JANUS HENDERSON FUND MANAGEMENT UK LIMITED

THE EUROPEAN SMALLER COMPANIES TRUST PLC

Legal Entity Identifier:  213800N1B1HCQG2W4V90

24 June 2025

THE EUROPEAN SMALLER COMPANIES TRUST PLC

(the "Company")

Cash Exit Tender Offer Final Asset Value

and Cash Exit Tender Price

Further to the announcement on 20 May 2025, the Board confirms that all the assets in the Cash Exit Pool have been fully realised. The Cash Exit Pool Determination Date was 19 June 2025 and, as at that date, the Cash Exit Tender Offer Final Asset Value was £108,455,353, which results in a Tender Price per Cash Exit Share of 213.80 pence.

Winterflood will, as principal, on the terms and subject to the conditions of the Tender Offer, purchase the 50,726,953 Cash Exit Shares at the Tender Price in the market and then sell such Cash Exit Tender Shares to the Company at the Tender Price in accordance with the relevant Repurchase Agreement, with this expected to happen on or around 27 June 2025. All of the 50,726,953 Cash Exit Shares repurchased will be held in treasury.

It is expected that payments in respect of Cash Exit Shares held in uncertificated form will be made in CREST on 4 July 2025 and that cheques will be dispatched on 4 July 2025 in respect of Cash Exit Shares held in certificated form.

Defined terms used in this announcement shall, unless the context requires otherwise, have the meanings ascribed to them in the circular to Shareholders published by the Company on 15 April 2025.

Enquiries:

Janus Henderson Secretarial Services UK Limited

Corporate Secretary to The European Smaller Companies Trust PLC

 +44 (0)20 7818 1818

Winterflood Securities Limited

Neil Langford / Rose Ramsden / Sophia Bechev (Corporate Finance) 

Darren Willis / Innes Urquhart (Corporate Sales)

+44 (0)20 3100 0000