Title: 242508301.pdf URL Source: https://documentscdn.financialexpress.net/Literature/806C22864BE14710924C59D0C4325794/242508301.pdf Number of Pages: 2 Markdown Content: MARKETING COMMUNICATION | Factsheet | 30 April 2026 Factsheet | 30 April 2026 # The Mercantile Investment Trust plc ISIN GB00BF4JDH58 GB00BF4JDH58 Sedol BF4JDH5 BF4JDH5 Bloomberg MRC LN MRC LN Reuters MRCM.L MRCM.L # Objective: The Company aims to achieve long The Company aims to achieve long --term capital growth through investing term capital growth through investing in a diversified portfolio of UK medium and smaller companies. It pays in a diversified portfolio of UK medium and smaller companies. It pays quarterly dividends and aims to grow its dividend at least in line with quarterly dividends and aims to grow its dividend at least in line with inflation. The Company inflation. The Company ’’s gearing policy is to operate within a range of 10% s gearing policy is to operate within a range of 10% net cash to 20% geared. Gearing may magnify gains or losses net cash to 20% geared. Gearing may magnify gains or losses experienced by the Company. experienced by the Company. # Company ratings # Performance Cumulative performance (%) Cumulative Annualised 1 month 3 months 1 year YTD 3 years 5 years 10 years 10.50 10.50 --0.86 0.86 15.70 15.70 2.99 2.99 12.92 12.92 2.66 2.66 8.04 8.04 9.89 9.89 --0.49 0.49 14.01 14.01 3.38 3.38 10.28 10.28 3.23 3.23 7.62 7.62 6.39 6.39 --4.02 4.02 15.66 15.66 0.41 0.41 8.67 8.67 3.13 3.13 5.61 5.61 Portfolio manager(s) Share price Actual gearing Guy Anderson (2012) Guy Anderson (2012) Anthony Lynch (2012) Anthony Lynch (2012) 261.5p 261.5p 16.0% 16.0% Company Broker(s) NAV Company fees & expenses Ongoing Charges Peel Hunt / Winterflood Peel Hunt / Winterflood Securities Securities 290.1p 290.1p 0.49% 0.49% Benchmark Company launch Annual management fee FTSE All FTSE All --Share (ex FTSE Share (ex FTSE 100, ex Inv Companies) 100, ex Inv Companies) ((££)) 8 Dec 1884 8 Dec 1884 0.45% on Market Cap 0.45% on Market Cap Company assets Discount( -)/ Premium Performance fee ££ 2144.3m 2144.3m --9.8% 9.8% No No Dividends paid Potential gearing range February, May, August February, May, August and November and November --10% to 20% 10% to 20% ESG Integration is the systematic inclusion of financially material ESG ESG Integration is the systematic inclusion of financially material ESG factors, alongside other relevant factors, in investment analysis and factors, alongside other relevant factors, in investment analysis and investment decisions with the goals of managing risk and improving long investment decisions with the goals of managing risk and improving long -- term returns. ESG integration does not by itself change this product's term returns. ESG integration does not by itself change this product's investment objective, exclude specific types of companies or constrain its investment objective, exclude specific types of companies or constrain its investable universe. This product is not designed for investors who are investable universe. This product is not designed for investors who are looking for a product that meets specific ESG goals or wish to screen out looking for a product that meets specific ESG goals or wish to screen out particular types of companies or investments, other than those required by particular types of companies or investments, other than those required by any applicable law such as companies involved in the manufacture, any applicable law such as companies involved in the manufacture, production or supply of cluster munitions. ESG integration does not imply production or supply of cluster munitions. ESG integration does not imply that the Fund is marketed or authorised as an ESG product in any that the Fund is marketed or authorised as an ESG product in any jurisdiction where such authorisation is required. jurisdiction where such authorisation is required. # ESG information ESG approach - Integrated Morningstar Category™ CE UK Mid -Cap Equity FE Crown Fund Share Price Net asset value Benchmark: FTSE All FTSE All --Share (ex FTSE 100, ex Inv Companies) ( Share (ex FTSE 100, ex Inv Companies) ( ££)) 1 2 3 Quarterly rolling 12 -month performance (%) As at end of March 2026 As at end of March 2026 YIELD AND DIVIDEND HISTORY 2022 2023 2024 2025 2026 Total dividend per share (p) Total dividend per share (p) 6.90 6.90 7.15 7.15 7.65 7.65 7.90 7.90 8.20 8.20 # Portfolio analysis Measurement 3 years 5 years Correlation Correlation 0.95 0.95 0.96 0.96 Alpha (%) Alpha (%) 1.48 1.48 0.11 0.11 Beta Beta 0.94 0.94 1.03 1.03 Annualised volatility (%) Annualised volatility (%) 14.81 14.81 17.46 17.46 Sharpe ratio Sharpe ratio 0.42 0.42 0.08 0.08 Tracking error (%) Tracking error (%) 4.48 4.48 4.72 4.72 Information ratio Information ratio 0.32 0.32 0.06 0.06 # Holdings Top 10 Sector Sector % of assets % of assets Serco Serco Industrials Industrials 3.8 3.8 Plus500 Plus500 Financials Financials 3.8 3.8 Balfour Beatty Balfour Beatty Industrials Industrials 3.4 3.4 Cranswick Cranswick Consumer Staples Consumer Staples 3.3 3.3 Intermediate Capital Group Intermediate Capital Group Financials Financials 3.3 3.3 Softcat Softcat Technology Technology 3.1 3.1 Hill & Smith Hill & Smith Basic Materials Basic Materials 2.9 2.9 Bellway Bellway Consumer Consumer Discretionary Discretionary 2.8 2.8 Rosebank Industries Rosebank Industries Industrials Industrials 2.7 2.7 IG Group IG Group Financials Financials 2.7 2.7 Past performance is not a reliable indicator of current and future results. For more information on our approach to sustainable investing at J.P. For more information on our approach to sustainable investing at J.P. Morgan Asset Management please visit Morgan Asset Management please visit https://am.jpmorgan.com/uk/esg https://am.jpmorgan.com/uk/esg The latest month in review commentary can be found on the J.P.Morgan The latest month in review commentary can be found on the J.P.Morgan Asset Management website Asset Management website here here .. Performance Disclosures ESG GROWTH OF £ 10,000 Calendar years 30 Apr 2021 30 Apr 2021 30 Apr 2026 30 Apr 2026 2021/2022 2022/2023 2023/2024 2024/2025 2025/2026 --12.47 12.47 --5.67 5.67 18.60 18.60 2.31 2.31 9.66 9.66 --2.90 2.90 --5.26 5.26 14.73 14.73 0.28 0.28 9.66 9.66 0.15 0.15 --8.11 8.11 10.19 10.19 1.02 1.02 12.53 12.53 Prospective dividend yield: Prospective dividend yield: 3.1% Total dividend for last financial year: Total dividend for last financial year: 8.20p Financial year end: Financial year end: 31 January Summary Risk Indicator > Lower risk Lower risk Higher risk Higher risk Market cap (%) (GBP) 0.00 0.00 > 100 bn > 100 bn 1.50 1.50 10 bn <> 100 bn 10 bn <> 100 bn 81.30 81.30 1 bn <> 10 bn 1 bn <> 10 bn 17.20 17.20 < 1 bn < 1 bn Figures shown may not add up to 100 due to rounding. Figures shown may not add up to 100 due to rounding. Sectors (%) Compared to benchmark Financials Financials 27.2 27.2 +7.5 +7.5 Industrials Industrials 24.9 24.9 +2.6 +2.6 Consumer Discretionary Consumer Discretionary 16.2 16.2 --2.5 2.5 Technology Technology 8.3 8.3 +3.5 +3.5 Consumer Staples Consumer Staples 8.2 8.2 +2.2 +2.2 Real Estate Real Estate 6.9 6.9 --5.0 5.0 Basic Materials Basic Materials 5.1 5.1 --1.4 1.4 Utilities Utilities 1.4 1.4 --1.6 1.6 Energy Energy 0.0 0.0 --3.0 3.0 Health Care Health Care 0.0 0.0 --2.9 2.9 Telecommunications Telecommunications 0.0 0.0 --1.2 1.2 Cash Cash 1.8 1.8 +1.8 +1.8 Figures shown may not add up to 100 due to rounding. Figures shown may not add up to 100 due to rounding. n n n n Investment is subject to documentation. The Annual Reports and Financial Statements, AIFMD art. 23 Investor Disclosure Document and PRIIPs Key Information Document can be obtained free of charge in English from JPMorgan Funds Limited or www.jpmam.co.uk/investmenttrust . This material should not be considered as advice or an investment This material should not be considered as advice or an investment recommendation. Company holdings and performance are likely to have changed recommendation. Company holdings and performance are likely to have changed since the report date. No provider of information presented here, including index since the report date. No provider of information presented here, including index and ratings information, is liable for damages or losses of any type arising from and ratings information, is liable for damages or losses of any type arising from use of their information. use of their information. To the extent permitted by applicable law, we may record telephone calls and To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our EMEA processed by J.P. Morgan Asset Management in accordance with our EMEA Privacy Policy Privacy Policy www.jpmorgan.com/emea www.jpmorgan.com/emea --privacy privacy --policy policy Risk Indicator: The risk indicator assumes you keep the product for 5 year(s). The Risk Indicator: The risk indicator assumes you keep the product for 5 year(s). The risk of the product may be significantly higher if held for less than the risk of the product may be significantly higher if held for less than the recommended holding period. recommended holding period. Ongoing charges are the management fee and all other operating expenses, Ongoing charges are the management fee and all other operating expenses, excluding interest charges on any borrowing and any performance fee payable excluding interest charges on any borrowing and any performance fee payable expressed as a percentage of the average daily net assets during the year. All the expressed as a percentage of the average daily net assets during the year. All the figures are for the previous financial year unless where indicated. For information figures are for the previous financial year unless where indicated. For information on ongoing charges please refer to the Company's Annual Report and Accounts. on ongoing charges please refer to the Company's Annual Report and Accounts. https://mercantileit.co.uk https://mercantileit.co.uk Performance information Source: J.P. Morgan Asset Management/Morningstar. Net asset value Source: J.P. Morgan Asset Management/Morningstar. Net asset value performance (NAV) data has been calculated on a NAV to NAV basis, including performance (NAV) data has been calculated on a NAV to NAV basis, including ongoing charges and any applicable fees, with any income reinvested, in GBP. ongoing charges and any applicable fees, with any income reinvested, in GBP. NAV is the cum income NAV with debt at fair value, diluted for treasury and/or NAV is the cum income NAV with debt at fair value, diluted for treasury and/or subscription shares if applicable, with any income reinvested.Share price subscription shares if applicable, with any income reinvested.Share price performance figures are calculated on a mid market basis in GBP with income performance figures are calculated on a mid market basis in GBP with income reinvested on the ex reinvested on the ex --dividend date.The performance of the company's portfolio, or dividend date.The performance of the company's portfolio, or NAV performance, is not the same as share price performance and shareholders NAV performance, is not the same as share price performance and shareholders may not realise returns which are the same as NAV performance. may not realise returns which are the same as NAV performance. Prospective dividend yield is for the investment trust's current financial year. It is is for the investment trust's current financial year. It is indicative only and based on the latest month end mid indicative only and based on the latest month end mid --market price and the market price and the declared and net prospective dividends for the current financial year. declared and net prospective dividends for the current financial year. Holdings information Market Cap excludes cash. Market Cap excludes cash. Information Sources # Key risks External factors may cause an entire asset class to decline in value. External factors may cause an entire asset class to decline in value. Prices and values of all shares or all bonds and income could decline at Prices and values of all shares or all bonds and income could decline at the same time, or fluctuate in response to the performance of individual the same time, or fluctuate in response to the performance of individual companies and general market conditions. companies and general market conditions. This Company may utilise gearing (borrowing) which will exaggerate This Company may utilise gearing (borrowing) which will exaggerate market movements both up and down. market movements both up and down. This Company may also invest in smaller companies which may This Company may also invest in smaller companies which may increase its risk profile. increase its risk profile. The share price may trade at a discount to the Net Asset Value of the The share price may trade at a discount to the Net Asset Value of the Company. Company. The single market in which the Company primarily invests, in this case The single market in which the Company primarily invests, in this case the UK, may be subject to particular political and economic risks and, as the UK, may be subject to particular political and economic risks and, as a result, the Company may be more volatile than more broadly diversified a result, the Company may be more volatile than more broadly diversified companies. companies. Companies listed on AIM tend to be smaller and early stage companies Companies listed on AIM tend to be smaller and early stage companies and may carry greater risks than an investment in a Company with a full and may carry greater risks than an investment in a Company with a full listing on the London Stock Exchange. listing on the London Stock Exchange. General Disclosures Company information, including performance calculations and other data, is Company information, including performance calculations and other data, is provided by J.P. Morgan Asset Management (the marketing name for the asset provided by J.P. Morgan Asset Management (the marketing name for the asset management businesses of JPMorgan Chase & Co. and its affiliates worldwide). management businesses of JPMorgan Chase & Co. and its affiliates worldwide). All data is as at the document date unless indicated otherwise. ©© 2026 Morningstar. All Rights Reserved. The information contained herein: (1) is 2026 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this providers are responsible for any damages or losses arising from any use of this information. information. Benchmark Source: FTSE Benchmark Source: FTSE ®® is a trade mark of London Stock Exchange Limited and is a trade mark of London Stock Exchange Limited and The Financial Times Limited and is used by FTSE International Limited under The Financial Times Limited and is used by FTSE International Limited under license. license. Issuer JPMorgan Asset Management (UK) Limited Registered address: 25 Bank Street, JPMorgan Asset Management (UK) Limited Registered address: 25 Bank Street, Canary Wharf, London E14 5JP, United Kingdom. Authorised and regulated by the Canary Wharf, London E14 5JP, United Kingdom. Authorised and regulated by the Financial Conduct Authority. Registered in England No. 01161446. Financial Conduct Authority. Registered in England No. 01161446. Definitions FE fundinfo Crown Rating are quantitative ratings ranging from one to five are quantitative ratings ranging from one to five designed to help investors identify funds which have displayed superior designed to help investors identify funds which have displayed superior performance in terms of stockpicking, consistency and risk control. performance in terms of stockpicking, consistency and risk control. FE Crown Fund Ratings are however purely quantitative and backward looking, FE Crown Fund Ratings are however purely quantitative and backward looking, and, as such, cannot offer any certainty about the future. and, as such, cannot offer any certainty about the future. FE Trustnet crown rating as at 31 Jan 2026. FE Trustnet crown rating as at 31 Jan 2026. Benchmark comparison The benchmark is for comparative purposes only. The benchmark is for comparative purposes only. Gearing Gearing represents the excess amount above shareholders´ funds of total Gearing represents the excess amount above shareholders´ funds of total investments (excluding liquidity fund holdings) expressed as a percentage of the investments (excluding liquidity fund holdings) expressed as a percentage of the shareholders´ funds. If the amount calculated is negative, this is known as a shareholders´ funds. If the amount calculated is negative, this is known as a ““net net cash cash ”” position. position. Discount/Premium If the share price of an investment company is lower/higher If the share price of an investment company is lower/higher than the NAV per share, the company is said to be trading at a discount/premium. than the NAV per share, the company is said to be trading at a discount/premium. The discount/premium is shown as a percentage of the NAV. The discount/premium is shown as a percentage of the NAV. NAV The value of investment and cash, including current year revenue, less The value of investment and cash, including current year revenue, less liabilities (prior charges such as loans, debenture stock and preference shares at liabilities (prior charges such as loans, debenture stock and preference shares at fair value). fair value). Cash A company A company ’’s net exposure to cash / cash equivalents [includes investment in s net exposure to cash / cash equivalents [includes investment in liquidity funds and treasury stocks if held] expressed as a percentage of liquidity funds and treasury stocks if held] expressed as a percentage of shareholders funds after any offset against its gearing. shareholders funds after any offset against its gearing. Correlation measures the strength and direction of the relationship between measures the strength and direction of the relationship between movements in fund and benchmark returns. A correlation of 1.00 indicates that movements in fund and benchmark returns. A correlation of 1.00 indicates that fund and benchmark returns move in lockstep in the same direction. fund and benchmark returns move in lockstep in the same direction. Alpha (%) a measure of excess return generated by a manager compared to the a measure of excess return generated by a manager compared to the benchmark. An alpha of 1.00 indicates that a fund has outperformed its benchmark. An alpha of 1.00 indicates that a fund has outperformed its benchmark by 1%. benchmark by 1%. Beta a measure of a fund a measure of a fund ’’s sensitivity to market movements (as represented by the s sensitivity to market movements (as represented by the fund fund ’’s benchmark). A beta of 1.10 suggests the fund could perform 10% better than s benchmark). A beta of 1.10 suggests the fund could perform 10% better than the benchmark in up markets and 10% worse in down markets, assuming all other the benchmark in up markets and 10% worse in down markets, assuming all other factors remain constant.Usually the higher betas represent riskier investments. factors remain constant.Usually the higher betas represent riskier investments. Annualised volatility (%) measures the extent to which returns vary up and down measures the extent to which returns vary up and down over a given period. over a given period. Sharpe ratio performance of an investment adjusting for the amount of risk taken performance of an investment adjusting for the amount of risk taken (compared a risk (compared a risk --free investment). The higher the Sharpe ratio the better the free investment). The higher the Sharpe ratio the better the returns compared to the risk taken. returns compared to the risk taken. Tracking error (%) measures how much a fund measures how much a fund ’’s returns deviate from those of the s returns deviate from those of the benchmark. The lower the number the closer the fund benchmark. The lower the number the closer the fund ’’s historic performance has s historic performance has followed its benchmark. followed its benchmark. Information ratio measures if a manager is outperforming or underperforming the measures if a manager is outperforming or underperforming the benchmark and accounts for the risk taken to achieve the returns. A manager who benchmark and accounts for the risk taken to achieve the returns. A manager who outperforms a benchmark by 2% p.a. will have a higher IR than a manager with the outperforms a benchmark by 2% p.a. will have a higher IR than a manager with the same outperformance but who takes more risk. same outperformance but who takes more risk. Page 2 of 2 | Factsheet | 30 April 2026 | 30 April 2026 The Mercantile Investment Trust plc The Mercantile Investment Trust plc 0903c02a823c9316