JNL Series Trust 485BPOS

Ex. 99.28(d)(43)(iii)

AMENDMENT TO

INVESTMENT SUB-ADVISORY AGREEMENT

Between

T. ROWE PRICE ASSOCIATES, INC.

and

T. ROWE PRICE INVESTMENT MANAGEMENT, INC.

This Amendment (the “Amendment”) to the Investment Sub-advisory Agreement (the “Agreement”) is effective April 27, 2026, by and between T. Rowe Price Associates, Inc. (the “Adviser”), a corporation organized and existing under the laws of the State of Maryland, United States of America, and T. Rowe Price Investment Management, Inc. (the “Subadviser”), a corporation organized and existing under the laws of the State of Maryland, United States of America, with respect to each series of JNL Series Trust set forth on Schedule 1 attached hereto (each, a “Fund” and collectively, the “Funds”) as of the date indicated thereof, as it may be amended from time to time.

W I T N E S S E T H:

WHEREAS, the parties hereto entered into the Agreement dated as of March 7, 2022; and

WHEREAS, the parties hereto desire to remove the JNL/T. Rowe Price Balanced Fund, the JNL/T. Rowe Price Mid-Cap Growth Fund, and the JNL/T. Rowe Price U.S. High Yield Fund from the Agreement.

NOW, THEREFORE, in consideration of the premises and the mutual promises hereinafter set forth, the parties hereto agree as follows:

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be signed by their respective officers thereunto duly authorized and their respective seals to be hereunto affixed, effective as of the day and year first above written. 

SCHEDULE 1