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 5 September 2018 were:-

Excluding current year Revenue = 1,520.10p

Including ALL Revenue = 1,543.27p

ASCOT has bank debt facilities available to allow gearing of up to 8.9% of Shareholders’ Funds.  Current gearing is 1.4%.  There are currently 90,918,811 Ordinary Shares of 1p in issue.

Contact:

David Holland

For and on behalf of Aberforth Partners LLP, Secretaries

Telephone: [phone]

6 September 2018