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 July 2017

TKH

2.9%

Skandiabanken

2.8%

Amplifon

2.6%

Sopra Steria

2.6%

ams AG

2.6%

Royal Unibrew

2.6%

Rémy Cointreau

2.5%

Ubisoft Entertainment

2.4%

FinecoBank

2.4%

Alten

2.4%

Total

25.8%

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: 10 August 2017