Transaction in Own Shares

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC

REPURCHASE OF ORDINARY SHARES INTO TREASURY

('the Company')

Legal Entity Identifier: 549300KP3CRHPQ4RF811

Information disclosed in accordance with DTR 5.5.1

On 17 February 2017 the Company purchased into Treasury 40,000 Ordinary shares at 325.84 pence per share.

Following the transaction the Company holds 786,500 ordinary shares in Treasury. The shares in issue less the total number of Treasury shares is 55,158,060.

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

17 February 2017

For further information, please contact:

Rhys Williams

JPMorgan Funds Limited - Secretary

Telephone 020 7742 4000