The Fund is a sub-fund of BlackRock Authorised Contractual Scheme I taking the form of a Co-ownership Scheme. As a consequence of this, the Fund may be treated as tax transparent for the purpose of income and/or capital gains by relevant taxing jurisdictions. Each investor should take appropriate professional advice as to the tax treatment of their investment in the Fund. Investors in the Fund must be Eligible Investors as defined in the Fund’s prospectus and must have completed all relevant documentation prior to the purchase of units in the Fund. The Fund aims to provide a return on your investment (generated through an increase to the value of the assets held by the Fund and/or income received from those assets) by tracking closely the performance of the MSCI World Select Multiple Factor ESG Low Carbon Target Index, the Fund’s benchmark index (the “Benchmark Index”). The Fund invests in equity securities (e.g. shares) of companies that make up the Benchmark Index. Derivatives may also be used for investment and efficient portfolio management purposes (i.e. the price of an investment is based on one or more underlying asset). The use of derivatives is expected to be limited. The Benchmark Index is constructed using individual equity security exposures to the target factors along with specific environmental, social and governance (“ESG”) score and carbon exposure criteria. The Benchmark Index aims to maximize exposure to the target “style” factors (as described in the paragraph below) while improving the ESG profile and reducing the carbon exposure (carbon emissions relative to sales and potential carbon emissions per dollar of market capitalisation) relative to that of the MSCI World Index (the “Parent Index”). The Fund may obtain indirect exposure (through including but not limited to, derivatives and units in collective investment schemes) to securities considered not to satisfy the ESG criteria.