9 August 2021

Schroder UK Public Private Trust plc

Investment in Revolut

Schroder UK Public Private Trust plc (the "Company") is pleased to announce it has made a $13.7m investment in the leading disruptive global neobank, Revolut Limited ("Revolut"). This represents the second new private equity investment since the appointment of Schroder Investment Management Ltd as the Company's Portfolio Manager and a clear demonstration of the continued progress towards rebalancing the portfolio.

This investment is alongside Revolut's $800m Series E funding round led by new investors, SoftBank Vision Fund 2 and Tiger Global Management, valuing the business at $33 billion. The Company has invested on the same terms as the Series E.

Revolut, the ambitious financial superapp with more than 16 million customers worldwide, plans to use the significant primary investment to further its growth plans, in particular its ongoing product innovation aimed at meeting customers' everyday financial needs and aspirations, from quick and easy global transfers, to managing everything from savings to insurance, to democratising wealth and trading. It will also support the expansion of Revolut's offering to US customers and its entry to India and other international markets.

This investment is in line with the Company's focus on backing innovative businesses founded in the UK with disruptive innovations, significant global growth potential, high quality management teams and supported by highly reputable co-investors. The Company is committed to improving its sustainability profile hence, as communicated in the Annual Report and Accounts for the year ended 31 December 2020, the Portfolio Manager intends to disclose where appropriate the United Nations' Sustainable Development Goals ("SDGs") associated with new investments. The investment in Revolut is in line with SDG 8 "Decent Work and Economic Growth" and Target 8.2 "Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors".

Tim Creed and Ben Wicks, Portfolio Managers of the Company, jointly commented: "We are delighted to announce the second new private equity investment since our appointment as Portfolio Manager. This investment, as with Tessian, is a clear statement of our intent for the Company's future strategy. We plan to back high quality, fast growth, UK businesses, with highly reputable co-investors and significant global growth potential. Revolut is the single most high-profile Fintech company to emerge from the UK offering a full range of banking services for consumers and small businesses. Across key metrics, Revolut is the clear market leader relative to its peers, placing it at the forefront of Europe's nascent Fintech revolution. We are very excited about the significant opportunity ahead of this highly-disruptive business and remain optimistic about sourcing other similarly attractive opportunities as we continue making new investments".

Enquiries:

Schroder Investment Management Limited

About Revolut - one app, all things money

Revolut is building the world's first global financial superapp to help people get more from their money. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, more than 16 million customers around the world use dozens of Revolut's innovative products to make more than 150 million transactions a month.

Across our personal and business accounts, we help customers improve their financial health, give them more control and connect people seamlessly across the world.