Transaction in Own Shares

Manchester & London Investment Trust plc
(the "Company")

Transaction in Own Shares

The Company announces that, on 16 November 2021, the Company purchased 83,548 ordinary shares of £0.25 at an average price of 612 pence per share. These shares will be held in Treasury.

Following this transaction, the Company's issued ordinary share capital consists of 40,528,238 shares of which 233,183 shares are held in Treasury. Therefore, the total number of shares in circulation which hold voting rights in the Company is 40,295,055 ordinary shares of £0.25. Each share has one voting right.

The above total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in the Company under the FCA’s Disclosure Guidance and Transparency Rules.

LEI: 213800HMBZXULR2EEO10