THE MERCANTILE INVESTMENT TRUST PLC  (the 'Company')

Legal Entity Identifier: 549300BGX3CJIHLP2H42

THE COMPANY ANNOUNCES THE UNAUDITED NET ASSET VALUE (NAV) As at:  31 March 2025

THE NET ASSET VALUE PER SHARE IN PENCE, INCLUDING INCOME WITH DEBT AT FAIR VALUE:

251.36

The debt has been fair valued using discounted cash flow techniques based on the yield from a similar dated gilt plus a margin based on the 5 year average for the AA Barclays Sterling corporate bond spread

Name of contact and telephone number for queries:

Paul Ainger 0044 207 742 6524

Name of authorised company official responsible for making this notification:

Divya Amin 0044 207 742 1025 - Company Secretary

Date: 01 April 2025