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Royce Small-Cap Trust Announces Q2 Distribution

Royce Small-Cap Trust, Inc., trading under the ticker symbol NYSE-RVT, has officially announced its quarterly distribution of $0.31 per share for the second quarter of 2026. This distribution reflects the company's ongoing commitment to providing value to its shareholders through consistent financial management and investment strategies.

The $0.31 payout will be distributed on June 29, 2026, to all shareholders who are recorded by the close of business on June 11, 2026. Notably, shareholders have the option to receive the payment in either cash or additional shares of common stock, depending on their preference indicated before the distribution date. The price for shares issued as part of this reinvestment program will be determined on June 18, 2026, ensuring that investors have the opportunity to optimize their portfolios as they see fit.

Royce Small-Cap Trust has assured shareholders that it maintains a rigorous distribution policy that aims for quarterly distributions aligned with a 7% annual rate drawn from the rolling average of the last four quarter-end net asset values (NAVs). Shareholders can expect that the fourth quarter payout will either match this annual rate or comply with minimum distribution requirements as dictated by IRS regulations. It is important for shareholders to keep in mind that while the distribution amounts and the sources are estimated, actual figures will vary based on the fund's investment performance throughout the fiscal year.

Breakdown of Estimated Source Allocations

As of May 31, 2026, the estimated allocations for the upcoming distribution and throughout the year are as follows:

• - Net Investment Income: $0.003 (1%)
• - Net Realized Short-Term Gains: $0.0697 (22%)
• - Net Realized Long-Term Gains: $0.2373 (77%)
• - Return of Capital: $0.00 (0%)

For the year-to-date total through May 31, 2026, the cumulative distribution stands at $0.61 per share, with similar allocations in the various categories.

Performance Metrics and Future Outlook

Investors should note that the fund's historical performance, as measured over the five-year period ending May 31, 2026, indicates an average annual total return of 8.10% based on NAV. As of the same date, the annualized current distribution rate was recorded at 6.11%. Furthermore, the cumulative total return from December 31, 2025, to May 31, 2026, was at an impressive 16.94%, while the cumulative fiscal year distribution rate was 3.00%. These figures reflect Royce Small-Cap Trust's robust investment strategies aimed at long-term capital growth.

About Royce Small-Cap Trust, Inc.

Royce Small-Cap Trust, Inc. is recognized as one of the oldest and largest closed-end diversified management investment companies. The primary objective of the fund is to facilitate long-term capital growth through investing at least 80% of its net assets in small-cap equity securities. These securities are defined as those with market capitalizations not exceeding that of the largest company within the Russell 2000® Index at the time each reconstitution occurs. Its strategy underscores a commitment to identifying growth in smaller companies while seeking to maximize shareholder value.

Shareholders should remain aware that the investments and their yields can fluctuate, and thus, they should consider the potential impacts on future distributions as the market evolves. As such, communications from the fund will continue to provide clarity on both performance and policy matters in an ever-changing investment landscape.