Portfolio Changes

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

(the "Company" or "JARA")

Portfolio Changes

Legal Entity Identifier: 549300D8JHZTH6GI8F97

JARA has received notification of a further redemption receipt from its private real estate allocation. This redemption amounts to $1.5m and follows on from the previously received $3.7m redemption.

Across the Company's private real estate exposure, the overall occupancy is strong at 94.4%. The look-through debt profile remains healthy at 33% loan-to-value, with less than 1% of debt maturing for the remainder of 2023 and less than 15% maturing in 2024.

Leasing and re-leasing activities have also exhibited positive trends across the portfolio. JARA's U.S. private real estate exposure is on track to deliver over 10% net operating income growth this year, surpassing its growth in 2022 by over 4%. In the underlying private strategies, five recent Asia-Pacific leasing activities made during the second quarter of this year, applied rental rate increases ranging from 5% to 27%; averaging 17% higher than prior agreements.

The redemptions have reduced the private real estate allocation from 40% to 37% over the past year.  The portfolio management team will continue to monitor the market and make further adjustments as needed.

20 September 2023

Emma Lamb

JPMorgan Funds Limited - Company Secretary

Telephone 0207 742 4000

Notes

The Company aims to provide holders of the Ordinary Shares with a stable income and capital appreciation, measured on a constant currency basis, through exposure to a globally diversified portfolio of Core Real Assets in accordance with the Company's investment policy. The Company obtains exposure to Core Real Assets through various real asset strategies, namely: Global Infrastructure, Global Real Estate, Global Transport and Global Liquid Real Assets. J.P. Morgan's Alternative Solutions Group has the primary responsibility for managing the Company's portfolio.