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 March 2017

Stabilus

2.2%

FLSmidth & Co

2.2%

Bucher Industries

2.2%

Tod's

2.2%

TKH

2.2%

Nokian Renkaa

2.2%

SAF-Holland

2.1%

Aalberts Industries

2.1%

Aker Solutions

2.1%

Trelleborg

2.1%

Total

21.6%

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 April 2017