Net Asset Value(s)

STRATEGIC EQUITY CAPITAL PLC

As at the 23 July 2015 the unaudited net asset value per Ordinary Share, including current period revenue,
was 218.98 pence.

Note: Investments in unquoted investment funds are generally held at the valuations provided by the
managers of those funds. The latest valuation for Vintage 1 Limited as at the 3rd June 2015 is included.

Dated: 24 July 2015