Directorate Change

Aberforth Smaller Companies Trust plc (the "Company")

Directorate Change and Audit Committee appointments

As previously announced on 27 January 2023, Julia Le Blan, who has been a non-executive Director for nine years, retired as a Director of the Company and Chair of its Audit Committee at the conclusion of the Annual General Meeting held on 2 March 2023.

With effect from 2 March 2023, Patricia Dimond, a current member of the Audit Committee, has been appointed Chair of the Audit Committee and Jaz Bains has been appointed as a member of the Audit Committee. Both appointees are existing independent non-executive Directors of the Company.

Aberforth Partners LLP, Secretaries (Tel: [phone])

2 March 2023

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