Title: URL Source: https://is.gd/Mek2Oi Published Time: Tue, 17 Jun 2025 08:57:40 GMT Markdown Content: Baillie Gifford European Growth Trust plc # 31 May 2025 All data as at 31 May 2025 and source Baillie Gifford & Co Limited unless otherwise stated. Past performance is not a guide to future returns. Key Information *Ongoing charges as disclosed in the latest Annual Report and Financial Statements and c alculated in accordance with AIC recommendations. These charges are incurred by the Trust and are not deducted from the value of your investment as these charges are already accounted for in the Trust’s share price. **Relative to FTSE Europe ex UK Index . Source: Baillie Gifford & Co, FTSE . Proposition The Trust aims to achieve capital growth over the long term from a diversified portfolio of European securities; the yield on the Trust’s investments is of secondary importance. The managers invest in high quality, well managed businesses that are able to grow significantly and which typically have a strong competitive position and are managed by owner -operators. The portfolio is relatively concentrated with between 30 and 60 listed and private companies. Sector and industry weightings are a consequence of bottom -up stock picking. The portfolio does not seek to track or mirror the index, the active share is likely to be over 80%. Manager s Stephen Paice / Chris Davies Total Assets £406.81 m Total Borrowings £50.51 m Ongoing Charges 0.65 %* Dividend Yield 0.6 % Gross Gearing 14 % Gearing 13 % Active Share 88 %** Annual Turnover 23 % Net Asset Value per Share (NAV) 109.65 p Share Price 98.00 p Discount of Share Price to NAV 10.6 % Invested in Private Companies 9.7 % Geographic Analysis of Total Assets 1 Netherlands 23.4 % 2 Sweden 17.5 % 3 Italy 10.8 % 4 Denmark 9.7 % 5 France 8.5 % 6 Germany 6.7 % 7 Ireland 6.3 % 8 Switzerland 6.1 % 9 Poland 5.4 % 10 Norway 3.1 % 11 Portugal 1.2 % 12 Net Liquid Assets 1.1 % Top 20 Sector Positions (%) - 20 in Total Top Ten Holdings Holdings % of Total Assets 1 Topicus.com 7.1 2 Bending Spoons 5.4 3 Adyen 4.3 4 DSV 4.1 5 Prosus 3.6 6 Reply 3.5 7 Ryanair 3.4 8 Allegro.eu 3.3 9 Novo Nordisk 3.2 10 ASML 3.2 Total 41.1 Performance Periodic Performance (%) 1 Year 3 Years 5 Years 10 Years Share Price -0.1 10.1 4.1 41.4 NAV -4.6 7.9 10.2 49.3 Index* 7.4 37.6 67.1 131.1 Discrete Performance (%) 31/03/20 - 31/03/21 31/03/21 - 31/03/22 31/03/22 - 31/03/23 31/03/23 - 31/03/24 31/03/24 - 31/03/25 Share Price 73.9 -20.2 -12.0 7.4 -6.5 NAV 66.1 -14.2 -2.6 5.9 -13.0 Index* 34.9 3.9 8.7 13.8 3.8 Performance source: Morningstar, FTSE, total return in sterling. *Index: FTSE Europe ex UK Index . 1 2 34 5 6 7 8 9 10 > 0510 15 20 25 > Leisure Goods > Banks > Aerospace and Defense > Medical Equipment and Services > Chemicals > Personal Care, Drug and Grocery Stores > Beverages > Electronic and Electrical Equipment > Media > Consumer Services > Travel and Leisure > Industrial Engineering > Technology Hardware and Equipment > Personal Goods > Construction and Materials > Industrial Support Services > Industrial Transportation > Pharmaceuticals and Biotechnology > Investment Banking and Brokerage Services > Software and Computer Services 60 80 100 120 140 160 180 May 20 May 21 May 22 May 23 May 24 May 25 Indexed Share Price – Baillie Gifford European Growth Trust plc NAV – Baillie Gifford European Growth Trust plc Index* Additional Trust Information Full product details, including a Key Information Document, the possible effect of charges on an investment, are available on request, please see below for contact details. In this document all references to NAV and NAV performance are calculated with borrowings deducted at fair value. Borrowings at fair value is borrowings (if any) at an estimate of their market worth. The total borrowings disclosed in this document are at par value. All performance figures are in sterling terms, total return – that is, with any dividends reinvested. The graph represents five years’ performance, to the date at the top of the document, and has been indexed to start at 100 (this aids comparison and is not a reflection of actual values at any given date). The discrete performance table is updated quarterly. Gearing is calculated according to Association of Investment Companies (AIC) guidelines. The gross gearing figure reflects the amount of borrowings at par drawn expressed as a percentage of shareholders’ funds. The gearing figure reflects the amount of borrowings at par less cash and cash equivalents actively invested, expressed as a percentage of shareholders’ funds. Active share, a measure of how actively a portfolio is managed, is the percentage of the portfolio that differs from its comparative index. It is calculated by deducting from 100 the percentage of the portfolio that overlaps with the comparative index. An active share of 100 indicates no overlap with the comparative index and an active share of zero indicates a portfolio that tracks the comparative index. Annual turnover is a measure of portfolio change or trading activity in a portfolio. Turnover is calculated as the minimum of purchases and sales in a month, divided by the average market value of the portfolio , summed to get rolling 12 month turnover data. A negative cash position may sometimes occur due to obligations awaiting settlement. Baillie Gifford & Co Limited’s annual remuneration is 0.55% of the lower of market capitalisation and NAV up to £500m and 0.50% on any excess. This is calculated and payable on a quarterly basis. The ongoing charges figure represents the total operating costs of the Trust divided by the average net assets (with debt at fair value) as disclosed in the most recently published Annual Report and Financial Statements There are no additional one -off, ongoing or incidental costs charged by the Trust when its shares are traded. As such, costs have been shown as nil (0.00%) in the costs table of the Trust’s Key Information Document. This reflects the temporary exemption from the PRIIPs Regulation and other assimilated EU law provided by the FCA to investment companies. The dividend yield quoted is historical. It is based on dividends paid by the Trust in the previous 12 months as a percentage of the share price. It includes any non -recurring special dividends paid by the Trust in the prior year. All figures are rounded, so any totals may not sum. Further Information This factsheet is issued by Baillie Gifford & Co Limited, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN. Baillie Gifford group provides the following services to the Trust. Baillie Gifford & Co Limited is the manager and secretary of the Trust, and it delegates portfolio management to Baillie Gifford & Co. Both firms are authorised and regulated by the Financial Conduct Authority. Target Market The Trust is suitable for all investors seeking a fund that aims to deliver capital growth over a long -term investment horizon. The investor should be prepared to bear losses. The Trust is aimed at mass market distribution. The Trust may not be suitable for investors who are concerned about short -term volatility and performance, who are seeking a regular source of income or who may be investing for less than 5 years. The Trust does not offer capital protection. Contact Us For further information about the Trust or Baillie Gifford’s range of Investment Trusts, please contact us at the below address, call our Client Relations Team on 0800 917 211 3 (your call may be recorded for training or monitoring purposes), visit our website at bailliegifford.com, or email enquiries@bailliegifford.com . Risk Warnings The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies. The value of their shares, and any income from them, can fall as well as rise and investors may not get back the amount invested. The specific risks associated with the Trust include: — The Trust invests in overseas securities. Changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up. — Unlisted investments such as private companies can increase risk. These assets may be more difficult to sell, so changes in their prices may be greater. — The Trust can borrow money to make further investments (sometimes known as "gearing" or "leverage"). The risk is that when this money is repaid by the Trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the Trust will make a loss. If the Trust's investments fall in value, any invested borrowings will increase the amount of this loss. — Market values for securities which have become difficult to trade may not be readily available and there can be no assurance that any value assigned to such securities will accurately reflect the price the Trust might receive upon their sale. — The Trust's risk is increased as it holds fewer investments than a typical investment trust and the effect of this, together with its long term approach to investment, could result in large movements in the share price. — The Trust can make use of derivatives which may impact on its performance. — Share prices may either be below (at a discount) or above (at a premium) the net asset value (NAV). The Company may issue new shares when the price is at a premium which may reduce the share price. Shares bought at a premium may have a greater risk of loss than those bought at a discount. — The Trust can buy back its own shares. The risks from borrowing, referred to above, are increased when a trust buys back its own shares. — The aim of the Trust is to achieve capital growth. You should not expect a significant, or steady, annual income from the Trust. — The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority. The information and opinions expressed within this factsheet are subject to change without notice. This information has been issued and approved by Baillie Gifford & Co Limited and does not in any way constitute investment advice. This factsheet does not constitute an offer or invitation to deal in securities. Further details of the risks associated with investing in the Trust, including how charges are applied, can be found by calling the number below or visiting the website. Legal Notices Source: London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). © LSE Group 2025. FTSE Russell is a trading name of certain of the LSE Group companies. "FTSE®" "Russell®", is/are a trade mark(s) of the relevant LSE Group companies and is/are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company's express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication. Baillie Gifford & Co Limited Calton Square, 1 Greenside Row, Edinburgh EH1 3AN Telephone 0800 917 211 3 bailliegifford.com > Ref: 157001 > Copyright © Baillie Gifford & Co 2025 .All rights reserved. Ratings – As at 30 April 2025 Overall Morningstar Rating ™ This Fund is rated by © Morningstar, for more information, please go to morningstar.co.uk.