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Jupiter is unable","page_number":3,"box":{"x":170,"y":606,"width":781,"height":8}},{"id":"c1e0d278-2cdd-4a14-9651-6cf06dd9620d","block_type":"box","text":"to provide investment advice. Initial charges are likely to have a greater proportionate effect on returns if investments are liquidated in the shorter term. Every effort is made to ensure","page_number":3,"box":{"x":47,"y":615,"width":904,"height":8}},{"id":"670b6bbd-cf4c-4201-820b-9b77b6c95046","block_type":"box","text":"the accuracy of any information provided but no assurances or warranties are given. Jupiter Unit Trust Managers Limited (JUTM) and Jupiter Asset Management Limited (JAM) are both","page_number":3,"box":{"x":47,"y":624,"width":904,"height":8}},{"id":"c5e1ecca-287e-4c59-9300-a6499f8367ea","block_type":"box","text":"authorised and regulated by the Financial Conduct Authority and their registered address is The Zig Zag Building, 70 Victoria Street, London SW1E 6SQ. No part of this document may","page_number":3,"box":{"x":48,"y":633,"width":904,"height":8}},{"id":"20ad7c2a-f740-4d40-8787-34a848100446","block_type":"box","text":"be reproduced in any manner without the prior permission of JUTM and/or JAM.","page_number":3,"box":{"x":48,"y":642,"width":400,"height":8}},{"id":"636bd7db-7393-46ac-8a68-87eea5e3abb7","block_type":"box","text":"© 2026 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or","page_number":3,"box":{"x":53,"y":665,"width":899,"height":9}},{"id":"5e1ac727-5cdd-4165-a20a-7411666ca6c1","block_type":"box","text":"distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising","page_number":3,"box":{"x":48,"y":674,"width":903,"height":9}},{"id":"a2f24f2a-0155-4ce9-9679-c9dac862f05f","block_type":"box","text":"from any use of this information. Past performance is no guarantee of future results. For more detailed information about Morningstar’s Medalist Rating, including its","page_number":3,"box":{"x":47,"y":684,"width":904,"height":9}},{"id":"69e50860-31a5-4312-8ea3-1a2e98ef6b82","block_type":"box","text":"methodology, please go to: https://shareholders.morningstar.com/investor-relations/governance/Compliance--Disclosure/default.aspx","page_number":3,"box":{"x":48,"y":693,"width":716,"height":9}},{"id":"1dda1593-204a-4ced-82b9-06447c71115b","block_type":"box","text":"The Morningstar Medalist RatingTM is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a","page_number":3,"box":{"x":47,"y":715,"width":905,"height":9}},{"id":"8258979d-edf9-45da-af4a-d18d54fc1db0","block_type":"box","text":"rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or","page_number":3,"box":{"x":48,"y":724,"width":904,"height":9}},{"id":"019b3a21-c216-4928-925a-fdf031a475b3","block_type":"box","text":"peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee","page_number":3,"box":{"x":48,"y":734,"width":903,"height":9}},{"id":"38bdac98-9fd9-4154-a795-18505a14eeab","block_type":"box","text":"assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the","page_number":3,"box":{"x":48,"y":743,"width":903,"height":9}},{"id":"13843d8f-839e-45c7-939b-565a08329dc3","block_type":"box","text":"form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers","page_number":3,"box":{"x":47,"y":753,"width":904,"height":9}},{"id":"fb447ff9-3ba0-4625-8d15-3cf8b79b43eb","block_type":"box","text":"or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected","page_number":3,"box":{"x":48,"y":762,"width":903,"height":9}},{"id":"e37083e6-06d4-4db2-b728-dd468fd4f572","block_type":"box","text":"performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar","page_number":3,"box":{"x":48,"y":772,"width":904,"height":9}},{"id":"95736f01-1dfc-4f0e-a6e9-1199b7bf6908","block_type":"box","text":"ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When","page_number":3,"box":{"x":48,"y":781,"width":903,"height":9}},{"id":"0f3e9b5c-1bef-478a-a1f6-099d0102419d","block_type":"box","text":"the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. 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