The Schiehallion Fund Limited Stock London S.E.

The Schiehallion Fund Limited is a Guernsey-based closed-ended investment company. The Company’s investment objective is to generate capital growth for investors through making long-term minority investments in later stage private businesses that the Company considers to have transformational growth potential and to have the potential to become publicly traded. The Company seeks to invest in private businesses, which have the potential to become admitted to trading on a public stock exchange. The investments would typically take the form of equity and equity-related instruments, which include, without limitation, preference shares, convertible debt instruments, equity-related and equity-linked notes and warrants. It invests in sectors, such as information technology, industrials, financials, communications services, consumer discretionary, healthcare, consumer staples and materials. Baillie Gifford & Co Limited is the investment manager of the Company.