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 9 April 2018 were:-

Excluding current year Revenue = 1,467.35p

Including ALL Revenue = 1,474.80p

ASCOT has bank debt facilities available to allow gearing of up to 9.2% of Shareholders’ Funds.  Current gearing is 2.0%.  There are currently 92,109,158 Ordinary Shares of 1p in issue.

Contact:

David Holland

For and on behalf of Aberforth Partners LLP, Secretaries

Telephone: [phone]

10 April 2018