Directorate Change

Aberforth Smaller Companies Trust plc (the "Company")

The Board of Aberforth Smaller Companies Trust plc is pleased to announce the appointment of Mrs Patricia Dimond as an independent non-executive Director of the Company and member of its Audit Committee with effect from 3 March 2022, upon conclusion of the Annual General Meeting.

Mrs Dimond is a non-executive director and audit chair of LXi REIT Plc, and a non-executive director of Foresight VCT Plc.  She is a trustee of the English National Opera and the National Academy for Social Prescribing. Mrs Dimond has had an international career with over 30 years in the consumer, retail and financial sectors.  As an industry executive or strategic advisor she has worked with FTSE 100, Private Equity and Founder/owner managed companies with a focus on finance, strategy and corporate governance. She is a McKinsey & Company alumna, CFA charter holder, has an MBA from IMD Switzerland and qualified as a chartered accountant with Deloitte, Haskins & Sells.

As previously announced on 28 January 2022, Mrs Paula Hay-Plumb, who has been an independent non-executive Director since January 2014, retired as a Director of the Company at the Annual General Meeting held on 3 March 2022. Paula has been a valued member of the Board and the Audit Committee.

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

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

3 March 2022

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