Publication of Circular

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, ANY MEMBER STATE OF THE EEA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

28 April 2025

JPMorgan European Discovery Trust plc

(the "Company" or "JEDT")

Publication of Circular and Notice of General Meeting

to Renew the Company's authority to buy back Ordinary Shares

The Board of JEDT announces that it has today published a Circular (the "Circular") which contains a notice of a general meeting (the "General Meeting"), at which the Board will seek Shareholder approval to renew the Company's share buy-back authority. The General Meeting will be held at 11.00 a.m. on 16 May 2025 at 60 Victoria Embankment, London EC4Y 0JP.

The Board continues to monitor the level of the share price discount to net asset value ("NAV") and believes that its ability to repurchase Ordinary Shares to minimise the short-term volatility and the absolute level of the discount to NAV per Ordinary Share at which the Company's Ordinary Shares trade is of prime importance to Shareholders.

In the light of the Company's recent buy-back activity, the Board and the Investment Manager anticipate the existing authority to repurchase Ordinary Shares, granted at the Company's last annual general meeting held on 24 July 2024 (the "2024 AGM"), will likely be fully utilised before it can be refreshed at the Company's next annual general meeting, which is expected to be held in July 2025. As a result, in order to ensure that the Company can continue to effectively operate its discount management policy, the Board is seeking Shareholder approval for the early renewal of its authority to repurchase Ordinary Shares.

At the 2024 AGM, Shareholders granted the Company the authority to buy back up to 21,145,921 Ordinary Shares (the "Existing Authority"). In the period from the 2024 AGM to close of business on the Latest Practicable Date, the Company bought back 13,881,220 Ordinary Shares into treasury, representing 65.64 per cent. of the Existing Authority. As at close of business on the Latest Practicable Date, the Company's remaining buy-back authority, therefore, permitted the repurchase of up to a further 7,264,701 Ordinary Shares (representing approximately 5.15 per cent. of the Company's issued share capital (excluding Ordinary Shares held in treasury) as at the Latest Practicable Date).

The ability to repurchase Ordinary Shares is a necessary element of its discount management mechanisms and, therefore, the Board believes that renewal of the Company's buy-back authority is in the best interests of the Company and its Shareholders as a whole.

A copy of the Circular will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Circular and the Notice of the General Meeting will also be available on the Company's website at www.jpmeuropeandiscovery.co.uk.

Unless otherwise defined, all definitions used in this announcement will have the same meaning as described in the Circular.

Notes

JEDT's Legal Entity Identifier: 54930049CEWDI46Y3U28