Title: 242363026.pdf URL Source: https://documentscdn.financialexpress.net/Literature/556C3A9C5D287790F1C2D47816785E76/242363026.pdf Number of Pages: 3 Markdown Content: # Brown Advisory US Smaller Companies PLC APRIL 2026: FUND FACTSHEET Chris Berrier was appointed portfolio manager of the Company from 1st April 2021. He brings a wealth of experience having managed the US small-cap growth strategy at Brown Advisory since 2006. He is also a portfolio manager of the Brown Advisory US mid-cap growth strategy and prior to joining Brown Advisory, Chris was a senior equity analyst at T. Rowe Price covering multiple sectors with a focus on small- and mid-cap growth companies. CHRISTOPHER BERRIER Portfolio Manager George Sakellaris was appointed associate portfolio manager of the Company from 1st April 2021. He has supported Chris on the US small-cap growth strategy since he joined Brown Advisory in 2014. He is also a portfolio manager of the Brown Advisory US mid-cap growth strategy. Prior to joining Brown Advisory, George started and managed a small-cap growth strategy at Credo Capital Management and served as director of research and an analyst for GARP Research & Securities. GEORGE SAKELLARIS Associate Portfolio Manager PORTFOLIO MANAGERS PERFORMANCE Past performance may not be a reliable guide to future performance and investors may not get back the amount invested. All investments involve risk. The value of the investment and the income from it will vary. There is no guarantee that the initial investment will be returned. Data sourced by Refinitiv. Copyright ©Refinitiv, 2026. *Brown Advisory was appointed by the Board as Investment Adviser to the Company from 1st April 2021 and the name change took effect from 7th May 2021. Performance Over 5 Years (Annualised Performance %) Performance Over 5 Years (Rolling 12 Month Returns %) www.brownadvisory.com PRICES # 1,400.00p Share Price 1,531.55p NAV ‑8.59% Discount Premium / Discount Over 5 Years (%) 1 Month 3 Months 1 Year 3 Years 5 Years 30.04.25 30.04.24 30.04.23 30.04.22 30.04.21 30.04.26 30.04.25 30.04.24 30.04.23 30.04.22 Share Price 5.3 1.6 19.7 5.6 0.3 NAV 3.3 2.7 15.1 3.8 0.5 Benchmark 8.9 8.5 42.0 15.1 6.1 Share Price 19.7 -9.7 9.1 -2.3 -12.1 NAV 15.1 -8.7 6.4 1.4 -9.9 Benchmark 42.0 -5.4 13.8 -3.8 -8.3 Performance Over 5 Years (Cumulative Growth of £100) > 75 100 125 150 Apr 25 Apr 24 Apr 23 Apr 22 Apr 26 > nShare Price nNAV nBenchmark -New Investment Manager* INVESTMENT OBJECTIVE The Company’s objective is to achieve long-term capital growth by investing in a diversified portfolio primarily of quoted US smaller and medium-sized companies. Our investment philosophy is disciplined and grounded in a careful analysis of the fundamentals of each business relative to its share price. Underpinning this philosophy are our three core tenets: ƒ To think and act differently; ƒ To exploit market inefficiencies; and ƒ To focus on businesses that possess what we describe as “3G” qualities: à Durable growth ; à Sound governance ; and à Scalable go-to-market strategies We seek to mitigate risk within the strategy through diversification across sectors, business models and economic sensitivities. At Brown Advisory, our strategy is based on a unique firm culture and philosophy, which underpin a shared belief that low-turnover, concentrated portfolios derived from sound fundamental research can generate attractive outperformance. MANAGER PHILOSOPHY > -24 -16 -8 0Apr 25 Apr 24 Apr 23 Apr 22 Apr 21 Apr 26 2Brown Advisory US Smaller Companies PLC APRIL 2026: FUND FACTSHEET www.brownadvisory.com BOARD OF DIRECTORS Stephen White Chairman of the Board > Jasper Judd Chairman of the Audit Committee > Jane Routledge Senior Independent Director TOP TEN HOLDINGS (%) SECTOR ALLOCATION (%) The Portfolio Manager takes a disciplined approach to investment, emphasising long-term risk-adjusted returns. The Portfolio Manager believes that the US smaller and medium-sized company sector is a diverse and dynamic part of the North American market and continues to provide opportunities for capital growth over the long-term. The sector is highly diversified with a great many companies from which to choose. Many companies are relatively immature, whether financially or operationally or in terms of management or market position. They tend to be highly geared to growth and are particularly vulnerable to market and other changes. Against this background, the Company has adopted an investment style that focuses on companies with durable growth, scalable go-to-market strategies and well-aligned management and shareholder interests, and whose shares are considered by the Portfolio Manager to offer above-average capital growth at attractive valuations. The Portfolio Manager believes that this is an excellent approach to long-term investment in this sector. INVESTMENT POLICY INVESTMENT LIMITS TRUST INFORMATION COMPANY STRUCTURE & SIZE Contact Us Enquiries to Brown Advisory +44 20 3301 8130 InvestmentTrustEnquiries@brownadvisory.com > Enquiries to the Company ukfundscosec@apexfs.com 4th Floor, 140 Aldersgate Street, London, EC1A 4HY www.brownadvisory.com/basc Industrials 31.1 Healthcare 18.6 Information Technology 15.2 Cash 9.5 Financials 7.7 Energy 4.2 Consumer Discretionary 3.9 Materials 3.8 Real Estate 3.8 Utilities 1.2 Consumer Staples 1.1 Launch Date 10 March 1993 Financial Year-end 30 June Next AGM 16 November 2026 AMC 0.65% Other ongoing costs (%) 1.07% Ticker BASC Benchmark (GBP) Russell 2000 TR Index Structure Conventional Gearing 0% Company Size £173.3m Shares in Issue 11,282,542 The Portfolio Manager takes a disciplined approach to investment, emphasising long-term risk-adjusted returns. The Portfolio Manager believes that the US smaller and medium-sized company sector is a diverse and dynamic part of the North American market and continues to provide opportunities for capital growth over the long-term. The sector is highly diversified with a great many companies from which to choose. Many companies are relatively immature, whether financially or operationally or in terms of management or market position. They tend to be highly geared to growth and are particularly vulnerable to market and other changes. Against this background, the Company has adopted an investment style that focuses on companies with durable growth, scalable go-to-market strategies and well-aligned management and shareholder interests, and whose shares are considered by the Portfolio Manager to offer above-average capital growth at attractive valuations. The Portfolio Manager believes that this is an excellent approach to long-term investment in this sector. INVESTMENT POLICY The Board has prescribed limits on the investment policy, including: ƒ The Portfolio will comprise at all times a minimum of 40 securities (excluding cash); ƒ No single holding shall constitute more than 5% of total assets at the time of investment; ƒ No derivative instruments (excluding warrants) may be held without the prior approval of the Board; ƒ Investments in unlisted securities shall not exceed 5% of total assets at the time of investment and any such investments shall require prior Board approval; ƒ The Company shall not make any new investments in other UK listed investment companies; ƒ In any event, not more than 10% in aggregate of the total assets of the Company, and any of its subsidiaries, may be invested in other closed-ended investment funds (including listed investment trusts) whether or not such funds have stated investment policies to invest no more than 15% of their total assets in other listed closed-ended investment funds (including listed investment trusts); ƒ Borrowings, including overdraft facilities, shall not exceed 20% of the Company’s total assets and shall require prior Board approval; ƒ The Company shall not take legal or management control over any investments in its portfolio. INVESTMENT LIMITS Contact Us Enquiries to Brown Advisory +44 20 3301 8130 InvestmentTrustEnquiries@brownadvisory.com > Enquiries to the Company ukfundscosec@apexfs.com 4th Floor, 140 Aldersgate Street, London, EC1A 4HY www.brownadvisory.com/basc Oceaneering International Inc 4.2 Prosperity Bancshares inc 3.1 Establishment Labs Holdings Inc 3.0 Healthequity Inc 3.0 Waste Connections Inc 2.9 Anderson Group Inc 2.4 CCC Intelligent Solutions Holdings Inc 2.4 Bio-Techne Corp 2.3 Valmont Industries Inc 1.9 Enpro Inc 1.9 Total 27.1 > 010 20 30 40 > Ruth Beechey Chair of the Management Engagement Committee Source: JP Morgan Source: JP Morgan 3SHARE PRICE is the price of a single ordinary share, as determined by the stock market. The share price above is the mid-market price at market close. > NET ASSET VALUE (NAV) PER SHARE is calculated as the total value of the investments held by the trust, minus any liabilities, divided by the number of shares. > PREMIUM/DISCOUNT. Investment trust companies are traded on the London Stock Exchange, therefore the ability to buy or sell shares will be dependent on their market price, which may be at a premium or discount to their NAV. An investment trust trading in excess of its NAV is said to be at a premium; the reverse is called a discount. > GEARING (OR LEVERAGE) is the process by which the trust borrows money in order to increase the amount of funds working for the benefit of shareholders. The effect of gearing will be to amplify any investment gains (or losses) made by the trust. GLOSSARY Past performance may not be a reliable guide to future performance and investors may not get back the amount invested. All investments involve risk. The value of the investment and the income from it will vary. There is no guarantee that the initial investment will be returned. We recommend you discuss any investment decisions with a financial adviser, particularly if you are unsure whether an investment is suitable. Brown Advisory does not provide investment advice. The information in this factsheet is for information purposes only and does not constitute a recommendation or investment advice to buy or sell securities. This factsheet contains information about Brown Advisory US Smaller Companies PLC (the “Company”). The Company is a UK listed investment trust. Brown Advisory LLC has been appointed as portfolio manager to the Company. Information in relation to the Company is provided in the United Kingdom by Brown Advisory Limited, which is authorised and regulated by the Financial Conduct Authority of the United Kingdom. Brown Advisory LLC and Brown Advisory Limited are part of the Brown Advisory group of companies. The Company invests in smaller companies, which can be less liquid than investments in larger companies and can have fewer resources than larger companies to cope with unexpected adverse events. As such, price fluctuations may have a greater impact on the Company. The Company invests mainly in shares and it is likely to experience fluctuations in price which are larger than Companies that invest only in bonds and/or cash. The following risks are applicable to investing in this Company: Market & Exchange Rate risk, Gearing risk, Smaller Companies / Liquidity risk and Share Price risk. Before making an investment decision, please read the PRIIPS Key Information Document which is available from Brown Advisory on request and at: https://www.brownadvisory.com/intl/investment-trusts/brown-advisory-us-smaller-companies-plc The information provided here is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. References to specific securities are for illustrative purposes only and do not represent all of the securities purchased, sold or recommended for advisory clients. The Company currently conducts its affairs so that its shares can be recommended by Financial Advisers to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to non-mainstream pooled investment products and intends to continue to do so for the foreseeable future. The Company’s shares are excluded from the FCA’s restrictions which apply to non-mainstream pooled investment products because they are shares in an investment trust. The contents of this factsheet have been prepared for the benefit of investors in the United Kingdom and are not intended for those investors outside the United Kingdom. They are not directed at any person or entity in the United States, nor are they intended for distribution or to be used by any person or entity in the United States. In some countries, the distribution of information in this factsheet may be restricted: it is your responsibility to find out what those restrictions are and to observe them. Brown Advisory cannot be liable for a breach of such restrictions. Non-UK investors should consider their local regulations before considering investment. The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of MSCI and Standard & Poor’s. “Global Industry Classification Standard (GICS), “GICS” and “GICS Direct” are service marks of Standard & Poor’s and MSCI . “GICS” is a trademark of MSCI and Standard & Poor’s. The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 is a subset of the Russell 3000®Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000 Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. The Russell 2000® Index is a trademark/service mark of the Frank Russell Company. Russell® is a trademark of the Frank Russell Company. An investor cannot invest directly into an index. Performance data sourced by Refinitiv. Copyright ©Refinitiv 2026. All Rights Reserved. The Refinitiv logo and Refinitiv are trademarks of Refinitiv and its affiliated companies. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. Refinitiv is not liable for any errors or delays in Refinitiv content, or for any actions taken in reliance on such content. DISCLOSURES # Brown Advisory US Smaller Companies PLC APRIL 2026: FUND FACTSHEET www.brownadvisory.com