Board directions to the Investment Manager

Bellevue Healthcare Trust plc (the "Company")

Board directions to the Investment Manager

In connection with the outcome of the Company's strategic review announced on 30 October 2025, and the intended appointment (subject to shareholder approval) of Columbia Threadneedle Investments ("Columbia Threadneedle") as the Company's investment manager, the board of directors of the Company (the "Board") has issued directions to the Company's existing investment manager Bellevue Asset Management (UK) Limited (the "Investment Manager"), effective 29 October 2025, not to make new investments in stocks or assets that cannot be readily sold.

Specifically, any new investment or addition to an existing shareholding in the Company's investment portfolio must be able to be sold within five trading days without exceeding 20% of the 30-day average daily volume over each of those 5 days. The intention of these directions is to reduce the risk of any negative impact on value due to low liquidity during a portfolio transition.

The Investment Manager considers that the direction from the Board represents a material change for the purposes of the investor disclosure rules set out in FUND 3.2.2R which requires notification to investors.

Accordingly, an updated Factsheet and investor disclosure document have been made available on the Company's website at https://www.bellevuehealthcaretrust.com/. Neither the contents of the website referred to above nor the contents of any website accessible from hyperlinks on the websites (or any other website) are incorporated into, or form part of, this announcement. Attention is drawn specifically to the December 2025 update on page 4 of the Factsheet.

For further information, please contact:

LEI: 213800HQ3J3H9YF2UI82