EDINBURGH WORLDWIDE INVESTMENT TRUST PLC

RNS Number :6133V

Edinburgh Worldwide Inv Trust PLC

3 February 2025

Edinburgh Worldwide Investment Trust plc (EWI)

Legal Entity Identifier: 213800JUA8RKIDDLH380

3 February 2025

PROTECT YOUR INVESTMENT

PROTECT YOUR TRUST

VOTE TWICE TO STOP SABA

VOTE "AGAINST" SABA AT THE GENERAL MEETING

VOTE "FOR" YOUR BOARD AT THE AGM

Independent Voting Advisers Recommend Shareholders to Vote

The Board of Edinburgh Worldwide Investment Trust plc (the "Company") notes the publication of the voting recommendations from independent voting advisers Glass Lewis, ISS and PIRC, in relation to the Company's forthcoming shareholder meetings on 14 February 2025.

All three INDEPENDENT VOTING ADVISERS have recommended that shareholders

VOTE AGAINST all the Saba Resolutions at the General Meeting

and

 VOTE FOR all the Resolutions to reappoint your Board at the AGM

Industry-leading governance experts Glass Lewis, ISS and PIRC share the Board's concerns about the future of the Company should the proposals put forward by Saba, a US hedge fund manager, be voted through.

These recommendations are in line with the unanimous recommendation of the Company's independent Board.

Saba's proposals represent an existential threat to the Edinburgh Worldwide that you have invested in. Its proposal COULD be voted through unless you USE YOUR VOTES TO STOP SABA and SUPPORT THE BOARD. Historically, only 15% of Edinburgh Worldwide's Shareholders vote at our shareholder meetings[1]. Saba controls just over 25% of the Trust. In the Board's view, Saba's plan is partly based on an assumption that Shareholders will not vote on the Saba Resolutions at the GM, or for the Board's resolutions at the AGM.

A copy of the circular setting out the reasons for the Board's recommendation is available on a dedicated website https://www.trustewit.com as are instructions on how to vote, and details of when voting closes according to platform. Please note that you are being asked to vote in two separate meetings and it is important that you do so.

VOTE TWICE TO STOP SABA

THE DEADLINE FOR PROXY VOTING AT THE GENERAL MEETING IS 11:45 A.M. ON 12 FEBRUARY 2025

THE DEADLINE FOR PROXY VOTING AT THE AGM IS 12:00 NOON ON 12 FEBRUARY 2025

ALTHOUGH PLEASE BE AWARE THAT SOME PLATFORMS MAY HAVE DEADLINES AS EARLY AS 6 FEBRUARY

If you need any further information about how to vote please contact:

Shareholders: [email protected] or 0371 384 2452

General enquiries: [email protected] or 0800 917 2113

Jonathan Simpson-Dent, Chair of Edinburgh Worldwide commented: "I'm encouraged that the independent voting advisers, which many institutional investors widely rely upon, have all highlighted serious concerns about Saba's plans to replace an independent and expert Board with one which we firmly believe is conflicted from the outset and not fully aligned to your interests. The Board of Edinburgh Worldwide acknowledges a clean sweep, with shareholders at all 7 trusts under attack receiving independent voting advice unequivocally opposing Saba's proposals. The message could not be clearer: reject Saba's overt land grab, vote against its resolutions and vote to back the Board."

For further information please contact:

Media:

Garfield Advisory

Andrew Garfield

Tel:  +44 7974 982 337

Jason Nisse

Tel: + 44 7769 686618

Teneo

[email protected]

Iain Dey

Tel: +44 7976 295906

Giles Kernick

Tel: +44 7817 913082

Investors:

Deutsche Numis

David Benda

Nathan Brown

Tel: +44 20 7260 1000

Baillie Gifford & Co

Naomi Cherry

Tel: +44 131 275 2000

Notes

Capitalised terms used in this announcement have the meaning given to them in the Circular, unless otherwise defined in this announcement.