Dividend Declaration and Update

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

(the "Company" or "JARA")

DIVIDEND DECLARATION AND UPDATE

Legal Entity Identifier: 549300D8JHZTH6GI8F97

Information disclosed in accordance with DTR 6.1.13

Second Quarterly Interim Dividend

The Directors have declared a second quarterly interim dividend of 0.75p per share, to be paid on 28th May 2020 to shareholders on the register as at the close of business on 1st May 2020. The ex-dividend date will be 30th April 2020. The Company's first quarterly dividend of 0.75 pence per share was paid on 27th February 2020.

· As detailed in the Prospectus, the Company is targeting a dividend yield on the Ordinary Shares of 2% to 3%. (on the basis of the Initial Issue Price), in the first 12 months from the date of Initial Admission. Post this second dividend, the Company will have paid 1.5p per share since its 24th September 2019 IPO and remains on track to meet its dividend target.

· The Company has so far invested approximately 40% of the proceeds arising from its IPO and from subsequent share issuance. The current turmoil in financial markets has meant capital has been drawn down slower than originally intended, but we remain on course be in fully invested at or around 12 months from IPO as stated in the Prospectus. Importantly, this does not impact the Company's long term return assumptions and may in fact provide a benefit.

· In the short term, due to the fall in money market rates, the interest income which the Company is receiving on its near cash instruments has declined as rate cuts in response to the coronavirus pandemic have reduced the yields available on these instruments.

· While, in the short term, this means the Company's liquidity is higher than planned, the Manager views this as a net positive as it provides the opportunity to deploy cash into investments at lower prices, and therefore higher yields, providing longer term support to the dividend.

These effects mean there is a short term reduction in the income account and, until further capital is drawn into the underlying strategies, the Directors intend to maintain the current level of dividend payments, supplementing the Company's earnings by using the reserves accumulated in the share premium account which, following payment of the second interim dividend, will stand at approximately 1.62 pence per share. The Directors therefore see no immediate threat to the level of quarterly dividends being paid, but they recognise that, in the longer term, their ability to maintain and grow the dividend will depend on the rate at which the fund can invest and in the continuing success of the underlying strategies.

In summary, despite current market conditions, with the proposed drawdown profile of the underlying strategies, the Company remains on track to hit full deployment at or around the 12 month point, as outlined in the Prospectus. Importantly, given the growth of JARA and reduction in fees and ongoing costs, we remain comfortably able to achieve the long term target of 4% - 6% income on issue price for the second 12 month period and current market conditions could allow a potentially attractive entry point for the Company's capital to help support the long term total returns of 7% - 9%.

In due course, an update will be provided to investors on the progress of the Company's investment portfolio.

23rd April 2020

For further information:

Alison Vincent

JPMorgan Funds Limited

Company Secretary

020 7742 4000