7 August 2025

Bellevue Healthcare Trust plc

(the "Company")

Strategic Review

The Board of Directors of Bellevue Healthcare Trust plc (LSE: BBH), an investment trust managed by Bellevue Asset Management, which invests in a concentrated portfolio of global healthcare companies, today announces a strategic review of all options available to the Company with the objective of improving performance or otherwise achieving value for shareholders.

The strategic review will be led by the Board with support from the Company's advisers including J.P. Morgan Cazenove. The Board will consult with shareholders as part of the strategic review which is expected to conclude in early Q4 CY2025 when the review's recommendations will be announced.

The Board has engaged regularly with the current investment manager in connection with the Company's performance and decided to initiate the strategic review in light of continued underperformance and the fall in size of the Company.

The strategic review will consider all options for the future of the Company. The Board welcomes proposals from all parties, including Bellevue Asset Management, third-party investment managers and other investment companies. Interested parties should contact J.P. Morgan Cazenove for further information.

During the strategic review, the Company's annual redemption facility will be paused. The Zero Discount Policy, announced on 23 April 2025, will continue to operate throughout the review process. 

Further announcements will be made in due course.

Kate Bolsover, Chairman of Bellevue Healthcare Trust plc, said: "The Board's primary objective remains the preservation and enhancement of shareholder value and, in launching this strategic review, we intend to consider carefully all options for the future of the Company. We will, as always, continue to engage in active dialogue with our shareholders throughout this process."

For further information, please contact:

LEI: 213800HQ3J3H9YF2UI82