Net Asset Value and Company Update

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

NET ASSET VALUE AND COMPANY UPDATE

Legal Entity Identifier: 549300D8JHZTH6GI8F97

The Board of JPMorgan Global Core Real Assets Limited ('JARA') notes the recent share price movements and has authorised the release of an out of cycle Net Asset Value ('NAV') announcement.

As at market close on 16th March 2020 JARA's NAV was 96.82 pence, up 0.24% from the 29th February 2020 NAV of 96.58 pence.

As at 16th March 2020, JARA has approximately 60%. of its NAV in cash or cash equivalent instruments. Of the remaining 40% of NAV, c.20% is invested into two liquid segregated mandates and, as per the announcement from 29th October 2019, 19.5% of NAV has been drawn down into one of the underlying real estate strategies (as well as further top-up investments deploying capital raised from the issuance of shares at a premium to NAV). This brings JARA's current overall portfolio investment to approximately 40%.

JARA's currency exposures remain unhedged as set out in the Prospectus. Committed capital awaiting drawdown into the underlying private strategies is held in USD money market instruments. To reiterate, there is no fee charged on uncalled capital held in cash or cash equivalent instruments.

The Board also highlights the currency breakdown for which there have been no material changes since 29th February 2020.

Currency: The main currency exposures are:

18th March 2020

Alison Vincent

JPMorgan Funds Limited - Company Secretary

Telephone 0207 742 4000