Directorate Change

Aberforth Smaller Companies Trust plc (the “Company”)

The Board of Aberforth Smaller Companies Trust plc is pleased to announce the appointment of Richard Davidson as Chairman of the Company with effect from 28 February 2019, following the conclusion of the Annual General Meeting.

As previously announced on 25 January 2019, Paul Trickett, who had been a non-executive Director since January 2013 and Chairman since October 2014, retired as a Director of the Company at the Annual General Meeting held on 28 February 2019.

Aberforth Partners LLP, Secretaries (Tel: [phone])

1 March 2019