Statement re Closed Period

Aberforth Smaller Companies Trust plc

Closed Period Notification

In accordance with the Market Abuse Regulation, Aberforth Smaller Companies Trust plc (the Company) announces that with effect from today, 28 December 2016, it will enter into a closed period which will remain in place until the Company releases its financial results for the year ending 31 December 2016.

However, the Company is satisfied that any information which the Directors or the Company may have during the closed period has been notified to a Regulatory Information Service. The Company is therefore not prohibited from repurchasing its own ordinary shares during this closed period.

Aberforth Partners LLP, Secretaries

28 December 2016