Edinburgh Worldwide Investment Trust plc

Legal Entity Identifier: 213800JUA8RKIDDLH380

03 January 2025

Update for shareholders on Saba Capital's Requisition Notice

Request for Saba to provide valid notice: On 18 December 2024, Saba Capital Management, L.P. ("Saba"), wrote to the Board of Edinburgh Worldwide Investment Trust (the "Company") with a requisition notice for a General Meeting to replace the Board and appoint alternative directors (the "Requisition Notice").

On review of the documentation, in conjunction with the Company's registrars, it was discovered that Saba's nominee was not the registered holder of sufficient shares on the date the Requisition Notice was served for the Requisition Notice to be a valid request in accordance with Section 303 of the Companies Act 2006.

Given the need, in the interests of all shareholders, to ensure full compliance with the Company's legal obligations, the Chair notified Saba of this issue and asked Saba whether it wished to resubmit a valid notice.

Board reiterates commitment to protecting Edinburgh Worldwide's future: Assuming Saba refiles a valid requisition notice aligned to its earlier invalid notice, the Board would convene a general meeting and urge all shareholders to vote against these resolutions. Saba has proposed a series of actions that the Board believes are against the shareholders' best interests. In any event, the Company will convene a general meeting of its shareholders in due course.

As stated in the initial response to the letter in our announcement also on December 18^th, 2024, the Board retains a strong conviction in Edinburgh Worldwide's vision and strategy: To identify and access potential outsized returns from a carefully selected and managed portfolio of ground-breaking businesses aiming to transform end markets; a global and broad sectoral reach with a mandate to deploy a quarter of the Company's  capital into exciting private companies. To deliver on this, as announced on November 20^th, 2024 we have worked with manager Baillie Gifford to bring forward changes to the way the Company is managed and its investment parameters, as well as a commitment to shareholders for a capital return opportunity of up to £130 million in 2025.

Jonathan Simpson Dent, chair of Edinburgh Worldwide, said: "The Board of Edinburgh Worldwide has a duty to act in the interests of all its shareholders and to ensure correct standards and procedures are followed. I have therefore asked Saba whether it wishes to submit a valid requisition notice. I reiterate the Board's commitment to protect Edinburgh Worldwide, ensuring it can continue with this exciting mandate and stop Saba seizing control."

For further information please contact:

Investors:

Deutsche Numis

Nathan Brown

Tel: +44 20 7260 1426

Matt Goss

Tel: +44 20 7260 1642

Media:

Garfield Advisory

Andrew Garfield

Tel:  07974 982 337

Jason Nisse

Tel: 07769 688 518

Baillie Gifford & Co

Naomi Cherry

Tel 0131 275 2000