Ten Largest Investments

JPMORGAN EUROPEAN SMALLER COMPANIES TRUST PLC (the 'Company')

Legal Entity Identifier: 54930049CEWDI46Y3U28

THE COMPANY ANNOUNCES THE TEN LARGEST INVESTMENTS IN % OF TOTAL ASSETS As at: 28 February 2017

Oriflame

2.7%

Salvatore Ferragamo

2.5%

Hugo Boss

2.4%

Interpump Group

2.3%

Bucher Industries

2.3%

De'Longhi

2.3%

Tarkett

2.3%

Subsea 7

2.2%

Buzzi Unicem

2.2%

Amplifon

2.2%

Total

23.4%

Excludes Investments in Liquidity stocks

Name of contact and telephone number for queries:

Debbie Sarfas 0044 207 742 3449

Name of authorised company official responsible for making this notification:

Jonathan Latter 0044 207 742 3408 - Company Secretary

Date: 10 March 2017