1. Alliance Trust PLC 126th Annual General Meeting Alan Trotter Chief Financial Officer 1 May 2014

2. Key 2013 financial highlights Total dividends including special+12.5% Alliance Trust InvestmentsLosses reduced Alliance Trust SavingsOperating profit excluding non recurring items

3. Company financial performance Company20132012 Total Dividend (including special)+12.5%+7.0% Revenue£89.9m£80.0m Operating expenses£21.5m£18.7m Revenue profit before tax£66.7m£59.8m Ongoing charges ratio0.75%0.67%

4. New regulatory responsibilities – cumulative

5. Company financial performance Company20132012 Total Dividend (including special)+12.5%+7.0% Revenue£89.9m£80.0m Operating expenses£21.5m£18.7m Revenue profit before tax£66.7m£59.8m Ongoing charges ratio0.75%0.67%

6. Alliance Trust Investments & Alliance Trust Savings

7. Alliance Trust Investments 3rd party assets under management and advice increased by 29% to £1.8bn 142% increase in net revenue 80% of funds ranked in 1st or 2nd quartile 36% reduction in Operating loss 2013 (£m)2012 (£m) Net revenue9.23.8 Expenses(13.4)(10.4) Operating loss(4.2)(6.6)

8. Alliance Trust Savings Operating profit from continuing operations of £0.4m excluding the sale of the Full SIPP business and non–recurring RDR expenditure Assets under administration £5.4bn with 75,796 customer accounts Continuing operations2013 (£m)2012 (£m) Revenue10.99.6 Expenses(10.5)(10.0) Operating profit/(loss)0.4(0.4)

9. Important information Whilst considerable care has been taken in compiling the content of this presentation, no representation or warranty, expressed or implied, is made by Alliance Trust PLC as to its accuracy or completeness. The value of investments and the income from them may go down as well as up and are not guaranteed. The original amount invested may not be returned. Any examples are for illustration purposes only, the figures are not guaranteed and should not be relied on. Past performance is not a guide to future performance. Further information is available on our website www.alliancetrust.co.uk All figures and graphs are sourced at Alliance Trust PLC unless otherwise stated. Nothing said or covered by the presentation today should be construed as being an inducement or invitation in investment activity. No advice is given by Alliance Trust PLC. 9