JPMorgan European Discovery Trust PLC

JPMorgan European Smaller Companies Trust plc is an investment trust company. The Company's investment objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom. The Company invests in equities for the long term. The Company invests in markets that operate delivery versus payment (DVP) settlement. Its portfolio of investment includes industrial engineering, real estate investment and services, pharmaceuticals and biotechnology, support services, food producers, automobiles and parts, mobile telecommunications, household goods and construction, personal goods, and oil equipment, services and distribution. The Company's portfolio includes investments across geographical areas, including Germany, Sweden, Netherlands, Italy, Norway, Finland, Spain, Belgium, Ireland and Switzerland. The Company's investment manager is JPMorgan Asset Management (UK) Limited (JPMAM).