The Week UK - 29.02.2020

*Source: Morningstar,share price,total returnasat31.12.19. **Ongoingchargesasat31.03.19calculatedinaccordancewithAIC recommendations.Details of ot hercosts

canbefoundin theKeyInformationDocument. Your call mayberecorded fortrainingormonitoringpurpos es.Issuedand approvedbyBaillie Gifford&CoLimited, whose

registeredaddress is at Calton Square,1GreensideRow,Edinburgh,EH1 3AN,Unit ed Kingdom.Baillie Gifford &CoLimitedist he authorisedAlternative Investment Fund

Manager andCompany Secretaryofthe Company.Baillie Gifford&CoLimitedisauthorised andregulat ed by theFinancialConduct Authority (FCA). Theinvestment

trusts managed by Baillie Gifford &CoLimitedare listed UK compani es andare notauthorised andregulat ed by theFinancialConductAuthority.

WHOSAIDTHE SKYHAD

TO BE THELIMIT?

Business’sability to exhibit exponential growth lies at the heart of theScottish Mortgage InvestmentTrust.

Our portfolio consists of around 80 of what we believe arethe most exciting companies in the world today.Our vision

is longterm andweinvest with no limits on geographical or sector exposure.

Welike companies that can deploy innovative technologies that threaten industry incumbents and disrupt sectors

as diverse as healthcare, energy,retail, automotive and advertising.

Over the last five years theScottish Mortgage InvestmentTrusthas deliveredatotalreturnof 143.1% compared

to 106.9% for the sector*. And Scottish Mortgage is low-cost with an ongoing charges figureofjust 0.37%**.

Standardised past performance to 31 December*

2015 2016 2017 2018 2019

Scottish Mortgage 13.3%16.5% 41.1%4.6%24.8%

AICGlobal Sector^9.1%23.5% 26.4%-1.8% 24.5%

^Weightedaverage.

Past performance is notaguide to futurereturns.

Pleaseremember that changing stock market conditions and currency exchange rates

will affectthe value of the investment in the fund and any income from it. Investors may

not get back the amount invested.

Forablue sky approach call0800 917 2112or visit us atwww.scottishmortgageit.com

AKey Information Document is available by contacting us.

SCOTTISH MORTGAGE

ENTERED THE

FTSE 100 INDEX IN

MARCH 2017.

SCOTTISH MORTGAGE INVESTMENTTRUST

Long-term investment partners