iShares iBonds Dec 2028 Term $ High Yield Corp UCITS ETFIndex, costs, backtest, listings and taxation

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The Share Class is a share class of a Fund which aims to achieve a return on your investment through a combination of capital growth and income on the Fund’s assets, which reflects the return of the Bloomberg MSCI December 2028 Maturity USD Corporate High Yield Custom ESG Screened Index, the Fund’s benchmark index (Index). The Share Class, via the Fund, is passively managed and aims to invest so far as possible and practicable in the fixed income securities that make up the Index and comply with its credit rating requirements. To be eligible for inclusion in the Index the fixed-rate corporate bonds must (i) be USD denominated (ii) mature between 01/01/2028 and 02/12/2028 (iii) comply with the Index requirements in relation to the minimum outstanding amount of each bond issuance and (iv) comply with the credit rating requirements of the Index. The Index is comprised of high yield bonds until approximately 16 months prior to the Index’s final maturity date. After that point, the Index will become a composite index, comprised of sub-indices of high yield and investment grade bonds maturing in the final year of maturity. The Index applies screens which exclude issuers that are involved in certain activities as set out in the Fund’s prospectus. The Index also excludes issuers with a ‘Red’ MSCI ESG Controversies score (equal to 0) or that are not in compliance with the United Nations Global Compact (UNGC) Principles and issuers that have not been assessed as part of the exclusions or researched for an MSCI ESG Controversies Score or compliance with UNGC principles. The Index is market value weighted, with a percentage cap placed on each issuer, in accordance with the Index methodology and rebalances on a monthly basis. It is a term of investment in the Fund that Shareholders on 02/12/2028 will have their Shares redeemed without further notice or Shareholder approval on 03/12/2028. The Fund uses optimising techniques to achieve a similar return to its Index. The Fund may use FDIs for direct investment purposes. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to offset the costs of the Fund. The Fund may obtain limited exposure to securities which do not satisfy the ESG criteria.

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The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of your investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield. The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”)

The depositary of the Fund is The Bank of New York Mellon SA/NV, Dublin Branch. Recommendation: This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index. This Fund may not be appropriate for investors who plan to withdraw their money before 02/12/2028. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares II plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be distributing shares (i.e. income will be paid on the shares quarterly). Your shares will be denominated in US Dollar, the Fund's base currency. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

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