JANUS HENDERSON FUND MANAGEMENT UK LIMITED

THE EUROPEAN SMALLER COMPANIES TRUST PLC

Legal Entity Identifier:  213800N1B1HCQG2W4V90

29 May 2025

THE EUROPEAN SMALLER COMPANIES TRUST PLC

(the "Company")

Repurchase of In Specie Exit Shares

The Company announces that, in connection with the Tender Offer, it has today repurchased 115,386,122 Ordinary Shares pursuant to the In Specie Consideration Option. The Tender Price per In Specie Exit Share was 210.40 pence. The In Specie Exit Shares will be cancelled.

Any Qualifying Shareholder that has its Ordinary Shares repurchased pursuant to the In Specie Option will be responsible for and will bear any stamp duty, stamp duty reserve tax or transfer or registration taxes (whether UK or non-UK), as appropriate, in relation to any assets which have been transferred to such Qualifying Shareholder and which it is required to pay as transferee.

Following the above purchase, the Company's issued ordinary share capital is 279,246,204 Ordinary Shares of 1.5625 pence each, of which 817,028 Ordinary Shares are held in treasury.

As treasury shares have no voting rights, the total number of voting rights in the Company is now 278,429,176.  Shareholders should use this figure as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

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