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 aim of the Fund is to provide exposure to a portfolio of companies within the FTSE Japan Index (Index) that is managed, using environmental, social and governance (ESG) related exclusionary screens and a proprietary ESG framework of the Investment Manager (IM), to 1) have a reduced exposure to certain business activities for ESG related reasons, 2) have a higher weighted average exposure (relative to the Index) to companies that score more highly on certain ESG criteria, 3) reduce its overall carbon emission intensity over time, and d) have a higher percentage (relative to the Index) of its revenues classified as green revenues (each as further described below). It aims to achieve these ESG related aims whilst also balancing the return and risk profiles of the Fund to be broadly similar to the Index. The Fund seeks to provide a return on your investment (generated through the value of the assets held by the Fund and/or income received from those assets) and maintain a risk profile (i.e. an evaluation of the risks (e.g. risk of losses) associated with the portfolio) that (in each case) is broadly similar to that of the Index. Although the Fund aims to achieve its investment objective, there is no guarantee that this will be achieved.