The Fund is a sub-fund of BlackRock Authorised Contractual Scheme I taking the form of a Co-ownership Scheme. As a consequence of this, the Fund may be treated as tax transparent for the purpose of income and/or capital gains by relevant taxing jurisdictions. Each investor should take appropriate professional advice as to the tax treatment of their investment in the Fund. Investors in the Fund must be Eligible Investors as defined in the Fund’s prospectus and must have completed all relevant documentation prior to the purchase of units in the Fund. The aim of the Fund is to provide exposure to a portfolio of companies within the FTSE Developed Europe ex UK Index (Index) that is managed, using environmental, social and governance (ESG) related exclusionary screens and a proprietary ESG framework of the Investment Manager (IM) (as described in the Fund’s prospectus), to 1) have no exposure or a reduced exposure (relative to the Index) to certain business activities for ESG related reasons, 2) reduce its overall carbon emission intensity over time relative to the Index, and 3) have a higher percentage (relative to the Index) of its revenues classified as green revenues; 4) maximise exposure to companies with higher BSI Intel scores (relative to the Index) (each as further described below). It aims to achieve these ESG related aims whilst also balancing the return and risk profiles of the Fund to be broadly similar to the Index. The Fund seeks to provide a return on your investment (generated through the value of the assets held by the Fund and/or income received from those assets) and maintain a risk profile (i.e. an evaluation of the risks (e.g. risk of losses) associated with the portfolio) that (in each case) is broadly similar to that of the Index. Although the Fund aims to achieve its investment objective, there is no guarantee that this will be achieved. The Fund will seek to achieve its investment objective by investing in equity securities (i.e. shares) of companies within the Index or proxies thereof (i.e. securities used as substitutes for equity securities of companies within the Index). The Fund may also invest in equity-related securities (i.e. other investments whose value is related to equities), money market instruments (i.e. debt instruments with short-term maturities), cash and other funds (including exchange traded funds). The Fund may use derivatives (i.e. investments the prices of which are based on one or more underlying assets) to help achieve its investment objective or for efficient portfolio management purposes (EPM) (i.e. to reduce risk or costs within the Fund's portfolio, or generate additional income). The Fund may engage in short-term secured lending of its investments to certain eligible third parties to generate additional income and off-set costs.