RNS Number : 1437E

Montanaro European Smaller C.TstPLC

03 November 2020

Net Asset Values per share as at close of business on 02 November 2020.

The unaudited net asset values (NAVs) of the Company are noted below (where applicable) in pence per share. NAVs are calculated in accordance with stated policies. Applicable accounting standards and AIC recommendations are followed.

                                                                                                    Pence per share       Pence per share

                                                                                                    Cum Income             Ex Income

Montanaro European Smaller Companies Trust plc

LEI: 213800CWSC5B8BG3RS21                                               1,369.13                   1,366.00

03 November 2020

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