Change of Auditor

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN EUROPEAN SMALLER COMPANIES TRUST PLC

(the 'Company')

Change of Auditor

Legal Entity Identifier: 54930049CEWDI46Y3U28

The Company announces the intention to propose to shareholders, for approval at the Company's forthcoming Annual General Meeting ('AGM'), the appointment of Ernst & Young LLP ('EY') as auditor for the year ending 31st March 2020.

The decision follows a competitive tender process undertaken as a result the length of tenure of PricewaterhouseCoopers LLP ('PwC') as auditor and the process was overseen by the Audit Committee. PwC undertook and completed the audit for the year ended 31st March 2019.

A letter has been sent to shareholders of the Company today pursuant to Section 520(2) of the Companies Act 2006. The letter is for information only and relates to the statutory statement received from PwC in connection with its ceasing to be the Company's auditor with effect from 10th July 2019 (the date of the Company's AGM).

JPMorgan Funds Limited - Secretary

11th June 2019

For further information, please contact:

Faith Pengelly

JPMorgan Funds Limited

020 7742 4000