Ten Largest Investments

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC (the 'Company')

Legal Entity Identifier: 549300KP3CRHPQ4RF811

THE COMPANY ANNOUNCES THE TEN LARGEST INVESTMENTS IN % OF TOTAL ASSETS As at: 30 April 2018

Misumi Group

2.1%

SUMCO

2.1%

Benefit One

2.1%

Sanwa

1.8%

Nohmi Bosai

1.7%

IRISO Electronics

1.7%

SMS

1.7%

DTS

1.6%

Mitsubishi UFJ Lease & Finance

1.6%

Chiba Bank

1.6%

Total

18.0%

Name of contact and telephone number for queries:

Debbie Sarfas 0044 207 742 3449

Name of authorised company official responsible for making this notification:

Divya Amin 0044 207 742 1025 - Company Secretary

Date: 11 May 2018