REG-Fidelity Emerging Markets Ltd: Transaction in Own Shares

Fidelity Emerging MarketsAnnouncement

12/11/2025 13:00

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM, ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

12 November 2025

For Immediate Release

Fidelity Emerging Markets Limited

Transaction in own shares

and

Total Voting Rights

The Board of Fidelity Emerging Markets Limited (the "                    
Company                    ") announces that on 12 November 2025, and in
accordance with the terms of the repurchase agreement between the Company and
Strathclyde Pension Fund (administered by Glasgow City Council) ("            
        Strathclyde                    ") described in the circular to
shareholders dated 29 September 2025 (the "                     Repurchase    
               "), the Company has today repurchased for cancellation
16,441,177 participating redeemable preference shares of no par value in the
capital of the Company ("                     Shares                    ")
from Strathclyde by way of a market acquisition in accordance with section 315
of the Companies (Guernsey) Law, 2008 (as amended).

The Repurchase was undertaken at a price of 897.3412 pence per Share,
representing a 14 per cent. discount to the Company's net asset value ("      
              NAV                    ") per Share as at close of business on
11 November 2025. For the purpose of the Repurchase, the NAV per Share was
calculated cum income and with borrowings at market value. Following the
Repurchase, there will be an uplift to the NAV per Share (cum income, with
borrowings at market value) of approximately 4.5 per cent. which will be
reflected in the NAV calculated as at close of business today. All of the
Shares repurchased will be cancelled.

Upon cancellation of the Shares repurchased from Strathclyde,           the
Company's issued share capital will consist of 56,494,439 Shares, carrying one
vote each, and 1,000 Founder Shares, carrying one vote in aggregate. The
Company currently holds 9,025,940 Shares in treasury. Accordingly, upon
cancellation of the Shares repurchased from Strathclyde, the total number of
voting rights in the Company is 47,468,500.

The above figure (47,468,500) may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the Company under
the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please contact:

 Fidelity Emerging Markets Limited   Heather Manners  (Chairman)                        via FIL Investments                       
                                                                                                                                  
 FIL Investments International (Manager and Company Secretary)   George Bayer           + 44 (0)20 7961 4240                      
                                                                                                                                  
 Dickson Minto Advisers LLP (Financial Adviser)   Douglas Armstrong  Belinda Beresford  +44 (0)20 7649 6823  +44 (0)20 7649 6948  
                                                                                                                                  
 Jefferies International Limited (Broker)   Gaudi Le Roux                               +44 (0)20 7029 8000                       

 

Legal Entity Identifier (LEI): 213800HWWQPUJ4K1GS84



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