March 1, 2024—The Boards of Directors of Royce Global Value Trust, Inc. (“RGT”) and Royce Value Trust, Inc. (“RVT”) have approved changes to the name of RGT and to the name and non-fundamental investment policies of RVT. Such changes will become effective as of May 1, 2024.

RGT’s name will change from “Royce Global Value Trust, Inc.” to “Royce Global Trust, Inc.” There will be no changes to RGT’s investment policies or restrictions in connection with such name change.

RVT’s name will change from “Royce Value Trust, Inc.” to “Royce Small-Cap Trust, Inc.” Under its current non-fundamental investment policies, RVT normally invests at least 65% of its assets in the equity securities of small- and micro-cap companies. Such non-fundamental investment policy will be amended, as of May 1, 2024, to require RVT to invest, under normal circumstances, at least 80% of its net assets in equity securities of small-cap companies (i.e., those that have a market capitalization not greater than that of the largest company in the Russell 2000® Index at the time of its most recent reconstitution).

The investment objectives and overall investment strategies of RGT and RVT are not changing in connection with the changes referenced above.

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