Net Asset Value(s)

From:  Montanaro European Smaller Companies Trust plc

LEI:       213800CWSC5B8BG3RS21  

Date:    27 March 2026

Net Asset Value

Net Asset Values per share as at the close of business on 26 March 2026.

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

Cum Income       Ex Income

                                                                                       162.42         160.68

For further information please contact:

Juniper Partners Limited

Company Secretary

0131 378 0500