Update on NAV and SpaceX valuation

Summary by AI ^BETAClose X

Baillie Gifford US Growth Trust PLC has announced an upward adjustment to the valuation of its holding in Space Exploration Technologies Corporation, resulting in a Net Asset Value of 308.89p as of 15 December 2025. This valuation change means SpaceX now represents 11.4% of the company's total assets, a significant increase from 6.0% on 30 November 2025.

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Baillie Gifford US Growth Trust PLC

16 December 2025

Baillie Gifford US Growth Trust plc ('USA')

Legal Entity Identifier: 213800UM1OUWXZPKE539

Update on Net Asset Value and adjustment to the valuation of Space Exploration Technologies Corporation ('SpaceX')

Today, the Board has been advised by the Manager of a trigger event that requires an upwards adjustment in the valuation of the Company's holding in SpaceX in line with its policy for valuing private company investments. This has been reflected in the Net Asset Value of the Company which as at close of business on 15 December 2025 stands at 308.89p.

Following that adjustment in valuation the proportion of the Company's total assets made up by SpaceX stands at 11.4% at close of business on 15 December 2025, compared with 6.0% on 30 November 2025.

Baillie Gifford & Co Limited

Company Secretaries

16 December 2025

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