Vanguard ESG EUR Corporate Bond UCITS ETF (EUR) AccumulatingIndex, costs, backtest, listings and taxation

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The Fund employs a passive management – or indexing – investment approach, through physical acquisition of securities, and seeks to track the performance of the Bloomberg MSCI EUR Corporate Liquid Bond Screened Index (the “Index”). In tracking the performance of the Index, the Fund will invest in a EUR denominated portfolio of investment grade corporate fixed-rate bonds that so far as possible and practicable consists of a representative sample of the component securities of the Index. The Index is constructed from the Bloomberg Euro-Aggregate Corporate Index (the “Parent Index”) which represents a similar investment universe which is then screened for certain environmental, social, and governance (i.e. controversy-related) criteria (the "screening criteria"), by Bloomberg as the sponsor of the Index, which is independent of Vanguard. Through the screening out of bonds issued by corporate issuers from its portfolio based on the potentially detrimental impact of the relevant corporate issuer’s conduct or products on society and / or the environment, the Fund promotes certain environmental characteristics and social characteristics relating to social norms and standards. The Index methodology excludes the bonds of corporate issuers that MSCI determines (a) to be engaged in activities in or involved in specific parts of the supply chain for, and/or (b) derive revenue (above a threshold specified by the Index provider) from, certain business segments of activities related to the following: (i) adult entertainment, (ii) alcohol, (iii) gambling, (iv) tobacco, (v) nuclear weapons, (vi) controversial weapons, (vii) conventional weapons, (viii) civilian firearms, (ix) nuclear power, or (x) fossil fuels (which includes thermal coal, oil, gas, oil sands, arctic oil or arctic gas). The index provider defines what constitutes “involvement” in each activity. This may be based on percentage of revenue or any connection to a restricted activity regardless of the amount of revenue received, and will relate to specific parts of the supply chain. The Index methodology also excludes the bonds of corporate issuers that have a controversy score of zero as defined by MSCI's ESG controversies assessment framework. The Fund invests in securities which are denominated in currencies other than the base currency. Movements in currency exchange rates can affect the return of investments. The Fund's investments will, at the time of purchase, comply with the screening criteria, except as otherwise described below or in the Prospectus. In circumstances where the Fund holds securities which do not adhere to the screening criteria, the Fund may temporarily hold such securities until such time as they cease to form part of the Index and it is possible and practicable (in the investment manager's view) to liquidate the position. The Fund attempts to remain fully invested and hold small amounts of cash except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy to avoid losses. Where MSCI has insufficient or no data available to adequately assess a particular issuer relative to the ESG criteria of the Index, bonds of such issuer may be excluded from the Index until such time as they may be determined to be eligible by MSCI. The Fund may also hold fixed-rate government and corporate bonds that are not component securities of the Index, but whose risk and return characteristics closely resemble the risk and return characteristics of constituents of the Index or of the Index as a whole and which, in the case of corporate bonds, meet the screening criteria. The Fund follows a binding and significant ESG integration approach in accordance with the Position-recommendation AMF 2020-03 (available at https://www.amf-france.org/en/regulation/policy/doc-2020-03). The Fund may use derivatives in order to reduce risk or cost and/or generate extra income or growth. A derivative is a financial contract whose value is based on the value of a financial asset (such as a share, bond, or currency) or a market index. Derivatives on an index (e.g. swaps, futures) may contain some underlying constituents which may not meet the screening criteria. ETF Shares in the Fund can be bought or sold on a daily basis (save on certain bank holidays or public holidays and subject to certain restrictions described in the Prospectus). ETF Shares are listed on one or more stock exchange(s). Subject to certain exceptions set out in the Prospectus, investors who are not Authorised Participants may only buy or sell ETF Shares through a company that is a member of a relevant stock exchange at any time when that stock exchange is open for business. A list of the days on which shares in the Fund cannot be bought or sold is available on: https://fund-docs.vanguard.com/holiday-calendar-vanguard-funds-plcETFs.pdf Income from the ETF Shares will be reinvested and reflected in the price of shares in the ETF. VF is an umbrella Fund with segregated liability between sub-funds. This means that the holdings of the Fund are maintained separately under Irish law from holdings of other sub-funds of VF and your investment in the Fund will not be affected by any claims against any other sub-fund of VF.

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Intended retail investor:The Fund is available to a wide range of investors seeking access to a portfolio managed in accordance with a specific investment objective and policy. The VF depositary is Brown Brothers Harriman Trustee Services (Ireland) Limited. You can obtain copies of the Prospectus and the latest annual and semiannual report and accounts for Vanguard Funds plc (“VF”) along with the latest published prices of shares and other practical information, from VF c/o Brown Brothers Harriman Fund Administration Services (Ireland) Limited, 30 Herbert Street, Dublin 2, D02 W329, Ireland or from our website at https://global.vanguard.com. Information on the Fund's portfolio disclosure policy and publication of the iNAV can be obtained at https://global.vanguard.com/portal/site/portal/ucits-documentation. The documents are available in English and are free of charge.

Countries

• Directazero on single buys from 2,500 €, agreement until 31 December 2026

• Directazero on single buys from 2,500 €, agreement until 31 December 2026