greater -europe -invst -trust -portfolio -disclosure.pdf ## Ten largest investments (as at 31/03/26) > RET0526-5441784-EXP0527-2/6 Comments from the Portfolio Managers Please note that the commentary below includes historic information in respect of performance data in respect of portfolio investments, index performance data and the Company’s NAV performance. The figures shown relate to past performance. Past performance is not a reliable indicator of current or future results. During the month, the Company’s NAV fell by -11 .4% and the share price fell by -13 .1%. For reference, the FTSE World Europe ex UK market returned -8.7% during the period . European markets were driven primarily by geopolitical developments in March, with the escalation of conflict involving Iran dominating sentiment . Energy markets reacted sharply to increased supply disruption risk, with oil prices rising significantly and Energy the only sector to deliver positive returns . The resulting increase in energy prices reignited inflation concerns and introduced volatility across European equities . Higher oil prices raised fears of a slowdown in economic activity, as potential for elevated input costs weigh on both consumers and corporates . This created a challenging backdrop for cyclically exposed sectors, while more defensive areas of the market fared better . In this environment, market movements were largely driven by macro developments rather than company -specific fundamentals . While the underlying backdrop for companies had been supportive prior to the escalation, the shift to a more risk -off environment led to broad -based de - risking across equities . The situation remains highly uncertain, with market conditions likely to evolve quickly depending on the trajectory of the conflict and any potential escalation or resolution . Sector allocation effects were negative in March with sector and industry level impacts aligned with the macro fears of the war in Iran . Primary drags on relative returns came from an underweight position to Energy, as oil and gas prices rose on the effective closure of the strait of Hormuz, and overweight to industrials such as aerospace which are heavily reliant on energy as an input cost . These were partially offset by being underweight consumer staples where worries of inflation put further pressure on an already depressed sector . With the market heavily focused on the uncertainty caused by the war in Iran, there were limited stock specifics driving share prices in March . Not holding TotalEnergies was negative for relative returns as the Iran war escalated into an effective closure of the strait of Hormuz, causing higher energy prices on restricted supply . Positions in Civil Aerospace holdings – Safran, MTU – detracted from performance on worries an extended conflict in the Middle East may disrupt the ongoing recovery in air travel and impact demand for the aftermarket services of these businesses . Several industrial cyclicals, including Belimo and Schnieder Electric, detracted with shares down on the market’s rotation towards energy and defensives . AIB was the top contributor over the month . Shares were up following H2’25 results that showed NII and Fee based revenues ahead of consensus expectations while costs were also better, resulting in a 5% beat on profit before tax (PBT) . Their 2026 guide – which was given on conservative assumptions – implied a 3% upgrade to PBT . Holdings in defence companies Kongsberg and Thales was positive for relative returns as the war in Iran has drawn a focus to the importance of their products such as air defence systems and radars for customers in the Middle East . Outlook From here, we remain observant of buying opportunities presented by a volatile market backdrop . In these environments of rising dispersion, we find there is often opportunity for alpha and we’re using the full scale of a leading team to identify change . The portfolio remains cyclically tilted with key exposures across areas we believe remain well underpinned over the mid to long term such as defence, select industrials, civil aerospace, banks and semiconductor cycle exposure . Europe remains home to many world -class franchises, companies owning core technologies that make them the enablers of some of the large transformational changes going on around us . We aim to align shareholder capital to those businesses that are exposed to large and enduring spending streams . Overall, we retain our core exposure to companies with predictable business models, higher than average returns on capital, strong cash flow conversions and opportunities to reinvest that cash flow into future growth projects at high incremental returns . Unless otherwise stated all data is sourced from BlackRock as at 31 March 2026 . Past performance is not a reliable indicator of current or future results . There is no guarantee that any forecasts made will come to pass . Risk : Reference to the names of each company in this communication is merely for explaining the investment strategy, and should not be construed as investment advice or investment recommendation of those companies . > RET0526-5441784-EXP0527-3/6 NMPI status The Company currently conducts its affairs so that its securities can be recommended by Independent Financial Advisers to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to Non -Mainstream Pooled Investments (NMPI) and intends to continue to do so for the foreseeable future. The securities are excluded from the FCA’s restrictions which apply to non -mainstream pooled investments because they are shares in an investment trust. ## Key company details Fund characteristics: Launch date 20 September 2004 Dealing currency Sterling Association of Investment Companies sector (AIC) Europe Reference index FTSE World Europe ex UK Traded London Stock Exchange Management Alternative Investment Fund Manager (with effect from 2 July 2014) BlackRock Fund Managers Limited Portfolio managers Benjamin Moore and Brian Hall Annual management fee * 0.65% of net asset value up to and including £400 million, 0.60% in excess of £400 million up to and including £1 billion, then 0.525% thereafter * Included in the ongoing charges ratio Country allocations (as at 31/03/26) % of total assets France 25.0 Netherlands 15.9 Switzerland 12.8 Ireland 7.0 Germany 6.1 Spain 5.6 Sweden 4.3 Finland 3.8 Belgium 3.6 United Kingdom 2.9 Italy 2.7 Norway 2.7 United States 2.3 Austria 2.1 Denmark 1.6 Net Current Assets 1.6 Total 100.0 Sector allocations (as at 31/03/2026) % of total assets Industrials 38.7 Financials 18.3 Technology 16.3 Consumer Discretionary 13.0 Health Care 6.2 Utilities 3.6 Basic Materials 2.3 Net Current Assets 1.6 Total 100.0 Allocations are as of date shown and do not necessarily represent current or future portfolio holdings. Fund codes ISIN GB00B01RDH75 Sedol B01RDH7 Bloomberg BRGE:LN Reuters BRGE:L Ticker BRGE/LON Financial calendar Year end 31 August Results announced April (half yearly) November (final) Annual General Meeting December Dividends paid December (final) May (interim) > RET0526-5441784-EXP0527-4/6 ## Glossary Of Terms Discount/Premium Investment trust shares frequently trade at a discount or premium to NAV. This occurs when the share price is less than (a discount) or more than (a premium) to the NAV. The discount or premium is the difference between the share price (based on mid -market share prices) and the NAV, expressed as a percentage of the NAV. Discounts and premiums are mainly the consequence of supply and demand for the shares on the stock market. Gearing Investment companies can borrow to purchase additional investments. This is called ‘gearing’. It allows investment companies to take advantage of a long -term view on a sector or to take advantage of a favourable situation or a particularly attractive stock without having to sell existing investments. Gearing works by magnifying the company’s performance. If a company ‘gears up’ and then markets rise and the returns on the investments outstrip the costs of borrowing, the overall returns to investors will be even greater. But if markets fall and the performance of the assets in the portfolio is poor, then losses suffered by the investor will also be magnified. Treasury shares Treasury shares are shares that a company keeps in its own treasury which are not currently issued to the public. These shares do not pay dividends, have no voting rights and are not included in a Company’s total issued share capital amount for the purpose of calculating percentage ownership. Treasury stock may have come from a repurchase or buyback from shareholders, or it may have never been issued to the public in the first place. Treasury shares may be reissued from treasury to the public to meet demand for a company’s shares in certain circumstances. Net yield The net yield is calculated using total dividends declared in the last 12 months (as at date of this factsheet) as a percentage of month end share price. NAV (Net Asset Value) A company’s undiluted NAV is its available shareholders’ funds divided by the number of shares in issue (excluding treasury shares), before making any adjustment for any potentially dilutive securities which the Company may have in issue, such as subscription shares, convertible bonds or treasury shares. A diluted NAV is calculated on the assumption that holders of any convertibles have converted, subscription shares have been exercised and treasury shares are re -issued at the mid -market price, to the extent that the NAV per share is higher than the price of each of these shares or securities and that they are 'in the money'. The aim is to ensure that shareholders have a full understanding of the potential impact on the Company’s NAV if these instruments had been exercised on a particular date. Ongoing charges ratio Ongoing charges (%) = Annualised ongoing charges Average undiluted net asset value in the period Ongoing charges are those expenses of a type which are likely to recur in the foreseeable future, whether charged to capital or revenue, and which relate to the operation of the investment company as a collective fund, excluding the costs of acquisition/disposal of investments, financing charges and gains/losses arising on investments. Ongoing charges are based on costs incurred in the year as being the best estimate of future costs and include the annual management fee. # Want to know more? ## blackrock.com/ uk /brge | Tel: 0207 743 3000 | cosec@blackrock.com > RET0526-5441784-EXP0527-5/6 Risk Warnings Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back th e amount originally invested. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration whe n selecting a product or strategy. Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation m ay be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and ba sis of taxation may change from time to time and depend on personal individual circumstances. Trust Specific Risks Counterparty risk. The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss. Currency Risk. The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. Emerging Markets. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors incl ude greater 'Liquidity Risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to t he Fund. Liquidity risk. The Fund’s investments may have low liquidity which often causes the value of these investments to be less predictable. In ex tre me cases, the Fund may not be able to realize the investment at the latest market price or at a price considered fair . Gearing risk. Investment strategies, such as borrowing, used by the Trust can result in even larger losses suffered when the value of the u nde rlying investments fall . Important Information This document is marketing material and will expire 12 months after issue In the UK and Non -European Economic Area (EEA) countri es (excluding Switzerland),: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Cond uct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel: + 44 (0)20 7743 3000. Registered in England and Wales No. 02 020 394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of author ise d activities conducted by BlackRock. The Company is managed by BlackRock Fund Managers Limited (BFM) as the AIFM. BFM has delegated certain investment management and other ancillary services to BlackRock Investment Management (UK) Limited. The Company’s shares are traded on the London Stock Excha nge and dealing may only be through a member of the Exchange. The Company will not invest more than 15% of its gross assets in other listed i nve stment trusts. SEDOL is a trademark of the London Stock Exchange plc and is used under licence. Net Asset Value (NAV) performance is not the same as share price performance, and shareholders may realise returns that are l owe r or higher than NAV performance. BlackRock Greater Europe Investment Trust plc currently conducts its affairs so that its securities can be recommended by IFA s t o ordinary retail investors in accordance with the Financial Conduct Authority’s rules in relation to non -mainstream investment products and inten ds to continue to do so for the foreseeable future. The securities are excluded from the Financial Conduct Authority’s restrictions which apply to no n-mainstream investment products because they are shares in an investment trust. Investors should understand all characteristics of the fu nds objective before investing. For information on investor rights and how to raise complaints please go to https://www.blackrock.com/corporate/compliance/investor - right available in local language in registered jurisdictions. BlackRock has not considered the suitability of this investment against your individual needs and risk tolerance. To ensure y ou understand whether our product is suitable, please read the fund specific risks in the Key Investor Document (KID) which gives more information abou t t he risk profile of the investment. The KID and other documentation are available on the relevant product pages at www.blackrock.co.uk/its . We recommend you seek independent professional advice prior to investing. Any research in this document has been procured and may have been acted on by BlackRock for its own purpose. The results of s uch research are being made available only incidentally. The views expressed do not constitute investment or any other advice and are subject to cha nge . They do not necessarily reflect the views of any company in the BlackRock Group or any part thereof and no assurances are made as to thei r a ccuracy. This document is for information purposes only and does not constitute an offer or invitation to anyone to invest in any Blac kRo ck funds and has not been prepared in connection with any such offer. © 2026 BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, and iSHARES are trademarks of BlackRock, Inc. or its affiliates All other trademarks are those of their respective owners.