Closed Period

Manchester and London Investment Trust plc (the “Company”)

The Company confirms that it has entered into a closed period on 4 March 2018 (in accordance with the provisions of the EU Market Abuse Regulation) in relation to the announcement of the Company’s results for the half year ended 31 January 2018.

The Company further confirms that all inside information which the Directors and the Company may have had to the date of this announcement has been notified to a Regulatory Information Service. Accordingly, in the absence of any new undisclosed inside information arising, the Company is not prohibited from dealing in its own securities during this closed period.

5 March 2018

LEI: 213800HMBZXULR2EEO10