Update on NAV and SpaceX valuation

Summary by AI ^BETAClose X

The Schiehallion Fund Limited announced an upward adjustment to its valuation of Space Exploration Technologies Corporation ('SpaceX'), leading to a Net Asset Value of 171.72 cents as of 15 December 2025. This valuation change has increased SpaceX's proportion of the company's total assets to 14.0% from 7.5% as of 30 November 2025.

Disclaimer*

Schiehallion Fund Limited (The)

16 December 2025

The Schiehallion Fund Limited

("The Company")

Legal Entity Identifier: 213800NQOLJA1JCWXQ56

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 171.72 cents.

Following that adjustment in valuation the proportion of the Company's total assets made up by SpaceX stands at 14.0% at close of business on 15 December 2025, compared with 7.5% on 30 November 2025.

Baillie Gifford & Co Limited

16 December 2025

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