Key Information Document Purpose This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products.The Investment Company PLC ( GB00BV4FKD05 ) https://theinvestmentcompanyplc.co.uk Competent Authority: Financial Conduct Authority Call 020 3934 6630 for more informationThis document was published on 30-04-2025 You are about to purchase a product that is not simple and may be difficult to understand. What is this product? Type The Company is a closed-ended investment company whose shares are• no investment will be made in companies that are not listed or traded on the listed on the London Stock Exchange and an alternative investment fundMain Market, the AQSE or AIM at the time of investment, nor in any under the Alternative Investment Fund Managers Directive ("AIFMD"). The companies which have not applied for their shares to be admitted to listing Company's shares are therefore available to the general public. or trading on these markets; • no investment will be made in other listed or unlisted closed-ended Objectives The Company’s investment objective is to maximise capital investment funds or in any open-ended investment funds; and growth for Shareholders over the long-term by investing in high-quality, • the Company will not invest directly in FTSE 100 companies (preference quoted, UK small and mid-cap companies. shares, loan stocks or notes, convertible securities or fixed interest securities The Company intends to fulfil its investment objective through investing in or any similar securities convertible into shares), nor will it invest in the cash-generative quoted UK small and mid-cap companies that are expected securities of other investment trusts or in unquoted companies. The Company to grow faster than the UK stock market as a whole over the long term and may, on some occasions, hold such investments as a result of corporate which can finance their own organic growth. The Company will primarilyactions by investee companies. If the Company holds shares in a company invest in equity securities of companies with shares admitted to listing on the which enters the FTSE 100, it may not immediately divest of those shares Main Market, the AQSE or to trading on AIM with a market capitalisation but will do so when it considers appropriate, subject to market conditions. of less than £250 million at the time of investment. The Company may also The Company may hold assets acquired by the Company prior to the invest in companies with shares admitted to listing on the Main Market, the adoption of its investment policy for which there is no market and whose AQSE or to trading on AIM with a market capitalisation of £250 million or value the Company has written down to zero. The Company shall dispose of more at the time of investment for liquidity purposes. The Company will such assets as soon as is reasonably practicable. identify prospective companies through a formal quantitative and qualitative No material change will be made to the investment policy without the screening process which focuses on criteria such as the ability to convert a approval of Shareholders by ordinary resolution. high proportion of profit into cash, sustainable margins, limited working capital intensity and a strong management team. Companies that successfully pass the screening process will form part of the Company’s ‘investableIntended retail investor The target investors are institutions and individual universe’ of prospective companies. retail investors. The Company has not set any limits on sector weightings within the portfolio but its exposures to sectors and stocks will be reported to, and monitored by,Term There is no fixed maturity date. There is no ability for the Company to the Board in order to ensure that adequate diversification is achieved. The terminate shareholdings of investors in the Company unilaterally or Company will maintain a diversified portfolio of a minimum of 60 holdings automatically. Shareholders can next vote on the continuation of the in UK small and mid-cap companies.Company as an investment trust in 2028. If shareholders vote in a simple The Company may also invest in cash, cash equivalents, near cash majority against continuation, the Board would have to put forward a instruments and money market instruments. proposal for the future of the Company, which could include liquidation. The The Company will apply the following restrictions on its investments: shares of the Company are bought and sold via markets. Typically, at any given time on any given day, the price you pay for a share will be higher than • not more than 10% of the Company’s Gross Assets at the time of investment the price at which you could sell it. will be invested in the securities of a single issuer; What are the risks and what could I get in return? Risk IndicatorThis product does not include any protection from future market performance so you could lose some or all of your investment. If we are not able to pay you what is owed, you could lose your entire 1 2 3 4 5 6 7 investment.Lower riskHigher risk The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will The risk indicator assumes you keep the product for 5 lose money because of movements in the markets or because we are not able Years. to pay you. We have classified this product as 5 out of 7, which is a medium-high risk class. This rates the potential losses from future performance at a medium- The actual risk can vary significantly if you cash in at an high level, and poor market conditions will likely impact the capacity to pay early stage and you may get back less. you. Investment performance information The main risks arising from the Company’s financial instruments are due toThis product does not include any protection from future market deterioration fluctuations in their market prices, business risk, concentration risk, so you could lose some or all of your investment. monetary risk, operational risk, regulatory risk, credit risk and liquidity risk. The Board and investment manager seek to mitigate risks through various Other geopolitical issues may affect the Company’s investments. The policies and procedures and further details regarding the specific risks conflicts in Ukraine and the Middle East have had a significant impact, inter applicable to this Company are included in the Annual Report which may be alia, on inflation and, in conjunction with affairs in Chjna, an impact onobtained from theCompany website at supply chains and globalisation. Investee companies will vary as to the https://theinvestmentcompanyplc.co.uk impact on them and their ability to adapt.What could affect my return positively? The Company is reliant on service providers. Failure of the internal control The Company looks to invest in businesses that can demonstrate resilient systems of these parties could result in losses to the Company. characteristics and a shared philosophy around long term creation of value. The Company looks to own a portfolio of assets that possess an enduring real The profitability, market positioning and outlook for companies in which the value whether from the value of the underlying assets in an investment, or in Company is invested may decline or fail to make expected progress. This the investee’s ability to create an enduring profit stream.may be because of internal factors at the investee company or external factorssuch as competitive pressures, economic downturns or political events. What could affect my return negatively? What happens if The Investment Company PLC is unable to pay out? As a shareholder of a listed company you would not be able to make a claim to the Financial Services Compensation Scheme about the Company in the event the Company becomes insolvent. A default by the Company or any of the underlying holdings could affect the value of your investment. What are the costs? The Reduction in Yield (RIY) shows what impact the total costs you pay will have on the investment return you might get. The total costs take into account one-off, ongoing and incidental costs. The amounts shown here are the cumulative costs of the product itself, for three different holding periods. They include potential early exit penalties. The figures assume you invest 10 000 GBP. The figures are estimates and may change in the future. Costs over time The person selling you or advising you about this product may charge you other costs. If so, this person will provide you with information about these costs, and show you the impact that all costs will have on your investment over time. Investment GBP 10 000 Scenarios If you cash in after 1 Year If you cash in after 3 YearsIf you cash in after 5 Years Total costs298 894 1 490 Impact on return (RIY) per year2.98% 2.98%2.98% Composition of costs The table below shows the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period and the meaning of the different cost categories. This table shows the impact on return per year One-off costsEntry costs 0.00% The impact of the costs you pay when entering your investment. This is the most you will pay, and you could pay less. Exit costs 0.00% The impact of the costs of exiting your investment when it matures. Ongoing costsPortfolio transaction costs 0.98% The impact of the costs of us buying and selling underlying investments for the product.Other ongoing costs 2.00% The impact of the costs that we take each year for managing your investments.Incidental costs Performance fees0.00% The impact of the performance fee. Carried interests 0.00% The impact of carried interests.How long should I hold it and can I take my money out early? Recommended holding period: 5 Years The recommended minimum holding period of 5 years has been selected for illustrative purposes only and reflects the long-term nature of the Company’s investment objectives, but investors may elect to sell their shares on the market at any time without penalty by the Company. The value of shares and the income derived from them (if any) may go down as well as up, and investors may not get back the full value of their investments. Whilst the shares are traded on the main market, it is possible that there may not be a liquid market in the shares and investors may have difficulty selling them. How can I complain? As a Shareholder of the Company you do not have the right to complain to the Financial Ombudsman Service about the management of the Company. Complaints about the Company should be sent to: 1) Email: tic@iscaadmin.co.uk 2) Mail: The Company Secretary, The Investment Company plc, ISCA Administration Services Limited, The Office Suite, Den House, Den Promenade, Teignmouth, TQ14 8SY Other relevant information Other relevant information on the Company and all documentation can be obtained from the Company’s website: https://theinvestmentcompanyplc.co.uk