<div id="readability-page-1"><div>RNS Number : 4141Q Janus Henderson Fund Mgmnt UK Ltd. 26 January 2026 JANUS HENDERSON FUND MANAGEMENT UK LIMITED26 January 2026<div><table><tbody><tr><td>Trust Name</td><td>LOWLAND INVESTMENT COMPANY PLC</td></tr><tr><td>Legal Entity Identifier</td><td>2138008RHG5363FEHV19</td></tr><tr><td>NAV Details</td><td>As at close of business on 23 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 179.0p and the net asset value per share with debt marked at fair value was 181.5p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.As at close of business on 23 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 177.9p and the net asset value per share with debt marked at fair value was 180.4p.Debt marked at fair value is the Company's estimate of the &#34;fair value&#34; of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.</td></tr><tr><td>For further information, please call:</td><td>Janus Henderson Secretarial Services UK LimitedCorporate SecretaryTelephone: 020 7818 1818</td></tr></tbody></table></div><div><table><tbody><tr><td>Trust Name</td><td>THE NORTH AMERICAN INCOME TRUST PLC</td></tr><tr><td>Legal Entity Identifier</td><td>5493007GCUW7G2BKY360</td></tr><tr><td>NAV Details</td><td>As at close of business on 23 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 397.1p and the net asset value per share with debt marked at fair value was 399.1p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.As at close of business on 23 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 393.0p and the net asset value per share with debt marked at fair value was 395.1p.Debt marked at fair value is the Company's estimate of the &#34;fair value&#34; of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant US Treasury. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.</td></tr><tr><td>For further information,please call</td><td>Janus Henderson Secretarial Services UK LimitedCorporate SecretaryTelephone: 020 7818 1818</td></tr></tbody></table></div><div><table><tbody><tr><td>Trust Name</td><td>THE BANKERS INVESTMENT TRUST PLC</td></tr><tr><td>Legal Entity Identifier</td><td>213800B9YWXL3X1VMZ69</td></tr><tr><td>NAV Details</td><td>As at close of business on 23 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 142.1p and the net asset value per share with debt marked at fair value was 145.5p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.As at close of business on 23 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 141.7p and the net asset value per share with debt marked at fair value was 145.1p.The current estimated fair value of the Company's GBP denominated unsecured loan notes is based on a discount rate calculated using the yield of a UK Gilt of a similar maturity plus a credit spread. The current estimated fair value of the Company's Euro denominated unsecured loan notes is based on a discount rate calculated using the yield of a Euro Swap of similar maturity plus a credit spread.</td></tr><tr><td>For further information, please call:</td><td>Janus Henderson Secretarial Services UK LimitedCorporate SecretaryTelephone: 020 7818 1818</td></tr></tbody></table></div><div><table><tbody><tr><td>Trust Name</td><td>HENDERSON HIGH INCOME TRUST PLC</td></tr><tr><td>Legal Entity Identifier</td><td>213800OEXAGFSF7Y6G11</td></tr><tr><td>NAV Details</td><td>As at close of business on 23 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 201.5p and the net asset value per share with debt marked at fair value was 202.4p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.As at close of business on 23 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 201.0p and the net asset value per share with debt marked at fair value was 201.9p.Debt marked at fair value is the Company's estimate of the &#34;fair value&#34; of its senior unsecured notes. The current estimated fair value of the Company's senior unsecured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread determined by the month-end difference in redemption yields between the ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the ICE BofAML 5-10 Year UK Gilt Index. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs.</td></tr><tr><td>For further information, please call:</td><td>Janus Henderson Secretarial Services UK LimitedCorporate SecretaryTelephone: 020 7818 1818</td></tr></tbody></table></div><div><table><tbody><tr><td>Trust Name</td><td>THE CITY OF LONDON INVESTMENT TRUST PLC</td></tr><tr><td>Legal Entity Identifier</td><td>213800F3NOTF47H6AO55</td></tr><tr><td>NAV Details</td><td>As at close of business on 23 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 525.5p and the net asset value per share with debt marked at fair value was 530.8p. As the Company's shares are now ex-dividend, the dividend has been deducted from the net asset value.As at close of business on 23 January 2026, the unaudited net asset value per share (excluding current financial year revenue items) was 525.5p and the net asset value per share with debt marked at fair value was 530.8p.Debt marked at fair value is the Company's estimate of the &#34;fair value&#34; of its senior secured notes. The current estimated fair value of the Company's senior secured notes is based on a discount rate calculated using the redemption yield of the relevant existing UK Gilt plus a credit spread determined by the month-end difference in redemption yields between the ICE BofAML 5-10 Year A Sterling Non-Gilt Index and the ICE BofAML 5-10 Year UK Gilt Index for the 4.53% senior secured 2029 notes, and the spread between the redemption yield of the ICE BofAML 15+ Year A Sterling Non-Gilt Index and the ICE BofAML 15+ Year UK Gilt Index for the 2.67% senior secured 2046 notes and the 2.94% senior secured 2049 notes. The discount rate is calculated and updated monthly and applied daily to determine the Company's published fair value NAVs. In addition, evidence of issues in the private placement market may be taken into consideration where spreads significantly diverge from those in the public market.</td></tr><tr><td>For further information, please call:</td><td>Janus Henderson Secretarial Services UK LimitedCorporate SecretaryTelephone: 020 7818 1818</td></tr></tbody></table></div><div><table><tbody><tr><td>Trust Name</td><td>THE EUROPEAN SMALLER COMPANIES TRUST PLC</td></tr><tr><td>Legal Entity Identifier</td><td>213800N1B1HCQG2W4V90</td></tr><tr><td>NAV Details</td><td>As at close of business on 23 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 247.1p.As at close of business on 23 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 246.5p.</td></tr><tr><td>For further information, please call:</td><td>Janus Henderson Secretarial Services UK LimitedCorporate SecretaryTelephone: 020 7818 1818</td></tr></tbody></table></div><div><table><tbody><tr><td>Trust Name</td><td>THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC</td></tr><tr><td>Legal Entity Identifier</td><td>213800NE2NCQ67M2M998</td></tr><tr><td>NAV Details</td><td>As at close of business on 23 January 2026, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items and excluding shares held in treasury) was 1,014.4p.As at close of business on 23 January 2026, the unaudited net asset value per share (excluding current financial year revenue items and shares held in treasury) was 998.2p.</td></tr><tr><td>For further information,please call:</td><td>Janus Henderson Secretarial Services UK LimitedCorporate SecretaryTelephone: 020 7818 1818</td></tr></tbody></table></div>This information is provided by RNS, the news service of the London Stock Exchange. 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Janus Henderson Fund Management UK Limited announced the unaudited net asset values (NAV) for several trusts as of January 23, 2026. The Lowland Investment Company reported an NAV per share of 179.0p (including revenue) and 177.9p (excluding revenue). The North American Income Trust had an NAV of 397.1p (including revenue) and 393.0p (excluding revenue). The Bankers Investment Trust reported 142.1p (including revenue) and 141.7p (excluding revenue). The Henderson High Income Trust had an NAV of 201.5p (including revenue) and 201.0p (excluding revenue). All values reflect the deduction of dividends as the shares are ex-dividend.

REG - Janus Henderson NAV - Net Asset Value(s)