Issue of Equity

6 October 2017

STANDARD LIFE UK SMALLER COMPANIES TRUST PLC

Issue of equity

The Board of Standard Life UK Smaller Companies Trust plc (the "Company") has today issued 927,892 Ordinary 25p Shares following elections by holders of the Company's 3.5% Convertible Unsecured Loan Stock 2018 ("CULS") to convert GBP 2,201,462 nominal of CULS. The Ordinary Shares, which were issued out of treasury, will rank pari passu with the existing Ordinary Shares.

Following this issuance there will be 69,179,225 Ordinary Shares, with voting rights, and GBP 11,052,427 nominal of CULS in issue. There will also be 2,447,950 shares held in treasury.

Maven Capital Partners UK LLP

Company Secretary

Tel. 0141 206 0124