Net Asset Value(s)

Invesco Perpetual UK Smaller Companies Trust plc                                                 
                                                                                                 
As at close of business on 28-June-2017                                                          
                                                                                                 
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                                 
                                                                                                 
EXCLUDING undistributed current year revenue                                491.49p              
                                                                                                 
INCLUDING current year revenue                                              498.01p              
                                                                                                 
The fair value of debt is not materially different from the carrying value.                      
                                                                                                 
The NAV includes a provision for any performance fee applicable.                                 
                                                                                                 
The above NAVs are those of the Continuing shares, and are after deducting the                   
fixed costs of the Tender Offer and taking into account the exit charge                          
calculated as 1.5% of the Tender Offer Formula Asset Value (which is applied                     
for the benefit of the Continuing shareholders).                                                 
                                                                                                 
LEI: 549300K1D1P23R8U4U50