Commencement of Closed Period

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC

(the 'Company')

Compliance with Market Abuse Regulation

Information disclosed in accordance with Market Abuse Regulation Article 19, paragraph 11

The Company announces that it is satisfied that all inside information which the Directors and the Company may have in the period leading up to the announcement of its results for the year ended 31st March 2020 has previously been, and will continue to be notified to the London Stock Exchange via a regulatory information service. Therefore, the Company is not prohibited from dealing in its own securities.

The mandatory closed period under MAR will commence on 11th May 2020 and will expire when the results in respect of the year ended 31st March 2020 are published, which is expected to be on or around 19th June 2020.

If in the period leading up to the announcement of the year-end results the Directors of the Company come into the possession of any inside information, this will be notified to the London Stock Exchange without delay and before any such transactions are undertaken.

JPMorgan Funds Limited - Secretary

1st April 2020

For further information, please contact:

Divya Amin

JPMorgan Funds Limited

020 7742 4000