SCHEDULE B

JPMORGAN FUNDS

COMBINED AMENDED AND RESTATED DISTRIBUTION PLAN

(Amended as of May 8, 2025)

Money Market Funds

 

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan 100% U.S. Treasury Securities Money Market Fund

    JPMorgan 100% U.S. Treasury Securities Money Market Fund    Morgan    0.10%
      Reserve    0.25%

JPMorgan California Municipal Money Market Fund

    JPMorgan California Tax Free Money Market Fund    Morgan    0.10%
      Service    0.60%

JPMorgan Federal Money Market Fund

    JPMorgan Federal Money Market Fund    Morgan    0.10%

JPMorgan Liquid Assets Money Market Fund

    One Group Prime Money Market Fund    Reserve    0.25%
      Morgan    0.10%

JPMorgan Municipal Money Market Fund

    One Group Municipal Money Market Fund    Morgan    0.10%
      Service    0.60%

JPMorgan New York Municipal Money Market Fund

    JPMorgan New York Tax Free Money Market Fund    Morgan    0.10%
      Reserve    0.25%
      Service    0.60%

JPMorgan Prime Money Market Fund

    JPMorgan Prime Money Market Fund    Reserve    0.25%

 

B - 1

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan Tax Free Money Market Fund

    JPMorgan Tax Free Money Market Fund    Morgan    0.10%
      Reserve    0.25%

JPMorgan U.S. Government Money Market Fund

    One Group Government Money Market Fund    Reserve    0.25%
      Morgan    0.10%
      Service    0.60%

JPMorgan U.S. Treasury Plus Money Market Fund

    One Group U.S. Treasury Securities Money Market Fund    Reserve    0.25%
      Morgan    0.10%

Equity Funds

 

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan Diversified Fund

    JPMorgan Diversified Fund    Class A    0.25%
      Class C    0.75%

JPMorgan Emerging Markets Equity Fund

    JPMorgan Fleming Emerging Markets Equity Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

 

B - 2

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan Equity Income Fund

    One Group Equity Income Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Equity Index Fund

    One Group Equity Index Fund    Class A    0.25%
      Class C    0.75%

JPMorgan Equity Premium Income Fund

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan Europe Dynamic Fund

    JPMorgan Fleming Intrepid European Fund, JPMorgan Intrepid European Fund    Class A    0.25%
      Class C    0.75%

JPMorgan Global Allocation Fund

    JPMorgan Global Flexible Fund (name effective until 2/17/11)    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Growth Advantage Fund

    JPMorgan Mid Cap Growth Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Hedged Equity Fund

    N/A    Class A    0.25%

 

B - 3

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)
      Class C    0.75%

JPMorgan Hedged Equity 2 Fund

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan Hedged Equity 3 Fund

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan International Equity Fund

    JPMorgan Fleming International Equity Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

JPMorgan International Focus Fund

    JPMorgan International Unconstrained Equity Fund (name effective until 4/20/20)    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

JPMorgan International Hedged Equity Fund1

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan Developed International Value Fund

    JPMorgan International Value Fund (name effective until 9/13/23), JPMorgan Fleming International Value Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

JPMorgan Investor Balanced Fund

    One Group Investor Balanced Fund    Class A    0.25%
 
1 

To be liquidated and reorganized under the JPMorgan International Hedged Equity Laddered Overlay ETF on or about July 11, 2025.

 

B - 4

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Investor Conservative Growth Fund

    One Group Investor Conservative Growth Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Investor Growth Fund

    One Group Investor Growth Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Investor Growth & Income Fund

    One Group Investor Growth & Income Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Large Cap Growth Fund

    One Group Large Cap Growth Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Large Cap Value Fund

    One Group Large Cap Value Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

 

B - 5

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan Mid Cap Equity Fund

    JPMorgan Mid Cap Equity Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

JPMorgan Mid Cap Growth Fund

    One Group Mid Cap Growth Fund and JPMorgan Diversified Mid Cap Growth Fund (name effective until 6/27/09)    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Mid Cap Value Fund

    JPMorgan Mid Cap Value Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Research Market Neutral Fund

    JPMorgan Market Neutral Fund (name effective until 2/28/10)    Class A    0.25%
      Class C    0.75%

JPMorgan Small Cap Blend Fund

    JPMorgan Dynamic Small Cap Growth Fund (name effective until 5/31/18); JPMorgan Dynamic Small Cap Fund (name effective until 6/29/07)    Class A    0.25%
      Class C    0.75%

 

B - 6

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan Small Cap Equity Fund

    JPMorgan Small Cap Equity Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Small Cap Growth Fund

    One Group Small Cap Growth Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Small Cap Value Fund

    One Group Small Cap Value Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement 2020 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement 2025 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

 

B - 7

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan SmartRetirement 2030 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement 2035 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement 2040 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement 2045 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement 2050 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement 2055 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

 

B - 8

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan SmartRetirement 2060 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement 2065 Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend Income Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2025 Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2030 Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2035 Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2040 Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2045 Fund

    N/A    Class R2    0.50%

 

B - 9

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2050 Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2055 Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2060 Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SmartRetirement Blend 2065 Fund

    N/A    Class R2    0.50%
      Class R3    0.25%

JPMorgan SMID Cap Equity Fund

    JPMorgan Intrepid Mid Cap Fund, One Group Diversified Mid Cap Fund and JPMorgan Diversified, Mid Cap Fund    Class A    0.25%
      Class C    0.75%
      Class R3    0.25%

JPMorgan U.S. Applied Data Science Value Fund2

    JPMorgan Intrepid Value Fund (name effective until 6/30/21)    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

JPMorgan U.S. Equity Fund

    JPMorgan U.S. Equity Fund    Class A    0.25%
      Class C    0.75%
 
2 

To be liquidated and reorganized under the JPMorgan Fundamental Data Science Large Value ETF on or about July 11, 2025.

 

B - 10

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)
      Class R2    0.50%
      Class R3    0.25%

JPMorgan U.S. GARP Equity Fund

    JPMorgan Intrepid Growth Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

JPMorgan U.S. Large Cap Core Plus Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

JPMorgan U.S. Research Enhanced Equity Fund

    JPMorgan Disciplined Equity Fund (name effective until 11/1/17)    Class A    0.25%

JPMorgan U.S. Small Company Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan U.S. Sustainable Leaders Fund

    JPMorgan Intrepid Sustainable Equity Fund, JPMorgan Intrepid Investor Fund, JPMorgan Intrepid, Contrarian Fund (name effective until 4/10/06) and JPMorgan, Intrepid Multi Cap Fund, JPMorgan Intrepid Advantage Fund    Class A    0.25%
      Class C    0.75%

JPMorgan U.S. Value Fund

    JPMorgan Growth and Income Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

 

B - 11

Current Name

   

Former Name

   

Share Class

    Distribution Fee
(annual rate expressed
as a percentage of the
average daily net
assets of each Class
of Shares)

JPMorgan Value Advantage Fund

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

Undiscovered Managers Behavioral Value Fund

    Undiscovered Managers Behavioral Value Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

Fixed Income Funds

 

Current Name

   

Former Name

   

Share
Class

    Distribution Fee
(annual rate expressed as a
percentage of the average
daily net assets of  each
Class of Shares)

JPMorgan California Tax Free Bond Fund

    JPMorgan California Bond Fund    Class A    0.25%
      Class C    0.75%

JPMorgan Core Bond Fund

    One Group Bond Fund    Class A    0.25%
      Class C    0.75%
        Class R2    0.50%

 

B - 12

Current Name

   

Former Name

   

Share
Class

    Distribution Fee
(annual rate expressed as a
percentage of the average
daily net assets of  each
Class of Shares)
      Class R3    0.25%

JPMorgan Core Plus Bond Fund

    One Group Income Bond Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan Corporate Bond Fund

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan Emerging Markets Debt Fund

    JPMorgan Fleming Emerging Markets Debt Fund    Class A    0.25%
      Class C    0.75%

JPMorgan Floating Rate Income Fund

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan Global Bond Opportunities Fund

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan Government Bond Fund

    One Group Government Bond Fund    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

JPMorgan High Yield Fund

    One Group High Yield Bond Fund and JPMorgan High Yield Bond Fund (name effective until 9/14/09)    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%
      Class R3    0.25%

 

B - 13

Current Name

   

Former Name

   

Share
Class

    Distribution Fee
(annual rate expressed as a
percentage of the average
daily net assets  of each
Class of Shares)		  

JPMorgan Income Fund

    N/A    Class A      0.25 % 
      Class C      0.75 % 

JPMorgan Income Builder Fund

    JPMorgan World Income Builder Fund    Class A      0.25 % 
      Class C      0.75 % 

JPMorgan Mortgage-Backed Securities Fund3

    One Group Mortgage-Backed Securities Fund    Class A      0.25 % 
      Class C      0.75 % 

JPMorgan National Municipal Income Fund4

    JPMorgan Intermediate Tax Free Income Fund, JPMorgan Intermediate Tax Free Bond Fund (name effective until 8/15/22)    Class A      0.25 % 
      Class C      0.75 % 

JPMorgan New York Tax Free Bond Fund

    JPMorgan New York Intermediate Tax Free Income Fund    Class A      0.25 % 
      Class C      0.75 % 

JPMorgan Preferred and Income Securities Fund

    N/A    Class A      0.25 % 
      Class C      0.75 % 

JPMorgan Short Duration Bond Fund

    One Group Short-Term Bond Fund    Class A      0.25 % 
      Class C      0.75 % 

JPMorgan Short Duration Core Plus

    JPMorgan High Yield Fund (name effective until 9/28/17)    Class A      0.25 % 
      Class C      0.75 % 

JPMorgan Short-Intermediate Municipal Bond Fund

    One Group Short-Term Municipal Bond Fund and JPMorgan Short Term Municipal Bond Fund (name effective until 4/30/09)    Class A      0.25 % 
      Class C      0.75 % 
 
3 

To be liquidated and reorganized under the JPMorgan Mortgage-Backed Securities ETF on or about June 27 2025.

4 

To be liquidated and reorganized under the JPMorgan Municipal ETF on or about 3rd quarter 2025.

 

B - 14

Current Name

   

Former Name

   

Share
Class

    Distribution Fee
(annual rate expressed as a
percentage of the average
daily net assets of  each
Class of Shares)

JPMorgan Strategic Income Opportunities Fund

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan Tax Aware Real Return Fund

    N/A    Class A    0.25%
      Class C    0.75%

JPMorgan Tax Free Bond Fund

    One Group Tax-Free Bond Fund    Class A    0.25%
      Class C    0.75%

JPMorgan Total Return Fund5

    N/A    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

JPMorgan Ultra-Short Municipal Fund

    N/A    Class A    0.25%

JPMorgan Unconstrained Debt Fund6

    JPMorgan Multi-Sector Income Fund (name effective until 10/22/14)    Class A    0.25%
      Class C    0.75%
      Class R2    0.50%

*    *    *    *

 
5 

To be liquidated on or about July 29, 2025.

6 

To be liquidated and reorganized under the JPMorgan Flexible Debt ETF mid 2025.

 

B - 15

J.P. Morgan Fleming Mutual Fund Group, Inc.

J.P. Morgan Mutual Fund Investment Trust

Undiscovered Managers Funds

JPMorgan Trust I

JPMorgan Trust II

JPMorgan Trust IV

Each on behalf of itself and each of its Funds

     J.P. Morgan Investment Management Inc.
   

 

By:

  

 

/s/ Brian S. Shlissel

    Name:   Brian S. Shlissel
    Title:   Managing Director
     

 

By:   /s/ Timothy J. Clemens
Name:   Timothy J. Clemens
Title:   Treasurer

 

B - 16