Investment into Learning Curve Group

Schroder British Opportunities Trust plc

Investment into Learning Curve Group

Schroder British Opportunities Trust plc ("SBO" or the "Company") is pleased to announce it has invested into Learning Curve Group ("LCG"), a leading private UK training and education specialist. SBO invested alongside Agilitas, a leading pan-European mid-market private equity firm.

Since IPO, and as set out in the Company's prospectus dated 10 November 2020, the Company's Portfolio Managers have been deploying the proceeds of the Company's IPO into public equity investments. Today's investment into LCG marks the Company's first private equity investment.

LCG is based in Durham and provides life-changing opportunities for over 120,000 learners and 4,500 employers per year to help upskill both new and existing staff, enabling individuals to develop new skills in order to enter employment or advance their careers. The company, which has received 'Good' or 'Outstanding' OFSTED ratings for its business divisions, works with a range of businesses, individuals and further education colleges across the UK, offering a diverse range of over 150 courses in a variety of sectors including Health & Social Care, Education, Business and IT, Hair & Beauty and Fitness.

LCG's fundamental purpose is to help learners improve their employability and economic well-being through practical education. It provides courses across four main areas, which are supported through the creation of bespoke training materials: flexible distance learning courses for employed adults looking to upskill; employability-focused courses designed for 16-18 year olds; apprenticeships where training is delivered within companies seeking to upskill employees; and 'Advanced Learning Loans', where courses for adults seeking to upskill are delivered in LCG's academies and community locations.

Since it was founded in 2004, LCG has grown rapidly, expanding to offer its services across the UK. It was named in The Sunday Times's 'Best Companies to Work for Top 100' list in 2019 and 2020.

This investment is in line with SBO's focus on backing high-quality, high growth UK businesses, with opportunities for multi-dimensional business transformation and a strong alignment between shareholder value and fundamental positive purpose in society.

With its strong ESG focus, the Company intends that the activities of each of the investee companies in its portfolio will be consistent with the achievement of at least one of the United Nations' Sustainable Development Goals ("SDGs") or Sub-Goals. The investment in LCG is in line with SDG 4 "Education" and SDG 8 "Decent Work and Economic Growth".

Tim Creed, Head of UK and European Private Equity at Schroders, commented: "We are delighted to announce SBO's first private equity investment. LCG is a strong, UK based, high growth business that provides support for disadvantaged learners, helping their employability. LCG benefits from a flexible model, offering online and face-to-face delivery.  LCG's management team has demonstrated its ability to rapidly adapt, as evidenced during the Covid pandemic this year."

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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 have been 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