JPMorgan Wealth Management Solutions Inc

ITEM 5 - Fees and Compensation

A.       WMS Compensation

JPMS reimburses WMS for its costs for implementation, overlay, Tax Harvesting and Tax Transition and other services,
as applicable. WMS does not separately receive a fee from JPMS or its clients. Neither WMS nor any of its supervised
persons accepts compensation for the sale of securities or other investment products, including asset- based sales
charges or service fees from the sale of Funds.

B.       Client Expenses

Clients pay JPMS an asset-based fee (“wrap fee”) for the various services JPMS provides to the Program. See the
JPMS Form ADV, Part 2.

C.       Other Client Expenses

Funds pay fees and expenses that are ultimately borne by clients (including, but not limited to, management fees,
brokerage costs, and administration and custody fees). Additionally, Funds held in an account have investment
advisory expenses, so clients incur two levels of investment management fees and expenses: one indirectly in the
form of an investment management fee to the investment adviser of each Fund, and one to JPMS for its services
rendered. These fees are in addition to any fees paid to JPMS as the sponsor. JPMS and its affiliates collectively
generally receive greater revenue if J.P. Morgan Affiliated Funds or affiliated SMA/Model Managers are included, and
therefore, JPMS and WMS have a conflict of interest in including J.P. Morgan Affiliated Funds or affiliated SMA/Model
Managers. Refer to “Use of J.P. Morgan Affiliated Funds and SMA/Model Managers and Potential Conflicts of Interest”
in Item 11.B for more information on the use of J.P. Morgan Affiliated Funds and affiliated SMA/Model Managers.

WMS will generally place orders for client accounts with JPMS for execution because the wrap fee paid by each client
includes commissions and certain transaction charges on trades executed through JPMS. WMS may execute trades
through a broker-dealer other than JPMS (including in transactions referred to as “step-out” transactions) when WMS
reasonably believes doing so will allow it to seek best execution. This can include, for example, situations where WMS
believes that any added transaction or other charges of trading through another broker-dealer can be offset by a
more favorable execution offered by that broker-dealer. For orders placed with broker-dealers other than JPMS, the
trade confirmation issued by JPMS will typically show a price for the traded security that is inclusive (i.e., net) of the
commission, commission equivalent (mark-up/mark-down), or other charge paid by the client to the other broker-
dealer. Unless WMS provides JPMS with the appropriate information on a timely basis, the amount of any such

additional costs typically will not be broken out or otherwise shown separately on the trade confirmations JPMS
provides. For more information on trading away, refer to the JPMS ADV and additional disclosures in the “Trading
Away       and   Associated     Costs”     section    on     the     JPMS     separate   websites,     available    at
chase.com/personal/investments/managed-account-disclosures.

To the extent that any securities or other assets used to establish a wrap account are sold to bring the account into
alignment with the investment strategy selected by the client, the client will be responsible for payment of any taxes
due. Clients should consult their tax adviser or accountant regarding the tax treatment of their account under a wrap
program.

ITEM 7 - Types of Clients

JPMS offers the Program to individuals, trusts, estates, charitable organizations, corporations and other business
entities with U.S. addresses. Depending on the strategy, the Program is available to retirement accounts subject to
the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and the Internal Revenue Code of
1986, as amended, and the corresponding Treasury regulations (the “Code”).

JPMS has established account minimum requirements for client accounts, which vary based on the investment
strategy. Minimums are subject to waiver or reduction in JPMS’ discretion and are waived for certain client accounts
on occasion. If an account falls below the Program minimum, JPMS can terminate such account at its discretion. See
the JPMS Form ADV, Part 2 for details about minimums.

To open or maintain an account, clients are required to enter into an investment advisory agreement with JPMS that
stipulates the terms under which JPMS (and other investment advisers to which it delegates investment discretion)
are authorized to act on behalf of the client to manage the assets listed in the agreement.

Managed Account. Participation in a Program Managed Account generally requires a minimum $10,000 investment.
The minimum investment can be higher if the client selects an SMA/Model strategy or a strategy with liquid
alternatives or services that require a higher minimum. Accounts that fall below the minimum investment for the
strategy as a result of client withdrawals will be subject to possible termination.

Guided Account. Participation in a Program Guided Account generally requires a minimum $50,000 investment. The
minimum investment can be higher if the client selects an SMA/Model strategy. Guided Accounts investing in fixed
income Portfolio Managers are subject to a minimum of $2,000,000.

Tax Harvesting. Participation in WMS Tax Harvesting generally requires a minimum $50,000 investment for both
taxable Managed Accounts and taxable Guided Accounts. A client can enroll in Tax Harvesting when the account is
below the minimum, but Tax Harvesting will not start until the minimum is met, and parameters set.

Tax Transition Services. Participation in WMS Tax Transition services generally requires a minimum $250,000
investment for both Managed Accounts and Guided Accounts.