Change to the benchmark for certain Sub-Funds in JPMorgan Funds

Due to the expected discontinuation of the current benchmarks, with effect from 1 July 2021 the benchmark for the following Sub- Funds will change as described below.

FUND SHARE CLASS ISIN CURRENT BENCHMARK PROPOSED BENCHMARK LU1001747408* LU1176911797* LU1176912175*

LU1001747820* ICE BofA ESTR Overnight Rate Index Total Return ICE 1 Month EUR LIBOR LU1001748398* in EUR LU1176912761* JPMorgan Funds - LU1001748711* Europe Equity Absolute Alpha Fund LU1814671423* LU1001747747* ICE 1 Month CHF LIBOR ICE BofA SARON Overnight Rate Index LU1001748638* ICE 1 Month GBP LIBOR ICE BofA SONIA Overnight Rate Index LU1176911953*

LU1092523874* ICE BofA SOFR Overnight Rate Index Total Return ICE 1 Month USD LIBOR LU1112015109* in USD LU1001747663* STIBOR 1 Month Offered Rate STIBOR Tomorrow Next Offered Rate

LU0599213476* LU0599213807* LU0599213989* LU1032875376 LU1061846231* ICE BofA SOFR Overnight Rate Index Total Return LU1162084740 ICE 1 Month USD LIBOR in USD LU1162085044 LU1162085390 LU1162085713 LU1200241591* LU1814671001* LU1162085630 ICE 1 Month GBP LIBOR ICE BofA SONIA Overnight Rate Index

JPMorgan Funds - LU0599213559* Emerging Markets LU0599214011* Strategic Bond Fund LU0891473521 LU0953163366* LU0976567890* LU1003273171* ICE BofA ESTR Overnight Rate Index Total ICE 1 Month EUR LIBOR LU1016062520* Return in EUR LU1049748566* LU1162084823 LU1216650850 LU1528678912 LU1814670961* ICE BofA ESTR Overnight Rate Index Total Return LU2131364536 ICE 1 Month EUR LIBOR in EUR LU1089975160* ICE 1 Month CHF LIBOR ICE BofA SARON Overnight Rate Index FUND SHARE CLASS ISIN CURRENT BENCHMARK PROPOSED BENCHMARK LU2065735628* LU2065736196*

LU2065735974* ICE BofA SOFR Overnight Rate Index Total Return ICE 1 Month USD LIBOR LU2065736519* in USD LU2346514479* LU2330289088* LU2264168381* ICE BofA SOFR Overnight Rate Index Total Return LU2065736352* ICE 1 Month USD LIBOR Hedged to SEK in USD Hedged to SEK LU2065736782* JPMorgan Funds - Multi- Manager Sustainable LU2065735891* Long-Short Fund LU2065736279* ICE BofA SOFR Overnight Rate Index Total Return ICE 1 Month USD LIBOR Hedged to EUR LU2065736436* in USD Hedged to EUR LU2346514396* ICE BofA SOFR Overnight Rate Index Total LU2346514552* ICE 1 Month USD LIBOR Return in USD ICE BofA SOFR Overnight Rate Index Total Return LU2065736600* ICE 1 Month USD LIBOR Hedged to EUR in USD Hedged to EUR LU2100900963* ICE BofA SOFR Overnight Rate Index Total Return LU2100901003* ICE 1 Month USD LIBOR Hedged to CHF in USD Hedged to CHF LU2100901185*

LU1297691815* LU1303364423*

LU1297692201* ICE BofA SOFR Overnight Rate Index Total Return ICE 1 Month USD LIBOR LU1303365073* in USD LU1303365743* LU1440645007* LU1303364779* STIBOR 1 Month Offered Rate STIBOR Tomorrow Next Offered Rate LU1651874668* ICE 1 Month JPY LIBOR ICE BofA TONAR Overnight Rate Index LU1847692552* JPMorgan Funds - US Opportunistic Long- LU1303364936* Short Equity Fund ICE 1 Month GBP LIBOR ICE BofA SONIA Overnight Rate Index LU2334864779* LU1297692037* LU1303364340* LU1297692466*

LU1303365156* ICE BofA ESTR Overnight Rate Index Total Return ICE 1 Month EUR LIBOR LU1303365404* in EUR LU1303366717* LU1931928821* LU1303363532* FUND SHARE CLASS ISIN CURRENT BENCHMARK PROPOSED BENCHMARK LU0875415688 LU0875417114 ICE BofA SOFR Overnight Rate Index Total Return LU0875418195 ICE 1 Month USD LIBOR in USD LU0875419672 LU0875418518

LU0875415845 ICE BofA SOFR Overnight Rate Index Total Return ICE 1 Month USD LIBOR Hedged to EUR LU0875417387 in USD Hedged to EUR

LU0875418351 ICE BofA SOFR Overnight Rate Index Total Return ICE 1 Month USD LIBOR Hedged to EUR in USD Hedged to EUR JPMorgan Funds - LU0875419839 Diversified Risk Fund LU1533169295

LU2243042343 ICE BofA SOFR Overnight Rate Index Total Return ICE 1 Month USD LIBOR Hedged to GBP LU2243042855 in USD Hedged to GBP LU2243044125 ICE BofA SOFR Overnight Rate Index Total Return LU0875416223 ICE 1 Month USD LIBOR Hedged to SEK in USD Hedged to SEK ICE BofA SOFR Overnight Rate Index Total Return LU1662733408 ICE 1 Month USD LIBOR Hedged to CHF in USD Hedged to CHF ICE BofA SOFR Overnight Rate Index Total Return LU2243043077 ICE 1 Month USD LIBOR Hedged to JPY in USD Hedged to JPY

LU2098885051 LU1303367103 LU1331071263 LU1303367798

LU1303368259 ICE BofA SOFR Overnight Rate Index Total Return ICE 1 Month USD LIBOR LU2264168464 in USD LU1303368929 LU2050536973 LU2053047200 LU1303369067 LU1303367525

LU1303368176 ICE BofA SOFR Overnight Rate Index Total Return ICE 1 month USD LIBOR Hedged to CHF LU1327549181 in USD Hedged to CHF LU2050537435 LU1303367368 JPMorgan Funds - Multi- LU1303367871 Manager Alternatives Fund LU1303368333 LU1303368507 ICE BofA SOFR Overnight Rate Index Total Return ICE 1 month USD LIBOR Hedged to EUR LU1931928748 in USD Hedged to EUR LU1327549264 LU2050537195 LU2053047382 LU1303367954 LU2309826431 ICE BofA SOFR Overnight Rate Index Total Return LU2264168621 ICE 1 month USD LIBOR Hedged to GBP in USD Hedged to GBP LU1327549009 LU2053047895 ICE BofA SOFR Overnight Rate Index Total Return LU1746265377 ICE 1 month USD LIBOR Hedged to NZD in USD Hedged to NZD LU1303367442 ICE BofA SOFR Overnight Rate Index Total Return LU1984714615 ICE 1 month USD LIBOR Hedged to SEK in USD Hedged to SEK LU1327549348 The benchmark changes do not affect the investment objectives of the Sub-Funds or how the Sub-Funds will be managed by the Investment Manager.

The change will be reflected in the Sub-Funds’ Prospectus at the next available opportunity. Should you have any questions about the changes being made or any other aspect of JP Morgan Funds please contact the Registered Office of the Sub-Funds or your usual local representative. Further details on the LIBOR transition can be found on our website at am.jpmorgan.com/lu/libor

*Denotes share classes with performance fees

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