JANUS HENDERSON FUND MANAGEMENT UK LIMITED

THE EUROPEAN SMALLER COMPANIES TRUST PLC

Legal Entity Identifier: 213800N1B1HCQG2W4V90

15 October 2025

The European Smaller Companies Trust PLC

(the 'Company')

Appointment of New Directors

Further to the Company's announcement earlier today of the completion of its combination with European Assets Trust PLC ('EAT'), the Board is pleased to announce the appointment of Stuart Paterson and Kate Cornish-Bowden as non-executive directors of the Company with effect from 16 October 2025. They will serve as members of the Company's Audit Committee, Management Engagement Committee and Nomination and Remuneration Committee.

Stuart was appointed to the EAT Board in July 2019 and became Chairman in May 2024. Stuart was formally a co-founder and partner of Scottish Equity Partners, one of Europe's leading technology growth equity investors, managing more than £1 billion of institutional capital over two decades. Stuart has over 25 years of equity investing experience in European private companies and has served on public and private boards in numerous sectors over the years. Stuart trained with EY and is a member of the Institute of Chartered Accountants of Scotland. He worked in corporate finance for EY before moving into equity investment.

Kate was appointed to the EAT Board and became Senior Independent Director in January 2024. Kate is the Chair of International Biotechnology Trust plc, a non-executive director of Finsbury Growth & Income Trust plc and a non-executive director and Chair of the Audit Committee of CC Japan Income & Growth Trust plc. Kate's executive roles include several years as a fund manager for Morgan Stanley Investment Management, where she was managing director and head of the global equity team. Prior to this, she worked as a research analyst at M&G. Kate is a member of the Chartered Financial Analyst Institute, holds a master's degree in business administration, and has completed the Financial Times Non-Executive Director Diploma. Kate was previously a non-executive director of Schroder Oriental Income Fund.

On completion of the Scheme, it is expected that Stuart will hold 51,413 ordinary shares in the Company and Kate will hold 38,559 ordinary shares in the Company.

There is no other information to be disclosed under UK Listing Rule 6.4.8R (1) to (6) in relation to Stuart or Kate.

For further information:

Janus Henderson Secretarial Services UK Limited

Corporate Secretary to The European Smaller Companies Trust PLC

 +44 (0)20 7818 1818