Evolving Corporates Need Cash Investment to Match

_{Risk Disclosure}

_{Investment involves risk and needs to be cautious. Security investment funds (hereinafter referred to as "the Fund") is a long-term investment tool, and its main function is to diversify investment, lower individual risk from investing in single security. Unlike financial instruments like bank deposits and bonds that can provide expected fixed income, investors may earn the part of their shares from the fund investment and may also bear the losses by investing into the funds. Before making an investment decision, please carefully read the risk disclosure and the product legal documents such as Fund contract, Fund prospectus and Fund product information summary, fully understand the risk-return characteristics and product characteristics of the Fund, discreetly consider the existence of various risk factors of the Fund, fully consider your own risk tolerance in accordance to your own investment objectives, investment horizon, investment experience, asset situation etc., and make rational judgment and cautious investment decision based on the understanding of the product and sales suitability advice. According to relevant laws and regulations, JPMorgan Chase Bank (China) Co., Ltd. makes the following risk disclosure:}

_{1. According to the different investment objects, the Fund are divided into different types such as stock funds, hybrid funds, bond funds, money market funds, funds in funds, and commodity funds. You shall have different earning expectations when you invest in different types of funds, and also assume different levels of risk. In general, the higher the expected return of the fund, the greater risk you would bear.}

_{2. During the operation of the investment, the Fund may face a variety of risks, including market risk, the Fund's own management risk, technology risk and compliance risk. Large amount redemption risk is a unique risk to open-ended funds, when net redemption amount exceeds certain percentage (10% for open-ended funds, 20% for fixed-period fund and special products specified by CSRC are excluded) of the Fund total share in a single trading day, investors may not be able to redeem all requested shares in a timely fashion, or the payment of your redemption may be delayed.}

_{3. You shall fully understand the differences between installment fund investment and savings installment. Installment fund investment is a simple way of investment that guides investors to make long-term investments with an average cost. However, installment fund investment cannot avoid inherent risks in investing in the funds, guarantee profit or replace alternative way of managing money like savings.}

_{4. Risk disclosure of special types of products: The product you purchase is money market fund. Purchasing money market fund does not mean saving funds as deposits in banks or deposit-taking financial institutions. The fund manager does not guarantee the fund will be profitable, nor does it guarantee the minimum return.}

_{5. Fund managers are committed to manage and operate the assets of the funds with the principles of honesty, integrity and due diligence but do not guarantee profitability or minimum returns. Past performance of the Fund and the level of its net asset value do not indicate future performance; the performance of other funds that are managed by the fund manager does not constitute a guarantee of performance of the Fund. JPMprgan Chase Bank (China) Co., Ltd. reminds investors of the “caveat emptor” principle when investing in a fund. After an investment decision is made, the Investor is responsible to take all the investment risk resulted from the operation of the Fund and change of NAV of the Fund. Fund managers, fund custodians, fund sales institutions and related institutions do not make any promises or guarantees for fund investment returns.}

_{6. The JPMorgan RMB Money Market Fund and the JPMorgan Tian Tian Bao RMB Money Market Fund (hereinafter referred to as "the Fund") by the JPMorgan Asset Management (China) Company Limited, (hereinafter referred to as "Fund Manager") were initiated in accordance with relevant laws, regulations and agreements. It is raised and registered with the permission of the China Securities Regulatory Commission (hereinafter referred to as the “CSRC"). The Fund’s Fund contract, Fund prospectus and Fund product information summary have been publicly disclosed on the China Securities Regulatory Commission’s Fund Electronic Disclosure Website (http://eid.csrc.gov.cn/fund/) and the Fund Manager’s internet site (https://am.jpmorgan.com/cn). CSRC registration of the Fund does not indicate CSRC’s substantial judgments or guarantees on the investment value, market prospects and returns of the Fund, nor does it indicate it’s risk free to invest in the Fund.}

_{The JPMorgan RMB Money Market Fund and the JPMorgan Tian Tian Bao RMB Money Market Fund are managed and offered by JPMorgan Asset Management (China) Company Limited. J.P. Morgan Asset Management (JPMAM) received regulatory approval from the China Securities Regulatory Commission (CSRC) for 100% ownership of CIFM on 19 January 2023. China International Fund Management Co., Ltd. (CIFM) received the approval to complete its legal entity name change to JPMorgan Asset Management (China) Company Limited on 11 April 2023. The information contained herein is for informational purposes. Shares of the Funds may be offered and sold only in China to: (i) individuals who are Chinese citizens and residents; (ii) institutions legally organised in China and permitted by Chinese law and regulation to invest in open-end investment funds; and (iii) entities with “Qualified Foreign Institutional Investor” status in China. Money market funds are not equal to bank deposits or deposits with other type of deposit taking entities. The fund management company does not guarantee performance or a minimum return.}

_{J.P. Morgan Global Liquidity China is the fund distribution business of JPMorgan Chase Bank (China) Company Limited. JPMorgan Chase Bank (China) Company Limited (the “Bank”) is a local incorporated bank in China, and is a subsidiary of JPMorgan Chase Bank, N.A.. It is regulated by the China Banking and Insurance Regulatory Commission, with a fund distribution business qualification (基金销售业务资格) issued by China Securities Regulatory Commission.  J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.}

_{This communication is issued in China by the Bank. This document is confidential and may not be reproduced or distributed in whole or in part to any other person. Informational sources are considered reliable but you should conduct your own verification of information contained herein. Any forecasts or opinions expressed may be subject to change without further notice. Investment involves risks. The value of investments and the income from them may fluctuate and your investment is not guaranteed. Past performance is not necessarily a guide to future performance and investors may not get back the full or any part of the amount invested. Investments in emerging markets may be more volatile than other markets and the risk to your capital is therefore greater. Also, the economic and political situations may be more volatile than in established economies and these may adversely influence the value of investments made. The Fund’ prospectus contains information that is important to any investment decision regarding the Fund, including its investment objectives, terms and conditions, tax information, potential conflicts of interest and risk disclosures. An offer or solicitation for the Fund will be made only through the Fund’ prospectus and will be subject to the terms and conditions contained therein. The information contained in this document does not constitute investment advice, or an offer to sell, or a solicitation of an offer to buy any security, investment product or service. All services and products herein are subject to applicable laws and regulations and the relevant product and service terms and contracts. Subject to the applicable laws and regulations, the Bank makes no representations as to the accuracy and completeness of the information herein. This document is qualified in its entirety by information contained in the prospectus of the Fund which shall be read carefully before making any investment. In the event of a conflict between the information in this document and in the Fund’ prospectus, the Fund’ prospectus shall always prevail. Investors should make their own investigation or evaluation or seek independent advice prior to making an investment.}