Caroline RoxburghPurchase

14/09/2026563 shares£966.95

Gordon NeillyPurchase

02/09/2026440 shares£783.20

Gordon NeillyPurchase

30/03/202667,500 shares£98,718.08

Hillary WilliamsPurchase

30/03/20266,801 shares£9,945.75

Caroline RoxburghPurchase

27/03/20263,397 shares£4,967.76

Caroline RoxburghPurchase

14/01/2026141 shares£238.07

Gordon NeillyPurchase

07/01/2026121 shares£200.68

Date	Director/PDMR	Type	Shares	Price	Value
14/09/2026	Caroline Roxburgh	Purchase	563	171.75	£966.95
02/09/2026	Gordon Neilly	Purchase	440	178.00	£783.20
30/03/2026	Gordon Neilly	Purchase	67,500	146.25	£98,718.08
30/03/2026	Hillary Williams	Purchase	6,801	146.24	£9,945.75
27/03/2026	Caroline Roxburgh	Purchase	3,397	146.24	£4,967.76
14/01/2026	Caroline Roxburgh	Purchase	141	168.85	£238.07
07/01/2026	Gordon Neilly	Purchase	121	165.85	£200.68

Open positions only

Montanaro Asset Management Limited

29/07/202613,248,491 shares11.43%

Montanaro Asset Management Limited

20/01/202613,248,491 shares10.01%

1607 Capital Partners, LLC

10/12/20256,471,634 shares4.74%

Montanaro Asset Management Limited

30/10/202513,248,491 shares9.01%

Allspring Global Investments Holdings

06/06/20258,181,575 shares5.00%

Saba Capital Management, L.P.

03/06/20258,208,953 shares4.99%

Montanaro Asset Management Limited

02/06/202513,248,491 shares8.01%

Saba Capital Management, L.P.

10/04/202516,957,468 shares9.75%

Saba Capital Management, L.P.

08/04/202522,457,468 shares12.70%

Saba Capital Management, L.P.

08/04/202519,707,468 shares11.14%

Montanaro Asset Management Limited

04/04/202513,248,491 shares7.38%

Saba Capital Management, L.P.

21/03/202523,457,468 shares13.01%

Saba Capital Management, L.P.

17/03/202523,659,119 shares12.95%

Saba Capital Management, L.P.

12/03/202523,909,119 shares13.03%

J.P. Morgan Securities plc

07/03/2025

Montanaro Asset Management Limited

24/01/202511,633,491 shares6.16%

J.P. Morgan Securities plc

20/01/20259,548,018 shares5.06%

Saba Capital Management, L.P.

09/12/202422,780,890 shares12.03%

Saba Capital Management, L.P.

04/12/202421,976,997 shares11.60%

Saba Capital Management, L.P.

22/10/202418,952,603 shares10.01%

Montanaro Asset Management Limited

18/07/20249,500,000 shares5.02%

Saba Capital Management, L.P.

02/07/20249,529,012 shares5.03%

1607 Capital Partners, LLC

11/04/202310,027,381 shares5.29%

Date	Shareholder	Shares Held	Percentage
29/07/2026	Montanaro Asset Management Limited	13,248,491	11.43%
20/01/2026	Montanaro Asset Management Limited	13,248,491	10.01%
10/12/2025	1607 Capital Partners, LLC	6,471,634	4.74%
30/10/2025	Montanaro Asset Management Limited	13,248,491	9.01%
06/06/2025	Allspring Global Investments Holdings	8,181,575	5.00%
03/06/2025	Saba Capital Management, L.P.	8,208,953	4.99%
02/06/2025	Montanaro Asset Management Limited	13,248,491	8.01%
10/04/2025	Saba Capital Management, L.P.	16,957,468	9.75%
08/04/2025	Saba Capital Management, L.P.	22,457,468	12.70%
08/04/2025	Saba Capital Management, L.P.	19,707,468	11.14%
04/04/2025	Montanaro Asset Management Limited	13,248,491	7.38%
21/03/2025	Saba Capital Management, L.P.	23,457,468	13.01%
17/03/2025	Saba Capital Management, L.P.	23,659,119	12.95%
12/03/2025	Saba Capital Management, L.P.	23,909,119	13.03%
07/03/2025	J.P. Morgan Securities plc	–	–
24/01/2025	Montanaro Asset Management Limited	11,633,491	6.16%
20/01/2025	J.P. Morgan Securities plc	9,548,018	5.06%
09/12/2024	Saba Capital Management, L.P.	22,780,890	12.03%
04/12/2024	Saba Capital Management, L.P.	21,976,997	11.60%
22/10/2024	Saba Capital Management, L.P.	18,952,603	10.01%
18/07/2024	Montanaro Asset Management Limited	9,500,000	5.02%
02/07/2024	Saba Capital Management, L.P.	9,529,012	5.03%
11/04/2023	1607 Capital Partners, LLC	10,027,381	5.29%

Caroline RoxburghPurchase

14/09/2026563 shares£966.95

Gordon NeillyPurchase

02/09/2026440 shares£783.20

Gordon NeillyPurchase

30/03/202667,500 shares£98,718.08

Hillary WilliamsPurchase

30/03/20266,801 shares£9,945.75

Caroline RoxburghPurchase

27/03/20263,397 shares£4,967.76

Caroline RoxburghPurchase

14/01/2026141 shares£238.07

Gordon NeillyPurchase

07/01/2026121 shares£200.68

Date	Director/PDMR	Type	Shares	Price	Value
14/09/2026	Caroline Roxburgh	Purchase	563	171.75	£966.95
02/09/2026	Gordon Neilly	Purchase	440	178.00	£783.20
30/03/2026	Gordon Neilly	Purchase	67,500	146.25	£98,718.08
30/03/2026	Hillary Williams	Purchase	6,801	146.24	£9,945.75
27/03/2026	Caroline Roxburgh	Purchase	3,397	146.24	£4,967.76
14/01/2026	Caroline Roxburgh	Purchase	141	168.85	£238.07
07/01/2026	Gordon Neilly	Purchase	121	165.85	£200.68

Open positions only

Montanaro Asset Management Limited

29/07/202613,248,491 shares11.43%

Montanaro Asset Management Limited

20/01/202613,248,491 shares10.01%

1607 Capital Partners, LLC

10/12/20256,471,634 shares4.74%

Montanaro Asset Management Limited

30/10/202513,248,491 shares9.01%

Allspring Global Investments Holdings

06/06/20258,181,575 shares5.00%

Saba Capital Management, L.P.

03/06/20258,208,953 shares4.99%

Montanaro Asset Management Limited

02/06/202513,248,491 shares8.01%

Saba Capital Management, L.P.

10/04/202516,957,468 shares9.75%

Saba Capital Management, L.P.

08/04/202522,457,468 shares12.70%

Saba Capital Management, L.P.

08/04/202519,707,468 shares11.14%

Montanaro Asset Management Limited

04/04/202513,248,491 shares7.38%

Saba Capital Management, L.P.

21/03/202523,457,468 shares13.01%

Saba Capital Management, L.P.

17/03/202523,659,119 shares12.95%

Saba Capital Management, L.P.

12/03/202523,909,119 shares13.03%

J.P. Morgan Securities plc

07/03/2025

Montanaro Asset Management Limited

24/01/202511,633,491 shares6.16%

J.P. Morgan Securities plc

20/01/20259,548,018 shares5.06%

Saba Capital Management, L.P.

09/12/202422,780,890 shares12.03%

Saba Capital Management, L.P.

04/12/202421,976,997 shares11.60%

Saba Capital Management, L.P.

22/10/202418,952,603 shares10.01%

Montanaro Asset Management Limited

18/07/20249,500,000 shares5.02%

Saba Capital Management, L.P.

02/07/20249,529,012 shares5.03%

1607 Capital Partners, LLC

11/04/202310,027,381 shares5.29%

Date	Shareholder	Shares Held	Percentage
29/07/2026	Montanaro Asset Management Limited	13,248,491	11.43%
20/01/2026	Montanaro Asset Management Limited	13,248,491	10.01%
10/12/2025	1607 Capital Partners, LLC	6,471,634	4.74%
30/10/2025	Montanaro Asset Management Limited	13,248,491	9.01%
06/06/2025	Allspring Global Investments Holdings	8,181,575	5.00%
03/06/2025	Saba Capital Management, L.P.	8,208,953	4.99%
02/06/2025	Montanaro Asset Management Limited	13,248,491	8.01%
10/04/2025	Saba Capital Management, L.P.	16,957,468	9.75%
08/04/2025	Saba Capital Management, L.P.	22,457,468	12.70%
08/04/2025	Saba Capital Management, L.P.	19,707,468	11.14%
04/04/2025	Montanaro Asset Management Limited	13,248,491	7.38%
21/03/2025	Saba Capital Management, L.P.	23,457,468	13.01%
17/03/2025	Saba Capital Management, L.P.	23,659,119	12.95%
12/03/2025	Saba Capital Management, L.P.	23,909,119	13.03%
07/03/2025	J.P. Morgan Securities plc	–	–
24/01/2025	Montanaro Asset Management Limited	11,633,491	6.16%
20/01/2025	J.P. Morgan Securities plc	9,548,018	5.06%
09/12/2024	Saba Capital Management, L.P.	22,780,890	12.03%
04/12/2024	Saba Capital Management, L.P.	21,976,997	11.60%
22/10/2024	Saba Capital Management, L.P.	18,952,603	10.01%
18/07/2024	Montanaro Asset Management Limited	9,500,000	5.02%
02/07/2024	Saba Capital Management, L.P.	9,529,012	5.03%
11/04/2023	1607 Capital Partners, LLC	10,027,381	5.29%

Caroline RoxburghPurchase

14/09/2026563 shares£966.95

Gordon NeillyPurchase

02/09/2026440 shares£783.20

Gordon NeillyPurchase

30/03/202667,500 shares£98,718.08

Hillary WilliamsPurchase

30/03/20266,801 shares£9,945.75

Caroline RoxburghPurchase

27/03/20263,397 shares£4,967.76

Caroline RoxburghPurchase

14/01/2026141 shares£238.07

Gordon NeillyPurchase

07/01/2026121 shares£200.68

Date	Director/PDMR	Type	Shares	Price	Value
14/09/2026	Caroline Roxburgh	Purchase	563	171.75	£966.95
02/09/2026	Gordon Neilly	Purchase	440	178.00	£783.20
30/03/2026	Gordon Neilly	Purchase	67,500	146.25	£98,718.08
30/03/2026	Hillary Williams	Purchase	6,801	146.24	£9,945.75
27/03/2026	Caroline Roxburgh	Purchase	3,397	146.24	£4,967.76
14/01/2026	Caroline Roxburgh	Purchase	141	168.85	£238.07
07/01/2026	Gordon Neilly	Purchase	121	165.85	£200.68

Open positions only

Montanaro Asset Management Limited

29/07/202613,248,491 shares11.43%

Montanaro Asset Management Limited

20/01/202613,248,491 shares10.01%

1607 Capital Partners, LLC

10/12/20256,471,634 shares4.74%

Montanaro Asset Management Limited

30/10/202513,248,491 shares9.01%

Allspring Global Investments Holdings

06/06/20258,181,575 shares5.00%

Saba Capital Management, L.P.

03/06/20258,208,953 shares4.99%

Montanaro Asset Management Limited

02/06/202513,248,491 shares8.01%

Saba Capital Management, L.P.

10/04/202516,957,468 shares9.75%

Saba Capital Management, L.P.

08/04/202522,457,468 shares12.70%

Saba Capital Management, L.P.

08/04/202519,707,468 shares11.14%

Montanaro Asset Management Limited

04/04/202513,248,491 shares7.38%

Saba Capital Management, L.P.

21/03/202523,457,468 shares13.01%

Saba Capital Management, L.P.

17/03/202523,659,119 shares12.95%

Saba Capital Management, L.P.

12/03/202523,909,119 shares13.03%

J.P. Morgan Securities plc

07/03/2025

Montanaro Asset Management Limited

24/01/202511,633,491 shares6.16%

J.P. Morgan Securities plc

20/01/20259,548,018 shares5.06%

Saba Capital Management, L.P.

09/12/202422,780,890 shares12.03%

Saba Capital Management, L.P.

04/12/202421,976,997 shares11.60%

Saba Capital Management, L.P.

22/10/202418,952,603 shares10.01%

Montanaro Asset Management Limited

18/07/20249,500,000 shares5.02%

Saba Capital Management, L.P.

02/07/20249,529,012 shares5.03%

1607 Capital Partners, LLC

11/04/202310,027,381 shares5.29%

Date	Shareholder	Shares Held	Percentage
29/07/2026	Montanaro Asset Management Limited	13,248,491	11.43%
20/01/2026	Montanaro Asset Management Limited	13,248,491	10.01%
10/12/2025	1607 Capital Partners, LLC	6,471,634	4.74%
30/10/2025	Montanaro Asset Management Limited	13,248,491	9.01%
06/06/2025	Allspring Global Investments Holdings	8,181,575	5.00%
03/06/2025	Saba Capital Management, L.P.	8,208,953	4.99%
02/06/2025	Montanaro Asset Management Limited	13,248,491	8.01%
10/04/2025	Saba Capital Management, L.P.	16,957,468	9.75%
08/04/2025	Saba Capital Management, L.P.	22,457,468	12.70%
08/04/2025	Saba Capital Management, L.P.	19,707,468	11.14%
04/04/2025	Montanaro Asset Management Limited	13,248,491	7.38%
21/03/2025	Saba Capital Management, L.P.	23,457,468	13.01%
17/03/2025	Saba Capital Management, L.P.	23,659,119	12.95%
12/03/2025	Saba Capital Management, L.P.	23,909,119	13.03%
07/03/2025	J.P. Morgan Securities plc	–	–
24/01/2025	Montanaro Asset Management Limited	11,633,491	6.16%
20/01/2025	J.P. Morgan Securities plc	9,548,018	5.06%
09/12/2024	Saba Capital Management, L.P.	22,780,890	12.03%
04/12/2024	Saba Capital Management, L.P.	21,976,997	11.60%
22/10/2024	Saba Capital Management, L.P.	18,952,603	10.01%
18/07/2024	Montanaro Asset Management Limited	9,500,000	5.02%
02/07/2024	Saba Capital Management, L.P.	9,529,012	5.03%
11/04/2023	1607 Capital Partners, LLC	10,027,381	5.29%

Caroline RoxburghPurchase

14/09/2026563 shares£966.95

Gordon NeillyPurchase

02/09/2026440 shares£783.20

Gordon NeillyPurchase

30/03/202667,500 shares£98,718.08

Hillary WilliamsPurchase

30/03/20266,801 shares£9,945.75

Caroline RoxburghPurchase

27/03/20263,397 shares£4,967.76

Caroline RoxburghPurchase

14/01/2026141 shares£238.07

Gordon NeillyPurchase

07/01/2026121 shares£200.68

Date	Director/PDMR	Type	Shares	Price	Value
14/09/2026	Caroline Roxburgh	Purchase	563	171.75	£966.95
02/09/2026	Gordon Neilly	Purchase	440	178.00	£783.20
30/03/2026	Gordon Neilly	Purchase	67,500	146.25	£98,718.08
30/03/2026	Hillary Williams	Purchase	6,801	146.24	£9,945.75
27/03/2026	Caroline Roxburgh	Purchase	3,397	146.24	£4,967.76
14/01/2026	Caroline Roxburgh	Purchase	141	168.85	£238.07
07/01/2026	Gordon Neilly	Purchase	121	165.85	£200.68

Open positions only

Montanaro Asset Management Limited

29/07/202613,248,491 shares11.43%

Montanaro Asset Management Limited

20/01/202613,248,491 shares10.01%

1607 Capital Partners, LLC

10/12/20256,471,634 shares4.74%

Montanaro Asset Management Limited

30/10/202513,248,491 shares9.01%

Allspring Global Investments Holdings

06/06/20258,181,575 shares5.00%

Saba Capital Management, L.P.

03/06/20258,208,953 shares4.99%

Montanaro Asset Management Limited

02/06/202513,248,491 shares8.01%

Saba Capital Management, L.P.

10/04/202516,957,468 shares9.75%

Saba Capital Management, L.P.

08/04/202522,457,468 shares12.70%

Saba Capital Management, L.P.

08/04/202519,707,468 shares11.14%

Montanaro Asset Management Limited

04/04/202513,248,491 shares7.38%

Saba Capital Management, L.P.

21/03/202523,457,468 shares13.01%

Saba Capital Management, L.P.

17/03/202523,659,119 shares12.95%

Saba Capital Management, L.P.

12/03/202523,909,119 shares13.03%

J.P. Morgan Securities plc

07/03/2025

Montanaro Asset Management Limited

24/01/202511,633,491 shares6.16%

J.P. Morgan Securities plc

20/01/20259,548,018 shares5.06%

Saba Capital Management, L.P.

09/12/202422,780,890 shares12.03%

Saba Capital Management, L.P.

04/12/202421,976,997 shares11.60%

Saba Capital Management, L.P.

22/10/202418,952,603 shares10.01%

Montanaro Asset Management Limited

18/07/20249,500,000 shares5.02%

Saba Capital Management, L.P.

02/07/20249,529,012 shares5.03%

1607 Capital Partners, LLC

11/04/202310,027,381 shares5.29%

Date	Shareholder	Shares Held	Percentage
29/07/2026	Montanaro Asset Management Limited	13,248,491	11.43%
20/01/2026	Montanaro Asset Management Limited	13,248,491	10.01%
10/12/2025	1607 Capital Partners, LLC	6,471,634	4.74%
30/10/2025	Montanaro Asset Management Limited	13,248,491	9.01%
06/06/2025	Allspring Global Investments Holdings	8,181,575	5.00%
03/06/2025	Saba Capital Management, L.P.	8,208,953	4.99%
02/06/2025	Montanaro Asset Management Limited	13,248,491	8.01%
10/04/2025	Saba Capital Management, L.P.	16,957,468	9.75%
08/04/2025	Saba Capital Management, L.P.	22,457,468	12.70%
08/04/2025	Saba Capital Management, L.P.	19,707,468	11.14%
04/04/2025	Montanaro Asset Management Limited	13,248,491	7.38%
21/03/2025	Saba Capital Management, L.P.	23,457,468	13.01%
17/03/2025	Saba Capital Management, L.P.	23,659,119	12.95%
12/03/2025	Saba Capital Management, L.P.	23,909,119	13.03%
07/03/2025	J.P. Morgan Securities plc	–	–
24/01/2025	Montanaro Asset Management Limited	11,633,491	6.16%
20/01/2025	J.P. Morgan Securities plc	9,548,018	5.06%
09/12/2024	Saba Capital Management, L.P.	22,780,890	12.03%
04/12/2024	Saba Capital Management, L.P.	21,976,997	11.60%
22/10/2024	Saba Capital Management, L.P.	18,952,603	10.01%
18/07/2024	Montanaro Asset Management Limited	9,500,000	5.02%
02/07/2024	Saba Capital Management, L.P.	9,529,012	5.03%
11/04/2023	1607 Capital Partners, LLC	10,027,381	5.29%

Montanaro European Smaller Companies Trust plc Shareholders

Director/PDMR Dealings

Major Shareholding Notifications

Montanaro European Smaller Companies Trust plc Shareholders

Director and PDMR Dealings

Major Shareholding Notifications

Director/PDMR Dealings

Major Shareholding Notifications

Director and PDMR Dealings

Major Shareholding Notifications

Director and PDMR Dealings

Director and PDMR Dealings

Major Shareholding Notifications

Major Shareholding Notifications

Director and PDMR Dealings

Director and PDMR Dealings

Major Shareholding Notifications

Major Shareholding Notifications

Director and PDMR Dealings

Major Shareholding Notifications

Director and PDMR Dealings

Major Shareholding Notifications