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 Aug 2017

Royal Unibrew

2.8%

Amplifon

2.6%

Sopra Steria

2.6%

ams AG

2.5%

Skandiabanken

2.5%

Rémy Cointreau

2.5%

Ubisoft Entertainment

2.5%

Forbo Holding

2.5%

Husqvarna

2.4%

TKH

2.4%

Total

25.3%

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: 11 September 2017