State Street® SPDR® S&P Developed Quality Aristocrats UCITS ETF (Acc)Index, costs, backtest, listings and taxation

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Investment objective The investment objective of the Fund is to track the performance of large and mid-sized equities in 'developed markets" (as such term is defined by the Index Provider) globally ("Developed Markets"). The Fund seeks to track the performance of the S&P Developed Quality FCF Aristocrats Index (the "Index") as closely as possible. The Fund is an index tracking fund (also known as a passively managed fund). Investment policies The Fund invests primarily in securities included in the Index. The Index measures the performance of Developed Markets companies exhibiting higher quality characteristics relative to the overall companies in the S&P Developed LargeMidCap Index (the 'Parent Index'). In order to be considered to exhibit higher quality characteristics, securities in the Parent Index must first satisfy the multiple consecutive years of positive free cash flow ("FCF") criteria. Then, for the remaining securities, the top 100 securities with the highest "Quality Score" (based on 5-year average FCF margin and 5-year average FCF return on invested capital as described below)) are selected as Index constituents. The first step in calculating the "Quality Score" is to calculate, as of the Index rebalancing reference date, the two fundamental ratios below for each security in the Index universe. They are defined as follows: • FCF Margin = FCF / Revenue • Return on invested capital ("FCF ROIC") = FCF / (Total Debt + Total Equity) Where: • FCF = Net Cash Flow from Operating Activities - Capital Expenditures. The second step is to calculate the five-year average for both FCF Margin and FCF ROIC. Where there is a missing value, the five-year average is calculated by taking a simple average of the remaining values. Index constituents are weighted based on the product of floated-adjust market capitalisation and Quality Score. Index constituents may on occasion be rebalanced more often than the Index Rebalance Frequency, if required by the Index methodology, including for example where corporate actions such as mergers or acquisitions affect components of the Index. Please refer to the Index methodology for more details of Quality Score. The Investment Manager and/or Sub-Investment Manager, on behalf of the Fund, will invest using the replication strategy as further described in the "Investment Objectives and Policies – Index Tracking Funds" section of the Prospectus, primarily in the securities of the Index, at all times in accordance with the Investment Restrictions set forth in the Prospectus. The Investment Manager and/or Sub-Investment Manager also may, in exceptional circumstances, invest in securities not included in the Index but that it believes closely reflect the risk and distribution characteristics of securities of the Index. The equity securities in which the Fund invests will be primarily listed or traded on Recognised Markets in accordance with the limits set out in the UCITS Regulations. Details of the Fund's portfolio and the indicative net asset value per Share for the Fund are available on the Website daily. The Fund may use financial derivative instruments (that is, financial contracts whose prices are dependent on one or more underlying assets) in order to manage the portfolio efficiently. Save in exceptional circumstances, the Fund will generally only issue and redeem shares to certain institutional investors. However, shares of the Fund may be purchased or sold through brokers on one or more stock exchanges. The Fund trades on these stock exchanges at market prices which may fluctuate throughout the day. Market prices may be greater or less than the daily net asset value of the Fund. The Fund's maximum exposure to securities lending as a percentage of its Net Asset Value will not exceed 40%. Shareholders may redeem shares on any UK business day (other than days on which relevant financial markets are closed for business and/or the day preceding any such day provided that a list of such closed market days will be published for the Fund on www.ssga.com); and any other day at the Directors' discretion (acting reasonably) provided Shareholders are notified in advance of any such days. Any income earned by the Fund will be retained and reflected in an increase in the value of the shares. The Shares of the USD Class are issued in U.S. Dollar. Index Source: The Index is a trademark of S&P Global Inc., or its affiliates, and have been licensed for use by S&P Dow Jones Indices LLC ("S&P") and sub-licensed for use to State Street Investment Management ("State Street"). The Fund is not sponsored, endorsed, sold or promoted by S&P, its affiliates, or its third party licensors. Please see the Prospectus for the full index disclaimer.

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Intended retail investorThis Fund is intended for investors who plan to stay invested for at least 5 years and are prepared to take on a medium-high level of risk of loss to their original capital in order to get a higher potential return. It is designed to form part of a portfolio of investments. Practical information Depositary The Fund depositary is State Street Custodial Services (Ireland) Limited.

Countries

• BG Saxozero within the savings plan (buys)