JEMA Jpmorgan Emerging Europe Middle East & Africa Securities Plc

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN EMERGING EUROPE, MIDDLE EAST & AFRICA SECURITIES PLC ('the Company' or 'JEMA')

Legal Entity Identifier: 549300II3MHI98ZLVH37

Russian Court Order

The Board announce that the Company's Manager has today informed the Board of the following (in italics):

"JEMA has been named as a defendant to civil proceedings being brought by Sberbank KIB in the Russian courts which were commenced on 14 February 2025.  The claim has been brought against certain J.P. Morgan entities and JPMorgan Emerging Europe, Middle East & Africa Securities plc (JEMA) and relates to USD830,183 regarding an agreement between Sberbank KIB and JPMS plc for the purchase of Eurobonds.  Sberbank KIB allegedly made a payment in February 2022 and did not receive the Eurobonds due to sanctions.  We are not aware of any nexus between JEMA and amounts or Eurobonds allegedly owing to Sberbank KIB.  We will continue to monitor the proceedings and update you on relevant developments."

The proceedings referred to above includes JEMA's holdings in 25 Russian securities and the cash held in the Company's 'S' Account.  As at 31^st October 2024 the Russian securities were valued at £1.4m in the Company's accounts. The funds in the Company's 'S' Account have no value in the Company's accounts because the sum of £35.3m in the 'S' Account (as at 31^st October 2024) is not recognised as an asset in the Company's balance sheet. This is because the funds in the 'S' Account were 'frozen', following the introduction of sanctions arising from Russia's invasion of Ukraine in 2022.

The proceedings above are in addition to the proceedings being brought by VTB Bank. Please refer to the Chairman's Statement in the latest Annual Report and previous RNS announcements made by the Company on the VTB Bank proceedings and the potential impact to both the ongoing solvency of the Company's Russian sub-custodian and the Company's Russian assets.

For more details about the Company's Russian securities, 'S' Account and its other assets, please see the Company's Annual Report and Financial Statements to 31^st October 2024 available on the Company's website www.jpmeemeasecurities.com

20 February 2025

For further information:

Paul Winship

Joel Clopon

Neil Martin

JPMorgan Funds Limited                     0800 20 40 20

Hugh Jonathan 

Numis Securities plc                            020 7260 1000