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: 31 March 2020

Taiyo Yuden

3.0%

FP Corporation

2.8%

MIURA

2.7%

Raito Kogyo

2.5%

DTS

2.3%

Misumi Group

2.2%

NPR

2.1%

Cosmos Pharmaceutical

2.0%

Bengo4.com

1.9%

Nohmi Bosai

1.9%

Total

23.3%

Name of contact and telephone number for queries:

Paul Ainger 0044 207 742 6524

Name of authorised company official responsible for making this notification:

Divya Amin 0044 207 742 1025 - Company Secretary

Date: 14 April 2020