Issue of Equity

The Scottish American Investment Company P.L.C.

Legal Entity Identifier: 549300NF03XVC5IFB447

Owing to demand in the market, the Company announces the allotment of 50,000 new Ordinary Shares of 25p each fully paid on 13 August 2020.  Following the allotment there are 155,565,943 Ordinary Shares in issue.  These shares were issued for cash on 13 August 2020 at a price of 430.0p per share and at a premium to the prevailing net asset value.

Baillie Gifford & Co Limited

Company Secretaries

13 August 2020

Regulated Information Classification: Acquisition or disposal of the issuer's own shares