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 4 November 2025 were:-

Excluding current year Revenue = 1,673.12p

Including ALL Revenue = 1,714.59p

ASCOT has bank debt facilities available to allow gearing of up to 10.4% of Shareholders' Funds.  Current gearing is 3.1%.  There are currently 80,387,605 Ordinary Shares of 1p in issue.

Contact: 

Michael Campbell

For and on behalf of Aberforth Partners LLP, Secretaries

Telephone: 0131 220 0733

5 November 2025