Page 1 of 2 | Morningstar Factsheets | All data as at 31 May 2018 unless stated otherwise

Edinburgh Dragon Trust Plc EFM

The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of these factbook pages.

Morningstar Peer Group Classification Asia Pacific - Excluding Japan

Investment Objective To provide long-term capital growth through investments in a diversified portfolio of securities in quoted companies spread across a range of industries and economies in the Asia Pacific region, excluding Japan and Australasia.

Valuation statistics (NAVs estimated1) GBX 31 May 2018 12 m High Low

Price 374.00 394.00 343.00 Fair Cum NAV 433.35 Fair Ex NAV 431.38 Par Cum NAV 433.35 Par Ex NAV 430.06 438.95 388.63 Fair Cum Discount -13.70 Fair Ex Discount -13.30 Par Cum Discount -13.70 Par Ex Discount -13.03 -9.45 -13.88 Peer Group Discount -7.48 Z-Statistic2 -1.81

Last Actual NAVs (GBX) as at 30 May 2018 Fair Cum NAV 429.26 Fair Ex NAV 427.29 Par Cum NAV 429.26 Par Ex NAV 427.29

Key Data Domicile UK Launch Date 07 Sep 1987 Financial Year-end 31 Aug Exchange London (LSE) Next AGM Dec 2018 NAV Frequency Daily Dividend Frequency Annual Total Assets (GBP) 848.9m Net Assets (GBP) 823.4m Shares Outstanding 191,443,202 Gross Gearing3 103 Net Gearing4 101 Average Daily Shares Traded (1yr) 0.271m Average Daily Value Traded (1yr) 1.018m Total Expense Ratio5 (2017) 1.03% Market Capitalisation (GBP) 716.0m Net Dividend Yield6 0.88%

Dividend Policy The fund intends to pay annual dividends

Year-on-Year Dividend Growth % (financial year 31 Aug)

2018 2017 2016 2015 20140.00 3.12 6.67 36.36 0.00

Dividend Growth % (annualised on current financial year)7

1 year 2 years 3 years 4 years 5 years0.00 1.55 3.23 10.67 8.45

Directors Allan Mckenzie (Chairman), Kathryn Langridge, Peter Maynard, Iain McLaren, Charlie Ricketts

Fund Manager: Flavia Cheong (31 Aug 2007) / Adrian Lim (31 Aug 2007) / Christopher Wong (31 Aug 2010) / Hugh Young (31 Aug 2007) Aberdeen Asset Management Asia Limited 21 Church Street, #01-01 Capital Square Two, Singapore, Singapore, 049480 Telephone: +65 (0)639 52700 Website: www.edinburghdragon.co.uk Stockbroker: Winterflood Securities Limited

Management Fee Summary Management fee is paid at a rate at 0.85% of net assets up to GBP 350 m and 0.5% of net assets exceeding GBP 350 m.

Total Return Performance (GBP) over 5 years (or since inception)

Performance (Total Return %)8 GBP

1 month 3 months 6 months 1 year YTD 3 years 5 yearsPrice +0.54 +1.08 +3.46 +7.65 -0.40 +35.66 +33.55NAV +0.94 +0.10 +4.85 +9.54 +1.80 +38.17 +43.26Peer Group (Price) +1.20 +1.68 +2.93 +9.50 +0.37 +42.45 +48.62Peer Group (NAV) +2.26 +1.51 +4.45 +10.80 +1.73 +43.19 +55.93Benchmark +2.67 +1.45 +4.52 +12.78 +1.28 +41.80 +61.77Peer Group: Morningstar IT AsiaPacific ExJapP Morningstar Benchmark: MSCI AC ASIA PACIFIC ex JAPAN Fund distributions reinvested on ex-dividend date8

Dividend Yields over 5 years (or since inception)

Distributions (GBP) over 5 years (or since inception)

Latest Dividend History (GBp)

Type Dividend Declared Date Ex Div Date Record Date Payment Date Financial YearIncome Income Income

3.3003.2003.000

02 Nov 17 03 Nov 16 03 Nov 15

23 Nov 17 17 Nov 16 19 Nov 15

24 Nov 17 18 Nov 16 20 Nov 15

15 Dec 17 16 Dec 16 18 Dec 15

2017 2016 2015

Initial Public Offering 120,000,000 Ordinary shares at 0.40 GBP on 07 Sep 1987

Page 2 of 2 | Morningstar Factsheets | All data as at 31 May 2018 unless stated otherwise

Edinburgh Dragon Trust Plc EFM

1 NAV Estimation - Fair value of debt refers to the market price of the debt if it is traded or, if it is not traded, an estimation of its value calculated using points over gilt methodology.

Cum Income NAVs include net revenue in the financial year to date. All estimates are fully diluted for the effects of warrants, convertibles or treasury shares. NAV estimations are created and maintained by Morningstar. For more detailed methodology document please contact FD.Support@morningstar.com

2 Z-Statistic 1y – Shows whether the fund’s current discount is significantly higher or lower than the average over the past year, calculated as (Current Discount – Mean) / Std Dev

3 Gross Gearing – The ratio of estimated gross Assets to the Net Assets, expressed as a percentage 4 Net Gearing – The ratio of estimated Gross Assets minus cash and fixed interest to the Net Assets, expressed as a

percentage. Cash and fixed interest represents not-equity exposure. 5 Total Expense Ratio – (Total Expenses – Performance Fees – Cost of Leverage – Tax – Restructuring Costs) /

Average Net Assets

6 Net Dividend Yield – This is calculated by dividing the current financial years dividends (this will include prospective dividends) by the current price. 7 Dividend Growth – The annualised percentage growth in dividends. Based upon the current financial year, including any future estimates or forecasts. 8 Performance – Calculated using start and end period Share Prices or NAV Dividends are reinvested on the ex-dividend date at the prevailing Share Price or NAV. 9 Risk & Return – 1 Year ex income par NAV total return performance against 1 Year NAV volatility. Please see notes 8 and 15 for performance and volatility definitions

respectively. 10 Portfolio – In order to calculate the portfolio value we deduct any holdings in cash only (Note that Fixed Interest is not included). 11 Alpha – The difference between the fund’s average excess total return and the benchmark’s average excess total return. 12 Beta – The sensitivity of the fund to broad market movements. A Beta of 0.5 would imply the fund will move by half as much as the index. 13 R-squared – A measure of correlation between the fund and index. A value of 0.8 means that 80% of the fund’s NAV changes can be explained by changes in the index. 14 Sharpe – A risk-adjusted return measure, calculated by dividing the fund’s average monthly excess total return over the risk-free rate by the standard deviation of those returns.

The figure shown is the annualized Sharpe Ratio. 15 Volatility – The annualized standard deviation of the logged daily returns, adjusting for distributions from capital.

The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of these factbook pages.

Risk & Return9

Sector Breakdown (%)

Geographic Breakdown (%)

Largest Holdings (% Portfolio10) as at 30 Apr 2018 Samsung Electronics Co Ltd Tencent Taiwan Semiconductor Manufacturing Co Oversea-Chinese Banking Corp. Ltd. AIA Group Ltd. Housing Development Finance Corp. Jardine Strategic Holdings Ltd Bank Central Asia Tbk City Developments Ltd. Siam Cement

6.2% 4.4% 4.4% 3.8% 3.3% 3.2% 3.0% 2.6% 2.3% 2.2%

Total 35.3%

Capital Structure Number of Shares Share Type 191,443,202 23,861,151

Ord 20p Treasury Shares

Loan CCY £m Redemption CouponGBP 25.5 -

Discrete Monthly Price & NAV Total Return % (GBP)

Discrete Yearly Price & NAV Total Return % (GBP)

Risk & Correlation

3 months 6 months 1 year 3 years 5 yearsAlpha (NAV) 11 -0.02 0.01 0.08 0.00 -0.11Beta (NAV)12 0.93 0.91 0.88 0.98 0.98R-squared (NAV)13 0.93 0.91 0.87 0.91 0.88Sharpe (NAV)14 0.06 0.78 1.14 0.69 0.55Price Volatility15 15 15 14 16 16NAV Volatility15 13 12 11 16 15Benchmark Volatility15 12 13 11 14 13Peer Group Price Volatility15 12 12 11 14 13Peer Group NAV Volatility15 12 11 10 14 12

Additional Performance (Total Return%8) GBX

Period Price NAV Peer Price Peer NAV Benchmark -0.40 +1.80 +0.37 +1.73 +1.282017 +25.44 +25.09 +24.62 +23.66 +25.432016 +26.42 +26.39 +29.05 +27.55 +27.702015 -10.46 -8.07 -6.73 -3.82 -3.852014 +12.51 +11.36 +11.72 +12.42 +9.512013 -7.93 -4.43 -0.50 +1.16 +1.72Since FTSE 2009 Low (13 Mar 09) +271.30 +289.22 +323.01 +324.42 +283.01Since Sub-Prime (20 Nov 07) +185.85 +176.78 +167.16 +161.59 +128.80Since FTSE 2007 Peak (13 Oct 07) +160.91 +160.31 +143.38 +143.84 +112.06

Wind-up Provisions/Buy Back Policy The Directors have taken account of the requirement to put forward a continuation resolution to the 2018 AGM and subsequent continuation resolutions will take place every 3 years thereafter.