WITAN INVESTMENT TRUST PLC PORTFOLIO LISTING AS AT 31.03.2020

SECURITY % OF TOTAL INVESTMENT ORD NPV 2.53 TESCO ORD GBP0.05 2.29 APAX GBL ALPHA NPV 2.08 ALPHABET A USD0.001 1.58 CHARTER COMMUNICATIONS -A USD0.001 1.52 VONOVIA SE NPV 1.47 BLACKROCK WORLD MINING TST ORD GBP0.05 1.45 BAE SYSTEMS ORD GBP0.025 1.21 BT GRP ORD GBP0.05 1.18 SMURFIT KAPPA GRP EUR0.001 0.99 LEG IMMOBILIEN NPV 0.96 FACEBOOK A USD0.000006 0.92 LLOYDS BANKING GRP GBP0.1 0.89 PRINCESS PRIVATE EQTY HLDGS ORD EUR0.001 0.86 UNILEVER GBP0.031111 0.86 UNILEVER EUR0.16 0.85 CIGNA CORP USD0.01 0.82 ALIBABA GRP HLDGS SPON ADS EACH REP ONE ORD 0.82 CANADIAN PACIFIC RAILWAY NPV 0.81 RECKITT BENCKISER GRP GBP0.1 0.80 RIO TINTO ORD GBP0.1 0.79 UPM-KYMMENE NPV 0.79 DELTA AIR LINES USD0.0001 0.79 BAXTER INTL COM USD1 0.79 TAIWAN SEMICONDUCTOR MANUFACTURING TWD10 0.78 SCHRODER REAL ESTATE INV TST ORD NPV 0.77 KAO CORP NPV 0.75 INTERCONTINENTAL EXCHANGE GRP USD0.01 0.70 UNITEDHEALTH GRP USD0.01 0.70 ALTICE USA A USD0.01 0.69 INTL CONSOLIDATED AIRLINE EUR0.5 0.69 DIAGEO GBP28.93518 0.68 STK EXCHANGE GRP GBP0.06918605 0.66 SVENSKA HANDELSBKN A SHS NPV 0.66 ARCELORMITTAL NPV 0.65 RELX GBP0.144397 0.64 NINTENDO CO NPV 0.64 MASTERCARD A USD0.0001 0.63 ELECTRA PRIVATE EQTY GBP 0.25 0.61 LAM RESEARCH CORP COM USD0.001 0.61 THERMO FISHER SCIENTIFIC USD1 0.60 CVS HEALTH CORP USD0.01 0.60 PHILIP MORRIS INTL NPV 0.60 APPLIED MATERIALS USD0.01 0.59 INTUIT USD0.01 0.58 RAYTHEON CO USD0.01 0.58 PAYPAL HLDGS W/I USD0.0001 0.58 MONDELEZ INTL USD0.01 0.55 AIRBUS SE EUR1 0.55 HEINEKEN HLDGS EUR1.6 0.55 NESTLE REG CHF0.1 0.54 BRITISH AMER TOBACCO GBP0.25 0.53 VIVENDI EUR5.5 0.53 IMPERIAL BRANDS GBP0.1 0.52 PEPSICO USD0.017 0.51 FLUTTER ENT GBP0.09 0.50 MCKESSON CORP USD0.01 0.48 A P MOLLER-MAERSK B DKK1000 0.48 SHISEIDO CO NPV 0.48 NB DISTRESSED DEBT NPV 0.47 MICRON TECHNOLOGY USD0.1 0.46 ABBOTT LABORATORIES NPV 0.45

Please see the disclaimer at the end of this document. 1 SECURITY % OF TOTAL INVESTMENT GENERAL ELEC CAP CORP USD0.06 0.44 COCHLEAR NPV 0.44 BECTON DICKINSON & CO USD1 0.44 TAIWAN SEMICONDUCTOR MANUFACTURING 1 ADS REP 5 ORD TWD10 0.42 SONIC HEALTHCARE NPV 0.42 SAFRAN EUR0.20 0.41 COOPER COS COM USD0.10 0.41 ING GROEP NPV 0.40 PEARSON GBP0.25 0.40 UNITED CONTINENTAL HLDGS USD0.01 0.40 HONDA MOTOR CO NPV 0.40 ROYAL BANK OF SCOTLAND GRP GBP1 0.39 COGNIZANT TECH SOLUTIONS-A USD0.01 0.38 WALT DISNEY CO USD0.01 0.38 ANALOG DEVICES USD0.167 0.38 SAINSBURY (J) GBP0.285714 0.37 BASF NPV 0.37 ASTRAZENECA ORD USD0.25 0.36 AENA SME EUR10 0.35 PRUDENTIAL GBP0.05 0.35 GBP0.1 0.35 VOLKSWAGEN PFD NPV 0.35 SAMSUNG ELECTRONICS CO KRW5000 0.34 POSCO KRW5000 0.33 HARGREAVES LANSDOWN GBP0.004 0.33 BARCLAYS GBP0.25 0.33 GRP ORD GBP0.05 0.32 EASYJET GBP0.27285714 0.31 HEWLETT PACKARD ENTERPRIS WI USD0.01 0.31 LEAR CORP USD0.01 0.31 REMY COINTREAU EUR1.6 0.30 QINETIQ GRP GBP0.01 0.30 AVNET COM USD1 0.30 BREEDON GRP NPV 0.30 GBP0.025 0.30 EBAY USD0.001 0.30 NEWELL BRANDS USD1 0.30 TENCENT HLDGS HKD0.00002 0.29 VESTAS WIND SYSTEMS DKK1 0.28 FUJITSU NPV 0.28 AMER INTL GRP USD2.5 0.28 MINTH GRP HKD0.1 0.28 ROCHE HLDGS AG-GENUSSCHEIN NPV 0.27 ANRITSU CORP NPV 0.27 ORD GBP0.05 0.27 SCHRODER NON VTG ORD GBP1 0.27 IBSTOCK GBP1 0.27 HOYA CORP NPV 0.27 BANK OF AMER CORP USD0.01 0.27 ENEL EUR1 0.26 NTT DOCOMO NPV 0.26 WRLD WRESTLING ENTERTAIN A USD0.01 0.26 WM MORRISON SUPERMARKETS ORD GBP0.1 0.26 VODAFONE GRP USD0.2095 0.26 STMICROELECTRONICS EUR1.04 0.26 WELLS FARGO & CO USD1.666 0.25 EDISON INTL COM NPV 0.25 PZ CUSSONS GBP0.01 0.25 MISUMI GRP NPV 0.25 WABTEC CORP USD0.01 0.25 PERSIMMON GBP0.1 0.25 IG GRP HLDGS GBP0.00005 0.24 LENOVO GRP NPV 0.24 GBP0.5 0.24 INPEX CORP NPV 0.24

Please see the disclaimer at the end of this document. 2 SECURITY % OF TOTAL INVESTMENT ULTRA ELECTRONIC HLDGS ORD GBP0.05 0.24 PAGEGROUP GBP0.01 0.24 POLYPIPE GRP GBP0.001 0.24 PVH CORP COM USD1 0.24 BP USD0.25 0.23 HOUSING DEV FINANCE INR2 0.23 ASTELLAS PHARMA NPV 0.23 JAPAN EXCHANGE GRP NPV 0.23 GBP0.05 0.23 HALLIBURTON CO USD2.5 0.22 CITIGROUP USD0.01 0.22 SUN ART RETAIL GRP NPV 0.22 PIGEON CORP NPV 0.22 3I GRP GBP0.738636 0.22 CHINA RESOURCES LAND HKD0.1 0.22 UBS GRP CHF0.10 0.22 HSBC HLDGS USD0.5 0.22 NATL OILWELL VARCO USD0.01 0.21 ORACLE CORP USD0.01 0.21 ASHTEAD GRP GBP0.1 0.21 SCHNEIDER ELECTRIC EUR4 0.21 INTERPUBLIC GRP COS USD0.1 0.21 FORTERRA NPV 0.21 HAYS GBP0.01 0.21 AIA GRP NPV 0.21 GENUS GBP0.1 0.21 IMI GBP0.2857 0.21 SMITHS GRP GBP0.375 0.21 MYLAN EUR0.01 0.20 CAP ONE FINANCIAL CO USD0.01 0.20 GBP0.2 0.20 CHINA TOWER CORP -H CNY1 0.20 INFINEON TECHNOLOGIES NPV 0.20 MANCHESTER UNITED A USD0.0005 0.19 SHENZHOU INTL GRP HKD0.10 0.19 AMGEN USD0.0001 0.19 ORD GBP0.075555 0.19 CHINA INTL TRAVEL-A CNY1 0.19 MARSHALLS GBP0.25 0.19 CHINA MERCHANTS BANK-H CNY1 0.18 WPP GBP0.10 0.18 EUROMONEY INSTL INVESTOR GBP0.0025 0.18 BANK CENTRAL ASIA IDR62.5 0.17 HON HAI PRECISION INDUSTRY TWD10 0.17 WH GRP USD0.0001 0.17 HYUNDAI MOBIS KRW5000 0.17 KINGSPAN GRP EUR0.13 0.17 RYANAIR HLDGS EUR0.006 0.17 NOVO-NORDISK B DKK0.2 0.17 SAMSUNG ELECTRONICS CO PFD KRW5000 0.17 WILMAR INTL NPV 0.16 DAILY MAIL & GENERAL TST ORD NON VTG GBP0.125 A 0.16 GREE ELECTRIC APPLIANCES I-A CNY1 0.16 DELIVERY HERO NPV 0.16 HDFC BANK 1 ADS REP 3 INR10 0.16 CHINA RESOURCES POWER HLDGS NPV 0.16 GLOBE TELECOM PHP50 0.16 GBP0.25 0.16 GLAXOSMITHKLINE ORD GBP0.25 0.16 HKBN HKD0.0001 0.16 SAP NPV 0.16 BGF RETAIL CO NPV 0.15 PFIZER USD0.05 0.15 BREVILLE GRP NPV 0.15 STANDARD CHARTERED USD0.5 0.15

Please see the disclaimer at the end of this document. 3 SECURITY % OF TOTAL INVESTMENT GUANGDONG INVEST NPV 0.15 NVIDIA CORP USD0.001 0.15 BANDAI NAMCO HLDGS NPV 0.15 KATITAS CO NPV 0.14 STANLEY BLACK & DECKER USD2.5 0.14 LG CHEM KRW5000 PREF 0.14 CHINA MOBILE NPV 0.14 KEPPEL DC REIT NPV 0.14 GRP GBP0.020667 0.14 MORGAN STANLEY USD0.01 0.14 ASML HLDGS EUR0.09 (POST SPLIT) 0.14 JOHNSON SERVICE GRP ORD GBP0.10 0.14 KONINKLIJKE KPN EUR0.04 0.14 NETLINK NBN TST NPV 0.14 MERCADOLIBRE COM USD0.001 0.13 SUMITOMO MITSUI FINANCIAL GRP NPV 0.13 VISA A SHS USD0.0001 0.13 THAI BEVERAGE THB1 0.13 GBP0.5 0.13 ZHONGSHENG GRP HLDGS HKD0.0001 0.13 DOLLAR TREE COM USD0.01 0.13 LIXIL GRP CORP NPV 0.13 ORIENTAL LAND CO JPY50 0.13 S.O.I.T.E.C. EUR2 0.13 AUTOZONE USD0.01 0.13 SHINHAN FINANCIAL GRP KRW5000 0.12 CLARKSON GBP0.25 0.12 CLOSE BROTHERS GRP GBP0.25 0.12 TDK CORP NPV 0.12 CHINA EDUCATION GRP HOLDIN HKD0.00001 0.12 SONY CORP NPV 0.12 ELECTRONIC ARTS USD0.01 0.12 EQUITABLE HLDGS USD0.01 0.12 ROYAL DUTCH SHELL A SHS EUR0.07 0.12 RELIANCE INDST INR10 0.12 GBP0.04832911 0.12 EDENRED EUR2 0.12 CHINA EAST EDUCATION HLDGS HKD0.0001 0.11 DEUTSCHE LUFTHANSA REG NPV 0.11 BELLSYSTEM24 HLDGS NPV 0.11 EIKEN CHEMICAL CO NPV 0.11 INFOSYS INR5 0.11 AIR LIQUIDE EUR5.5 0.11 BOOKING HLDGS USD0.008 0.11 GBP0.1 0.11 QUILTER GBP0.01 0.11 MANI NPV 0.11 YUEXIU TRANSPORT INFRASTRUCTURE HKD0.10 0.11 EXXON MOBIL CORP NPV 0.11 ORANGE EUR4 0.11 HON HAI PRECISION SPON GDS EACH REP 2 SHS TWD 0.11 ANGLO AMER USD0.54945 0.10 NOVOZYMES B SHS DKK2 0.10 SANNE GRP GBP0.01 0.10 EMIS GRP ORD GBP0.01 0.10 JD SPORTS FASHION ORD GBP0.0025 0.10 MINDA INDST INR2 0.10 MELROSE INDST ORD GBP0.06857143 0.10 UNITED TRACTORS IDR250 0.10 GOLDMAN SACHS GRP USD0.01 0.10 NATL GRID ORD GBP0.12431289 0.10 POLYUS PUBLIC JOINT STK COMPANY GDR (EACH REPR 0.5 SHS) 0.10 ESTEE LAUDER COS A USD0.01 0.10 SAIGON BEER ALCOHOL BEVERAGE VND10000 0.10 AVIVA ORD GBP0.25 0.10

Please see the disclaimer at the end of this document. 4 SECURITY % OF TOTAL INVESTMENT NAM LONG INVST CORP VND10000 0.10 SBERBANK RUB3 0.10 NCC GRP ORD GBP0.01 0.10 WH SMITH GBP0.2209 0.09 CREDIT SUISSE GRP REG CHF0.04 0.09 BEIJING CAP INTL AIRPO H CNY1 0.09 ASCENDAS INDIA TST NPV 0.09 WETHERSPOON (J.D.) GBP0.02 0.09 CAPITALAND RETAIL CHINA TST NPV 0.09 888 HLDGS GBP0.005 0.09 KERING EUR4 0.09 GRIFOLS EUR0.25 0.09 INFOSYS 1 ADR REP 1 INR5 0.09 JIANGSU HENGRUI MEDICINE -A CNY1 0.09 KWEICHOW MOUTAI CO A CNY1 0.09 RESTORE GBP0.05 0.09 ADVANCE AUTO PARTS COM USD0.01 0.08 HEADLAM GRP ORD GBP0.05 0.08 YARA INTL NOK1.7 0.08 SENIOR GBP0.1 0.08 TATA CONSULTANCY SVCS INR1 0.08 GBP0.17273 0.08 BANK RAKYAT IDR250 0.08 M&G GBP0.05 0.08 KWEICHOW MOUTAI C/WTC 02/09/19 USD 0.08 UNICREDIT NPV (POST REV SPLIT) 0.08 WULIANGYE YIBIN CO-A C/WTS 13/11/19 USD 0.08 STK SPIRITS GRP GBP0.10 0.08 FUYAO GLASS INDUSTRY GRP H CNY1 0.08 KOTAK MAHINDRA BANK INR5 0.08 WULIANGYE YIBIN CO -A CNY1 0.08 ASCENDAS REIT NPV 0.08 SMITH & NEPHEW ORD USD0.2 0.08 EUROFINS SCIENTIFIC EUR0.1 0.08 ESSILOR LUXOTTICA ORD EUR0.18 0.07 NOVARTIS REG CHF0.50 0.07 CP ALL THB1 (ALIEN MRKT) 0.07 G-W/I GBP0.0125 0.07 CHINA STEEL CHEMICAL CORP TWD10 0.07 GRP ORD GBP0.025 0.07 RANK GRP GBP0.1388889 0.07 SEA ADS EACH REP ONE CL A SHS 0.07 LEGRAND EUR4 0.07 LUKOIL PJSC RUB0.025 0.07 SHERBORNE INVESTORS GUERN B NPV 0.07 SGS REG CHF1 0.07 ASSA ABLOY AB-B SEK1 0.07 YANDEX USD0.01 0.07 GRAFTON GRP UTS EUR0.05 0.07 NIFCO NPV 0.07 MMC NORILSK NICKEL ADR EACH REPR 1/10 SHS (SPONS) 0.07 INTESA SANPAOLO EUR0.52 0.07 ORPEA EUR1.25 0.07 MARUTI SUZUKI INDIA INR5 0.06 JXTG HLDGS NPV 0.06 DEUTSCHE BANK (REG) NPV 0.06 GOLDEN OCEAN GRP USD0.05 0.06 TOTAL EUR2.5 0.06 MACQUARIE KOREA INFRA FUND KRW NPV 0.06 WAL-MART STORES USD0.1 0.06 MONOLITHIC POWER SYSTEMS USD0.001 0.06 OMNICOM GRP COM USD0.15 0.06 SEB EUR1 0.06 EPAM SYSTEMS COM USD0.001 0.06 MITSUBISHI PENCIL CO NPV 0.06

Please see the disclaimer at the end of this document. 5 SECURITY % OF TOTAL INVESTMENT SUEZ EUR4 0.06 CLP HLDGS NPV 0.06 THIEN LONG GRP CORP VND10000 0.06 NEW ORIENTAL EDUCA SPONS ADR EA REP 1 ORD SHS 0.05 GIVAUDAN REG CHF10 0.05 DISCO CORP JPY50 0.05 SIEMENS AG-REG NPV 0.05 VIETNAM DAIRY PRODUCTS JSC VND10000 0.05 ISUZU MOTORS JPY50 0.05 DEUTSCHE BOERSE NPV (REG) 0.05 BUREAU VERITAS EUR0.12 0.05 BAWAG GRP NPV 0.05 SDL ORD GBP0.01 0.05 BAYER REG NPV 0.05 MEARS GRP ORD GBP0.01 0.04 CONVATEC GRP WI NPV 0.04 STARBUCKS CORP USD0.001 0.04 SPEEDY HIRE ORD GBP0.05 0.04 COMMERZBANK NPV 0.04 JPMORGAN CHASE & CO USD1 0.04 VITEC GRP GBP0.2 0.04 SIGNATURE AVIATION GBP0.37202380 0.04 SHERBORNE INVESTORS GUERNSEY NPV 0.04 AROUNDTOWN NPV 0.04 STROEER SE NPV 0.04 KUEHNE & NAGEL INTL REG CHF1 0.04 CAFE DE CORAL HLDGS HKD0.1 0.04 SPIE EUR0.47 0.04 NOKIAN RENKAAT OYJ NPV 0.04 WIRECARD NPV 0.04 BRAVIDA HLDGS SEK0.02 0.04 EQUINOR ASA NOK2.5 0.03 ALIBABA GRP HLDGS USD0.000003125 0.03 EQUINITI GRP NPV 0.03 BRENNTAG NPV 0.03 WOLTERS KLUWERS EUR0.12 0.03 HUANENG LANCANG RIVER HYDR-A CNY1 0.03 FINECOBANK NPV 0.03 PROSUS EUR0.05 0.03 COOR SERV MGMT HLDGS SEK1 0.03 DCC EUR0.25 0.03 JD.COM ADS EA REPR 2 COM A SHS 0.03 KION GRP NPV 0.03 ATEA NOK1.0000 0.03 ALIBABA HEALTH INFORMATION T HKD0.01 0.03 TIETO NPV 0.03 TRELLEBORG B SHS NPV 0.02 DUSTIN GRP SEK5 0.02 S&T NPV 0.02 BUNZL GBP0.3214286 0.02 INTERTRUST EUR0.6 0.02 SULZER REG CHF0.01 0.02 SIEMENS HEALTHINEERS NPV 0.02 SK TELECOM KRW500 0.02 UDG HEALTHCARE EUR0.05 0.02 VALLOUREC EUR2 0.02 AURELIUS NPV 0.02 LVMH MOET HENNESSY LOUIS VUI EUR0.3 0.02 TGS NOPEC GEOPHYSICAL COM NOK0.25 0.02 DEUTSCHE POST REG NPV 0.02 MEITUAN DIANPING-CLASS B USD0.00001 0.02 VAN LANSCHOT KEMPEN EUR1 0.02 B&S GRP - WI NPV 0.02 STABILUS EUR0.01 0.02 TENCENT HLDGS -UNS ADR NPV 0.01

Please see the disclaimer at the end of this document. 6 SECURITY % OF TOTAL INVESTMENT PING AN INSURANCE GRP H CNY1 0.01 TKH GRP CVA EUR0.25 0.01 RELIANCE INDST GDR REP 2 ORD INR10 144A 0.01 GLOBALWORTH REAL ESTATE INVE NPV 0.01 HOWDEN JOINERY GRP GBP0.1 0.01 INTL WORKPLACE GROU NPV 0.01 CANCOM NPV 0.01 PREMIER OIL GBP0.125 0.01 FOSHAN HAITIAN FLAVOURING & FOOD -A CNY1 0.01 SEADRILL NPV 0.01 CHINA CONSTRUCTION BANK H CNY1 0.00* HEINEKEN EUR1.6 0.00* QUALCOMM USD0.0001 0.00* BANGKOK DUSIT MED SERVICE - F THB0.1 (ALIEN MKT) 0.00* SINGAPORE TECH ENGINEERING NPV 0.00* RUMO NPV 0.00* SHANGHAI INTL AIR-A C/WTS 23/04/20 USD 0.00* AMAZON.COM USD0.01 0.00* LANCER OFFSHORE ORD SHS 0.00*

OPEN-ENDED FUNDS GMO INVSTS ICAV CLIMATE CHANGE INVST A GBP ACC 1.05

TOTAL 100.00 *Constitutes less than 0.005% of total investment

Disclaimer Witan Investment Services, 14 Queen Anne's Gate, London SW1H 9AA. This document may not be reproduced in any form without the express permission of Witan Investment Services Limited and to the extent that it is passed on care must be taken to ensure that this reproduction is in a form which accurately reflects the information presented here. Whilst Witan Investment Services Limited believe that the information is correct at the date of production, no representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions in this document by any of Witan Investment Services Limited

Please see the disclaimer at the end of this document. 7