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: 30 June 2017

TKH

2.6%

Rémy Cointreau

2.5%

Royal Unibrew

2.4%

Sopra Steria

2.4%

Huhtamaki

2.3%

ams AG

2.3%

Husqvarna

2.3%

Alten

2.2%

Ubisoft Entertainment

2.2%

Metso

2.1%

Total

23.3%

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: 12 July 2017