<div id="readability-page-1"><div>RNS Number : 2587C Merchants Trust PLC 06 October 2025 <div><table><tbody><tr><td>THE MERCHANTS TRUST PLCLEI: 5299008VJFXCUD2EG312</td><td></td><td></td></tr><tr><td colspan="3">TOP 10 HOLDINGS AS AT 30 SEPTEMBER 2025</td></tr><tr><td></td><td>Market Value</td><td> %</td></tr><tr><td></td><td>£</td><td></td></tr><tr><td>GSK Plc</td><td>52,178,100</td><td>5.20</td></tr><tr><td>Lloyds Banking Group Plc</td><td>50,582,518</td><td>5.04</td></tr><tr><td>British American Tobacco Plc</td><td>36,500,500</td><td>3.64</td></tr><tr><td>Shell Plc</td><td>35,085,960</td><td>3.50</td></tr><tr><td>Rio Tinto Plc</td><td>33,479,375</td><td>3.34</td></tr><tr><td>BP Plc</td><td>29,956,509</td><td>2.99</td></tr><tr><td>Barclays Plc</td><td>29,039,400</td><td>2.90</td></tr><tr><td>DCC Plc</td><td>27,796,900</td><td>2.77</td></tr><tr><td>SSE Plc</td><td>27,072,550</td><td>2.70</td></tr><tr><td>National Grid Plc</td><td>25,521,694</td><td>2.55</td></tr><tr><td>Total Gross Assets</td><td>1,002,738,854</td><td></td></tr><tr><td colspan="3"></td></tr><tr><td colspan="3"></td></tr></tbody></table></div><div><table><tbody><tr><td></td><td colspan="5">Geographical Distribution as at 30 SEPTEMBER 2025</td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2"></td><td>VALUE</td><td></td><td></td><td>%</td></tr><tr><td colspan="2">UNITED KINGDOM</td><td>944,413,394</td><td></td><td></td><td>96.62</td></tr><tr><td colspan="2">EUROPE EX UK</td><td>33,069,457</td><td></td><td></td><td>3.38</td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">Investments</td><td>977,482,851</td><td></td><td></td><td>100.00</td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">Europe ex UK</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">France</td><td>33,069,457</td><td></td><td></td><td>3.38</td></tr><tr><td colspan="2">Spain</td><td>0</td><td></td><td></td><td>0.00</td></tr><tr><td colspan="2"></td><td>33,069,457</td><td></td><td></td><td>3.38</td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">United Kingdom</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">UK</td><td>944,413,394</td><td></td><td></td><td>96.62</td></tr><tr><td colspan="2"></td><td>944,413,394</td><td></td><td></td><td>96.62</td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">TOTAL stock value</td><td>977,482,851</td><td></td><td></td><td>100.00</td></tr><tr><td colspan="2"></td><td></td><td></td><td></td><td></td></tr></tbody></table></div><ul><li>Enquiries:</li><li>Nira Mistry</li><li>Company Secretary</li><li>Tel: 020 3246 7475</li><li>6 October 2025</li></ul>This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END MSCEASEKELLSFFA</div></div>

GSK.WI

Merchants Trust PLC has released its top 10 holdings and geographical distribution as of September 30, 2025. The top holdings include GSK Plc (5.20%), Lloyds Banking Group Plc (5.04%), and British American Tobacco Plc (3.64%). The total gross assets amount to £1,002,738,854, with 96.62% of investments in the United Kingdom and 3.38% in Europe excluding the UK. The total stock value is £977,482,851.

REG - Merchants Trust. - Top 10 holdings & Geographical distribution