Jupiter Fund Management plc

(the "Company" or "Jupiter")

24 October 2022

Commencement of buyback programme

Jupiter today announces, as outlined in its announcement on 20 October 2022, the commencement of a share buyback programme to purchase ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares") for up to a maximum consideration of £10 million (the "Programme"). The Programme will end no later than 31 December 2022. The purpose of the Programme is to reduce the share capital of the Company, therefore any ordinary shares purchased under the Programme will be cancelled.

The Company has entered into an irrevocable non-discretionary agreement with Numis Securities Limited ("Numis") to conduct the Programme on its behalf and carry out on-market purchases of Ordinary Shares, acting as riskless principal, with any purchased shares being simultaneously on-sold by Numis to the Company.

Numis will make trading decisions in relation to the Programme independently of the Company. During any closed periods the Company and its directors have no power to invoke any changes to the Programme and it will be executed at the sole discretion of Numis.

Any purchases of Ordinary Shares under the Programme will be carried out on the London Stock Exchange in accordance with (and subject to the limits prescribed by) the Company's general authority to repurchase shares granted by its shareholders at the annual general meeting on 11 May 2022 ("2022 Authority"). The Programme will also be effected within the parameters of the Market Abuse Regulation 596/2014/EU, as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019 ("UK MAR") and the Commission Delegated Regulation 2016/1052/EU, as amended by Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019, which both form part of the law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018) and in accordance with Chapter 12 of the FCA Listing Rules.

The maximum number of Ordinary Shares which may be repurchased under the Programme is 55,306,074, being the number of Ordinary Shares the Company is authorised to repurchase under the 2022 Authority.

LEI Number: 5493003DJ1G01IMQ7S28