Index Research Factsheets

This report or communication (this “Material”) has been prepared by personnel in J.P. Morgan’s Global Index Research Group and is provided for informational purposes only. It is intended solely for your use.

For further information regarding the Global Index Research Group products (referred to herein as “Index” or “Indices”), please refer to https://www.jpmorgan.com/insights/research/index-research.  For full Global Index Research Group disclosures, please refer to https://www.jpmorgan.com/disclosures/girg.

Unless otherwise specifically stated, any views or opinions expressed herein are solely those of the individual author from which it originates and may differ from the views or opinions expressed by other areas of J.P. Morgan.

This Material is for distribution to institutional and professional clients only and is not intended for retail customer use.

“J.P. Morgan” is the marketing name for the investment banking and markets activities and businesses of JPMorgan Chase & Co. and its subsidiaries and affiliates worldwide, including JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC (“JPMS”), and J.P. Morgan Securities plc (member of the LSE, authorized by the PRA, regulated by the FCA and PRA). Securities, markets and research activities are conducted through a combination of JPMS, J.P. Morgan Securities plc and the appropriately licensed subsidiaries of JPMorgan Chase & Co. in EMEA and Asia-Pacific. J.P. Morgan Global Index Research Group personnel may be employees of any of the foregoing entities. JPMS is a member of NYSE and SIPC.

Indices and the Index Administrator: All information provided herein regarding J.P. Morgan Index products, including without limitation, the levels of the Indices, is provided for informational purposes only.

The Indices are the exclusive property of JPMS as administrator of the Indices (the “Index Administrator”), and the Index Administrator retains all property rights therein. In such capacity, the Index Administrator does not sponsor, endorse or otherwise promote any security or financial product or transaction referencing any of the Indices

No Offer, Solicitation or Advice: Nothing herein constitutes, or forms part of, an offer or a solicitation for the purchase or sale of any financial instrument, or an official confirmation of any transaction, or a valuation or a price for any product referencing the Indices. Nor should anything herein be construed as a recommendation to adopt any investment strategy or as investment, tax, legal, accounting, regulatory or other advice, or as creating a fiduciary relationship.

The products and services referenced herein may not be suitable for all clients and are subject to change at any time without notice. If you deem it necessary, you must seek independent professional advice to ascertain the investment, legal, tax, accounting, regulatory or other consequences before investing or transacting

Information Sources, Accuracy and Forward-Looking Statements: All Indices are derived from sources, including market prices, data and other information, that are considered reliable, but the Index Administrator does not warrant their completeness or accuracy or any other information furnished in connection with the Indices. The information in this Material has been obtained from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy.

Any modelling scenario analysis or other forward-looking information herein is intended to illustrate hypothetical results based on certain assumptions, information and/or financial data (not all of which will be specified herein). J.P. Morgan does not guarantee expressly or impliedly the accuracy or completeness of any information and/or financial data used. Further, the information and/or financial data used by J.P. Morgan may not be representative of all information and/or financial data available to J.P. Morgan.

The information and/or financial data available herein may change at any time without notice to you. Actual events or conditions may differ materially from those assumed; therefore, actual results are not guaranteed. All market prices, data and other information (including that which may be derived from third party sources believed to be reliable) are not warranted as to completeness or accuracy and are subject to change without notice.

J.P. Morgan disclaims any responsibility or liability to the fullest extent permitted by applicable law, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this Material in any way. The information contained herein is as of the date and time referenced only, and J.P. Morgan does not undertake any obligation to update such information.

Past performance (including back testing) is not indicative of future returns, which will vary.

Positions and Roles: J.P. Morgan and/or its affiliates and employees may hold positions (long or short), effect transactions or act as market maker in the financial instruments of any issuer related to data contained herein or act as underwriter, placement agent, advisor, or lender to such issuer.

Sanctioned Securities: To the extent this Material includes any data on issuers or securities targeted by economic or financial sanctions imposed or administered by the governmental authorities of the U.S., EU, UK or other relevant jurisdictions (Sanctioned Securities), nothing herein is intended to be read or construed as encouraging, facilitating, promoting or otherwise approving investment or dealing in such Sanctioned Securities. Clients should be aware of their own legal and compliance obligations when making investment decisions

Authors, Marketing and Trademarks: The author(s) of this Material may not be licensed to carry on regulated activities in your jurisdiction and, if not licensed, do not hold themselves out as being able to do so. This Material is not an advertisement for or marketing of any issuer, its products or services, or its securities in any jurisdiction.

Product names, company names and logos mentioned herein are trademarks or registered trademarks of their respective owners.

Jurisdictional Notices: Any Material containing ESG ratings, as defined in the Securities and Exchange Board of India (Credit Rating Agencies)(Amendment) Regulations, 2023 (as may be amended and updated from time to time), is not intended to be, and is not to be distributed into India or to Indian domiciled users.

Any long form nomenclature for references to China; Hong Kong; Taiwan; and Macau within this Material are Mainland China; Hong Kong SAR (China); Taiwan (China); and Macau SAR (China)

Notice to European Union (EU) or United Kingdom (UK) users of an Index can be found here.

Changes to Interbank Offered Rates (IBORS) and other Benchmark Rates can be found here.

ESG Data Integrity: Where an index administered by the Index Administrator pursues environmental, social or governance (ESG) objectives, the Index Administrator is, wholly or in part, reliant on public sources of information and other third party sources. Further, the ability of the Index Administrator to verify such objectives may be limited by the integrity, quality, and detail of the data available in respect of the underlying constituents at the relevant point in time and the status and evolution of global laws, guidelines, regulations, and market practice in relation to the preparation, tracking and provision of such data. Therefore, such disclosures are made on a commercially reasonable efforts basis and are subject to change. In particular, new laws, guidelines or regulations may be introduced in relation to the methodology used to provide corporate ESG ratings which could impact the Index Administrator’s ESG index score and the relevant screenings and exclusions and cause them to change. ESG data may be inconsistent across providers. The Index Administrator’s ESG index score, relevant screenings and exclusions and related disclosures are also subject to change as a result of periodic reviews conducted by the Index Administrator in relation to the sources of ESG data.

In calculating the index in line with the methodology articulated herein, the Index Administrator relies on the data provided by the ESG data providers. The Index Administrator does not independently source its own ESG data or exercise any discretion with respect to the substitution of third party ESG data. The integrity of the ESG data sourced from third parties is limited by the ability of those providers to source accurate data on the ESG performance of certain corporate structures, such as parent versus subsidiary, including SPVs, holding company versus operating company and the activities of any affiliated entities and derived structures. Further, ESG data pertaining to sovereign issuers is limited to the sourcing of ESG performance data at the level of the relevant country. The current data integrity landscape means it is not possible to screen all issuers for exclusion (e.g. issuers other than corporate and quasi-sovereign issuers). Issuers in respect of whom ESG data is limited may still be included in the index.

Legal Entity Responsible for Production and Distribution: The legal entity identified below the name of the author is the legal entity responsible for the production of this Material. Where there are multiple authors with different legal entities identified below their names, these legal entities are jointly responsible for the production of this Material. Authors from various J.P. Morgan affiliates may have contributed to the production of this Material but may not be licensed to carry out regulated activities in your jurisdiction (and do not hold themselves out as being able to do so). Unless otherwise stated below, this Material has been distributed by the legal entity responsible for production. If you have any queries, please contact the relevant Global Index Research Group personnel in your jurisdiction or the entity in your jurisdiction that has distributed this Material.

Confidentiality and Security Notice: This transmission and any attachments may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law, and are provided on a confidential basis. If you are not the intended recipient, you are hereby notified that any disclosure, copying, reproduction, distribution, redistribution, dissemination, or use of the information contained herein (including any reliance thereon), in whole or part,  is STRICTLY PROHIBITED and may not be made without the prior written consent of J.P. Morgan. If you received this transmission in error, please immediately contact the sender and destroy the Material in its entirety, whether in electronic or hard copy format. Although this transmission and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by JPMorgan Chase & Co., its subsidiaries and affiliates, as applicable, for any loss or damage arising in any way from its use. This message is subject to electronic monitoring by J.P. Morgan; see https://www.jpmorgan.com/disclosures/email for details.

Sustainalytics: Certain information, data, analyses and opinions contained herein are reproduced by permission of Sustainalytics and: (1) includes the proprietary information of Sustainalytics; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice nor an endorsement of any product or project; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Sustainalytics is not responsible for any trading decisions, damages or other losses related to it or its use. The use of the data is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers. ©2025 Sustainalytics. All Rights Reserved.

Copyright 2026 JPMorgan Chase & Co. All rights reserved. This Material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research Material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.