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 Small Cap ESG Screened Index, the Fund’s benchmark index (“Benchmark Index”). The Fund invests in equity securities (e.g. shares) of companies that make up the Benchmark Index. Derivatives (i.e. investments the prices of which are based on one or more underlying assets) may also be used for investment and efficient portfolio management purposes. The use of derivatives is expected to be limited. The Fund is passively managed and the investment adviser has limited discretion to select the Fund’s investments and in doing so may take into consideration the Benchmark Index.