Announcement re: Publication of a prospectus

Pacific Horizon Investment Trust plc

Legal Entity Identifier: VLGEI9B8R0REWKB0LN95

11 December 2020

Publication of a prospectus and circular

Pacific Horizon Investment Trust plc (the "Company") has today published a prospectus approved by the Financial Conduct Authority in relation to the issue of up to 73,608,338 new ordinary shares in the capital of the Company (the "New Shares"). The prospectus is required to allow the Company to continue to issue New Shares to meet market demand and will be valid for 12 months from the date of publication.

It is currently intended that the New Shares will be issued only: (i) at a premium to the net asset value per share at the time of issue; (ii) to meet demand from investors; and (iii) when the Directors believe that it is in the best interests of the Company and shareholders to do so.

The Directors of the Company are also seeking shareholder approval to renew the authorities to allot shares and disapply the statutory pre-emption rights on the issue of such shares in the capital of the Company.

Accordingly, the Company has today issued a circular convening a general meeting (the "General Meeting") to be held at  11.30 a.m. on 19 January 2020 at the offices of Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN.

At the General Meeting, three resolutions will be put to shareholders. An ordinary resolution will be proposed to give the Board authority to allot up to 20 per cent. of the aggregate nominal value of the issued share capital of the Company as at 8 December 2020. Two special resolutions will also be proposed, each to give the Board authority to disapply rights of pre-emption in respect of the issue of up to 10 per cent. of the aggregate nominal value of the issued share capital of the Company as at 8 December 2020.

The authorities conferred by the resolutions to be proposed at the General Meeting will lapse at the conclusion of the next annual general meeting of the Company which is anticipated to be held in November 2021.

A copy of the prospectus and the circular will shortly be available for inspection on the Company's website at www.pacifichorizon.co.uk and at the National Storage Mechanism which is located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Baillie Gifford & Co Limited

Company Secretaries

11 December 2020

For further information please contact:

Seonaid Cook

Baillie Gifford & Co

Tel: 0131 275 3813

Regulated Information Classification: Additional regulated information required to be disclosed under applicable laws and regulations