Net Asset Value(s)

Aberforth Smaller Companies Trust plc ("ASCOT")

The Net Asset Values ("NAVs") per Ordinary Share for the above company as at the close of business on 2 January 2026 were:-

Excluding current year Revenue = 1,693.62p

Including ALL Revenue = 1,744.54p

ASCOT has bank debt facilities available to allow gearing of up to 10.2% of Shareholders' Funds.   Current gearing is 4.8%.   There are currently 79,737,605 Ordinary Shares of 1p in issue.

Contact:  

Michael Campbell

For and on behalf of Aberforth Partners LLP, Secretaries

Telephone: [phone]

5 January 2026

---

---