s investment In the Rind is perreabe under any and al doorrents, taus. ruin, medlar* endi or spices govening the irrestmers of it assets and soder EFUSA: (iii) it a independent of the Fwd. UBSFA, the ;Lament Agent. and any of their aft hates; hal) it b net relying ard has not reed cn the Fund. ISS

and Tax Considerations. USRPHCs As defined in Section 9: Certain Legal. ER/SA and Tax Considerations. UTR As defined in Section 9: Certain Legal. EFUSA and Tax Considerations. Valuation Committee The valuation committee established by the Manager. wlthholdabie As defined in Section 9: Certain Leg

of the Interests will not result in a prohibited transaction under any federal, state or local lax that is substantially similar to Section 406 of EFUSA or Section 4975 of the Code for which an exemption is not available. IV/ its investment in the Fund is permissible under any and all doeiments, la

stablished since these charges are subject to rebate as defined below. For accounts of the Bank as tnutee, or diwretionary investment manager for an EFUSA plan or an IRA. which hold staves in the 'Morgan Funds other than Fiduciary Shares, the Bank receives fees for services from the JPMorgan Funds but

established since these charges are subject to rebate as defined below. For accounts of the Bank as tnutee, or diatetionary uwerament manager for an EFUSA plan or an IRA. which hold Ala/CS in the 'Morgan Funds other than Fiduciary Shares, the Bank receives fees for services from the JPMorgan Funds but

stablished since these charges are subject to rebate as defined below. For accounts of the Bank as trustee, or discretionary uwemment manager for an EFUSA plan or an IRA. which hold shoes in the 'Morgan Funds other than Fiduciary Shares, the Bank receives fees for services from the JPMorgan Funds but w

established since these charges are subject to rebate as defined below. For accounts of the Bank as trustee, or dist:dons roves R/CM manager for an EFUSA plan or an IRA, which hold Ala/CS in the 'Morgan Funds other than Fiduciary Shares, the Bank receives fees for services from the JPMorgan Funds but

and Tax Considerations. USRPHCs As defined in Section 9: Certain Legal. ER/SA and Tax Considerations. UTR As defined in Section 9: Certain Legal. EFUSA and Tax Considerations. Valuation Committee The valuation committee established by the Manager. wlthholdabie As defined in Section 9: Certain Leg

ablished since these charges are subject to rebate as defined below. For accounts of the Bank as trustee, or di retionary investment inanager for an EFUSA plan or an IRA. which hold staves in the 'Morgan Funds other than Fiduciary Shares, the Bank receives fees for :melees from the JPMorgan Funds but w

ablished since these charges are subject to rebate as defined below. For accounts of the Bank as trustee. or discretionary investment manager for an EFUSA plan or an IRA. which hold shares in the JPMorgan Funds other than Fiduciary Shares, the Bank receives fees for services from the JPMorgan Funds but

established since these charges are subject to rebate as defined below. For accounts of the Bank as mince. or diwretionary investment manager for an EFUSA plan or an IRA. which hold shares in the JI'Morgan Funds other than Fiduciary Shares, the Bank receives fees for services from the JPMorgon Funds bu

stablished since these charges are subject to rebate as defined below. For accounts of the Bank as trustee, or di retionao investment manager for an EFUSA plan or an IRA. which hold stoves in the 'Morgan Funds other than Fiduciary Shares, the Bank receives fees for services from the JPMorgan Funds but

stablished since these charges are subject to rebate as defined below. For accounts of the Bank as trustee. or dimetionary investment manager for an EFUSA plan or an IRA. which hold Ala/CS in the JPMorgan Funds other than Fiduciary Shares, the Bank receives fees for services from the JPMorgon Funds but

tablished since these charges are subject to rebate as defined below. For accounts of the Bank as trustee, or dimtetionary investment manager for an EFUSA plan or an IRA. which hold Ala/CS in the .1I'Motgan Funds other than Fiduciary Shares, the Bank receives fees for services frau the JPMorgan Funds b