International Research Enhanced Equity Fund

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

JPMorgan Funds statistics report: International Research Enhanced Equity Fund

Offered on a limited basis - A Shares Data as of June 30, 2021

jpmorganfunds.com Table of contents

PERFORMANCE Performance at NAV 3 Calendar year returns 3 EXPENSES Annual expenses 4 CHARACTERISTICS Fund statistics 5 HOLDINGS Top 10 holdings (%) 6 MARKET CAP Market cap breakdown (%) 7 POSITIONING Country breakdown (%) 8 Region breakdown (%) 8 Sector breakdown (%) 8 ATTRIBUTION Top 30 holdings by contribution 9 Bottom 30 holdings by contribution 10 Attribution by sector 11 Attribution by region 12 DISCLOSURE Disclosures 13

2 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Performance Data as of June 30, 2021 AVERAGE ANNUAL TOTAL RETURNS (as of 6/30/2021) 1 month 3 months YTD 1 yr 3 yrs 5 yrs 10 yrs Share class - inception date | share class # (%) (%) (%) (%) (%) (%) (%) A Shares - 4/23/1993 | 3167 -1.62 5.50 9.00 30.21 6.87 9.27 4.87 with max 5.25% sales charge -6.80 -0.05 3.29 23.37 4.96 8.10 4.31 I Shares - 10/28/1992 | 3132 -1.61 5.52 9.12 30.54 7.13 9.54 5.13 R6 Shares - 11/1/2017 | 27391 -1.57 5.60 9.21 30.69 7.24 9.63 5.17 MSCI EAFE Index (net of foreign withholding taxes) -1.13 5.17 8.83 32.35 8.27 10.28 5.89 The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Current performance may be higher or lower than the performance data shown. For performance current to the most recent month-end, please call 1-800-480-4111.

Calendar year returns 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 A Shares - 4/23/1993 | 3167 -15.63 19.46 20.31 -5.55 0.54 1.84 22.90 -14.94 21.49 5.06 I Shares - 10/28/1992 | 3132 -15.43 19.70 20.71 -5.33 0.79 2.07 23.25 -14.77 21.84 5.31 R6 Shares - 11/1/2017 | 2739 -15.43 19.70 20.71 -5.33 0.79 2.07 23.23 -14.66 21.96 5.41 MSCI EAFE Index (net of foreign withholding taxes) -12.14 17.32 22.78 -4.90 -0.81 1.00 25.03 -13.79 22.01 7.82

3 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Expenses Data as of June 30, 2021

Annual expenses A Shares I Shares R6 Shares Gross expense (%) 0.84 0.57 0.31 Net expense (%) 0.60 0.35 0.25

4 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Characteristics Data as of June 30, 2021

Fund statistics Fund Active share (%) 46.89 Fund assets (in billions) 5.01 Number of securities 209

5 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Holdings Data as of June 30, 2021

Top 10 holdings (%) Holdings Country Sector % Nestle SA (Registered) Switzerland Consumer Staples 2.67 ASML Holding NV Netherlands Information Technology 2.52 Roche Holding AG Switzerland Health Care 2.25 Novartis AG (Registered) Switzerland Health Care 1.77 LVMH Moet Hennessy Louis Vuitton SE France Consumer Discretionary 1.75 Novo Nordisk A/S, Class B Denmark Health Care 1.59 Toyota Motor Corp. Japan Consumer Discretionary 1.44 L'Oreal SA France Consumer Staples 1.27 Schneider Electric SE United States Industrials 1.12 Diageo plc United Kingdom Consumer Staples 1.11

6 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Market cap Data as of June 30, 2021

Market cap breakdown (%)* Fund Small Cap (<$2 Billion) 0.00 Small to Mid Cap ($2-$10 Billion) 4.49 Mid to Large Cap ($10-$100 Billion) 59.55 Large Cap (>$100 Billion) 32.81 Cash 3.14 *Due to rounding, values may not total 100%.

7 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Positioning Data as of June 30, 2021

Country breakdown (%)* Region breakdown (%)* Sector breakdown (%)* Fund Fund Fund Japan 24.12 Europe 60.73 Financials 17.82 France 11.10 Japan 24.12 Industrials 15.67 United Kingdom 11.05 Pacific ex Japan 9.42 Consumer Discretionary 12.13 Switzerland 10.55 North America 2.34 Health Care 11.46 Germany 9.56 Emerging Markets 0.67 Consumer Staples 10.57 Netherlands 6.91 Cash & Equivalents 2.73 Information Technology 9.00 Australia 6.20 *Due to rounding, values may not total 100%. Materials 7.75 Denmark 2.86 Utilities 3.86 Short-Term Investments 2.73 Communication Services 3.81 Sweden 2.63 Energy 2.94 Spain 2.58 Short-Term Investments 2.73 United States 2.34 Real Estate 2.27 Hong Kong 2.25 *Due to rounding, values may not total 100%. Italy 1.09 Singapore 0.98 Ireland 0.80 China 0.67 Austria 0.55 Belgium 0.53 Finland 0.29 Luxembourg 0.14 Norway 0.10 *Due to rounding, values may not total 100%.

8 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Attribution Data as of June 30, 2021

Top 30 holdings by contribution

Fund Index Attribution analysis Average Total Contribution Average Total Contribution Variation in Selection + Allocation Total Group weight return to return weight return to return average weight interaction effect effect Veolia Environnement 0.86 19.92 0.17 0.10 19.92 0.02 0.76 0.15 0.15 Hitachi 0.90 26.56 0.21 0.29 26.56 0.07 0.61 0.12 0.12 Novo Nordisk 1.51 23.38 0.31 0.78 23.38 0.16 0.73 0.10 0.10 Lonza Group 0.80 26.92 0.19 0.28 26.92 0.07 0.52 0.08 0.08 Deutsche Post 0.82 26.25 0.19 0.37 26.25 0.08 0.46 0.07 0.07 Carlsberg 0.69 21.04 0.13 0.11 21.04 0.02 0.58 0.06 0.06 Rio Tinto 1.36 11.17 0.14 0.76 8.76 0.06 0.60 0.06 0.06 ASML Holding 2.46 13.36 0.31 1.63 13.36 0.21 0.82 0.06 0.06 Deutsche Telekom 0.86 8.46 0.07 0.40 8.46 0.03 0.46 0.06 0.06 Daiichi Sankyo 0.10 -26.08 -0.03 0.25 -26.08 -0.08 -0.15 0.05 0.05 Akzo Nobel 0.81 11.77 0.09 0.14 11.77 0.02 0.67 0.05 0.05 Ferguson 0.55 16.09 0.07 0.18 16.09 0.03 0.37 0.05 0.05 Goodman Group 0.57 15.73 0.08 0.15 15.73 0.02 0.42 0.05 0.05 Roche Holding 2.13 16.18 0.32 1.51 16.29 0.23 0.62 0.04 0.04 L'Oreal 1.26 17.05 0.19 0.64 17.05 0.10 0.62 0.04 0.04 Barclays - - - 0.26 -7.84 -0.02 -0.26 0.04 0.04 Komatsu - - - 0.15 -19.37 -0.03 -0.15 0.04 0.04 Keyence 0.92 11.05 0.10 0.53 11.05 0.06 0.39 0.03 0.03 NEXON - - - 0.08 -31.28 -0.03 -0.08 0.03 0.03 HOYA 0.71 12.76 0.09 0.28 12.76 0.03 0.43 0.03 0.03 adidas 0.84 19.90 0.16 0.38 19.90 0.07 0.46 0.03 0.03 Henkel AG - - - 0.18 -5.21 -0.01 -0.18 0.03 0.03 Lloyds Banking Group 0.70 11.37 0.08 0.27 11.37 0.03 0.43 0.03 0.03 Flutter Entertainment - - - 0.19 -15.94 -0.03 -0.19 0.03 0.03 Erste Group Bank 0.59 9.52 0.06 0.06 9.52 0.01 0.52 0.03 0.03 Panasonic - - - 0.15 -10.09 -0.02 -0.15 0.03 0.03 SGS 0.44 8.39 0.03 0.11 8.39 0.01 0.33 0.03 0.03 Kyowa Kirin 0.34 19.10 0.06 0.05 19.10 0.01 0.29 0.03 0.03 AEON - - - 0.11 -9.92 -0.01 -0.11 0.03 0.03 Diageo 1.11 15.92 0.16 0.64 15.92 0.09 0.47 0.03 0.03

9 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Attribution Data as of June 30, 2021

Bottom 30 holdings by contribution

Fund Index Attribution analysis Average Total Contribution Average Total Contribution Variation in Selection + Allocation Total Group weight return to return weight return to return average weight interaction effect effect Muenchener Rueckversicher 0.60 -8.60 -0.05 0.24 -8.60 -0.02 0.36 -0.03 -0.03 Taylor Wimpey 0.33 -9.80 -0.02 0.05 -9.80 - 0.28 -0.03 -0.03 Iberdrola 1.18 -5.57 -0.05 0.47 -5.57 -0.02 0.71 -0.03 -0.03 Fujitsu - - - 0.19 29.43 0.05 -0.19 -0.03 -0.03 Prosus 0.51 -12.22 -0.06 0.31 -12.22 -0.04 0.21 -0.03 -0.03 ITOCHU 0.43 -11.18 -0.05 0.23 -11.18 -0.03 0.20 -0.03 -0.03 FUJIFILM Holdings - - - 0.14 24.83 0.03 -0.14 -0.03 -0.03 Lasertec - - - 0.08 48.23 0.03 -0.08 -0.03 -0.03 DAIKIN INDUSTRIES 0.59 -7.71 -0.04 0.29 -7.71 -0.02 0.30 -0.03 -0.03 Eisai - - - 0.11 46.61 0.04 -0.11 -0.03 -0.03 ABB - - - 0.35 11.91 0.04 -0.35 -0.03 -0.03 National Grid - - - 0.27 10.43 0.03 -0.27 -0.03 -0.03 Kubota 0.40 -10.64 -0.04 0.14 -10.64 -0.01 0.26 -0.04 -0.04 Standard Chartered 0.41 -7.59 -0.03 0.11 -7.59 -0.01 0.30 -0.04 -0.04 Tesco 0.44 0.11 - 0.14 0.11 - 0.30 -0.04 -0.04 Sumitomo Mitsui Financial 0.69 -4.84 -0.03 0.28 -4.84 -0.01 0.41 -0.04 -0.04 Reckitt Benckiser Group 0.82 0.15 - 0.38 0.15 - 0.44 -0.04 -0.04 Cwth Bk Australia 0.41 14.33 0.05 0.76 14.33 0.10 -0.35 -0.04 -0.04 Hermes International - - - 0.25 31.59 0.07 -0.25 -0.04 -0.04 Mitsubishi 0.70 -3.69 -0.03 0.21 -3.69 -0.01 0.49 -0.04 -0.04 Nabtesco 0.28 -16.73 -0.05 0.03 -16.73 - 0.25 -0.05 -0.05 Kao 0.51 -6.12 -0.03 0.18 -6.12 -0.01 0.33 -0.05 -0.05 Infineon Technologies 0.87 -5.61 -0.05 0.31 -5.61 -0.02 0.56 -0.05 -0.05 Sumitomo Metal Mining 0.47 -9.57 -0.04 0.06 -9.57 -0.01 0.41 -0.06 -0.06 Orsted 0.62 -13.32 -0.09 0.17 -13.32 -0.02 0.45 -0.06 -0.06 Ono Pharmaceutical 0.29 -14.47 -0.05 0.05 -14.47 -0.01 0.24 -0.06 -0.06 Ryohin Keikaku 0.26 -11.39 -0.04 0.03 -11.39 - 0.23 -0.06 -0.06 SKF AB 0.55 -10.52 -0.06 0.06 -10.52 -0.01 0.49 -0.07 -0.07 Nitori 0.39 -8.61 -0.04 0.08 -8.61 -0.01 0.31 -0.07 -0.07 Volkswagen AG 0.85 -10.69 -0.09 0.36 -10.50 -0.04 0.49 -0.07 -0.07

10 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Attribution Data as of June 30, 2021

Attribution by sector

Fund Index Attribution analysis Average Total Contribution Average Total Contribution Variation in Selection + Allocation Total Group weight* return to return weight* return to return average weight interaction effect effect Pharm/Medtech 10.43 11.76 1.15 11.26 9.35 1.00 -0.83 0.23 -0.02 0.21 Consumer Staples 10.03 11.11 1.07 9.33 9.33 0.84 0.70 0.17 0.03 0.20 Energy 3.97 8.98 0.34 3.52 4.62 0.16 0.44 0.17 - 0.17 Property 2.26 9.35 0.20 3.04 5.56 0.16 -0.78 0.08 -0.01 0.08 Technology - Software 2.61 13.46 0.33 3.00 9.94 0.29 -0.39 0.09 -0.02 0.07 Telecommunications 2.60 -1.08 -0.01 3.53 -1.11 -0.03 -0.93 - 0.06 0.06 Consumer Cyclical & Services 3.19 0.30 0.02 4.17 0.73 0.04 -0.98 -0.01 0.04 0.03 Media 3.04 2.55 0.07 2.86 1.97 0.06 0.18 0.01 - 0.01 Automobiles & Auto Part 4.61 4.53 0.19 4.31 4.31 0.18 0.30 0.01 - 0.01 Banks 10.47 4.22 0.46 9.85 4.14 0.42 0.62 0.01 -0.01 - Transportation 2.27 10.01 0.22 2.43 9.82 0.23 -0.16 - -0.01 - Health Services & Systems - - - 0.49 7.81 0.04 -0.49 - -0.01 -0.01 Technology - Semi & Hardware 7.33 3.69 0.27 6.45 3.86 0.25 0.89 -0.02 -0.01 -0.03 Retail 6.22 11.53 0.68 6.19 12.59 0.74 0.03 -0.06 - -0.06 Utilities 4.13 -1.92 -0.06 3.69 -1.11 -0.02 0.44 -0.03 -0.03 -0.07 Basic Industries 9.33 3.52 0.34 8.87 4.22 0.39 0.46 -0.07 - -0.07 Financial Services 2.64 5.20 0.15 3.11 7.66 0.23 -0.47 -0.06 -0.02 -0.08 Industrial Cyclical 8.75 0.74 0.10 8.90 1.98 0.20 -0.15 -0.11 - -0.10 Insurance 6.12 -1.77 -0.07 5.02 -0.46 - 1.10 -0.09 -0.06 -0.15 Total 100.00 5.43 5.43 100.00 5.17 5.17 - 0.32 -0.06 0.26 *Due to rounding, values may not total 100%.

11 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND Attribution Data as of June 30, 2021

Attribution by region

12 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND RISKS ASSOCIATED WITH INVESTING IN THE FUND: International investing has a greater degree of risk and increased volatility due to political and economic instability of some overseas markets. Changes in currency exchange rates and different accounting and taxation policies outside the U.S. can affect returns. RETURNS: 1The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information. ANNUAL OPERATING EXPENSES: The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 0.60% for A Shares, 0.25% for R6 Shares and 0.35% for I Shares of the average daily net assets. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser has contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the fees and expenses of the affiliated money market funds incurred by the Fund because of the Fund’s investment in such money market funds. This waiver is in effect through 2/28/2022 for A Shares, 2/28/2022 for R6 Shares and 2/28/2022 for I Shares, at which time the adviser and/or its affiliates will determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements. PORTFOLIO STATISTICS: Active Share represents the difference between a fund’s holdings and the benchmark’s holdings. It is calculated by taking the sum of the absolute value of the weighting of the fund’s holdings versus the weighting of the benchmark’s holdings excluding derivatives but including cash and cash equivalents. If a holding of the fund isn’t a holding of the benchmark, the weighting of the benchmark is assumed to be zero. Similarly, if the benchmark includes a holding that isn’t a holding of the fund, the weighting of the fund is assumed to be zero. HOLDINGS: The top 10 holdings listed exclude cash and money markets. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable. INDEXES DEFINED: Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index. The MSCI EAFE (Europe, Australia, Far East) Index (net of foreign withholding taxes) is a free float-adjusted market capitalization weighted index measuring equity market performance of developed markets, excluding the U.S. and Canada. ATTRIBUTION: Value added to a portfolio’s return is commonly referred to as the active management or total effect. The total effect is the difference between the portfolio return and benchmark return. It is also the sum of the following investment decisions or effects: • Allocation Effect – measures an investment manager’s ability to effectively allocate their portfolio’s assets to various segments. The allocation effect determines whether the overweighting or underweighting of segments relative to a benchmark contributes positively or negatively to the overall portfolio return. • Selection Effect – measures the manager’s ability to select securities within a given segment relative to a benchmark. The over or underperformance of the portfolio is weighted by the benchmark weight, therefore, selection is not affected by the manager’s allocation to the segment. • Interaction Effect – measures the combined impact of a manager’s selection and allocation decisions within a segment. If a manager had superior selection and overweighted that particular segment, the interaction effect is positive, whereas, if an investment manager had superior selection, but underweighted that segment, the interaction effect is negative. The total effect can be used to determine the amount an investment manager has added to a portfolio’s return. If the total effect is positive, the manager has contributed positively to the portfolio’s return. If the total effect is negative, the manager has not contributed positively to the portfolio’s return.

13 STATISTICS REPORT: INTERNATIONAL RESEARCH ENHANCED EQUITY FUND NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Contact JPMorgan Distribution Services, Inc. at 1-800-480-4111 for a fund prospectus. You can also visit us at www.jpmorganfunds.com. Investors should carefully consider the investment objectives and risks as well as charges and expenses of the mutual fund before investing. The prospectus contains this and other information about the mutual fund. Read the prospectus carefully before investing. Total return figures (for the fund and any index quoted) assume payment of fees and reinvestment of dividends (after the highest applicable foreign withholding tax) and distributions. Without fee waivers, fund returns would have been lower. Due to rounding, some values may not total 100%. J.P. Morgan Funds are distributed by JPMorgan Distribution Services, Inc., which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorgan Distribution Services, Inc. is a member of FINRA. J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co and its affiliates worldwide. If you are a person with a disability and need additional support in viewing the material, please call us at 1-800-343-1113 for assistance. ©JPMorgan Chase & Co., July 2021

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