BDO LLP’s Terms and Conditions on Access to the Assurance Report

You have requested access to a copy of an assurance report dated 29th June 2026 prepared by BDO LLP (the “Assurance Report”) on Baillie Gifford & Co and certain of its direct or indirect wholly owned subsidiaries (being Baillie Gifford & Co Limited, Baillie Gifford Overseas Limited and Baillie Gifford Investment Management (Europe) Limited) (together “Baillie Gifford”)’s reporting of selected information within the Positive Change Impact Report (the “Report”) for the period between 1 January 2025 to 31 December 2025. Baillie Gifford, to whom the Report is addressed, has confirmed to BDO LLP that a copy of the Assurance Report may be provided to you. BDO LLP has consented to release of the Assurance Report to you on condition that you accept and agree to the terms below. By clicking the “I Accept” button to open this document, you confirm that you have accepted and agree to the terms below (the “Terms”).

I accept and agree for and on behalf of myself and the entity I represent (each a "recipient") that:

1. BDO LLP, its members, subsidiaries and their employees and agents (individually and collectively referred to in this letter as “we” whenever the context allows) neither owe nor accept any duty, responsibility or liability to each recipient, whether in contract or in tort (including without limitation, negligence and breach of statutory duty) or howsoever otherwise arising, and each recipient hereby irrevocably and unconditionally waives any and all claims against us to the fullest extent permitted by law. Without prejudice to the generality of the foregoing, BDO LLP shall not be liable in respect of any loss, damage, cost or expense of whatsoever nature, whether direct, indirect, consequential or otherwise, which results from any use, judgments, findings, conclusions and/or reliance the recipient may choose to make in relation to the Assurance Report. The Assurance Report is provided to each recipient for information purposes only. Any and all use or reliance made or placed on the Assurance Report by the recipient is entirely at their own risk;
2. The recipient acknowledges that significant events may have occurred since the date of the Assurance Report. BDO LLP make no representations regarding the Assurance Report or the accuracy of the contents including that the information has not changed since the date of the Assurance Report;
3. Each recipient irrevocably and unconditionally agrees that it will not bring, pursue, or maintain any claim, action, proceeding or demand of any kind against BDO LLP, whether in contract, tort (including negligence), breach of statutory duty, misrepresentation or howsoever otherwise arising, which relates to or arises out of the access to, receipt of, use of, conclusions taken from, or any reliance upon the Assurance Report by a recipient;
4. The recipient hereby agrees not to refer to the Assurance Report nor allow access to it or any part derived therefrom or information obtained from it to any person or entity without BDO LLP’s prior written consent, except where strictly required by a court of law of a competent jurisdiction or applicable regulation;
5. The Assurance Report was prepared with Baillie Gifford’s interests in mind. It was not prepared with any recipient's interests in mind or for its use. The Assurance Report is not a substitute for any enquiries or independent professional advice that a recipient should make. The Assurance Report is for the period between 1 January 2025 to 31 December 2025 and therefore is based on historical information. Any projection of such information or BDO LLP’s opinion or views thereon to future periods is subject to the risk that changes may occur after the Assurance Report was issued. For these reasons, such projection of information to future periods would be inappropriate;
6. Any explanations that BDO LLP may provide to any recipient in relation to the Assurance Report are given on the same basis as those relating to the provision of the Assurance Report itself;
7. BDO LLP will be entitled to the benefit of and to enforce these Terms, and these Terms are intended to be enforceable by BDO LLP pursuant to the Contracts (Rights of Third Parties) Act 1999; and
8. These Terms and any dispute arising from them, whether contractual or non-contractual, are subject to English law and the exclusive jurisdiction of English courts. Each recipient irrevocably waives any objection to such jurisdiction on the grounds of venue or forum non conveniens.

By clicking the "I Accept" button below, you acknowledge that you have read, understood and agree to be legally bound by these terms. This constitutes a legally binding agreement between you (and the entity you represent) and BDO LLP. Access to the Assurance Report is conditional upon your acceptance of these terms. Any access to, viewing of, or use of the Assurance Report in any manner shall constitute your acceptance of and agreement to be bound by these terms, regardless of whether you have clicked the "I Accept" button.

BDO LLP, a UK limited liability partnership registered in England and Wales under number OC305127, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. A list of members' names is open to inspection at our registered office, 55 Baker Street, London W1U 7EU. BDO LLP is authorised and regulated by the Financial Conduct Authority to conduct investment business.

BDO is the brand name of the BDO network and for each of the BDO member firms.

Copyright © June 2026 BDO LLP. All rights reserved. Published in the UK. 

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