Mission Statement, Vision, & Core Values (2026) of RIT Capital Partners plc.

Founded in 1961 and listed in the FTSE 250, RIT Capital Partners plc stands out as a long-established investment trust with a diversified global mandate and a permanent capital base that supports a patient, value-led approach; as of November 2025 its Net Asset Value per share was 2,899p with a year-to-date total return of 12.7%, underpinned by an annualized NAV total return of 10.4% since inception, while the Rothschild family remains the largest shareholder-signals of continuity and alignment with investors-built around three strategic pillars (Quoted Equities, Private Investments and Uncorrelated Strategies), a flexible mandate to seize hard-to-access opportunities, an entrepreneurial culture of independence and collaboration, and a commitment to ESG and megatrend-driven positioning that aims to deliver resilient, long-term capital growth and downside preservation

RIT Capital Partners plc (RCP.L) - Intro

• Strategic objective: Deliver long-term capital appreciation while preserving real purchasing power for shareholders.
• Governance edge: Permanent capital structure supports patient capital deployment and opportunistic repositioning.
• Shareholder alignment: Significant long-term shareholding by the Rothschild family reinforces continuity and stewardship.

• Quoted Equities: Public-market equities across regions and sectors, designed to capture long-term secular growth and value opportunities.
• Private Investments: Direct and co-investments in private companies and assets, used to access differentiated returns and illiquidity premia.
• Uncorrelated Strategies: Hedge funds, absolute-return managers and other strategies intended to reduce portfolio volatility and provide downside protection.

RIT Capital Partners plc (RCP.L) - Overview

• Annualized NAV total return since inception: 10.4% (consistent long-run performance metric cited by the company).
• Investment horizon: long-term, unconstrained by forced liquidity, enabling the holding of high-conviction positions through volatility.
• Mandate flexibility: ability to invest across equities, fixed income, private assets, hedge funds and direct investments across geographies.
• Risk framework: primary constraints are quality and risk tolerance rather than short-term liquidity needs, targeting superior risk/reward vs wider equity market.

• Permanent capital base - allows realization of investments at opportunistic times rather than being forced sellers.
• Active risk management and diversification - designed to produce resilient returns through different economic regimes.
• Focus on value assessment and downside protection - prioritizing long-term capital growth over short-term performance chasing.

RIT Capital Partners plc (RCP.L) - Mission Statement

• Partner of choice for hard-to-access funds and opportunities, leveraging a global network of managers, co-investors and strategic relationships to source high-conviction investments.
• Dynamic, opportunistic investment approach - allocating across public markets, private companies, hedge funds, real assets and credit to capitalise on the best risk-adjusted opportunities wherever they appear.
• Targeted outcome of superior long-term performance with lower downside risk than global equities - seeking capital growth through cycles with attention to downside protection.
• Positioning to benefit from structural megatrends such as technology diffusion, demographic shifts and the rise of a multi‑polar global economy.
• Commitment to responsible investing - integrating Environmental, Social and Governance (ESG) considerations into investment decision-making and stewardship activities to support sustainable financial returns.

• Diversification across asset classes and geographies to reduce correlation risk and target smoother returns through market cycles - combining public equities, private equity, credit, hedge funds and real assets.
• Concentrated, high-conviction allocations where RIT has differentiated access (e.g., top-tier private managers, selective direct investments and co-investments) to capture outsized returns.
• Active risk management focused on downside protection - position sizing, liquidity analysis, tail-risk hedging and rigorous stress-testing of portfolio exposures.
• Ongoing due diligence on ESG factors and active engagement with managers and issuers to drive long-term value and mitigate sustainability-related risks.

• Access: maintain and grow relationships with top-tier alternative managers - targeting preferential allocations and co-investment rights that can lower fees and increase net returns.
• Megatrend exposure: allocate to secular growth areas (e.g., technology diffusion, healthcare innovation, sustainable infrastructure) expected to drive multi‑year returns.
• Capital preservation: maintain liquidity and hedging capacity sufficient to manage drawdowns while seizing dislocations - target lower volatility than global equity indices over rolling five-year periods.
• ESG integration: incorporate ESG assessment into manager selection and direct investments; seek to measure and report engagement outcomes and greenhouse gas exposure over time.

RIT Capital Partners plc (RCP.L) - Vision Statement

• Entrepreneurial independence: a culture rooted in Lord Jacob Rothschild's founding principles - encouraging independent thought and active idea generation across teams.
• Integrity and stewardship: investment decisions are taken with rigorous due diligence and a shareholder-first orientation.
• Collaborative challenge: internal debate and shared intelligence foster better outcomes within a culture of trust and respect.
• Performance orientation: target superior risk/reward through diversified exposure and active risk control.
• Responsible investing: ESG integration embedded into research, stewardship and risk frameworks to promote sustainable returns.
• Flexibility: unconstrained mandate across asset classes, geographies and structures with quality and downside protection as binding constraints.

• Flexible allocation - a multi-asset approach that adjusts exposure between equities, alternatives, fixed income and cash to capture opportunities and hedge risks.
• Capital preservation - downside scenarios and stress testing embedded into position sizing and portfolio construction.
• ESG integration - stewardship voting, engagement and screening applied across public and private holdings.

• Independent board oversight with a governance framework focused on capital preservation and alignment with shareholders.
• Investment team autonomy - portfolio managers empowered to source and size positions within firm-wide risk limits.
• Active cost and capital structure management - share buybacks, discount control and cash management used pragmatically.

• Risk budgets and scenario analysis to limit concentration and tail-risk exposure.
• ESG scoring overlays on public equities and bespoke due diligence for private investments.
• Engagement and voting records monitored to ensure stewardship objectives are met while pursuing financial returns.

• Global equity selection emphasizing quality franchises with durable cashflows and margin of safety.
• Opportunistic allocation to private markets and alternatives to access idiosyncratic returns.
• Cash and hedges used actively to manage volatility and protect capital during drawdowns.