NOT FDIC INSURED I NO BANK GUARANTEE I MAY LOSE VALUE JPMorgan Latin America Fund Data as of M n 3L. 2013 A Shares (JLTAX) C Shares (JLTCX) Select Shares (JLTSX) Fund overview Objective the Fund will seek long-term capital growth. Strategy/Investment process • Invests primarily in securities of Latin American issuers and other investments that are tied economically to Latin America. • May occasionally hedge a portion of its foreign currency exposure into the U.S. dollar. • Focuses on active and fundamental research. relying less on published data and more on subjective analysis through company visits by locally based country specialists. Portfolio managers/industry experience LuisCarrillo. 21 years Sophie Bosch. 14 years Sebastian tuparia. 21 years Portfolio characteristics P/E ratio (1 yr. forecast$ 28.0 P/B ratios 2.7 Beta (3 vr.)4 0.94 Sharpe ratio (3 yr.P 0.15 Wtd. avg. market cap (in $14.0 Number of holdings 60 Fund assets (in millions) $133.83 Country breakdown (%)" Brazil 57.0 Mexico 23.4 Peru 42 Chile 13 Panama 2.5 United States 2.1 Canada 1.6 Luxembourg 1.1 Short.rerm Investments 3.9 Other 0.9 Sector breakdown (%)" Consumer Discretionary 10.6 Consumer Staples 14.4 Energy 3.7 Financials 32.6 Health Care 1.9 Industrials 182 Information Technology 0.9 Materials 9.6 Short-Term Investments 3.9 Telecommunication Services 3.0 Utilities 12 "Due to rounchng. values may not total 10036. Insight + Process = Results" Fund performance^ A $10.000 investment in 1PLIorgan Latin America Fund (A Shares) at MV. with dividends and capital gains reinvested. would have grown to $15.017 from inception on 2/28/07 through 3/31/13. The chart is plotted monthly. There is no direct correlation between a hypothetical investment and the anticipated performance of the Fund. Performance at NAY (%) A Shares C Shares Select Shares MSC i EM Latin America index (net of foreign withholding taxes) L