Privacy Policy

Your Privacy and the Security of Your Personal Information is Very Important to The Royce Funds (the "Funds") and Royce & Associates, LLC.

This Privacy and Security Notice (the "Privacy Notice") describes our privacy and data protection practices with respect to your nonpublic personal information that we receive. The provisions of this Privacy Notice apply to your information both while you are a shareholder and after you are no longer invested with the Funds.

The Type of Nonpublic Personal Information We Collect About You.

The Funds collect and maintain nonpublic personal information about you in connection with your shareholder account. Such information may include, but is not limited to:

• Personal information included on applications or other forms (such as your address and social security number);
• Account balances, transactions; and mutual fund holdings and positions;
• Online account access user IDs, passwords, security challenge question responses; and
• Information received from consumer reporting agencies regarding credit history and creditworthiness (such as the amount of an individual's total debt, payment history, etc.).

We also collect information, often referred to as "cookies", when you visit our website that indicates where on our website you have visited and what you viewed.

How We Use Nonpublic Personal Information About You.

The Funds do not sell any information we obtain about you to anyone.We do not disclose any nonpublic personal information about you except as may be required to perform transactions or services you have authorized or as permitted or required by law. We may disclose information about you to:

• Employees, agents, and affiliates to enable us to conduct ordinary business or comply with obligations to government regulators;
• Service providers, including, but not limited to, the Funds' affiliates, who assist the Funds as part of the ordinary course of business (such as printing, mailing services, or processing or servicing your account with us) or otherwise perform services on the Funds' behalf, including companies that may perform marketing services;
• The Funds' representatives such as legal counsel, accountants and auditors; and
• Fiduciaries or representatives acting on your behalf, such as an IRA custodian or trustee of a grantor trust.

We may disclose nonpublic personal information about you to protect against fraud, or as permitted or required by applicable law, such as in connection with a law enforcement or regulatory request, subpoena, or similar legal process. In the event of a corporate action or in the event one of our service providers change, we may be required to disclose your nonpublic personal information to third parties.

Keeping you Informed of Our Privacy and Security Practices

We will notify you annually of our privacy policy as required by federal law. While we reserve the right to modify this policy at any time we will notify you promptly if this privacy policy changes.

The Funds' Security Practices.

We maintain appropriate physical, electronic and procedural safeguards designed to guard your nonpublic personal information. Our internal data security policies restrict access to your nonpublic personal information to authorized employees, who may use your nonpublic personal information for Fund business purposes only. Although we strive to protect your nonpublic personal information, we cannot ensure or warrant the security of any information you provide or transmit to us, and you do so at your own risk.

For questions about our policy or for printed copies of this notice, please contact The Royce Funds, at 745 Fifth Avenue, New York, NY 10151, or 800-221-4268.