Strategic Review

13 February 2026

For immediate release

European Opportunities Trust PLC

Legal Entity Identifier (LEI): 549300XN7RXQWHN18849

Strategic Review

The Board of European Opportunities Trust PLC (the "Company") today announces that it has begun a Strategic Review of the future of the Company, including ongoing investment management arrangements.

Over the last three years, the Board has been pro-active in seeking to take steps to enhance shareholder value. These include share buybacks, two substantial tender offers, and, with the co-operation of the investment manager, measures to lessen the costs of ownership through two management fee reductions. However, the Board acknowledges the ongoing performance challenges and consider that it is likely that the Company will not meet the performance condition under the performance-related tender offer scheduled for later this year. The Board is also cognisant of the three-yearly continuation vote to be held at this year's Annual General Meeting.

Having consulted with a number of the Company's major shareholders, the Board has concluded that it is appropriate to conduct a Strategic Review of the future of the Company. Under the review the Board, together with its advisers, will pro-actively consider a number of strategic options. These may include a possible combination with another closed-ended fund by means of a scheme of reconstruction pursuant to section 110 of the Insolvency Act 1986, a cash exit at close to NAV and an outline proposal which has been received from River Global, Devon Equity Management's parent company, in respect of a roll-over into a proposed open-ended investment company with a similar investment policy to that of the Company. Through the Strategic Review, the Board will consider the merits of these options for shareholders in isolation or a combination thereof.

There is no certainty that any changes will result from the Strategic Review. The Board will make further announcements in due course.

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Important Information

This announcement contains information that is inside information for the purposes of the Market Abuse Regulation (EU) No 596/2014 as implemented in the UK. The person responsible for arranging for the release of this announcement on behalf of the Company is Matthew Dobbs, Chairman.