INTERNATIONAL BIOTECHNOLOGY TST PLC

Capital/Financing Update • Dec 12, 2022

National Storage Mechanism | Additional information

RNS Number : 4226J

Intl. Biotechnology Trust PLC

12 December 2022

INTERNATIONAL BIOTECHNOLOGY TRUST PLC

("IBT" or the "Company")

Portfolio Update as at 12 December 2022

The Company notes that Amgen Inc (AMGN) has announced that it entered a definitive agreement to acquire IBT's portfolio company Horizon Therapeutics (HZNP) for $116.50 per share which represents a 47.9% premium to the closing price of Horizon on 29 November 2022 (being the last closing price per Company Share prior to the Company's issuance of an announcement of a possible offer under Rule 2.4 of the Irish Takeover Rules). The bid price in today's announcement represents a premium of 19.7% to the closing price as at 9 December 2022 of $97.29.

Prior to the announcement on 12 December 2022, IBT owned 479,973 shares in Horizon which represents 13.5% of IBT's Net Asset Value, as at the close on Friday 9 December.

For further information contact:

Company Secretary - Link Company Matters

Indu Shastri       +44 (0)7936 045789

LEI: 213800N1QUJ744P76D11

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

PFUBSBDDBDBDGDD