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: 31 December 2018

Korian

2.5%

Vopak

2.3%

PSP Swiss Property

2.3%

Fagron

2.1%

GN Store Nord

2.1%

Fischer (Georg)

2.1%

Interpump Group

2.1%

GrandVision

2.1%

Aalberts Industries

2.1%

Altran Technologies

2.1%

Total

21.8%

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:

Faith Pengelly 0044 207 742 8627 - Company Secretary

Date: 14 January 2019