Index history does not represent trades that have actually been executed and therefore may under or over compensate for the impact, if any, of certain market factors, such as illiquidity. No representation is being made that an actual investment in accordance with the above will or is likely to achieve profits or losses similar to the index history. Indexes are unmanaged and do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in an investable product. An index’s performance is not illustrative of an investable product’s performance. Indexes are not securities in which direct investments can be made.

Important information about the iShares® Funds

iShares® ETFs are managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or operational charges or income taxes payable by any securityholder that would have reduced returns. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

Index returns are denominated in Canadian Dollars for all funds, except XIG and XHY. For XIG and XHY, index returns shown are denominated in U.S. Dollars. Fund returns are denominated in Canadian Dollars for all iShares ETFs.

Although BlackRock Asset Management Canada Limited (together with its affiliates, “BlackRock”) shall obtain data from sources that BlackRock considers reliable, all data contained herein is provided “as is” and BlackRock makes no representation or warranty of any kind, either express or implied, with respect to such data, the timeliness thereof, the results to be obtained by the use thereof or any other matter. BlackRock expressly disclaims any and all implied warranties, including without limitation, warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose.

Index-Related Risks

In order to meet its investment objective, each iShares® fund will seek to achieve a return which reflects the return of its benchmark index as published by the relevant index provider. While index providers do provide descriptions of what each benchmark index is designed to achieve, index providers do not generally provide any warranty or accept any liability in relation to the quality, accuracy or completeness of data in respect of their benchmark indices, nor any guarantee that the published indices will be in line with their described benchmark index methodologies. Errors in respect of the quality, accuracy and completeness of the data may occur from time to time.

In addition, apart from scheduled rebalances, index providers may carry out additional ad hoc rebalances to their benchmark indices in order to, for example, correct an error in the selection of index constituents. Where the benchmark index of a fund is rebalanced and the fund in turn rebalances its portfolio to bring it in line with its benchmark index, any transaction costs arising from such portfolio rebalancing will be borne by the fund and, by extension, its unitholders.

Therefore, errors and additional ad hoc rebalances carried out by an index provider to a fund’s benchmark index may increase the costs of the fund.

There is no assurance that a fund’s benchmark index will continue to be calculated and published on the basis described in the fund’s prospectus or that it will not be amended significantly. The past performance of each benchmark index is not a guide to future performance.

MSCI® and EAFE® are trademarks of MSCI, Inc. (“MSCI”). XBZ, XEC, XEF, XEH, XEM, XEU, XIN, XMI, XMM, XMU, XMV, XMW, XWD, XAW, XFH, XFC, XFI, XFF, XFS and XFA are permitted to use the MSCI mark and, as applicable, the EAFE mark pursuant to a license agreement between MSCI and BlackRock Institutional Trust Company, N.A., relating to, among other things, the license granted to BlackRock Institutional Trust Company, N.A. to use the indices. BlackRock Institutional Trust Company, N.A. has sublicensed the use of these trademarks to BlackRock Asset Management Canada Limited. XBZ, XEC, XEF, XEH, XEM, XEU, XIN, XMI, XMM, XMU, XMV, XMW, XWD, XAW, XFH, XFC, XFI, XFF, XFS and XFA are not sponsored, endorsed, sold or promoted by MSCI and MSCI makes no representation, condition or warranty regarding the advisability of investing in XBZ, XEC, XEF, XEH, XEM, XEU, XIN, XMI, XMM, XMU, XMV, XMW, XWD, XAW, XFH, XFC, XFI, XFF, XFS and XFA.

iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. Used with permission.

iSC-1157