The estimated unaudited Net Asset Value, calculated in accordance with the guidelines of the Association of

Investment Companies ("AIC"), for the Ordinary and 'A' Ordinary shares of Hansa Investment Company Limited at

the close of business on 30 May 2025 was as follows:

Cum Income NAV per Ordinary and 'A' Ordinary Share*                          393.42p

Ex Income NAV per Ordinary and 'A' Ordinary Share                               385.51p

* The AIC currently advises its members to list their NAVs both inclusive and exclusive of net income generated in the current period.

Therefore, net income for the current financial reporting period is made up of income received and accrued - expenses paid and accrued -

tax (if applicable) - Hansa Investment Company Limited dividend paid (or due) to shareholders. These items are not included in the "Ex

income NAV per Ordinary and 'A' Ordinary share" NAV.

Hansa Capital Partners LLP - Additional Administrative Service Provider to Hansa Investment Company

Limited