Transaction in Own Shares

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC

('the Company')

REPURCHASE OF ORDINARY SHARES INTO TREASURY

Legal Entity Identifier: 549300KP3CRHPQ4RF811

Information disclosed in accordance with LR 12.4.6 and DTR 5.5.1

The Company has today purchased into Treasury 66,000 Ordinary shares at 341.298 pence per share.

Following the transaction the Company holds 1,092,000 ordinary shares in Treasury. The shares in issue less the total number of Treasury shares is 54,852,560.

The Company will only re-issue shares held in Treasury at a premium to Net Asset Value.

26 May 2017

For further information, please contact:

Rhys Williams

JPMorgan Funds Limited - Secretary

Telephone 020 7742 4000