Net Asset Value(s)

THE BIOTECH GROWTH TRUST PLC

NET ASSET VALUE

The estimated un-audited net asset value per share, calculated in accordance with the guidelines of the Association of Investment Companies, for The Biotech Growth Trust PLC at the close of business on 20 January 2020 was 1054.45p (ex income) 1055.17p (cum income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

21 January 2020