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 January 2017

Trigano

2.5%

Salvatore Ferragamo

2.4%

Sulzer

2.4%

Ipsos

2.4%

Aalberts Industries

2.3%

Datalogic

2.3%

Rémy Cointreau

2.3%

STABILUS

2.3%

Buzzi Unicem

2.3%

Amplifon

2.3%

Total

23.5%

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: 14 February 2017