Schroders Capital Global Innovation Trust INOV : Auditor Resignation

Schroders Capital Global Innovation Trust plc

1 LONDON WALL PLACE LONDON EC2Y 5AU TELEPHONE 020 7658 6000

This letter is being sent to shareholders of Schroders Capital Global Innovation Trust plc, formerly known as Schroder UK Public Private Trust plc (the "Company"), as required by Section 520(2) of the Companies Act 2006.

It is for information only and no action is required.

If you have sold or transferred your shares in the Company, please forward this letter to the purchaser or transferee or to the stockbroker, bank or other party through whom you sold or transferred your shares for onward transmission to the purchaser or transferee.

17 May 2023

Dear Shareholder,

Change of Auditor

Following a competitive tender process the Company's current auditor, Grant Thornton UK LLP ('Grant Thornton'), will not be seeking reappointment at the Company's next Annual General Meeting ('AGM') to be held on 21 June 2023 and instead a resolution to appoint Ernst & Young LLP ('EY') will be proposed. EY's appointment will be subject to shareholder approval at the AGM.

Grant Thornton has been auditor to the Company for eight years and the Board was mindful that the Company would need to put out its audit to tender at ten years. The Board considered the decision to conduct a tender at this time as a matter of good corporate governance. In addition, since Schroders became Portfolio Manager in December 2019, the Board has completed its transition of the majority of its key service providers, including the registrar which will complete in June 2023. The Board felt it was an appropriate time to conduct an audit tender given there will be useful alignment benefits through the appointment of service providers that work closely with other Schroder-managed investment trusts.

Grant Thornton has ceased to be auditor to the Company with effect from 12 May 2023. Grant Thornton has deposited with the Company a statement of the circumstances connected with its ceasing to hold office, in accordance with Section 519(3) of the Companies Act 2006.

The Board considers the proposed appointment of EY as the Company's auditor to be in the best interests for the Company and its shareholders as a whole and recommends that shareholders vote in favour of the resolution as will Directors in respect of their own shareholdings.

In accordance with the Companies Act 2006, the Company is required to inform all shareholders of this change and to provide a statement of circumstances from the current auditor. The relevant documents are attached to this letter and are available on the Company's website www.schroders.com/inovand have been sent to the National Storage Mechanism, where they will be shortly available for viewing at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.A hard copy of the document can also be obtained from the Company Secretary upon request.

Yours faithfully,

Tim Edwards

Board Chair,

For and on behalf of

Schroders Capital Global Innovation Trust plc

REGISTERED IN ENGLAND NO 09405653 REGISTERED OFFICE AS ABOVE

AN INVESTMENT COMPANY UNDER SECTION 833 OF THE COMPANIES ACT 2006