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 July 2018

IMCD

2.6%

Royal Unibrew

2.5%

Amplifon

2.5%

Galenica

2.4%

Rubis

2.4%

Fagron

2.3%

Rémy Cointreau

2.2%

Alten

2.1%

Recordati

2.1%

ÅF

2.1%

Total

23.2%

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:

Faith Pengelly 0044 207 742 8627 - Company Secretary

Date: 14 August 2018