The Board of JPMorgan Japan Small Cap Growth & Income plc has been informed by its Manager, JPMorgan Funds Limited, that Eiji Saito, the Company's lead portfolio manager, will be leaving JPMorgan after 18 years' service. Eiji has made the decision to leave the industry after 26 years to return to university and pursue a degree in law. Eiji has been a valuable member of the team and led JPMorgan Asset Management's Japan Small/Mid Cap strategy over the last 18 years.

Eiji's specific portfolio management responsibilities will be transitioned to other members of the JPMorgan Asset Management's Japanese Equity team. Miyako Urabe will replace Eiji as the lead manager of the Company and the JPMorgan Asset Management's Japan Small/Mid Cap strategy. Miyako has spent 14 years within the industry, including 9 years at JPMorgan, having joined the Japanese Equities team in 2013.

She has been a named manager on the multi-cap Japan Growth Unconstrained strategy since 2015. Xuming Tao will join Miyako as a portfolio manager of the Company. Xuming was recruited to the team in 2019 as an investment analyst to focus on Japanese Small Cap research and has worked closely with the managers of JPMorgan Asset Management's Japan Small/Mid Cap strategy since then.

Nao Ozawa will continue as a portfolio manager of the Company, working alongside Miyako and Xuming. Nao has spent 16 years in the industry, 14 years with JPMorgan and 4 years managing the Company. Michiko Sakai will leave the team to focus on the JPM Japan Sustainable strategy responsibilities.