J.P. Morgan Global Equity Management Overview

J.P. Morgan offers deeply resourced and research-led global equity management solutions for professional clients and qualified investors. With a strong commitment to active management, the firm manages significant assets under management across a range of geographies and styles. The presentation covers J.P. Morgan's approach to socially responsible investing, investment capabilities, portfolio positioning, performance review, and collaboration with ECPI for SRI assessments.

• Global equity
• Socially responsible investing
• Asset management
• Investment strategies
• J.P. Morgan

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1. JPMorgan Funds - Global Socially Responsible Fund April 2020 1 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

2. J.P. Morgan Equities: Deeply resourced and research led Local equity research integrated globally ACTIVELY SHARING EXPERTISE Collaboration among 350+ equity investment professionals in 7 locations One of the deepest and most experienced equity managers in the world USD 150m annual research budget leads to unique insights Insights and guidance to help our clients invest with conviction Proprietary portfolio insights, reports and analytics Timely macro and market views, including our quarterly global equity views Access to senior managers through a range of client events EMPOWERING BETTER DECISIONS Solutions designed to address client needs Strong commitment to active management Comprehensive range of strategies across styles and geographies Disciplined approach to risk management BUILDING THE RIGHT PORTFOLIO A history of innovation and demonstrated results Led by an investment performance culture Serving 59% of the world s largest pension plans, sovereign wealth funds and central banks Early mover in research-enhanced index and short-enabled strategies TAPPING INTO PROVEN SUCCESS See Additional information at the back of this presentation for further information. 2 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

3. Equities Assets Under Management As of 31 December 2019, J.P. Morgan Asset Management s Equity teams manage USD 523bn Global Equities International Equity Group (IEG) USD 523bn total assets under management USD 111bn total assets under management UK 7% EMAP 24% Europe 25% Global 43% International Equity Group 21% US Equity 55% International 25% Source: J.P. Morgan Asset Management. Data as of 31 December 2019. Data includes internal Fund of Funds and joint ventures. International refers to Global ex US mandates. EMAP=Emerging Markets and Asia Pacific. 3 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

4. Agenda Our Global equity capabilities in SRI SRI assessment - ECPI Our investment approach Portfolio positioning Performance review ECPI: E-Capital Partners Indices. SRI-Socially Responsible Investing. 4 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

5. JPMorgan Funds Global Socially Responsible Fund - Summary A global Fund that only invests in Socially Responsible companies whilst not compromising on investment returns. Separates the Socially Responsible assessment from the investing: ECPI are specialists in socially responsible assessment whilst J.P. Morgan Asset Management is one of the world s largest investment houses. Any companies operating in eight specific sectors are banned outright. All remaining companies are assessed for their good and bad conduct and attributes, to decide if they are eligible for inclusion in the fund. The fund s benchmark has historically performed similarly to the MSCI World and MSCI ACWI. The fund is a bottom-up driven, large capitalisation fund with between 60 and 100 stocks. The fund started in 2002 and has been managed by the same fund manager since that date. The Fund s Benchmark = ECPI Ethical Index Global (Total Return Net). MSCI ACWI Index = MSCI All Country World Index 5 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

6. What is Socially Responsible Investing (SRI)? It is an investment strategy that takes into account a company s ethical, social and environmental performance (social responsibility) as well as its financial performance. Socially Responsible Company Outstanding employee relations + Investment Objective Strong records of community involvement SRI = Excellent environmental practices Investment returns Safe products Respect to human rights 6 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

7. Agenda Our Global equity capabilities in SRI SRI assessment - ECPI Our investment approach Portfolio positioning Performance review ECPI: E-Capital Partners Indices 7 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

8. ECPI: Assesses companies for both positive and negative attributes Assessment: For all other sectors, ECPI assesses a company s conduct. We are seeking to encourage good socially responsible behavior in corporations Banned: ALL companies operating (>2% of turnover) from these sectors are banned Good conduct and behaviour Bad conduct and behaviour Alcohol Low environmental impact High environmental impact Military/Defence No activity in controversial countries Activity in controversial countries Tobacco No use of child labour Use of child labour Gambling Good treatment of animals Poor treatment of animals Pornography Good H&S record for employees Evidence of weak H&S Genetically Modified Food No corruption or bribery Evidence of corruption or bribery Nuclear energy Positive impact on communities Negative impact on communities Contraceptives Products benefit society Controversial products ECPI: E-Capital Partners Indices. H&S Health & Safety. 8 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

9. ECPI: Corporate Ratings ECPI Corporate Rating Rating Level Definition Companies display innovative long-term strategic attitudes, strong operational management and proactive contribution towards society and the environment EEE NE Very good Not Eligible by Sector EEE- Companies display clear long-term strategic attitudes, sound operational management and positive contribution towards society and the environment EE+ F Not Eligible by ESG performance Good EE EE- Companies display basic long-term strategic attitudes, standard operational management and average contribution towards society and the environment E+ Fair E E, EE, EEE Eligible E- Companies display poor long-term strategic attitudes, weak operational management and ineffective / negative contribution towards society and the environment Companies are involved in controversial sectors Poor F Controversial NE Source: Bloomberg ECPS / Reuters: ECAPITAL / www.ecpigroup.com (March 2015). ECPI: E-Capital Partners Indices. ESG Environmental, Social & Governance. 9 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

10. Agenda Our Global equity capabilities in SRI SRI assessment - ECPI Our Investment Approach Portfolio positioning Performance review 10 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

11. JPMorgan Funds - Global Socially Responsible Fund: Investment Strategy summary International Equities Group Team managed Hugo Alexander Lead Portfolio Manager ECPI Ethical Index Global (Total Return Net) Benchmark Determined by ECPI SRI Criteria Active and Bottom Up Portfolio construction Regional investment professionals based locally Global Sector Specialists Source of stock ideas 60-100 Number of holdings 2.00% Target alpha 2 4 % Target tracking error 10% and 5% Regional and Sector active limits The targets and aims provided above are the Investment Manager s targets and aims only and are not necessarily part of the Fund s investment objectives and policies as stated in the prospectus. There is no guarantee that these will be achieved. 11 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

12. Investment process overview Leverage proprietorial research insights Global SRI Investment Universe Portfolio Construction Coverage provided by ECPI 10 Global Sector Specialists (GSS) Portfolio Manager emphasises bottom up stock selection Well established Provide global industry insights building on local market analysis Transparent Captures best thinking from internal research Comprehensive analysis Percentage return to fair value drives stock ranks (A D) Constructs portfolios balancing returns and risk 12 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

13. Global Sector Specialists driving stock selection Exploit full ACWI opportunity set Mandate Deep global sector knowledge balanced with detailed stock level analysis Provide a universe of high conviction well-researched stock ideas Access to research and insights from regional investment teams Resources Company meetings External research sources Ability to combine local insight from around the firm with top down global industry knowledge Advantage Freedom to focus on most attractive opportunities within a large universe Daily interaction with PMs PM = Portfolio Manager. ACWI = All Country World Index. 13 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

14. Global Sector Specialists leveraging the internal network Paul Neoh (17) Technology & Telecoms Global Sector Specialist Europe US Tech Hardware Biral Devani (26) Tech Hardware Asia Rob Bowman (27) Tech Hardware Paul Chan (27) Shunsuke Tsuchiya (17) Telecoms Ryan Vineyard (15) Telecoms Rajesh Panjwani (20) Tucker Grinnan (20) Gokhan Ates (15) (x) = x Years industry experience as of end March 2020. 14 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

15. Quality and Growth drive stock selection Growth Quality Addressable market Franchise strength + + Market share gains Financial strength + + Margin potential Environmental, Social & Governance Analysis of Quality & Growth drives a fair value estimate and an implied compound 5yr USD return expectation Valuation 15 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

16. Portfolio construction Portfolio of 60-100 best investment opportunities. High conviction stock selection stock positions up to 5%. Capture return Stock positions are a function of conviction/upside/risk Regional and sector allocations driven by bottom up stock selection Risk Management No sector > 5% No region > 10% Continuous review of investment thesis. Sell discipline Driven by upside/downside to fair value target Disciplined rebalancing, turnover typically 50-100% The fund is an actively managed portfolio. Holdings, sector weights, allocations and leverage, as applicable, are subject to change at the discretion of the investment manager without notice. 16 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

17. Agenda Our Global equity capabilities in SRI SRI assessment - ECPI Our investment approach Portfolio positioning Performance review 17 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

18. Sector and region positions JPMorgan Funds - Global Socially Responsible Fund as of 31 March 2020 ECPI Ethical Index Global (Total Return Net) Benchmark Active and absolute sector positions Active and absolute region positions Relative to benchmark (%) Portfolio weight (%) Relative to benchmark (%) Portfolio weight (%) 2.6 17.0 Financials 14.7 4.6 Europe ex UK 4.1 1.9 Real Estate 7.2 1.5 Consumer Staples 4.4 2.0 United Kingdom 15.4 1.1 Health Care 1.4 0.4 Materials 4.2 -0.5 Emerging Markets 14.2 0.3 Consumer Discretionary 26.0 70.8 -0.3 Information Technology -2.3 North America 0.0 -0.5 Utilities 0.5 0.0 -2.7 Pacific ex Japan -1.8 Energy 3.6 -2.5 Industrials 4.3 9.0 -2.8 Japan -4.3 Communication Services -6 -3 0 3 6 -7 -3.5 0 3.5 7 Source: J.P. Morgan Asset Management, Factset. The fund is actively managed. Holdings, sector weights, allocations and leverage, as applicable, are subject to change at the discretion of the Investment Manager without notice. 18 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

19. Portfolio positions JPMorgan Funds - Global Socially Responsible Fund as of 31 March 2020 ECPI Ethical Index Global (Total Return Net) Benchmark Top 10 overweight positions Top 10 underweight positions Portfolio weight (%) Benchmark weight (%) Relative position (%) Portfolio weight (%) Benchmark weight (%) Relative position (%) Stock Stock Intercontinental Exchange 2.4 0.2 2.1 JPMorgan Chase 0.0 1.4 -1.4 UnitedHealth Group 3.3 1.2 2.1 Tencent Holdings 0.0 1.4 -1.4 Willis Towers Watson 2.0 0.0 2.0 Microsoft 4.8 6.1 -1.3 Facebook 4.0 2.0 2.0 Intel 0.0 1.2 -1.2 Zoetis 2.1 0.3 1.8 Verizon Communications 0.0 1.1 -1.1 LSE Group 1.6 0.0 1.6 AT&T 0.0 1.1 -1.1 PayPal Hldgs 2.1 0.6 1.6 Apple 4.5 5.4 -0.9 Visa 3.0 1.4 1.6 Cisco Systems 0.0 0.8 -0.8 Vonovia SE 1.6 0.0 1.6 Netflix 0.0 0.8 -0.8 Delivery Hero 1.5 0.0 1.5 Toyota Motor 0.0 0.8 -0.8 Total 23.6 5.7 17.9 Total 9.3 20.1 -10.8 Source: J.P. Morgan Asset Management, Factset. The fund is actively managed. Holdings, sector weights, allocations and leverage, as applicable, are subject to change at the discretion of the Investment Manager without notice. 19 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

20. Agenda Our Global equity capabilities in SRI and ESG SRI assessment - ECPI Our investment approach Portfolio positioning Performance review 20 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

21. Performance JPMorgan Funds Global Socially Responsible Fund C shares as of 31 March 2020 Annualised performance (%) Three Months One year Three years* Five years* Ten years* YTD JPM Global Socially Responsible C (acc) USD -14.54 -14.54 0.53 6.04 4.14 5.45 ECPI Ethical Index Global (Total Return Net) -17.37 -17.37 -3.85 6.25 5.69 7.46 Excess return 3.43 3.43 4.57 -0.20 -1.47 -1.87 Calendar year performance (%) 2014 2015 2016 2017 2018 2019 JPM Global Socially Responsible C (acc) USD 5.29 -3.53 6.25 23.43 -9.47 33.26 ECPI Ethical Index Global (Total Return Net) 5.64 -1.62 6.59 25.31 -5.30 31.00 Excess return -0.33 -1.93 -0.32 -1.50 -4.41 1.72 Source: J. P. Morgan Asset Management. Fund inception: 30 September 2002. Share class C (acc) USD inception: 29 September 2015. Share class performance shown before the share class launch date has been simulated based on the gross performance of the share class A of the fund with the addition of the maximum fees applicable for the share class C as set out in the fund s prospectus with the gross income reinvested. Fund performance is shown based on the Net Asset Value of share class C with income (gross of tax) reinvested, including actual ongoing charges, excluding any entry and exit fees. Excess return is calculated geometrically Past performance is not necessarily a reliable indicator of current and future performance.*Performance greater than 1 year is annualised. Past performance is not a reliable indicator of current and future results. 21 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

22. Comparison of the JPMorgan Funds Global Socially Responsible Funds returns against MSCI World, MSCI ACWI and Dow Jones Sustainability 3 5 10 Q1 1 year years* years* years* SRI Fund Gross of fees -14.35 1.28 6.89 6.04 7.42 ECPI Ethical Index Global (Total Return Net) -17.37 -3.85 6.25 5.69 7.46 MSCI World -21.06 -10.39 1.92 3.25 6.57 MSCI ACWI -21.37 -11.26 1.50 2.85 5.88 Source: J.P. Morgan Asset Management as of 31 March 2020 in USD. *Performance greater than 1 year is annualised. All returns in USD. Movements in currency rates can adversely affect the return of your investment. SRI Fund = JPMorgan Funds Global Socially Responsible Fund. Gross fund returns are calculated from net returns by applying the fund total expense ratio (TER) which includes operating & administrative expenses (O&A). The O&A fees are accrued at the maximum rate, according to what is stated in the fund prospectus. Where the O&A fees incurred are actually lower than the accrual, this would lead to a minor overstatement of gross returns. Net returns are not impacted. Fund s Benchmark = ECPI Ethical Index Global (Total Return Net). MSCI ACWI = MSCI All Country World Index. Indices do not include fees or operating expenses and are not available for actual investment. Past performance is not a reliable indicator of current and future results. 22 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

23. Performance attribution JPMorgan Funds - Global Socially Responsible Fund for quarter ending 31 March 2020 Stock: 1.69 Sector: 1.33 ECPI Ethical Index Global (Total Return Net) Stock: 2.64 Region: 0.38 ECPI Ethical Index Global (Total Return Net) Attribution summary Attribution summary Benchmark Benchmark Sector attribution Region attribution Stock selection (%) 0.74 -0.04 0.47 0.22 0.17 0.23 0.28 0.07 0.00 -0.22 -0.23 Allocation (%) -0.17 0.58 0.04 0.15 0.12 0.05 -0.04 0.00 -0.01 0.09 -0.17 Impact (%) 0.56 0.54 0.51 0.37 0.29 0.29 0.24 0.07 -0.01 -0.13 -0.40 Stock selection (%) 1.71 1.60 0.27 0.00 -0.49 -0.46 Allocation (%) -0.01 -0.35 0.00 0.24 -0.02 -0.17 Impact (%) 1.70 1.25 0.27 0.24 -0.51 -0.63 Financials (o) Energy (u) Consumer Discretionary (o) Industrials (u) Information Technology (o) Health Care (u) Real Estate (u) Materials (o) Utilities (u) Consumer Staples (o) Communication Services (u) North America (u) Europe ex UK (o) Japan (u) Pacific ex Japan (u) Emerging Markets (u) United Kingdom (o) Source: Factset. (o) = overweight, (u) = underweight, (n) = neutral. Data is gross of fees in USD. Attribution results are for indicative purposes only. The portfolio is actively managed. Holdings, sector weights, allocations and leverage, as applicable, are subject to change at the discretion of the Investment Manager without notice. Past performance is not a reliable indicator of current and future results. 23 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

24. Performance attribution JPMorgan Funds - Global Socially Responsible Fund for quarter ending 31 March 2020 Stock: 1.69 Sector: 1.33 ECPI Ethical Index Global (Total Return Net) Attribution summary Benchmark Stock attribution Relative weight (%) Stock return (%) Impact (%) Relative weight (%) Stock return (%) Impact (%) Top 10 contributors Top 10 detractors JPMorgan Chase Not Held -35.00 0.33 Hess 1.15 -49.80 -0.35 Amazon.com 1.13 5.51 0.26 Taylor Wimpey 1.02 -43.13 -0.25 NVIDIA Corp 1.02 12.10 0.26 Legal & General Group 0.98 -40.12 -0.25 Novo Nordisk 1.11 5.03 0.23 HDFC Bank 0.98 -39.31 -0.24 Equinix Inc 0.46 4.31 0.22 Discover Fn Svc 0.47 -57.70 -0.23 Adyen 0.95 1.98 0.20 Tencent Holdings Not Held 1.76 -0.22 Eli Lilly & Co 0.11 7.38 0.16 Synchrony Finl 0.47 -55.02 -0.21 Delivery Hero 1.36 -5.85 0.14 St James's Place 0.77 -38.95 -0.19 ServiceNow 0.78 1.51 0.13 NXP Semiconductors 1.21 -39.04 -0.18 BioMarin Pharmaceutical 0.73 -0.06 0.12 Ameriprise Financial 0.77 -38.15 -0.15 Source: Factset. Data is gross of fees in USD. Attribution results are for indicative purposes only. The portfolio is actively managed. Holdings, sector weights, allocations and leverage, as applicable, are subject to change at the discretion of the Investment Manager without notice. Past performance is not a reliable indicator of current and future results. 24 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

25. Transactions JPMorgan Funds - Global Socially Responsible Fund for Quarter ending 31 March 2020 Absolute sales New purchases Eli Lilly Coca-Cola Equinix Vonovia Uber Tech Estee Lauder Adyen Zebra Technologies Walt Disney Netflix Muenchener Rueckversicher Marriott Norfolk Southern NXP Semiconductors SAP Source: J.P. Morgan Asset Management. The companies/securities above are shown for illustrative purposes only. The Fund is an actively managed portfolio, holdings, sector weights, allocations and leverage, as applicable are subject to change at the discretion of the Investment Manager without notice. 25 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

26. Performance attribution JPMorgan Funds - Global Socially Responsible Fund for 1 year ending 31 March 2020 Stock: 3.24 Sector: 1.75 ECPI Ethical Index Global (Total Return Net) Stock: 4.69 Region: 0.29 ECPI Ethical Index Global (Total Return Net) Allocation (%) -0.44 -0.07 0.52 0.05 -0.04 -0.20 Attribution summary Attribution summary Sector attribution Region attribution Benchmark Benchmark Stock selection (%) 1.05 0.61 0.60 -0.05 0.93 0.35 0.22 0.17 0.00 -0.27 -0.37 Allocation (%) -0.03 0.33 0.33 0.92 -0.22 0.06 0.01 0.04 -0.02 -0.10 -0.04 Impact (%) 1.01 0.94 0.93 0.87 0.71 0.41 0.23 0.20 -0.02 -0.37 -0.41 Stock selection (%) 3.12 1.35 0.00 0.43 -0.19 -0.02 Impact (%) 2.69 1.28 0.52 0.48 -0.23 -0.23 Consumer Discretionary (o) Information Technology (o) Industrials (u) Energy (u) Financials (o) Real Estate (u) Materials (o) Health Care (u) Utilities (u) Communication Services (u) Consumer Staples (n) Europe ex UK (o) North America (u) Pacific ex Japan (u) Japan (u) Emerging Markets (u) United Kingdom (o) Source: Factset. (o) = overweight, (u) = underweight, (n) = neutral. Data is gross of fees in USD. Attribution results are for indicative purposes only. The portfolio is actively managed. Holdings, sector weights, allocations and leverage, as applicable, are subject to change at the discretion of the Investment Manager without notice. Past performance is not a reliable indicator of current and future results. 26 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

27. Performance attribution JPMorgan Funds - Global Socially Responsible Fund for 1 year ending 31 March 2020 Stock: 3.24 Sector: 1.75 ECPI Ethical Index Global (Total Return Net) Attribution summary Benchmark Stock attribution Relative weight (%) Stock return (%) Impact (%) Relative weight (%) Stock return (%) Impact (%) Top 10 contributors Top 10 detractors Delivery Hero 0.95 57.80 0.62 Hess 1.46 -43.63 -0.52 LSE Group 1.38 47.48 0.56 HDFC Bank 1.11 -33.20 -0.35 Zoetis 1.52 15.80 0.29 Alimentation Couche-Tard 1.52 -23.55 -0.35 NVIDIA Corp 0.83 47.32 0.28 Netflix 0.62 3.68 -0.31 ASML Holding 0.70 43.93 0.26 St James's Place 0.73 -34.95 -0.26 Cisco Systems Not Held -25.19 0.25 Legal & General Group 0.94 -28.57 -0.26 Eli Lilly & Co -0.31 7.38 0.25 TD Ameritrade 0.74 3.10 -0.26 Equinix Inc -0.04 4.31 0.23 Discover Fn Svc 0.58 -48.77 -0.25 Adyen 0.24 1.98 0.23 SLM 0.93 -26.51 -0.25 Taiwan Semicon Mfg 0.62 21.92 0.22 Synchrony Finl 0.80 -48.28 -0.23 Source: Factset. Data is gross of fees in USD. Attribution results are for indicative purposes only. The portfolio is actively managed. Holdings, sector weights, allocations and leverage, as applicable, are subject to change at the discretion of the Investment Manager without notice. Past performance is not a reliable indicator of current and future results. 27 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

28. Appendix 28 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

29. E-Capital Partners Indices approach Broad Coverage The universe of allowed constituents is broad and global (3,740 stocks as of 28th February 2017), allowing us to build a well balanced fund. Screening Criteria negative and positive screening adopted, criteria are consistent and measurable Documented Decisions Research reports describe the work undertaken and the reason for the decision Length of time established ECPI started in 1996. ECPI have been the ethical assessors for the fund since 7th January 2006 (previously FTSE4Good). Brand and Global Recognition Need for suppliers to be recognised and highly regarded among Investors 29 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

30. ECPI: Rigorous and disciplined process Annual Report Sustainability Report Investors Presentation Selection, processing and approval by research team Final check and sign-off by senior team members First Level Analysis Selection by qualified data provider ECPI Website Second Level Analysis ESG Rating Media News International Networks ... Local NGOs and Blog Source: Bloomberg ECPS / Reuters: ECAPITAL / www.ecpigroup.com (March 2015), ECPI: E-Capital Partners Indices 30 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

31. Investment objective and main risks JPMorgan Funds - Global Socially Responsible Fund Investment Risks Risks from the Sub-Fund s techniques and securities INVESTMENT OBJECTIVE Techniques Hedging Security exclusion Securities Equities To provide long-term capital growth by investing primarily in companies globally that the Investment Manager believes to be socially responsible. Other associated risksFurther risks the Sub-Fund is exposed to from its use of the techniques and securities above MAIN RISKS The Sub-Fund is subject to Investment risks and Other associated risks from the techniques and securities it uses to seek to achieve its objective. Currency Market The table on the right explains how these risks relate to each other and the Outcomes to the Shareholder that could affect an investment in the Sub-Fund. Outcomes to the Shareholder Potential impact of the risks above Loss Shareholders could lose some or all of their money. Volatility Shares of the Sub- Fund will fluctuate in value. Failure to meet the Sub- Fund s objective. Investors should also read Risk Descriptions in the Prospectus for a full description of each risk. 31 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

32. Additional information The number of investmentprofessionals includes portfolio managers, research analysts, traders and investment specialists with VP title and above. Sourced from J.P. Morgan Asset Management; as of December 31, 2019. Global research budget data is updated annually, as of December 31, 2019. Serving 59% of the world s largest pension plans, sovereign wealth funds and central banks is sourced from IMF, Sovereigns Wealth Fund Institute and Towers Watson, latest available data as of December 31, 2019. Markets Choice Awards : a peer-based survey of exchanges, sell-side desks, institutional buy-side investors, hedge funds and technology providers. As of 2018. Best Data Management Initiative and Best Global Deployment : American Financial Technology Awards, as of December 2018. The equity funds with a 4/5 star rating analysis is sourced from Morningstar for all funds with the exception of Japan-domiciled funds; Nomura was used for Japan-domiciled funds. The analysis includes both Global Investment Management and Global Wealth Management open-ended funds that are rated by the aforementioned sources. The share class with the highest Morningstar star rating represents its respective fund. The Nomura star rating represents the aggregate fund. Other share classes may have different performance characteristics and may have different ratings; the highest rated share class may not be available to all investors. All star ratings sourced from Morningstar reflect the Morningstar Overall RatingTM. For Japan-domiciled funds, the star rating is based on the Nomura 3-year star rating. Funds with fewer than three years of history are not rated by Morningstar nor Nomura and hence are excluded from this analysis. Other funds that do not have a rating are also excluded from this analysis. Ratings are based on past performance and are not indicative of future results 32 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION

33. J.P. Morgan Asset Management FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY NOT FOR RETAIL USE OR DISTRIBUTION This is a marketing communication and as such the views contained herein do not form part of an offer, nor are they to be taken as advice or a recommendation, to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research in this document has been obtained and may have been acted upon by J.P. Morgan Asset Management for its own purpose. The results of such research are being made available as additional information and do not necessarily reflect the views of J.P. Morgan Asset Management. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are, unless otherwise stated, J.P. Morgan Asset Management s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all inclusive and are not guaranteed as to accuracy. They may be subject to change without reference or notification to you. It should be noted that the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Changes in exchange rates may have an adverse effect on the value, price or income of the products or underlying overseas investments. Past performance and yield are not a reliable indicator of current and future results. There is no guarantee that any forecast made will come to pass. Furthermore, whilst it is the intention to achieve the investment objective of the investment products, there can be no assurance that those objectives will be met. J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our EMEA Privacy Policy www.jpmorgan.com/emea- privacy-policy As the product may not be authorised or its offering may be restricted in your jurisdiction, it is the responsibility of every reader to satisfy himself as to the full observance of the laws and regulations of the relevant jurisdiction. Prior to any application investors are advised to take all necessary legal, regulatory and tax advice on the consequences of an investment in the products. Shares or other interests may not be offered to, or purchased, directly or indirectly by US persons. All transactions should be based on the latest available Prospectus, the Key Investor Information Document (KIID) and any applicable local offering document. These documents together with the annual report, semi-annual report and the articles of incorporation for the Luxembourg domiciled products are available free of charge upon request from JPMorgan Asset Management (Europe) S. r.l., 6 route de Tr ves, L-2633 Senningerberg, Grand Duchy of Luxembourg, your financial adviser or your J.P. Morgan Asset Management regional contact. In Switzerland, JPMorgan Asset Management (Switzerland) LLC, Dreik nigstrasse 37, 8002 Zurich, acts as Swiss representative of the funds and J.P. Morgan (Suisse) SA, 8 Rue de la Conf d ration, 1204 Geneva, as paying agent of the funds. JPMorgan Asset Management (Switzerland) LLC herewith informs investors that with respect to its distribution activities in and from Switzerland it receives commissions pursuant to Art. 34 para. 2bis of the Swiss Collective Investment Schemes Ordinance dated 22 November 2006. These commissions are paid out of the management fee as defined in the fund documentation. Further information regarding these commissions, including their calculation method, may be obtained upon written request from JPMorgan Asset Management (Switzerland) LLC. This communication is issued in Europe (excluding UK) by JPMorgan Asset Management (Europe) S. r.l., 6 route de Tr ves, L-2633 Senningerberg, Grand Duchy of Luxembourg, R.C.S. Luxembourg B27900, corporate capital EUR 10.000.000. This communication is issued in the UK by JPMorgan Asset Management (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. Registered in England No. 01161446. Registered address: 25 Bank Street, Canary Wharf, London E14 5JP. Material ID: 0903c02a82254038 33 | FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY. NOT FOR RETAIL USE OR DISTRIBUTION