Terms supplement to the prospectus dated April 13, 2023, the prospectus supplement dated April 13, 2023, the product supplement no. 3 - I dated April 13, 2023 and the underlying supplement no. 14 - I dated April 13, 2023 North America Structured Investments Registration Statement Nos. 333 - 270004 and 333 - 270004 - 01 Date d Septembe r 28 , 202 3 Rul e 424(b)(3) 1y r J. P . Morgan E f ficient e ® Plu s D S 5 Inde x (Net ER ) Notes The following is a summary of the terms of the notes offered by the preliminary pricing supplement hyperlinked below. Overview The notes provide exposure to the J.P. Morgan Efficiente Plus DS 5 Index (Net ER) (the “Index”), a member of J.P. Morgan’s family of Efficiente indices that takes advantage of the convenience of exchange traded products as well as the rapidly growing investment options available with ETFs to provide exposure to a wide range of asset classes and regions. On a monthly basis, the Index s elects from a universe of 20 ETFs and a cash index (together, the “Basket Constituents”), in accordance with the index methodology. The Index attempts to maintain its 5% volatility threshold on a daily basis by varying the exposure the Index takes to the Basket Constituents daily increasing the exposure to the Basket Constituents when the volatility of the portfolio decreases, and decreasing the exposure when the volatility of the portfolio increases, subject to certain constraints. The Index levels incorporate the daily deduction of a notional financing cost and a daily deduction of 0.85% per annum. Summary of Terms Issuer: Guarantor: Minimum Denomination: Index: Index Ticker: Pricing Date: Observation Date: Maturity Date: Participation Rate: Additiona l Amount: Payment at Maturity: CUSIP: JPMorgan Chase Financial Company LLC JPMorgan Chase & Co. $1,000 J.P. Morgan Efficiente ® Plus DS 5 Index (Net ER) EFPLUS5D October 31, 2023 November 05, 2024 November 08, 2024 At least 180.00%* $1,000 x Index Return x Participation Rate At maturity, you will receive a cash payment, for each $1,000 principal amount note, of $1,000 plus the Additional Amount, provided the Additional Amount will not be less than zero. You are entitled to repayment of principal in full at maturity, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co. 48134BAB9 Preliminary Pricing Supplement: http://sp.jpmorgan.com/document/cusip/48134BAB9/doctype/Product_Termsheet/document.pd f Estimated Value: The estimated value of the notes, when the terms of the notes are set, will not be less than $900.00 per $1,000 principal amount note. For more information about the estimated value of the notes, which will be lower than the price you paid for the notes, please see the hyperlink above. Any payment on the notes is subject to the credit risk of JPMorgan Chase Financial Company LLC, as issuer of the notes, and JPMorgan Chase & Co., as guarantor of the notes. *The actual Participation Rate will be provided in the pricing supplement and will not be less than 180.00%. **Reflects Participation Rate equal to the minimum Participation Rate set forth herein, for illustrative purposes. The "total return" as used above is the number, expressed as a percentage, that results from comparing the payment at maturity per $1,000 principal amount note to $1,000. The hypothetical returns shown above apply only at maturity. These hypotheticals do not reflect fees or expenses that would be associated with any sale in the secondary market. If these fees and expenses were included, the hypothetical returns shown above would likely be lower. Investing in the notes linked to the Index involves a number of risks. See "Selected Risks" on page 2 of this document, "Risk Factors" in the prospectus supplement, and the relevant product supplement and the underlying supplement and "Selected Risk Considerations" in the relevant pricing supplement. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this document or the relevant product supplement or underlying supplement or the prospectus supplement or the prospectus. Any representation to the contract is a criminal offense. Hypothetical Returns on the Notes at Maturity** Index Performance Note Payoff at Maturity Payment at Maturity Index Return Hypothetical Payment at Maturity (per $1,000 Note) T ota l Return on the Notes Hypothetical Inde x Return $2,440.00 144.00% 80.00% $1,900.00 90.00% 50.00% $1,720.00 72.00% 40.00% $1,540.00 54.00% 30.00% $1,360.00 36.00% 20.00% $1,180.00 18.00% 10.00% $1,090.00 9.00% 5.00% $1,000.00 0.00% 0.00% $1,000.00 0.00% - 5.00% $1,000.00 0.00% - 15.00% $1,000.00 0.00% - 30.00% $1,000.00 0.00% - 100.00% J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_investments@jpmorgan.com

North America Structured Investments 1y r J. P . Morgan E f ficient e ® Plu s D S 5 Inde x (Net ER ) Notes Ɣ ● The Index seeks to provide a dynamic and diversified asset allocation based on modern portfolio theory. The Index tracks the return of (a) a notional dynamic portfolio consisting of up to 20 exchange traded funds, in each case with distributions, if any, notionally reinvested, and the J.P. Morgan Fallback Cash Index, less (b) the daily deduction of a notional financing cost and a daily deduction of 0.85% per annum, while targeting a specific volatility on a daily basis. The Basket Constituents are as follows (see applicable underlying supplement and term sheet for more information): Selected Benefits Selected Risks (continued) iShares ® MSCI EAFE Small - Cap ETF Vanguard FTSE Developed Markets ETF Vanguard Small - Cap ETF Vanguard S&P 500 ETF iShares ® iBoxx $ Investment Grade Corporate Bond ETF iShares ® 7 - 10 Year Treasury Bond ETF iShares ® 20+ Year Treasury Bond ETF Vanguard FTSE Emerging Markets ETF PIMCO 0 - 5 Year High Yield Corporate Bond Index ETF SPDR ® Bloomberg High Yield Bond ETF Vanguard Short - Term Corporate Bond ETF iShares ® TIPS Bond ETF Vanguard Real Estate ETF iShares ® J.P. Morgan USD Emerging Markets Bond ETF iShares ® Preferred and Income Securities ETF Invesco Senior Loan ETF iShares ® Gold Trust Invesco DB Commodity Index Tracking Fund Alerian MLP ETF VanEck ® Gold Miners ETF J.P. Morgan Fallback Cash Index Selected Risks Ɣ Ɣ The notes may not pay more than the principal amount at maturity. The level of the Index will reflect a 0.85% per annum daily deduction and the deduction of a notional financing cost. The Index is subject to concentration risk in its allocation among the Basket Constituents. The Index involves risks associated with the Index’s momentum investment strategy, which may not be successful, and the Index may not approximate its initial volatility threshold or outperform an alternative strategy . Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ Ɣ ● Any payment on the notes is subject to the credit risks of JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. Therefore the value of the notes prior to maturity will be subject to changes in the market’s view of the creditworthiness of JPMorgan Chase Financial Company LLC or JPMorgan Chase & Co. Risks associated with non U.S. securities market (including emerging markets and currency exchange risks), small capitalization stocks, preferred stocks and hybrid securities, fixed income securities and loans (including interest rate related and credit risks), mortgage backed securities, leveraged loans, REITs and master limited partnerships, commodity futures, gold and the uncertain legal and regulatory regimes that govern commodity futures. No interest payments, dividend payments or voting rights. As a finance subsidiary, JPMorgan Chase Financial Company LLC has no independent operations and has limited assets. Changes in the value of Basket Constituents may offset each other. The daily adjustment of the exposure of the Index to the monthly portfolio(s) of Basket Constituents may cause the Index not to reflect fully any price appreciation or to magnify any price depreciation of the monthly portfolio(s). We may determine the Additional Amount for your notes early if a commodity hedging disruption event occurs. Our affiliate, J.P. Morgan Securities LLC (who we refer to as JPMS), the index sponsor and index calculation agent may adjust the Index in a way that affects its level. The estimated value of the notes will be lower than the original issue price (price to public) of the notes. The estimated value of the notes is determined by reference to an internal funding rate. The estimated value of the notes does not represent future values and may differ from others’ estimates. The value of the notes, which may be reflected in customer account statements, may be higher than the then current estimated value of the notes for a limited time period. Lack of liquidity: JPMS intends to offer to purchase the notes in the secondary market but is not required to do so. The price, if any, at which JPMS will be willing to purchase notes from you in the secondary market, if at all, may result in a significant loss of your principal. Potential conflicts: We and our affiliates play a variety of roles in connection with the issuance of notes, including acting as calculation agent and hedging our obligations under the notes, and making the assumptions used to determine the pricing of the notes and the estimated value of the notes when the terms of the notes are set. It is possible that such hedging or other trading activities of J.P. Morgan or its affiliates could result in substantial returns for J.P. Morgan and its affiliates while the value of the notes decline. The tax consequences of the notes may be uncertain. You should consult your tax adviser regarding the U.S. federal income tax consequences of an investment in the notes. The risks identified above are not exhaustive. Please see "Risk Factors" in the prospectus supplement and the applicable product supplement and underlying supplement and "Selected Risk Considerations" in the applicable preliminary pricing supplement for additional information. Additional Information Any information relating to performance contained in these materials is illustrative and no assurance is given that any indicative returns, performance or results, whether historical or hypothetical, will be achieved. These terms are subject to change, and J.P. Morgan undertakes no duty to update this information. This document shall be amended, superseded and replaced in its entirety by a subsequent preliminary pricing supplement and/or pricing supplement, and the documents referred to therein. In the event any inconsistency between the information presented herein and any such preliminary pricing supplement and/or pricing supplement, such preliminary pricing supplement and/or pricing supplement shall govern. Past performance, and especially hypothetical back - tested performance, is not indicative of future results. Actual performance may vary significantly from past performance or any hypothetical back - tested performance. This type of information has inherent limitations and you should carefully consider these limitations before placing reliance on such information. IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax - related penalties. Investment suitability must be determined individually for each investor, and the financial instruments described herein may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own advisers as to these matters. Free Writing Prospectus Filed Pursuant to Rule 433, Registration Statement Nos. 333 - 270004 and 333 - 270004 - 01 J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_investments@jpmorgan.com