Conversion of Shares

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN EUROPEAN INVESTMENT TRUST PLC

CONVERSION OF SHARES

Legal Entity Identifier: 549300D8SPJFHBDGXS57

Information disclosed in accordance with DTR 9.6.4 (6)

The Board of JPMorgan European Investment Trust plc (the 'Company') announces that valid Conversion Notices have been received in respect of the following Shares (the 'Converting Shares'):

- 707,537 Growth Shares; and

- 4,579,174 Income Shares.

At 8.00 a.m. on 15th March 2018, the above Converting Shares will be converted into:

- 360,957 Growth Shares; and

- 8,818,257 Income Shares.

(the 'Resulting Shares')

Following the conversion, the total number of Shares in issue at 8.00 a.m. on 15th March 2018 will be:

- 72,972,275 Growth Shares; and

- 101,880,214 Income Shares.

The conversion calculations were based on the relative net asset values of the two share classes (net of accrued management expenses and applicable costs of conversion) as at close of business on 7th March 2018.

The resulting Conversion Ratios were:

- for every Converting Share which is a Growth Share, holders are entitled to 1.925731 Income Shares; and

- for every Converting Share which is an Income Share, holders are entitled to 0.510160 Growth Shares.

Individual Shareholders' entitlements on conversion will be rounded down to the nearest whole number of Shares. The Resulting Shares will rank pari passu with the existing Shares of the relevant class of Resulting Share. The Nominal Value of the shares following the conversion will be Growth Shares 3.97000 pence and Income Shares 2.06155 pence.

The Resulting Shares have been allotted subject only to admission to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities ('Admission'). The relevant applications have been made and Admission is expected to occur at 8.00 a.m. on 15th March 2018. Dealings in such shares are expected to commence at 8.00 a.m. on 15th March 2018. It is anticipated that Certificates in respect of the Resulting Shares will be posted by 23rd March 2018.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Company's articles of association.

9th March 2018

For and on behalf of

JPMorgan Funds Limited, Secretary

For further information, please contact: Paul Winship Tel. 020 7742 9815