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 April 2017

ams AG

2.0%

Tarkett

2.0%

Alten

2.0%

IMCD

2.0%

Aalberts Industries

1.9%

Maisons du Monde

1.9%

Stabilus

1.9%

Bucher Industries

1.9%

SalMar

1.9%

Aker Solutions

1.9%

Total

19.4%

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: 12 May 2017