Net Asset Value(s)

Invesco Perpetual UK Smaller Companies Trust plc                                    
                                                                                    
As at close of business on 30-June-2017                                             
                                                                                    
NAV per Ordinary share (unaudited) with Debt at Par & Fair Value                    
                                                                                    
EXCLUDING undistributed current year revenue                                490.17p 
                                                                                    
INCLUDING current year revenue                                              496.71p 
                                                                                    
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).                                    
                                                                                    
In addition, the unaudited Net Asset Value of the Tender Pool as at the close       
of business on the date above divided by the number of shares validly tendered      
was 490.27p, and includes the 1.5% exit charge, portfolio realisation costs to      
date, and ongoing charges incurred to date.  The cash and cash equivalents at       
that date represented 86.3 per cent. of the Tender Pool.                            
                                                                                    
LEI: 549300K1D1P23R8U4U50                                                           
                                                                                    
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