Important information IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates In discussion of options and other strategies, results and risks are based solely on do not provide tax advice. Accordingly, any discussion of U.S. tax hypothetical examples cited; actual results and risks will vary depending on specific matters contained herein (including any attachments) is not intended circumstances. Investors are urged to consider carefully whether option or option- or written to be used, and cannot be used, in connection with the related products in general, as well as the products or strategies discussed herein . , : me y are suitable to their needs. In actual transactions, the client’s counterparty for OTC promotion, marketing or recommendation by anyone unaffiliated with derivatives applications is JPMorgan Chase Bank, N.A., London branch. For a copy JPMorgan Chase & Co. of any of the matters addressed herein or for of the “Characteristics and Risks of Standardized Options” booklet, please contact the purpose of avoiding U.S. tax-related penalties. your J.P. Morgan Advisor. Each recipient of this presentation, and each agent thereof, may disclose to any Real estate, hedge funds, and other private investments may not be suitable for all person, without limitation, the U.S. income and franchise tax treatment and tax individual investors, may present significant risks, and may be sold or redeemed at structure of the transactions described herein and may disclose all materials of more or less than the original amount invested. Private investments are offered any kind (including opinions or other tax analyses) provided to each recipient only by offering memoranda, which more fully describe the possible risks. There insofar as the materials relate to a U.S. income or franchise tax strategy are no assurances that the stated investment objectives of any investment product provided to such recipient by JPMorgan Chase & Co. and its subsidiaries. will be met. Hed