The Week - UK (2021-02-06)

Your ca ll mayber ecordedfor trainingormonitoringpurposes. Issuedand appr ovedbyBaillieGifford &CoLimit ed,whose regi stered address is at Calton
Squa re,1GreensideRow,Edinb urgh ,EH1 3AN, United Kingdo m. BaillieGifford &CoLimitedisthe auth orised A lternativ eInvestmentFund Manager
andCompany Secr etaryofthe Trust. Baillie Gifford&CoLimit ed is authorised and regulated by theFinancial Co nductAutho rity.The in vestme nt trusts
managedbyBaillieGifford &CoLimit ed arelistedUKcompaniesand arenot authorised and regulated by theFinancial Conduct Authority.

Actual Investors

SCOTTISH

MORTGAGE

INVESTMENT

TRUST

We seek outlateral

thinkers to shape our

investment ideas.

Not the usual suspects.

We ignoremany opinions produced by the narrow mindset of financial

analysts and investment industry commentators. Instead we look to

academia, to authors, to experts in industry,topeopl ewho think differently.

In this wayScottish Mortgage InvestmentTrustcancontinue to build a

portfolio thatreflects real-world progress, not financial-world noise.

Pleaseremember that changing stock market conditions and currency

exchange rates will affect the value of the investment in the fund and

any income from it. Investors may not get back the amount invested.

Find out morebywatching our film at scottishmortgageit.com

AKey Information Document is available. Call 0800 917 2112.