FACT SHEET – SEPTEMBER 2011

Investment objectiveHgCapital Trust plc, which was established in 1989, is an investment trust listed on the London Stock Exchange. The Trust’s objective is to provide shareholders with long-term capital appreciation in excess of the FTSE All-Share Index by investing in unquoted companies.

The Manager, HgCapital, seeks to meet the investment objective of the Trust using a business model that combines deep sector knowledge, a rigorous research-based approach and associated thematic investment origination and selection to systematically identify and repeatedly invest in the most attractive segments of the European mid-market, optimising deal flow and improving returns. In addition, the Trust has diversified into the renewable energy sector and currently holds investments in two HgCapital renewable energy funds.

Why invest?The Trust provides investors with exposure to a diversified portfolio of private equity investments primarily in the UK and Continental Europe which has delivered superior returns over the past 10 years, outperforming the FTSE All Share by 2.7x on a total return* basis. The Manager, HgCapital, has continued confidence in the ‘Thematic Investing’ strategy using sector expertise to grow industry champions and to sustain future outperformance.

Events in Q3 2011• A £15m secondary LP investment was made in Hg6 (£7.8m cash,

£7.2m commitment) in July 2011, a 2% premium to the 31 December 2010 NAV of the fund.

• A £60m commitment to the Manager’s Mercury fund has been agreed by the Board. Mercury will invest exclusively in the TMT sector in the UK and Continental Europe focusing on smaller companies with an EV of between £20m and £80m.

• The Trust has recently finalised a £40m three year standby facility with Lloyds TSB Bank plc, on an unsecured basis.

• In July, the intended sale of Mondo was announced, anticipated to complete in Q4 2011. Initial estimated proceeds of £13.7m are due with a further amount of up to £2.8m over the next two years. This compares with a carrying value of £14.7m as at 30 June 2011 and an original cost of £7m.

• In September it was announced that HgCapital had made a cash offer for Group NBT plc, the internet domain name management and web hosting firm. Completion is subject to approval by shareholders. The Trust’s share of the offer is £23.0m.

Outstanding commitmentsAs at 30 September 2011 liquid resources (excluding undrawn borrowing facilities) were £91m representing 25% of NAV, with outstanding commitments of £258m (71% of NAV).

A copy of the annual and interim reports can be found on our website www.hgcapitaltrust.com.

Net assets (as at 30 September 2011)

Ten Largest Investments £’000 %

TeamSystem 26,593 7.3

Visma 23,001 6.3

SHL 18,563 5.1

Midas(t/aGoldshield) 15,990 4.4

Frösunda 15,966 4.4

Lumesse(formerlyStepStoneSolutions) 15,931 4.4

HgRenewablePowerPartnersLP 14,419 4.0

MondoMinerals 14,407 4.0

Achilles 14,327 3.9

MainioVire 12,504 3.4

171,701 47.2

Otherinvestments 104,540 28.8

Total investments+ 276,241 76.0

Cashandotherliquidassets 90,506 24.9

Netcurrentassets (3,357) (0.9)

Net assets 363,390 100.0

+Includinginvestmentvaluationandaccruedinterest.

Perfo

rman

ce In

dex

Share price Net asset value FTSE All-Share Index

Sep-01 Sep-02 Sep-03 Sep-04 Sep-05 Sep-06 Sep-07 Sep-09 Sep-10 Sep-11Sep-08

50

100

150

200

250

300

350

450

500

400

Historical Total Return* Performance % p.a. (to 30 September 2011)

9months 1 3 5 10 toSept year years years years 2011% % %p.a. %p.a. %p.a.

NetAssetValue(basic) 4.7 22.1 5.5 13.5 13.9

NetAssetValue(diluted) 4.7 19.2 4.6 12.9 13.6

Share price 1.9 20.3 11.2 11.2 15.8

FTSEAllShareIndex (10.9) (4.4) 6.0 0.8 4.8

Share price outperformance vs FTSE All Share Index 12.8 24.7 5.2 10.4 11.0

*Totalreturnassumesalldividendshavebeenreinvested.

Totalreturn*performancerecordrebasedto100at30September2001Source:Factset.

Financial highlights (to 30 September 2011)

+15.8%Ten year compound annual growth rate of the share price on a total return* basis vs. 4.8% p.a. from the FTSE All-Share Index

+1.9% YTD share price total return* performance vs a 10.9% decrease from the FTSE All-Share Index

+4.7% YTD increase in basic NAV per share on a total return* basis (+4.7% diluted NAV)

+16% Revenue growth of the top 20 buyouts over the last twelve months

+10% Profit growth of the top 20 buyouts in the last twelve months

Cumulative Historic Performance % p.a. (total return* to 30 September 2011)

Financial highlights (to 30 September 2011) CalendarYear end 31 December Accounts published Annual: March 2012 IMS May/October 2012 Pre-close Manager’s Update December 2012

Financials as at 30 September 2011Index FTSE ALL Share Ticker Codes: Ordinary Shares HGT Subscription Shares HGTS Ordinary Shares in issue 31,799,725 Subscription Shares in issue 5,524,973 Market Capitalisation £318.0 million Net Assets £363.4 million NAV per Ordinary Share Basic 1,142.7p Diluted 1,114.2p Share Price Ordinary Shares 1,000.0p Ordinary share price discount to NAV (basic) (12.5%) Ordinary share price discount to NAV (diluted) (10.2%) Share Price Subscription Shares 93.6p Continuation Vote 2015

Subscription SharesEach subscription share entitles the holder to subscribe for one Ordinary Share at a price of £9.50 per Ordinary share at 31 October 2011 and thereafter 31 May and 31 October in 2012. The final exercise date is on 31 May 2013 at a subscription price of £10.25 per Ordinary share.

HgCapital 6 and other management fee arrangementsFor more information on the structure and fee arrangements for HgCapital Trust plc, please refer to the latest edition of the HgCapital Trust report and accounts, available at www.hgcapitaltrust.com

Board of DirectorsRoger Mountford (Chairman)

Richard Brooman (Chairman of the Audit and Valuation Committee)

Peter Gale (Deputy Chairman)

Piers Brooke

Andrew Murison

Mark Powell

ManagerHg Pooled Management Limited www.hgcapital.com

Important informationThis document is issued and approved by Hg Pooled Management Limited. Nothing in this document is intended to constitute advice and this document should not be taken as a recommendation to buy or sell shares in HgCapital Trust plc. If you are interested in HgCapital Trust plc, you should contact your financial advisor before making any investment decision. Remember that past performance is not necessarily a reliable indicator of future results, and that the value of shares can go down as well as up. HgCapital is the trading name for Hg Pooled Management Limited and HgCapital LLP, both of which are authorised and regulated by the Financial Services Authority.

BrokersRBS Hoare Govett Limited 250 Bishopsgate London EC2M 4AA

Numis Securities Ltd 10 Paternoster Square London EC4M 7LT Contact detailsHgCapital Trust plc 2 More London Riverside London SE1 2AP

T +44 (0)20 7089 7888 E laura.dixon@hgcapital.com

†Percentagesarebasedonfixedassets(excludinghedges)andaccruedinterestandareshownbyvalue

Valuation Basis†

40%Earnings

35%Cost

10%Writtendown

8%Thirdparty transaction

7%Netassets

Sector by value†

39%TMT

19%Healthcare

15%Services

12%Industrials

8%Consumer&Leisure

7%Renewableenergy

Geographic spread by value†

44%UK

24%NordicRegion

11%Germany

10%Italy

7%Europe(RPP)

4%Benelux

Deal type by value†

93%Buyout

7%Renewableenergy