Portfolio Holdings as at 31 December 2016

THE EUROPEAN INVESTMENT TRUST PLC

PORTFOLIO HOLDINGS AS AT 31 DECEMBER 2016

Rank	Company	Sector	Country	% of  Net Assets
1	PostNL	Industrials	Netherlands	4.6
2	Royal Dutch Shell A	Oil & Gas	Netherlands	4.0
3	Total	Oil & Gas	France	3.7
4	BNP Paribas	Financials	France	3.5
5	Novartis	Health Care	Switzerland	3.5
6	ENI	Oil & Gas	Italy	3.5
7	Petroleum Geo-Services	Oil & Gas	Norway	3.4
8	Sanofi	Health Care	France	3.3
9	Bayer	Basic Materials	Germany	3.2
10	Roche*	Health Care	Switzerland	3.2
11	Stora Enso	Basic Materials	Finland	3.1
12	Adecco	Industrials	Switzerland	3.1
13	DNB	Financials	Norway	3.0
14	Telefonica	Telecommunications	Spain	3.0
15	BBVA	Financials	Spain	2.9
16	Ubisoft Entertainment	Consumer Goods	France	2.9
17	Ryanair	Consumer Services	Ireland	2.8
18	ING	Financials	Netherlands	2.7
19	Airbus	Industrials	France	2.6
20	Michelin	Consumer Goods	France	2.6
21	Nokia	Technology	Finland	2.6
22	Delta Lloyd	Financials	Netherlands	2.5
23	Telecom Italia	Telecommunications	Italy	2.5
24	Leoni	Industrials	Germany	2.5
25	DIA	Consumer Services	Spain	2.4
26	Siemens	Industrials	Germany	2.4
27	Rocket Internet	Financials	Germany	2.3
28	BB Biotech	Health Care	Switzerland	2.3
29	Commerzbank	Financials	Germany	2.3
30	E.ON	Utilities	Germany	2.3
31	Outotec	Industrials	Finland	2.2
32	SKF	Industrials	Sweden	2.1
33	Danske Bank	Financials	Denmark	2.1
34	Gemalto	Technology	Netherlands	2.0
35	Ipsos	Consumer Services	France	1.9
36	TDC	Telecommunications	Denmark	1.8
37	Piaggio	Consumer Goods	Italy	1.4
	Total equity investments			102.2
	Cash and other net liabilities			(2.2)
	Net assets			100.0
	* The investment is in non-voting shares

GEOGRAPHICAL DISTRIBUTION

31 December 2016	% of Net Assets
France	20.5
Netherlands	15.8
Germany	15.0
Switzerland	12.1
Spain	8.3
Finland	7.9
Italy	7.4
Norway	6.4
Denmark	3.9
Ireland	2.8
Sweden	2.1
Cash and other net liabilities	(2.2)
	100.0

SECTOR DISTRIBUTION

31 December 2016	% of Net Assets
Financials	21.3
Industrials	19.5
Oil & Gas	14.6
Health Care	12.3
Telecommunications	7.3
Consumer Services	7.1
Consumer Goods	6.9
Basic Materials	6.3
Technology	4.6
Utilities	2.3
Cash and other net liabilities	(2.2)
	100.0

As at 31 December 2016, the net assets of the Company were £389,277,000.

16 January 2017

Enquiries:

Kenneth Greig
Edinburgh Partners AIFM Limited
Tel: [phone]

The Company’s registered office address is:

Beaufort House
51 New North Road
Exeter
EX4 4EP