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 13 November 2025 were:-

Excluding current year Revenue = 1,657.90p

Including ALL Revenue = 1,704.15p

ASCOT has bank debt facilities available to allow gearing of up to 9.7% of Shareholders' Funds.  Current gearing is 2.4%.  There are currently 80,252,605 Ordinary Shares of 1p in issue.

Contact: 

Michael Campbell

For and on behalf of Aberforth Partners LLP, Secretaries

Telephone: 0131 220 0733

14 November 2025