We examine 20 years (2004–2023) of vertical profiles of winter/spring lower stratospheric ozone inside the Antarctic vortex, based on satellite observations and a chemistry climate model. The observations show increases in the smallest ozone values, as well as trends consistent with a slow recovery from the long-term impact of ozone-depleting substances. The model also shows some reductions in lower stratospheric seasonal Antarctic ozone losses, in broad agreement with the observations.