Share Buyback Authority

F&C Investment Trust PLC

Exchange House, Primrose Street, London EC2A 2NY
Telephone +44 (0)20 7628 8000 Facsimile +44 (0)20 7628 8188
fandcit.com
An investment company within the meaning of Section 833 of the Companies Act 2006
Registered in England and Wales, Company Registration No. 12901
Registered Office: Exchange House, Primrose Street, London EC2A 2NY




10 May 2021


F&C INVESTMENT TRUST PLC

LEI: 213800W6B18ZHTNG7371



Share Buyback Authority

F&C Investment Trust PLC (the "Company") is restating the details of its current share buyback
authority.

At the annual general meeting held on 10 May 2021 the Company was granted authority to repurchase
up to 80,250,000 of its ordinary shares or, if less, 14.99% of the number of ordinary shares in issue
(excluding treasury shares) as at that date. The Company therefore announces that as at 10 May
2021 it has authority to repurchase up to 79,947,595 of its ordinary shares remaining. Unless expressly
revoked by shareholders, such authority shall expire at the conclusion of the next annual general of
the Company or on 30 June 2022 (whichever is earlier). The Board expects to renew this authority
annually and it is expected that similar announcements will be made at the time of each renewal.

Any buyback may be funded from the Company's own cash resources or, if appropriate, from short
term borrowings. The maximum price payable per share (exclusive of expenses) must not exceed the
higher of: (i) 105% of the average middle market quotations for the five business days preceding the
date of purchase; and (ii) the higher of the last independent bid and the highest current independent
bid on the London Stock Exchange. Shares repurchased will either be held in treasury or cancelled.

The Company instructs J.P. Morgan Securities plc to act as its broker in respect of its buy-back
transactions. Any buybacks will be undertaken in accordance with the Company's discount control
policy. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the
Company's general authority to repurchase shares.



Name of contact and telephone number for enquiries:

Hugh Potter
For and on behalf of BMO Investment Business Limited, Secretary
Telephone: 020 7628 8000