Monthly Portfolio Update

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

("JARA" or the "Company")

MONTHLY PORTFOLIO UPDATE

Legal Entity Identifier: 549300D8JHZTH6GI8F97

Net Asset Value

The Company's unaudited net asset value ('NAV') as at 31st December 2025 was 94.09 pence per share (30th November 2025 NAV: 95.42 pence per share), a decrease of 1.4%. The Company's share price as at 31st December 2025 was 76.70 pence and the discount to NAV was 18.5%.

An analysis of the components to this NAV, and the relevant dates for their valuation, are provided below.

Strategies

Exchange Rates

The GBP/USD exchange rate was 1.34505 as at 31st December 2025 (30th November 2025: 1.32500).

Return of Capital

Following the receipt in late December 2025 of proceeds of redemptions from the Real Estate Equity - Asia Pacific and Transportation strategies, 30.5% of the Company's assets are now comprised of net current assets (including cash or cash equivalents held in sterling). The Board expects that a third payment of approximately £20m will be made to the Company's shareholders by the end of February 2026. A further announcement providing details of the third payment, which will be effected through a compulsory partial redemption of shares, will follow by the end of January 2026.

8th January 2026

For and on behalf of

JPMorgan Funds Limited - Company Secretary

E-mail: [email protected]

Telephone: 0800 20 40 20 (or +44 1268 44 44 70)