Royce Micro-Cap Trust (NYSE: RMT) as of August 31, 2017

Closing August 31, 2017

NAV

$ 9.72

MKT

$ 8.59

Total Return Performance

PERIODS ENDED August 31, 2017

NAV (%)

MKT (%)

One Month*

-0.51

-0.69

Year-To-Date*

4.85

9.36

One-Year

14.72

17.13

Three-Year Average Annual

4.77

3.93

Five-Year Average Annual

13.13

13.35

Ten-Year Average Annual

6.32

5.34

*Not annualized

Portfolio Diagnostics

Weighted Average Geometric Market Cap

$415 million

Weighted Average P/E Ratio

20.9*

Weighted Average P/B Ratio

1.9x

Net Assets

$373 million

Net Leverage

19%

*Excludes 21% of portfolio holdings with zero or negative earnings as of 8/31/17.

Net leverage is the percentage, in excess of 100%, of the total value of equity type investments, divided by net assets.

Portfolio Composition

TOP 10 POSITIONS

% OF NET ASSETS

1.     Major Drilling Group International

1.4

2.     Kadant

1.2

3.     Heritage Crystal Clean

1.2

4.     Mesa Laboratories

1.2

5.     Clarkson

1.1

6.     Atrion Corp.

1.0

7.     Zealand Pharma Cl. A

1.0

8.     Surmodics

1.0

9.     IES Holdings

1.0

10.  Sun Hydraulics

1.0

TOP 5 SECTORS

% OF NET ASSETS

 1. Information Technology

21

 2. Industrials

21

 3. Health Care

16

 4. Consumer Discretionary

15

 5. Financials

13