Schroder British Opportunities Trust plc

(the "Company")

Top 10 holdings as at 31 July 2021

The Company's top ten equity positions as at 31 July 2021 are set out below.

Source: Schroders. Top 10 equity holdings (unaudited) as at 31 July 2021. The Company's daily NAV calculation re-values the public asset holdings on a daily basis. The private asset holdings are revalued quarterly post period end, with the latest valuation as at 31 March 2021, or, where investments have been made since 31 March 2021, these are held at cost.

The latest news about the Company, including monthly updates from the Portfolio Managers, is available to view on the Company's website www.schroders.com/sbo.

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About Schroder British Opportunities Trust plc

Schroder British Opportunities Trust plc has been established to invest in a diversified portfolio of both public equity investments and private equity investments consisting predominantly of UK Companies with strong long-term growth prospects.

ESG company engagement is a key feature of the Company's investment strategy. The Company's focus is on companies with business models which are considered to be sustainable in terms of both the longevity and durability of their businesses and their environmental, social and governance (ESG) behaviours.

The Company's ordinary shares are listed on the premium listing segment of the Official List of the Financial Conduct Authority and were admitted to trading on the main market for listed securities of the London Stock Exchange in December 2020 under the ticker "SBO".

Further information on the Company is available at www.schroders.com/sbo