EFTA01492264.pdf

For the Period 6WII to WWII JPMCC and JPMS are members of the Securities Investor Protection Corp ("SIPC"), a not-for-profit membership corporation funded by broker-dealers registered with the Secunties and Exchange Commission. Securities and cash held for a customer at JPMS and JPMCC are protected by SIPC up to 5500.000 per customer, which includes up to 5100.000 of protection for cash. SIPC does not protect against losses from fluctuations in the value of the securities. Assets held in custody by JPMCB are not subject to SIPC. You may obtain information about SIPC, including the SIPC Brochure, on their website, at 1vww.sipc.org" or by contacting them at (202) 371.8300. To the extent applicable, please note the following regarding estimated annual income (EM) and estimated yield (EY): EAI and EY for certain types of securities could include a return of principal or capital gains in which case the EAl and EY would be overstated. EAl and EY are estimates and the actual income and yield might be lower or higher than the estimated amounts. EY reflects only the income generated by an investment. It does not reflect changes in its price, which may fluctuate. JPMS, JPMCB or their affiliates (the "J.P. Morgan Companies") may provide administrative, custodial, sales, distribution or shareholder services to JPMorgan Funds. American Century Funds, or funds estaltished, sponsored, advised, or managed by third parties, and the J.P. Morgan Companies may be compensated for such services. A financial statement of this organization Is available to you for personal Inspection at its offices, or a copy wit be mailed to you upon written request. Bank products and services are offered through JPMCB and its banking affiliates. Securities are offered by JPMS and, to the extent noted above, cleared through JPMCC. If a partial call is made with respect to an issue of securities included in your Accounts we will allocate the call by a method we deem fair and equitable. JPMS is not a bank and is a separate legal entity from its bank or thrift affiliates. including JPMorgan Chase Bank. NA. ("JPMCB"). Investment Products: Not FDIC Insured -No Bank Guarantee -May Lose Valuel IMPORTANT INFORMATION ABOUT ALTERNATIVE INVESTMENTS: FOOTNOTES 1 -4 Private Equity. Hedge Funds. Exchange Funds, Real Estate and Other Alternative Assets 1. Direct private equity investments and pooled private investments (e.g., interests in limited partnerships and limited liability companies) are generally illiquid securities. Values are estimates only and are not warranted for accuracy or completeness. Values do not represent the actual terms at which transactions or securities could be bought or sold or new transactions could be entered into or the actual terms on which existing transactions could be liquidated as of the date of this statement. Direct private equity investments are generally valued at cost, unless there is an active secondary trading market in the securities. in which case, direct private equity investments are valued using market prices as of the close of the Last business day for this statement period. Pooled private equity investments are valued according to the General Partners or Manager's stated methodology. Please refer to the limited partnership agreement, limited liability company agreement or other operative documentation for each investment for the specific valuation methodology used by the General Partner or Manager for that investment. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the information and the methodology used by the General Partner or Manager in deriving valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Hedge funds generally calculate the price (the "Net Asset Value' or NAV). 10-15 business days following the last business day of the month. For that reason. hedge fund NAVs shown will generally be the NAV of the month preceding this statement period. In general, the NAV is stated net of management and incentive fees. The NAV is calculated according to the General Partners or Managers stated methodology. Please refer to the limited partnership agreement, limited liability company agreement or other operative documentation for each hedge fund for the specific methodology used by the General Partner or Manager for that hedge fund. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the information and the methodology used by the General Partner or Manager in deriving valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. These statements do not provide tax reporting on private investments. Please continue to rely upon the General Partner or Manager of the investment vehicle for this information. 2. The 'Capital Called Since Inception USD' and "Cash/Security distributions Since Inception USD' columns are updated monthly to reflect activity (capital calls and distributions), if any. J.P.Morgan Disclosures Page 3 of 4 Page 32 of 33 Confidential Treatment Requested by JPMorgan JPM-SDNY-000 14900 Chase CONFIDENTIAL SDNY_GM_00284098 EFTA01492264