LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

USE OF SHARE REPURCHASE AUTHORITY

Legal Entity Identifier: 549300D8JHZTH6GI8F97

The Board of JPMorgan Global Core Real Assets Limited ("JARA" or the "Company") announces that, having regard for the material disconnect which has developed in recent weeks between the price at which the Company's shares trade and the NAV per share, it intends to make use of the share repurchase authority granted by shareholders at the Company's annual general meeting earlier this month in actively buying back shares on an ad hoc basis.

The Board recognises that, notwithstanding the relatively stable NAV total returns provided by the Company's portfolio in recent months, the broader macroeconomic backdrop continues to negatively impact the Company's share rating (as it has many other listed closed-ended investment vehicles). Equally, the Board is cognisant of the benefits which buybacks bring in terms of NAV accretion, increased market liquidity and reduced share price volatility, together with the potential for a narrowing of the discount. The Board and the Manager will weigh these benefits on an ongoing basis against the potential returns available on new investments in determining whether and when to buy back shares.

There is no debt held within the Company itself, and JARA's portfolio has a liquid allocation of 17.3% (as at 31 July 2023) providing an inherent degree of flexibility for buybacks and portfolio reallocations. The effectiveness of buybacks will be assessed on an ongoing basis and balanced against the overall portfolio positioning and liquidity. Any shares repurchased by the Company will be held in treasury. No maximum consideration payable has been determined by the Company for any buyback.

10 August 2023

Emma Lamb

JPMorgan Funds Limited - Company Secretary

Telephone 0207 742 4000

David Yovichic

Investec Bank plc - Broker

Telephone 020 7597 4000

Notes

The Company aims to provide holders of the Ordinary Shares with a stable income and capital appreciation, measured on a constant currency basis, through exposure to a globally diversified portfolio of Core Real Assets in accordance with the Company's investment policy. The Company obtains exposure to Core Real Assets through various real asset strategies, namely: Global Infrastructure, Global Real Estate, Global Transport and Global Liquid Real Assets. J.P. Morgan's Alternative Solutions Group has the primary responsibility for managing the Company's portfolio.