Global High Yield Corporate Bond Multi-Factor Active UCITS ETF EUR HedgedIndex, costs, backtest, listings and taxation

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Investment Objective: The objective of the Sub-Fund is to achieve a long-term return in excess of the Benchmark by actively investing primarily in a portfolio of below investment grade corporate debt securities, globally.

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Investment Policy:The Sub-Fund pursues and actively-managed investment strategy. The Sub-Fund aims to invest at least 67% of its assets (excluding assets held for ancillary liquidity purposes) in below investment grade corporate debt securities. Issuers of these securities may be located in any country, including emerging markets. The Sub-Fund systematically includes ESG analysis in its investment decisions on at least 75% of non-investment grade and emerging market securities purchased. Pursuant to the Sub-Fund's ESG analysis, at least 51% of the Sub-Fund's Net Asset Value is invested in issuers with positive environmental and/or social characteristics that follow good governance practices, as measured through the Investment Manager's proprietary ESG scoring methodology and/or third party data. The Sub-Fund promotes environmental and/or social characteristics. Further details on the ESG analysis applied are provided below. The Sub-Fund invests at least 10% of its Net Asset Value in Sustainable Investments, as defined under SFDR, contributing to environmental or social objectives. The Investment Manager evaluates and applies values and norms based screening to implement exclusions on certain industries and issuers based on specific ESG criteria and/or minimum standards of business practice based on international norms. To support this screening, the Investment Manager relies on third party provider(s) who identify an issuer's participation in or the revenue which they derive from activities that are inconsistent with the values and norms based screens. The list of screens applied that may result in exclusions can be found on the Website (www. jpmorganassetmanagement.ie). The Investment Manager aims to outperform the Benchmark over the longterm by investing in below investment grade corporate debt securities globally which display certain factor characteristics more strongly when compared to their peer group (i.e. other corporate bonds in the same market sector, denominated in the same currency and with similar creditworthiness). Factors are characteristics that describe the risk and return profile of securities from which investors expect to achieve above average returns over time, through assuming a particular risk or taking advantage of a behavioural bias. The Investment Manager selects securities by applying a quantitative security selection process that uses multiple factors, refered to as "multifactor". This process involves selecting below investment grade corporate debt securities issued globally according to an overall multi-factor score derived from equally weighting the three factors described below: • Value — the tendency of securities trading at a wider spread relative to their fundamental characteristics (such as default probability) to generate more attractive returns over the long term. • Momentum — the tendency of securities which have exhibited higher returns to continue to exhibit more attractive returns relative to their volatility. • Quality — the tendency of securities of financially-stable entities (based on

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