NOTICE TO SHAREHOLDERS

SNINVC plc (formerly Smithson Investment Trust plc) (In Members’ Voluntary Liquidation) (“the Company”)

Following the approval by Shareholders of the special resolutions at the general meeting held on 27 February 2026, the scheme of reconstruction and members’ voluntary winding up of the Company under section 110 of the Insolvency Act (“the Scheme”), as set out in the circular to Shareholders dated 22 January 2025 (“the Circular”), offering Shareholders a cash exit (“the Cash Option”) and/or to roll over their investment to Smithson Equity Fund (“the Fund”) (“the Rollover Option”) became effective and the Company was placed into members’ voluntary liquidation under the provisions of the Insolvency Act 1986. Richard Peter Barker and Derek Neil Hyslop of Ernst & Young LLP, both licenced insolvency practitioners, have been appointed as Joint Liquidators for this purpose. Please click here for the results of the Second General Meeting.

Terms defined in the Circular shall have the same meaning below unless otherwise stated.

In accordance with the Scheme, Shareholders who elected, or were deemed to have elected, for the Rollover Option received 15.22 new shares in the Fund (“Fund Shares”) per Ordinary Share held in the Company. Shareholders who elected for the Cash Option and Non-Qualifying Overseas Shareholders received 1,502.467042 pence per Ordinary Share held in the Company.

Shareholders who elected, or were deemed to have elected for the Rollover Option will be issued Fund Shares on 27 February 2026.

Cash entitlements to Shareholders who elected for the Cash Option, and to Non Qualifying Overseas Investors, were despatched on 13 March 2026 via CREST, cheque, or electronic bank transfer (depending on the preference made by each Shareholder prior to 10 February 2026).

Shareholders should refer to Part 4, section 6 of the Circular which sets out a general guide to certain aspects of current UK taxation law and HMRC published practice which may be relevant to receipt of the Initial Distribution. If a Shareholder is in any doubt as to their individual tax position, it is recommended that they seek advice from an independent professional advisor.

Overseas Investors

The Scheme distinguishes Overseas Investors as Qualifying or Non-Qualifying.

Shareholders who have a registered address in, or are resident in, or are citizens or nationals of Jersey, Guernsey, the Isle of Man or the Republic of Ireland (other than US Persons) (“Qualifying Overseas Investors”) were eligible to receive Fund Shares and, therefore, eligible for the Rollover Option. The default for Qualified Overseas Investors was the Rollover Option.

Non-Qualifying Overseas Investors were deemed to have elected for the Cash Option in respect of their entire holding.

Contact Details

For queries in relation to the Rollover Option or Fund Shares, please visit the Fund website (www.fundsmith.co.uk/sef), contact enquiries@fundsmith.co.uk or call 0330 123 1815 (+44 1268 448659 if calling from overseas)

For queries in relation to your shareholding in the Company, please contact the Registrar for the Company, MUFG Corporate Markets (UK) Limited, via shareholderenquiries@cm.mpms.mufg.com

0371 664 0321 (UK)

+44 (0) 371 664 0321 (International).

For any other queries in relation to the Company, please contact the Joint Liquidators at:

The Joint Liquidators 
SNINVC plc (formerly Smithson Investment Trust plc) (In Members’ Voluntary Liquidation) 
c/o EY
1 More London Place London
SE1 2AF
United Kingdom

SNINVC@parthenon.ey.com