| THE MERCANTILE INVESTMENT TRUST PLC (the 'Company') |
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| Legal Entity Identifier: 549300BGX3CJIHLP2H42 |
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| THE COMPANY ANNOUNCES THE TEN LARGEST INVESTMENTS IN % OF TOTAL ASSETS As at: 31 December 2025 |
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| Serco Group Plc |
4.1% |
| Intermediate Capital Group Plc |
3.6% |
| Bellway Plc |
3.6% |
| Plus500 |
3.3% |
| Balfour Beatty Plc |
3.2% |
| Cranswick Plc |
3.2% |
| Ig Group Holdings Plc |
3.1% |
| Dunelm Group Plc |
2.6% |
| Bank Of Georgia Plc |
2.5% |
| Softcat Plc |
2.5% |
| Total |
31.6% |
| Excludes Investments in Liquidity stocks |
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| Name of contact and telephone number for queries: |
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| Paul Ainger 0044 207 742 6524 |
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| Name of authorised company official responsible for making this notification: |
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| Sachu Saji 0800 20 40 20 - Company Secretary |
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| Date: 13 January 2026 |
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