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: 29 Mar 2018

Sopra Steria

2.6%

IMCD

2.3%

Huhtamaki

2.3%

Rubis

2.2%

TKH

2.2%

Alten

2.2%

Husqvarna

2.1%

dorma+kaba

2.1%

Aalberts Industries

2.1%

Skandiabanken

2.1%

Total

22.2%

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: 13 April 2018