Directorate Change

Aberforth Smaller Companies Trust plc (the “Company”)

The Board of Aberforth Smaller Companies Trust plc is pleased to announce the appointment of Victoria Stewart as a non executive independent Director of the Company with effect from 1 September 2020.

Victoria spent twenty two years as a fund manager, joining Chiswell Investment Management in 1994 before moving to Royal London Asset Management in 1998. She was the sole manager of the Royal London UK Smaller Companies Fund from its inception in 2007, leaving in 2016 and taking up a non-executive director role with Secure Trust Bank PLC where she is chairman of the remuneration committee. Victoria has considerable experience of managing and investing in various investment vehicles and mid and small-cap listed companies and has a strong working knowledge of performance analysis and corporate governance. Victoria is also a non-executive director of Artemis Alpha Fund plc and JPMorgan Claverhouse Investment Trust plc.

She has a beneficial holding of 4,200 shares in the Company.

There are no further details required to be disclosed under Listing Rule 9.6.13.

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

28 July 2020