Witan Investment Trust PLC — AGM Information 2016

May 26, 2016

RESOLUTIONS OF WITAN INVESTMENT TRUST PLC

Passed on Thursday 26 May 2016

Registered Number: 101625

THE COMPANIES ACT 2006 COMPANY LIMITED BY SHARES

RESOLUTIONS

OF

WITAN INVESTMENT TRUST PLC

Passed on Thursday 26 May 2016

At a General Meeting duly convened and held on Thursday 26 May 2016, the following resolutions were duly passed:

AS AN ORDINARY RESOLUTION:

1. THAT the related party transaction with Friends Life on the terms summarised in paragraph 2 of the Chairman's Letter on page 2 and in Part IV on page 7 of the circular be approved for the purposes of Chapter 11 of the Listing Rules of the Financial Conduct Authority.

AS A SPECIAL RESOLUTION:

$2.$ THAT the Company be and is hereby generally and unconditionally authorised to undertake a market acquisition of up to Friends Life's entire holding of 31,636,753 Shares, such authority to be separate and in addition to the Company's authority to repurchase its own Shares granted at the Company's Annual General Meeting.

cano Canne

Eleanor Cranmer For and on behalf of Frostrow Capital LLP Secretary to Witan Investment Trust plc