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M UL ULTI UNITS LUXEMBOURG

GE DI:2375803v4 GEDI:2375803v10

MULTI UNITS LUXEMBOURG Société d’investissement à capital variable Luxembourg

Prospectus

September 2026

This prospectus (the “ Prospectus ”) is valid only if it is accompanied by the latest available annual report and, where applicable, by the non-audited semi-annual report, if published since the last annual report. These reports form an integral part of this Prospectus.

In addition to this Prospectus, the Company has also adopted a KID per Class of Shares which contains the key information about each Class of Shares. The KID is av ailable free of charge at the registered office of the Company and of the Depositary.

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MULTI UNITS LUXEMBOURG

MULTI UNITS LUXEMBOURG Société d’investissement à capital variable Registered Office: 9, rue de Bitbourg, L-1273 Luxembourg R.C.S. Luxembourg B 115 129

OFFER FOR SHARES

This is an offer to subscribe for shares (the " Shares ") issued without par value in MULTI UNITS LUXEMBOURG (the " Company "), each Share being linked to one sub-fund of the Company (the " Sub-Fund(s) "), as specified below.

The Shares in each of the Sub-Funds may be divided into classes (the " Classes "). For further information about the rights attaching to the various Classes of Shares, see paragraph "Classes of Shares".

IMPORTANT INFORMATION

If you are in any doubt about the contents of this Prospectus, you should consult your stockbroker, attorney, accountant or other financial advisor. No person is authorised to give any information other than that contained in this Prospectus and in the KID relating to each Sub-Fund, or any of the documents referred to herein that are available for public inspection at 9, rue de Bitbourg, L-1273 Luxembourg.

- The Company is registered in the Grand Duchy of Luxembourg as an undertaking for collective investment in transferable securities (a " UCITS ") under the form of an investment company with variable share capital (" SICAV "). However, such registration does not imply a positive assessment by the supervisory authority of the contents of this Prospectus or any KID or of the quality of the Shares offered for sale. Any representation to the contrary is unauthorised and unlawful.

- This Prospectus and/or more generally any information or documents with respect to or in connection with the Company and/or the Sub-Funds does not constitute an offer to anyone or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation.

- Any information given by any person not mentioned in this Prospectus should be regarded as unauthorised. The Board of Directors has taken the precautions that the information contained in this Prospectus is accurate at the date of its publication and accepts responsibility accordingly. To reflect material changes, this Prospectus may be updated from time to time and potential subscribers should enquire from the

Company as to the issue of any later Prospectus and KID.

- The circulation and distribution of this Prospectus, as amended and restated from time to time, together with the KIDs and the offering of the Shares may be restricted in certain jurisdictions. Person receiving the Prospectus and/or more generally any information or documents with respect or in connection with the Company and/or the Sub-Funds are required by the Company to inform themselves and to observe all applicable restrictions. The offer, sale or purchase of Shares, or the distribution, circulation or possession of the Prospectus and/or any information or documents with respect to or in connection with the Company and/or the Sub-Funds, shall be made in compliance with all applicable laws and regulations in force in any jurisdiction in which such offer, sale or purchase of Shares is made, or in which the distribution, circulation or possession of the Prospectus and/or any information or documents with respect to or in connection with the Company and/or the Sub-Funds occurs, including the obtaining of any consent, approval or permission required by such applicable laws and regulations, the satisfaction of any other formalities needing to be observed and the payment of any issuance, transfer or other taxes to be paid in such jurisdiction. It is the responsibility of any person in possession of this Prospectus and of the KIDs and any person wishing to subscribe for Shares pursuant to this Prospectus and the KIDs to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdictions, including the obtaining of any government or other consents which may be required, the satisfaction of any other formalities needing to be observed and the payment of any issuance, transfer or other taxes requiring to be paid in such jurisdiction. Potential subscribers or purchasers of Shares should inform themselves as to the possible tax consequences, the legal requirements and any foreign exchange restrictions or exchange control requirements which they might encounter under the laws of the countries of their citizenship, residence or domicile and which might be relevant to the subscription, purchase, holding, conversion or sale of Shares.

TARGETED INVESTORS

The profile of the typical investor per each Sub Fund is described in each Appendix annexed to the present Prospectus and in each of the KIDs.

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MULTI UNITS LUXEMBOURG

“U.S. Persons” (as defined below) will not invest in the Sub-Funds.

HISTORICAL PERFORMANCES

The historical performance analysis of each Class of Shares will be presented in the relevant “Past performance” section of www.amundietf.com if one complete calendar year of past performances is available after the launching of the concerned Class of Shares.

DISTRIBUTION AND SELLING RESTRICTIONS

At the date of this Prospectus, the Company has been authorised for offering in Luxembourg. The Company or specific Sub-Fund(s) may be also authorised for distribution in other jurisdictions. A list of the countries where part or all the Sub Funds are authorized for distribution can be obtained from the registered office of the Company.

This Prospectus cannot be distributed for the purpose of offering or marketing the Shares in any jurisdiction or in any circumstances where such offering or marketing is not authorised.

No person receiving a copy of this Prospectus and of the KIDs in any jurisdiction may treat this Prospectus and the KIDs as constituting an invitation or offer to him to subscribe for Shares unless in the relevant jurisdiction such an invitation or offer could lawfully be made to him without compliance with any registration or other legal requirements.

No person has been authorised to give any information or make any representations, other than those contained in this Prospectus, in connection with the offering of Shares and, if given or made, such information or representations must not be relied on as having been authorised by the Company. You should ensure the Prospectus you receive has not been modified, amended or restated by any further versions. However, neither the delivery of this Prospectus, nor the issue of the Shares shall imply that there has been no change in the affairs of the Company since the date hereof.

Shares have not been and will not be registered under the United States Securities Act of 1933 (as amended) (the “ 1933 Act ”) or the securities laws of any of the States of the United States. Shares cannot be offered, sold or delivered directly or indirectly in the United States of America, its territories or possessions or in any State or the District of Columbia (the “ United States ”), or to or for the account or benefit of any U.S. Person (as defined below). No U.S. federal or state securities commission has reviewed or approved this Prospectus. Any representation to the contrary is a criminal offence. Any re-offer or resale of any Shares in the United States or to U.S. Persons may constitute a violation of US law.

Shares will only be offered outside the United States pursuant to Regulation S under the 1933 Act. No holder of Shares will be permitted to sell, transfer or assign directly or indirectly (for example, by way of swap or other derivatives contract, participation or other similar contract or agreement) their Shares to a U.S. Person. Any such sale, transfer or assignment shall be void.

The Company will not be registered under the United States Investment Company Act of 1940, as amended (the “ Investment Company Act ”). Based on interpretations of the Investment Company Act by the staff of the United States Securities and Exchange Commission relating to foreign investment companies, of a Sub-Fund restricts its beneficial owners who are U.S. Persons and does not offer or propose to offer any of its securities publicly, it will not become subject to the registration requirements under the Investment Company Act. To ensure this requirement is maintained, the Directors may require the mandatory repurchase or redemption of Shares beneficially owned by U.S. Persons.

Applicants for Shares will be required to certify that they are not U.S. Persons. All Shareholders are required to notify the Company of any change in their status as non-U.S. Person.

“U.S. Person” shall mean (A) A “U.S. Person” within the meaning of Regulation S under the Securities Act of 1933 of the United States, as amended; or (B) any person other than a “Non United States Person” as defined in CFTC Rule 4.7 (a) (1) (iv); or (C) a “U.S. Person” within the meaning of Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended.

RELIANCE ON THIS PROSPECTUS AND ON THE KIDS

Shares in any Sub-Fund described in this Prospectus as well as in the relevant KIDs are offered only on the basis of the information contained therein and (if applicable) any addendum hereto and the latest audited annual report and any subsequent semi annual report of the Company . Any further information or representations given or made by any distributor, intermediary (the " Intermediary " defined as any sales agent, servicing agent and/or financial intermediary, distributor, appointed to offer and sell the Shares to the investors and handle the subscription redemption, conversion or transfer request of Shareholders), dealer, broker or other person should be disregarded and, accordingly, should not be relied upon. No person has been authorised to give any information or to make any repres entation in connection with the offering of Shares other than those contained in this Prospectus and (if applicable) any addendum hereto and in any subsequent semi-annual or annual report and, if given or made, such information or representations must not be relied on as having been authorised by the Directors, the Management Company, the Depositary, the

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Registrar and Transfer Agent or the Administrative Agent. Statements in this Prospectus and the KIDs are based on the law and practice currently in force in Luxembourg at the date hereof and are subject to change. Neither the delivery of this Prospectus or of the KIDs nor the issue of Shares shall, under any circumstances, create any implication or constitute any representation that the affairs of the Company have not changed since the date hereof.

Prospective investors may obtain, free of charge, on request, a copy of this Prospectus and of the KID(s) relating to the Sub-Fund(s) in which they invest, the annual and semi-annual financial reports of the Company and the Articles of Incorporation at the registered office of the Company or the Depositary.

INVESTMENT RISKS

Investment in any Sub-Fund carries with it a degree of financial risk, which may vary among Sub-Funds. The value of Shares and the return generated from them may go up or down, and investors may not recover the amount initially invested.

The Company does not represent an obligation of, nor is it guaranteed by, the Management Company or any other affiliate or subsidiary of Amundi Asset Management.

MARKET TIMING POLICY

The Company does not knowingly allow investments which are associated with market timing practices, as such practices may adversely affect the interests of all shareholders.

As per the CSSF Circular 04/146, market timing is to be understood as an arbitrage method through which an investor systematically subscribes and redeems or converts units or shares of the same undertaking for collective investment ("UCI") within a short time period, by taking advantage of time differences and/or imperfections or deficiencies in the method of determination of the net asset value of the UCI.

Opportunities may arise for the market timer either if the net asset value (as defined on hereafter) of the UCI is calculated on the basis of market prices which are no longer up to date (stale prices) or if the UCI is already calculating the net asset value when it is still possible to issue orders.

Market timing practices are not acceptable as they may affect the performance of the UCI through an increase of the costs and/or entail a dilution of the profit.

Accordingly, the Directors may, whenever they deem it appropriate and at their sole discretion, cause the Registrar and Transfer Agent and the Administrative Agent, respectively, to implement any of the following measures:

- Cause the Registrar and Transfer Agent to reject any application for conversion and/or subscription of Shares from investors whom the former considers market timers.

- The Registrar and Transfer Agent may combine Shares which are under common ownership or control for the purposes of ascertaining whether an individual or a group of individuals can be deemed to be involved in market timing practices.

- If a Sub-Fund is primarily invested in markets which are closed for business at the time the Sub Fund is valued during periods of market volatility cause the Administrative Agent to allow for the Net Asset Value per Share to be adjusted to reflect more accurately the fair value of the Sub Fund’s investments at the point of valuation.

DATA PROTECTION

In accordance with the provisions of the law of 1st August 2018 on the organization of the National Commission for Data Protection and the general regime on data protection and any other data protection law applicable in Luxembourg, and with the Regulation n°2016/679 of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (the “ Data Protection Law ”), the Company, as data controller (the “ Data Controller ”), collects, stores and/or processes, by electronic or other means, the personal data supplied by the investors at the time of their subscription and/or the prospective investors, for the purpose of fulfilling the services required by the investors and/or the prospective investors and complying with its legal obligations.

The personal data processed includes the name, contact details (including postal and/or e-mail address), banking details and invested amount of each investor (and, if the investor is a legal person, of its contact person(s) and/or beneficial owner(s)) (the “ Personal Data ”).

The investor may, at his/her/its discretion, refuse to communicate the Personal Data to the Data Controller. In this case, however, the Data Controller may refuse to admit the investor’s subscription in the Company.

The Personal Data is processed in order to admit the investor in the Company, perform contracts entered into by the Company, administer the investor’s interest in and operate the Company, for the legitimate interests of the Company and to comply with the legal obligations imposed on it. In particular, such data may be processed for the purposes of: (i) account and distribution fee administration, and subscriptions and redemption; (ii) maintaining the register of shareholders; (iii) anti-money laundering identification; (iv) tax identification under the European Union Tax Savings Directive 2003/48/EC and CRS/FATCA obligations ; (v) providing client-related services; and (vi) marketing.

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The “legitimate interests” referred to above are:

x the processing purposes described in points (v) and (vi) of the above paragraph of this section; x meeting and complying with the Company’s accountability requirements and regulatory obligations globally; and x exercising the business of the partnership in accordance with reasonable market standards.

The Personal Data may also be collected, recorded, stored, adapted, transferred or otherwise processed and used by the Company’s data recipients (the “ Recipients ”) which, in the context of the above mentioned purposes, refer to the Registrar and Transfer Agent, the Management Company, distributors, other companies of Amundi and affiliates, and the Company’s legal advisors and auditors. Such information shall not be passed on any unauthorised third persons.

The Recipients may disclose the Personal Data to their agents and/or delegates (the “ Sub Recipients ”), which shall process the Personal Data for the sole purposes of assisting the Recipients in providing their services to the Data Controller and/or assisting the Recipients in fulfilling their own legal obligations. The relevant Recipient shall remain fully liable to the Company for the performance of the relevant Sub Recipient’s obligations.

The Recipients and Sub-Recipients may be located either inside or outside the European Union (the “ EU ”). Where the Recipients and Sub Recipients are located outside the EU in a country which does not ensure an adequate level of protection to Personal Data and does not beneficiate from an adequacy decision of the European Commission, such transfer should rely on legally binding transfer agreements with the relevant Recipients and/or Sub-Recipient in the form of the EU Commission approved model clauses. In this respect, the investor has a right to request copies of the relevant document for enabling the Personal Data transfer(s) towards such countries by writing to the Data Controller.

The Recipients and Sub-Recipients may, as the case may be, process the Personal Data as data processors (when processing the Personal Data upon instructions of the Data Controller), or as distinct data controllers (when processing the Personal Data for their own purposes, namely fulfilling their own legal obligations). The Personal Data may also be transferred to third parties such as governmental or regulatory agencies, including tax authorities, in accordance with applicable laws and regulations. In particular, Personal Data may be disclosed to the Luxembourg tax authorities which in turn may, acting as data controller, disclose the same to foreign tax authorities.

In accordance with the conditions laid down by the Data Protection Law, the investor acknowledges his/her rights to:

- access his/her Personal Data; - correct his/her Personal Data where it is inaccurate or incomplete; - object to the processing of his/her Personal Data; - restrict the use of his/her Personal Data; - ask for erasure of his/her Personal Data; and - ask for Personal Data portability.

The investor has also the right to object to the use of his/her/its Personal Data for marketing purposes by writing to the Data Controller.

The investor may exercise the above rights by writing to the Data Controller at the following e mail address: www.amundi.com – “Contact Us” . It is stated that the exercise of some rights may result, on a case-by-case basis, in it being impossible for the Company to provide the required services.

The investor also acknowledges the existence of his/her right to lodge a complaint with the Commission Nationale pour la Protection des Données (“CNPD”) in Luxembourg at the following address: 1, avenue du Rock’n’Roll, L 4361 Esch-sur-Alzette, Grand Duchy of Luxembourg, or with any other competent data protection supervisory authority.

INVESTOR RIGHTS

The Management Company draws the investors' attention to the fact that any investor will only be able to fully exercise his investor rights directly against the Company, notably the right to participate in general shareholders' meetings if the investor is registered himself and in his own name in the shareholders' register of the Company. In cases where an investor invests in the Company through an intermediary investing into the Company in its own name but on behalf of the investor, it may not always be possible for the investor to exercise certain shareholder rights directly against the Company, or to be indemnified in case of Net Asset Value calculation errors and/or non-compliance with investment rules and/or other errors at the level of the Company. Investors are advised to take advice on their rights.

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TABLE OF CONTENTS

MULTI UNITS LUXEMBOURG ........................................................................................................... 1 TABLE OF CONTENTS ....................................................................................................................... 5 I/ INVESTMENT OBJECTIVES/ INVESTMENT POWERS AND RESTRICTIONS .................. 10 A. INVESTMENT IN TRANSFERABLE SECURITIES AND LIQUID ASSETS . .................. 12 B. INVESTMENT MADE BY INDEX SUB-FUNDS ............................................................ 15 C. INVESTMENT IN UCITS ............................................................................................... 16 D. INVESTMENT T IN OTHER ASSETS TS .............................................................................. 16 E. PURPOSES OF DERIVA TIVES USE . ............................................................................ 16 F. INVESTMENT TECHNIQUES........................................................................................ 17 II/ NET ASSET VALUE ....................................................................................................................... 23 III/ CHARACTERISTICS OF THE SHARES .................................................................................... 2 27 IV/ INVESTING IN THE COMPANY ON THE PRIMARY MARKET ............................................ 31 V/ SECONDARY MARKET FOR UCITS ETF ................................................................................. 38 VI/ MISCELLANEOUS ........................................................................................................................ 40 APPENDICES .............................................................................................................................. ........ 54 MULTI UNITS LUXEMBOURG – Amundi DAX II ............................................................. 55 MULTI UNITS LUXEMBOURG – Amundi LevDax Daily (2x) leveraged ......................... 58 MULTI UNITS LUXEMBOURG – Amundi Core S&P 500 Swap ...................................... 62 MULTI UNITS LUXEMBOURG – Amundi Australia S&P/ASX 200 ................................. 65 MULTI UNITS LUXEMBOURG – Amundi MSCI World Information Technology ........... 68 MULTI UNITS LUXEMBOURG – Amundi MSCI World Health Care ............................... 71 MULTI UNITS LUXEMBOURG – Amundi MSCI World Financials .................................. 74 MULTI UNITS LUXEMBOURG – Amundi S&P 500 VIX Futures Enhanced Roll ........... 77 MULTI UNITS LUXEMBOURG – Amundi Global Equity Quality Income ....................... 80 MULTI UNITS LUXEMBOURG – Amundi S&P Eu rozone Dividend Aristocrat Screened

.............................................................................................................................. ............ 83 MULTI UNITS LUXEMBOURG – Amundi S&P Europe High Dividend Yield ................. 87 MULTI UNITS LUXEMBOURG – Amundi MSCI Pacific Ex Japan .................................. 90 MULTI UNITS LUXEMBOURG – Amundi USD Fed Funds Rate ..................................... 93 MULTI UNITS LUXEMBOURG – Amundi Pan Africa ...................................................... 96 MULTI UNITS LUXEMBOURG – Amundi Euro Government Bond 5-7Y ....................... 99 MULTI UNITS LUXEMBOURG – Amundi Euro Government Bond 7-10Y ................... 102 MULTI UNITS LUXEMBOURG – Amundi Euro Government Bond 15+Y . Y ..................... 105 MULTI UNITS LUXEMBOURG – Amundi Euro Highest Rated Macro-Weighted Government B ond . .......................................................................................................... 108 MULTI UNITS LUXEMBOURG – Amundi NASDAQ-100 Daily (-1x) Inverse ................ 111 MULTI UNITS LUXEMBOURG – Amundi Euro Inflation Expectations 2-10Y .............. 114 MULTI UNITS LUXEMBOURG – Amundi US Inflation Expectations 10Y .................... 118 MULTI UNITS LUXEMBOURG – Amundi di US Treasury B ond 1-3Y .............................. 122 MULTI UNITS LUXEMBOURG – Amundi di US Treasury B ond 3-7Y .............................. 125 MULTI UNITS LUXEMBOURG – Amundi US Treasury Bond Long Dated. . .................. 128 MULTI UNITS LUXEMBOURG – Amundi Core UK Government Bond ........................ 131 MULTI UNITS LUXEMBOURG – Amundi UK Government Inflation-Linked Bond . d ...... 134

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MULTI UNITS LUXEMBOURG – Amundi di US Treasury B ond 7-10Y. Y............................. 137 MULTI UNITS LUXEMBOURG – Amundi UK Government Bond 0-5Y ........................ 140 MULTI UNITS LUXEMBOURG – Amundi US TIPS ........................................................ 143 MULTI UNITS LUXEMBOURG – Amundi Global Aggregate Green Bond ................... 146 MULTI UNITS LUXEMBOURG – Amundi Core MSCI EMU ........................................... 149 MULTI UNITS LUXEMBOURG – Amundi Euro Government Bond 1-3Y ..................... 152 MULTI UNITS LUXEMBOURG – Amundi Euro Government Bond 3-5Y ..................... 155 MULTI UNITS LUXEMBOURG – Amundi Euro Government Bond 10-15Y.................. 158 MULTI UNITS LUXEMBOURG – Amundi Euro Government Inflation-Linked Bond ... 161 MULTI UNITS LUXEMBOURG – Amundi Core FTSE 100 Swap . ................................... 164 MULTI UNITS LUXEMBOURG – Amundi MSCI World V . V ............................................... 167 MULTI UNITS LUXEMBOURG – Amundi Core MSCI Japan ......................................... 170 MULTI UNITS LUXEMBOURG – Amundi MSCI Emerging Asia II ................................ 173 MULTI UNITS LUXEMBOURG –Amundi i UK Equity All Cap ......................................... 176 MULTI UNITS LUXEMBOURG – Amundi MSCI All Country World .............................. 179 MULTI UNITS LUXEMBOURG – Amundi MSCI All Country World Swap .................... 182 MULTI UNITS LUXEMBOURG – Amundi Core Nasdaq-100 Swap ............................... 185 MULTI UNITS LUXEMBOURG – Amundi Euro Stoxx Banks ....................................... 188 MULTI UNITS LUXEMBOURG – Amundi EUR Corporate Bond Climate Paris Aligned

.............................................................................................................................. .......... 191 MULTI UNITS LUXEMBOURG – Amundi EUR Corporate Bond ex-Financials ESG ... 195 MULTI UNITS LUXEMBOURG – Amundi Bloomberg Equal-weight Commodity ex Agriculture ................................................................................................................... ... 198 MULTI UNITS LUXEMBOURG – Amundi Euro Highest Rated Macro-Weighted Government Bond 1- 3Y ................................................................... .............................. 201 MULTI UNITS LUXEMBOURG – Amundi Euro Highest Rated Macro-Weighted Government Bond 3- 5Y ................................................................... .............................. 204 MULTI UNITS LUXEMBOURG – Amundi MSCI China .................................................. 207 MULTI UNITS LUXEMBOURG – Amundi US Inverse Inflation Expectations 10Y....... 211 MULTI UNITS LUXEMBOURG – Amundi MSCI China ESG Selection Extra ............... 214 MULTI UNITS LUXEMBOURG – Amundi MSCI AC Asia Ex Japan .............................. 218 MULTI UNITS LUXEMBOURG – Amundi MSCI AC Asia Pacific Ex Japan.................. 221 MULTI UNITS LUXEMBOURG – Amundi MSCI Indonesia ........................................... 224 MULTI UNITS LUXEMBOURG – Amundi MSCI Semiconductors ................................ 227 MULTI UNITS LUXEMBOURG – Amundi MSCI Brazil .................................................. 230 MULTI UNITS LUXEMBOURG – Amundi MSCI Eastern Europe Ex Russia ................ 233 MULTI UNITS LUXEMBOURG – Amundi MSCI Korea .................................................. 236 MULTI UNITS LUXEMBOURG – Amundi MSCI Turkey ................................................ 239 MULTI UNITS LUXEMBOURG – Amundi Global Government Inflation-Linked Bond 110Y ........................................................................................................................... ....... 242 MULTI UNITS LUXEMBOURG – Amundi MSCI Europe ESG Selection ....................... 245 MULTI UNITS LUXEMBOURG – Amundi Global Aggregate Proceeds Bond 1-10Y ... 249 MULTI UNITS LUXEMBOURG – Amundi MSCI Emerging Ex China............................ 252 MULTI UNITS LUXEMBOURG – Amundi MSCI Emerging Ex China Swap ................. 255 MULTI UNITS LUXEMBOURG – Amundi Global Government Bond ........................... 258

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MULTI UNITS LUXEMBOURG – Amundi US Curve steepening 2-10Y ........................ 261 MULTI UNITS LUXEMBOURG – Amundi S&P Eurozone Climate Paris Aligned ........ 266 MULTI UNITS LUXEMBOURG – Amundi Euro Government Green Bond ................... 270 MULTI UNITS LUXEMBOURG – Amundi Corporate Proceeds Bond .......................... 273 MULTI UNITS LUXEMBOURG – Amundi Core MSCI Emerging Markets Swap .......... 276 MULTI UNITS LUXEMBOURG – Amundi MSCI Europe Action .................................... 279 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Basic Resources ........ 282 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Banks .......................... 285 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Consumer Discretionary

.............................................................................................................................. .......... 288 MULTI UNITS LUXEMBOURG – Amundi STO TOXX Europe 600 In Industrials ................... 291 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Insurance .................... 294 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Healthcare ................... 297 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Telecommunications .. 300 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Utilities ........................ 303 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Energy Screened ........ 306 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Consumer Staples ...... 309 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Basic Materials ........... 312 MULTI UNITS LUXEMBOURG – Amundi STOXX Europe 600 Technology ................. 315 MULTI UNITS LUXEMBOURG – Amundi MSCI EMU Value Factor .............................. 318 MULTI UNITS LUXEMBOURG – Amundi Global Gender Equality ............................... 321 MULTI UNITS LUXEMBOURG – Amundi MSCI Digital Economy ................................ 324 MULTI UNITS LUXEMBOURG – Amundi Global Memory Chips ................................. 327 MULTI UNITS LUXEMBOURG – Amundi MSCI Smart Mobility . y .................................... 330 MULTI UNITS LUXEMBOURG – Amundi MSCI Millennials .......................................... 333 MULTI UNITS LUXEMBOURG – Amundi Global Sport and eSport ............................. 336 MULTI UNITS LUXEMBOURG – Amundi Smart Overnight Return .............................. 339 MULTI UNITS LUXEMBOURG – Amundi MSCI World Catholic Principles ................. 343 MULTI UNITS LUXEMBOURG – Amundi Core EUR High Yield Bond ......................... 346 MULTI UNITS LUXEMBOURG – Amundi S&P 500 Equal Weight ................................ 349 MULTI UNITS LUXEMBOURG – Amundi S&P 400 US Mid Cap ................................... 352 MULTI UNITS LUXEMBOURG – Amundi USD Corporate Bond Long Dated .............. 355 MULTI UNITS LUXEMBOURG – Amundi European Strategic Autonomy ................... 358 MULTI UNITS LUXEMBOURG – Amundi EUR Credit Spread Widening ..................... 361 APPENDIX A – SUB-FUNDS CLASSIFIED ARTICLE 8 AND ARTICLE 9 PURSUANT TO DISCLOSURE REGULATION ........................................................................................................ 364 APPENDIX B - SPECIAL RISK CONSIDERATIONS AND RISK FACTORS ........................ 365 APPENDIX C– SECURITIES FINANCING TRANSACTIONS AND TOTAL RETURN SWAPS .............................................................................................................................. ................. 377 APPENDIX D – BENCHMARK REGULATION ............................................................................ 381 APPENDIX E – SPECIFIC INVESTMENT RATIO ....................................................................... 386 APPENDIX F - GLOSSARY OF TERMS ...................................................................................... 389 APPENDIX G - ESG RELATED DISCLOSURES TO THIS PROSPECTUS .......................... 394

ADDITIONAL INFORMATION FOR INVESTORS IN THE UNITED KINGDOM .. . ....... . .......... 5 59 2

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Directory Registered Office 9, rue de Bitbourg, L-1273 Luxembourg

Promoter Amundi Asset Management 91-93, boulevard Pasteur 75015 Paris, Franc e

B oard of Directors of the Company

Chairman Lucien CAYTAN Independent director

Directors Mehdi BALAFREJ 91-93, boulevard Pasteur 75015 Paris, France

Grégory BERTHIER 91-93, boulevard Pasteur 75015 Paris, France

Pierre JOND 5, allée Scheffer, L-2520 Luxembourg, Grand Duchy of Luxembourg

Management Company (also referred to hereafter as the “Manager”) Amundi Luxembourg S.A. 5, allée Scheffer L-2520 Luxembour g

Invest ment Managers Amundi Asset Management S.A.S. 91-93, boulevard Pasteur 75015 Paris, France

Amundi Japan Ltd Hibiya Dai Building, 1-2-2, Uchisaiwai-cho, Chiyoda-ku TOKYO #100-0011, Japan

A dm dministration Depositary and Paying Agent Société Générale Luxembourg S.A. 11, avenue Emile Reuter L-2420 Luxembourg, Grand Duchy of Luxembourg

Administrative Agent Société Générale Luxembourg S.A. Operational center: 28-32, Place de la Gare L-1616 Luxembourg, Grand Duchy of Luxembourg

Corporate and Domiciliary Agent Arendt Services S.A. 9, rue de Bitbourg, L-1273 Luxembourg, Grand Duchy of Luxembourg

Registrar and Transfer Agent Société Générale Luxembourg S.A. 28-32, Place de la Gare L-1616 Luxembourg, Grand Duchy of Luxembourg

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Auditor PricewaterhouseCoopers Assurance, Société coopérative 2, rue Gerhard Mercator L-2182 Luxembourg, Grand Duchy of Luxembourg

Legal advisor Arendt & Medernach S.A. 41A, avenue JF Kennedy L-2082 Luxembourg, Grand Duchy of Luxembourg

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I/ Investment Objectives/ Investment Powers and Restrictions

INVESTMENT OBJECTIVES

The Company aims to provide investors with professionally managed Sub-Funds investing in a wide range of transferable securities and money market instruments in accordance with Part I of the law of 17 December 2010 on undertakings for collective investment (the “ 2010 Law ”) in order to achieve an optimum return from capital invested while reducing investment risk through diversification.

In addition, the Company aims to provide investors with professionally managed index Sub-Funds whose objective is to replicate the composition of a certain financial index recognised by the Luxembourg supervisory authority, unless otherwise mentioned in the relevant Appendix.

The investment policy and objective of each Sub Fund will be determined in its concerned Appendix annexed to the present Prospectus.

If stated in the relevant Sub-Fund Appendix, a Sub-Fund may not hold:

(i) securities of companies involved in the production or sale of the controversial weapons as further described in Amundi’s Global Responsible Investment Policy; and/or

(ii) securities of companies in breach of international conventions on Human or Labor Rights or that violate, repeatedly and seriously, one or more of the ten principles of the Global Compact*, in securities of companies involved in Tobacco production or distribution, or of companies with significant exposure to Thermal coal or of companies with significant exposure to nuclear weapons or unconventional oil & gas. The exclusion of these securities is based on Amundi's methodology.

*United Nations Global Compact (UN Global Compact): "A call to companies to align strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and take actions that advance societal goals."

The exclusion of these securities is based on Amundi's methodology as described in Section "Minimum Standards and Exclusion Policy” of the

Amundi’s Global Responsible Investment Policy".

A Sub-Fund may carry out its investment objective via an Indirect Replication and/or a Direct Replication as described in the following paragraphs:

- a Sub-Fund with an Indirect Replication may not necessarily invest directly in the constituents of the financial index as set out in its considered Appendix annexed to the present Prospectus.

The exposure to the performance of the considered financial index will be achieved by way of derivative transactions and/or instruments (the “ Indirect Replication ”).

a) If the Sub-Fund uses unfunded Indirect Replication technique for whole or part of its assets, it will (i) invest in a basket of transferable securities and liquid assets as further described in section A below (the “ Investment Portfolio ”) and (ii) enter into one or several OTC swap transactions whose overall purpose of which is to reach its investment objective, exchanging the value of its Investment Portfolio against the value of a basket of transferable securities or other eligible assets corresponding to its investment objective. Such an OTC swap transaction is designated as the “ Unfunded Swap ”.

b) If the Sub-Fund uses funded Indirect Replication technique for whole or part of its assets, it will enter into an OTC swap transaction the purpose of which is to reach its investment objective, exchanging the invested proceeds against the value of a basket of transferable securities or other eligible assets corresponding to its investment objective. Such an OTC swap transaction is designated as a “ Funded Swap ”. A Sub-Fund investing in a Funded Swap is subject to dedicated Risk Management Process and Collateral Policy set forth in the present Prospectus.

A Sub-Fund with Indirect Replication may use both Funded Swap-based portfolio and Unfunded Swap-based portfolio at the same time, without prejudice to the particular conditions set out in its considered Appendix annexed to the present Prospectus.

Provided that a Sub-Fund may carry out its investment objective through an Unfunded Swap, the basket of securities held by such Sub-Fund in its investment portfolio will be selected on the basis of the following eligibility criteria, in particular:

When the Sub-Fund invests in equities:

- their inclusion in a major stock exchange index;

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- liquidity (must exceed a minimum daily trading volume and market capitalization); - credit rating of the country where the issuer has its registered office (must have a least a minimum S&P or equivalent rating); - diversification criteria, in particular regarding: x the issuer (application of investment ratios to assets that qualify for UCITS, pursuant to the 2010 Law); x the geography; x the sector.

When the Sub-Fund invests in bonds:

The considered Sub-Fund will invest mainly in bonds issued by a given OECD-member country or by a private-sector issuer, and denominated in one of the OECD country currencies.

These securities will be bonds selected on the basis of the following criteria:

- eligibility criteria and in particular: x senior debt; x fixed maturity; x maximum residual maturity; x minimum issuance volume; x minimum S&P or equivalent credit rating.

- diversification criteria, including: x the issuer (application of investment ratios to assets that qualify for UCITS, pursuant to the 2010 Law); x the geography; x the sector.

The basket of transferable securities held by the Sub-Fund may be adjusted daily such that its value will generally be at least 100% of the Sub Fund's net assets. When necessary, this adjustment will be made to ensure that the market value of the OTC swap contract mentioned above is less than or equal to zero, which will neutralize the counterparty risk arising from the OTC swap. Investors may find more information on the above eligibility and diversification criteria, and in particular the list of eligible indices, on Amundi's website at www.amundietf.com.

Information on the updated composition of the basket of assets held in the Sub-Fund and the counterparty risk resulting from the OTC swap is available on the page dedicated to the Sub-Fund on Amundi's website at www.amundietf.com.

The frequency of any updates and/or the date on which the information above is updated is also set out on the same page of the above-mentioned website.

The counterparty to the OTC swap is a first class financial institution that specialises in that type of transaction. Such counterparty will not assume any discretion over the composition of the Sub Fund’s portfolio or over the underlying of the financial derivatives instruments.

Unless otherwise mentioned in the Sub-Fund’s appendix, the using of the OTC swap will not involve leverage. The net asset value of the Sub-Fund will increase (or decrease) according to the valuation of the OTC swap.

Adjustments of the OTC swap contract’s nominal in the event of eventual subscriptions and redemptions will be performed based on the "mark to market" valuation method.

The valuation of the OTC swap agreements will be provided by the counterparty, but the Management Company will make its own independent valuation thereof.

The valuation of the OTC swap agreements will be checked by the auditor of the Company during their annual audit mission.

Despite all measures taken by the Company to reach its objectives, these measures are subject to independent risk factors, including but not limited to, changes in the fiscal or commercial regulations. No guarantee whatsoever may be offered to the investor in this regard.

- a Sub-Fund with a Direct Replication may carry out its investment objective by investing in a portfolio of transferable securities or other eligible assets that will typically comprise the constituents composing the financial index as set out in its considered Appendix annexed to the present Prospectus and in doing so will apply the investment limits as set out in the above section “Investment Objectives / Investment Powers and Restrictions”.

In order to optimize such Direct Replication method and to reduce the costs of investing directly in all constituents of the financial index, a Sub-Fund may decide to use a “sampling” technique that consists in investing in a selection of representative constituent of financial index as set out in its considered Appendix annexed to the present Prospectus.

According to this sampling technique, a Sub Fund may invest in a selection of transferable securities representative of the financial index as set out in its considered Appendix annexed to the present Prospectus in proportions that do not reflect their weight within the financial index as set out in its considered Appendix annexed to the present Prospectus, and as the case may be invest in securities that are not constituents of the financial index.

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In addition, and to a limited extent, a Sub-Fund in Direct Replication may also engage in transactions such as, structured notes, financial derivative instruments (“FDI”) mainly for achieving the objectives under (i) and (ii) below, including futures transactions OTC swaps, hedging swap, forward contracts, non-deliverable forwards, spot foreign exchange transactions, to:

i. reduce the level of tracking errors or ii. optimise its cash management or iii. reduce transaction costs or allowing exposure in the case of illiquid securities or securities which are unavailable for market or regulatory reasons (in particular in the case of emerging market country exposure) or iv. assist in achieving its investment objective and for reasons such as generating efficiencies in gaining exposure to the constituents of the financial index or to the financial index itself or v. for such other reasons as the Directors deem of benefit to the Sub-Fund.

In circumstances where a Sub-Fund would contract a FDI, the counterparty to that specific FDI would be a first class financial institution that specialises in that type of transaction. Such counterparty will not assume any discretion over the composition of the Sub-Fund’s portfolio or over the underlying of the financial derivatives instruments.

To ensure transparency on the use of the Direct Replication method (i.e. either full replication of the financial index or sampling to limit replication costs) and on its consequences in terms of the assets in the Sub-Fund’s portfolio, information on the updated composition of the basket of assets held by the Sub-Fund is available on the page dedicated to the Sub-Fund accessible on Amundi’s website at www.amundietf.com, except otherwise mentioned in the Sub-Fund’s Appendix. The frequency of any updates and/or the date on which the aforementioned information is updated is also indicated on the same page of the aforementioned website.

INVESTMENT POWERS AND RESTRICTIONS

In order to achieve the Company’s investment objectives and policies, the Board of Directors has determined that the following investment powers and restrictions shall apply to all investments by the Company:

A. INVESTMENT IN TRANSFERABLE SECURITIES AND LIQUID ASSETS

1) In order to achieve the Company’s investment objectives and policies, the Directors have determined that the following investment powers

and restrictions shall apply to all investments made by certain Sub-Funds of the Company: The Company, in certain Sub-Funds, may solely invest in a) transferable securities and money market instruments admitted to or dealt in on a regulated market within the meaning of item 1.4 of article 4 of Directive 2004/39/EC; b) transferable securities and money market instruments dealt in on another regulated market that operates regularly and is recognised and is open to the public (a " Regulated Market ") in a member state as defined in the 2010 Law (the “Member State”); c) transferable securities and money market instruments admitted to official listing on a stock exchange or dealt in on another Regulated Market located within any other country in Europe, Asia, Oceania, the Americas and Africa;

d) recently issued transferable securities and money market instruments provided that:

i) the terms of issue provide that application be made for admission to official listing in any of the stock exchanges or Regulated Markets referred to above; ii) such admission is secured within one year of the issue. e) units or shares of UCITS authorised according to Directive 2009/65/EC, should they be situated in a Member State or not, provided that the UCITS in which each Sub-Fund of the Company intends to invest, may not, according to its constitutive documents, invest more than 10% of its net assets in aggregate, in units/shares of other UCITS or other UCIs. The diversification limits relating to the investment in units or shares of UCITS described in this sub-paragraph are set out in the appendix of each Sub-Fund. f) deposits with credit institutions which are repayable on demand or have the right to be withdrawn, and maturing in no more than 12 (twelve) months, provided that the credit institution has its registered office in a Member State or, if the registered office of the credit institution is situated in OECD country being FATF member, provided that it is subject to prudential rules considered by the Luxembourg Supervisory Authority as equivalent to those laid down in European Union law; g) financial derivative instruments including cash settlement instruments, dealt in on a Regulated Market referred to in sub-paragraphs a), b), c) and/or

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financial derivative instruments dealt in over-the-counter ("OTC Derivatives") provided that: i) the underlying consists of instruments covered by the paragraph 1) above (points a to f), financial indices, interest rates, foreign exchanges rates or currencies in which each of the Sub-Funds may invest according to their investment objective; ii) the counterparties to OTC derivative transactions are institutions subject to prudential supervision, and belonging to the categories approved by the Luxembourg Supervisory Authority; and iii) the OTC derivatives are subject to reliable and verifiable valuation on a daily basis and can be sold, liquidated or closed by an offsetting transaction at any time at their fair value at the Company’s initiative. h) money market instruments other than those dealt in on a Regulated Market and referred to in Article 1 of the 2010 Law, if the issue or the issuer of such instruments is itself regulated for the purpose of protecting investors and savings, and provided that they are: i) issued or guaranteed by a central, regional, or local authority, a central bank of a Member State, the European Central Bank, the European Union or the European Investment Bank, a non Member State or, in the case of a Federal State, by one of the members making up the federation, or by a public international body to which one or more Member States belong; or

ii) issued by an undertaking whose securities are dealt in on Regulated Markets referred to in sub paragraphs a), b) or c); or iii) issued or guaranteed by an establishment subject to prudential supervision, in accordance with the criteria defined by the European Union law or by an establishment which is subject to and comply with prudential rules considered by the Luxembourg Supervisory Authority to be at least equivalent to those laid down by European Union law; or iv) issued by other bodies belonging to the categories approved by the Luxembourg Supervisory Authority provided that investments in such instruments are subject to investor protection equivalent to that laid

down in the first, the second and the third indent above and provided that the issuer is a company whose capital and reserves amount at least to ten million Euro (EUR 10,000,000.-) and which presents and publishes its annual accounts in accordance with Directive 2013/34/EU, is an entity which, within a group of companies which includes one or several listed companies, is dedicated to the financing of the group or is an entity which is dedicated to the financing of securitisation vehicles which benefit from a banking liquidity line.

2) In addition, each Sub-Fund of the Company may invest a maximum of 10% of its net assets in transferable securities and money market instruments other than those referred to in paragraph (1).

3) Except for situations of exceptionally unfavourable market conditions where a temporary breach of the 20% limit is required by the circumstances and justified having regard to the interest of the investors, each Sub-Fund may hold up to 20% of its net assets in bank deposits at sight that are accessible at any time, in order to cover current or exceptional payments or for the time necessary to reinvest in eligible assets or for a period of time strictly necessary in case of unfavourable market conditions.

4) a) each Sub-Fund may not invest more than 10% of its net assets in transferable securities or money market instruments issued by the same issuer.

Each Sub-Fund may not invest more than 20% of its net assets in deposits made with the same issuer. The risk exposure to a counterparty of each Sub-Fund in an OTC derivative transaction may not exceed 10% of its net assets when the counterparty is a credit institution referred to in (1) f) above or 5% of its net assets in other cases.

b) in addition to the limit set forth in point a) above, the total value of transferable securities and money market instruments amounting more than 5% of the net assets of one Sub-Fund, must not exceed 40% of the net assets of this Sub-Fund. This limitation does not apply to deposit and OTC derivative transactions made with financial institutions subject to prudential supervision. c) Notwithstanding the individual limits laid down in paragraph a), b) above, each Sub-Fund may not combine:

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investments in transferable securities or money market instruments issued by, and i) deposits made with, ii) exposures arising from OTC derivatives transactions undertaken with a single issuer for more than 20% of the Sub-Fund’s net assets. d) the limit of 10% in sub-paragraph 4 a) above may be increased to a maximum of 35% in respect of transferable securities and money market instruments which are issued or guaranteed by a Member State or its local authorities, by an OECD country being FATF member or by public international bodies of which one or more Member States are members, and such securities and money market instruments need not be included in the calculation of the limit of 40% stated in sub-paragraph 4) b). e) the limit of 10% in sub-paragraph 4 a) above may be increased to a maximum of 25% for bonds that fall under the definition of covered bonds in point (1) of Article 3 of Directive (EU) 2019/2162 of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and covered bond public supervision and in respect of qualifying debt securities issued before 8 July 2022 by a credit institution whose registered office is situated in a Member State and which is subject, by virtue of law, to particular public supervision in order to protect the holders of such qualifying debt securities. For purposes hereof, "qualifying debt securities" are securities the proceeds of which are invested in accordance with applicable law in assets providing a return which will cover the debt service through the maturity date of the securities and which will be applied on a priority basis to the payment of principal and interest in the event of a default by the issuer. To the extent that a relevant Sub-Fund invests more than 5% of its net assets in debt securities issued by such an issuer, the total value of such investments may not exceed 80% of the net assets of such Sub-Fund. Such securities need not be included in the calculation of the limit of 40% stated in sub-paragraph 4 b). The ceilings set forth in paragraph 4 above may not be aggregated, and accordingly, investments in the securities of any one issuer, effected in compliance with the provisions set forth in paragraph 4, may under no circumstances exceed 35% of any Sub Fund’s net assets.

f) companies which are included in the same group for the purposes of consolidated accounts (as defined in accordance with Directive 2013/34/EU) or in accordance with recognised international accounting rules are considered as a single body or issuer for the purpose of calculating the limits contained in this section. Each Sub-Fund may invest in aggregate up to 20% of its net assets in transferable securities and money market instruments with the same group. 5) Notwithstanding the ceilings set forth above, each Sub-Fund is authorised to invest in accordance with the principle of risk spreading, up to 100% of its net assets in transferable securities and money market instruments issued or guaranteed by (i) a Member State of the European Union, its local authorities, or a public international body of which one or more Member State(s) of the European Union are member(s), (ii) any member state of the OECD or any member country of the G-20, or (iii) Singapore or Hong Kong, provided that: a) such securities are part of at least six different issues; and b) the securities from any one issue do not account for more than 30% of the net assets of such Sub-Fund. Such authorisation will be granted should the shareholders have a protection equivalent to that of shareholders in UCITS complying with the limits laid down in 4) above. 6) The Company may: a) not acquire more than 10% of the debt securities of any single issuing body; b) not acquire more than 10% of the non voting shares of any single issuing body; c) not acquire more than 10% of the money market instruments of any single issuing body; d) not acquire more than 25% of the units of any single collective investment undertaking. These four above limits apply to the Company as a whole. The limits under a), c) and d) above may be disregarded at the time of acquisition if at that time the gross amount of the bonds or of the money market instruments or the net amount of the instruments in issue cannot be calculated. The Company may not acquire any shares carrying voting rights which would enable the Company to take legal or management control or to exercise significant influence over the management of the issuing body.

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7) The ceilings set forth under 6) above do not apply in respect of

a) transferable securities and money market instruments issued or guaranteed by a Member State or by its local authorities;

b) transferable securities and money market instruments issued or guaranteed by any other State which is not a Member State;

c) transferable securities and money market instruments issued by a public international body of which one or more Member State(s) is/are member(s);

d) shares in the capital of a company which is incorporated under or organised pursuant to the laws of a State which is not a Member State provided that (i) such company invests its assets principally in securities issued by issuers of the State, (ii) pursuant to the law of that State a participation by the relevant Sub-Fund in the equity of such vehicle constitutes the only possible way to purchase securities of issuers of that State, and (iii) such vehicle observes in its investments policy the restrictions set forth in paragraph 4) and 5) above as well as in C . hereafter;

e) shares held by the Company in the capital of subsidiaries carrying on exclusively the business of management, advice or marketing of the Company in the country/state where the subsidiary is located, regarding the repurchase of units/shares requested by the unit holders/shareholders. The investment restrictions listed above and in C . hereafter apply at the time of purchase of the relevant investments. If these limits are exceeded with respect to a Sub-Fund for reasons beyond the control of the Sub-Fund or when exercising subscription rights, the Sub-Fund shall adopt as a priority objective for the sales transactions of the relevant Sub-Fund the remedying of that situation, taking due account of the interests of the shareholders. While ensuring observance of the principle of risk-spreading, the Company may derogate from limitations 4) to 7) above and in C. hereafter for a period of six months following the date of its inscription to the Luxembourg official list of UCI’s.

8) The Company shall ensure that the global exposure relating to the use of derivative instruments in one Sub-Fund does not exceed its total asset value. The risk exposure is calculated taking into account the current value of the underlying assets, the counterparty risk, future market

movements and the time available to liquidate the positions.

If a Sub-Fund invests in financial derivative instruments, the exposure to the underlying assets may not exceed in aggregate the investment limits laid down in paragraph A. 4) above. When the Sub-Fund invests in index based financial derivative instruments, these investments do not have to be combined to the limits laid down in paragraph A. 4).

When a transferable security or money market instrument embeds a derivative, the latter must be taken into account when complying with the above requirements.

B. INVESTMENT MADE BY INDEX SUB FUNDS

The aim of the index Sub-Funds investment policy is to replicate the composition of a certain financial index which is recognised by the CSSF, on the following basis:

a) the composition of the index is sufficiently diversified;

b) the index represents an adequate benchmark for the market to which it refers; c) it is published in an appropriate manner. Owing to the specific investment policy of the index Sub-Funds and without prejudice to the limits laid down in paragraph A. 6) and 7), the limits laid down in paragraph A. 4) are raised to a maximum of 20% for investments in shares and/or bonds issued by the same body. The aforesaid limit is raised to 35% where that proves to be justified by exceptional market conditions in particular in regulated markets where certain transferable securities or money market instruments are highly dominant as further described in the Appendices (where applicable). The investment up to this limit is only permitted for a single issuer. Licence The use of any financial index by a given Sub Fund is covered by contractual licensing arrangements (the " Licence "). There is no guarantee that the Licence will be extended beyond its initial term or that the Licence will not be terminated. Index Substitution In the event that the Licence is not extended or is terminated, the Management Company may seek in agreement with the Board of Directors to replace the financial index by another suitable index though there is no certainty that one will be available. There is no guarantee that the methodology of any financial index described in the relevant Appendix of a Sub-Fund will not be changed by the administrator of the financial index. In the event it is materially modified, the Management

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Company in agreement with the Board of Directors may decide in its discretion to replace the index by a suitable index if one is then available. Shareholders will be promptly informed in the event that the Licence is terminated, and/or the index is substituted. C. INVESTMENT IN UCITS Certain Sub-Funds may acquire units of UCITS referred to in paragraph A. 1) e) above, provided that no more than 10% of a Sub-Fund’s net assets be invested in the units. No Sub-Fund may acquire shares or units of any UCIs. When the Sub-Funds of the Company invest in the units of other UCITS directly or indirectly managed by the Management Company or by a company linked to the Management Company by common management or control, or by a direct or indirect holding which exceeds 10% of the capital or management rights no fees may be charged to the Company on account of its investment in the units of such other UCITS. Moreover, no subscription or redemption fees may be charged to the Company on account of its investment in the units of linked underlying UCITS. The Company may acquire no more than 25% of the units of the same UCITS. This limit may be disregarded at the time of acquisition if at that time the gross amount of the units in issue cannot be calculated. In case of a UCITS with multiple sub-funds, this restriction is applicable by reference to all units issued by the UCITS concerned, all sub-funds combined. The underlying investments held by the UCITS in which the Company invests do not have to be considered for the purpose of the investment restrictions set forth under A above. D. INVESTMENT IN OTHER ASSETS a) The Company will not make investments in precious metals or certificates representing them; b) The Company may not enter into transactions involving commodities or commodity contracts, except that the Company may employ techniques and instruments set out in paragraph F. Below subject to the conditions defined in the applicable regulations. For the avoidance of doubt, OTC total return swaps in relation to eligible Commodities financial indices are permitted; c) The Company will not purchase or sell real estate or any option, right or interest therein, provided the Company may invest in securities secured by real estate or interests therein or issued by companies which invest in real estate or interests therein. However, the Company may acquire movable and immovable property which is essential for the direct pursuit of its activity; d) The Company may not carry out uncovered sales of transferable securities,

money market instruments or other financial instruments referred to above; e) The Company may not borrow for the account of any Sub-Fund, other than amounts which do not in aggregate exceed 10% of the net asset value of the Sub-Fund, and then only as a temporary measure. For the purpose of this restriction, back to back loans are not considered to be borrowings; f) The Company will not grant loans or act as guarantor on behalf of third parties. This limitation will not prevent the Company from acquiring transferable securities, money market instruments or other financial instruments referred to 1) above; g) The Company will not mortgage, pledge, hypothecate or otherwise encumber as security for indebtedness any securities held for the account of any Sub-Fund, except as may be necessary in connection with the borrowings mentioned in e) above, and then such mortgaging, pledging, or hypothecating may not exceed 10% of the Net Asset Value of each Sub Fund. In connection with swap transactions, option and forward exchange transactions or futures transactions the deposit of securities or other assets in a separate account shall not be considered a mortgage, pledge or hypothecation for this purpose; h) The Company will not underwrite or sub underwrite securities of other issuers. In accordance with the above Investment Restrictions, each Sub-Fund may employ techniques and instruments relating to transferable securities and money market instruments providing that these techniques and instruments are used for the purpose of efficient portfolio management. A Sub-Fund may also employ techniques and instruments intended to provide protection against foreign exchange risks in the context of the management of the assets and liabilities of the Sub-Fund (see below). The Board of Directors may impose other investment restrictions at any time in the interest of the shareholders whenever necessary to comply with the laws and requirements of those countries where the Company Shares are offered.

E. PURPOSES OF DERIVATIVES USE Consistent with its investment policy, a Sub-Fund may use derivatives for hedging against various types of risk, for efficient portfolio management or to gain exposure to certain investments or markets. Currency hedging A Sub-Fund may engage in currency hedging at a Class level for hedged share classes, to seek to hedge against currency fluct uations between the currency of a Class and the currency or currencies in which the investments of the Sub-Fund are denominated. In specific cases (H1 Share Classes), the Sub-Fund may engage in currency hedging at share class

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level for hedged share classes, to seek to hedge against the currency fluctuation between the share class currency and the Reference Currency of the relevant Sub-Fund. While not intended, this could result in over hedged or underhedged positions due to external factors outside the control of the Sub-Fund. The Company in respect of the relevant Sub Fund, shall ensure that under-hedged positions do not fall short of 95% of the proportion of the Net Asset Value of a Class which is to be hedged and keep any under-hedged positions under review to ensure it is not carried forward from month to month. Overhedged positions will not exceed 105% of the Net Asset Value of the hedged share class and hedged positions will be kept under review to ensure that positions materially in excess of 100% of the Net Asset Value will not be carried forward from month to month. In the event that there is a loss on the foreign currency hedge of the relevant hedged share class prior to an adjustment or reset, the relevant hedged share class will have an exposure to securities which will exceed its Net Asset Value as its Net Asset Value comprises both the value of its underlying securities plus the unrealised loss on its foreign currency hedge. Conversely, in the event that there is a gain on the foreign currency hedge of the relevant hedged share class prior to an adjustment or reset, the relevant hedged share class will have a lower exposure to securities than its Net Asset Value as, in this case, its Net Asset Value will include an unrealised gain on the foreign currency hedge. Any costs related to such hedging shall be borne separately by the relevant hedged share classes. All gains/losses which may be made by any hedged share classes of a Sub-Fund as a result of such hedging transactions shall accrue to the relevant hedged share class. Hedging transactions shall be clearly attributable to the relevant hedged share classes.

F. INVESTMENT TECHNIQUES

1) Techniques and Instruments relating to transferable securities and money market instruments Subject to the conditions under A. 1) g) above and any limitations set out in their respective investment policies, the Sub-Funds may use the following techniques and instruments for the purpose of efficient portfolio management. For the purpose of efficient portfolio management, the Sub-Fund may undertake transactions relating to financial futures, warrants and options contracts traded on a Regulated Market. Alternatively, the Sub-Fund may undertake transactions relating to options, swaps (including total return swaps) entered into by private agreement (OTC) with highly rated financial institutions specialising in this type of transaction and participating actively in the

relevant OTC market. Such OTC financial derivative instruments shall be safekept by the Depositary. 1. Options on transferable securities/ money market instruments The Sub-Fund may buy and sell put and call options on transferable securities and money market instruments. At the conclusion as well as during the existence of contracts for the sale of call options on securities, the Sub-Fund will hold either the underlying securities, matching call options, or other instruments (such as warrants) that provide sufficient coverage of the commitments resulting from these transactions. The underlying securities related to call options written may not be disposed of as long as these options are outstanding unless such options are covered by matching options or by other instruments that can be used for that purpose. The same applies to equivalent call options or other instruments which the Sub-Fund must hold where it does not have the underlying securities at the time of the writing of such options. A Sub-Fund may not write uncovered call options on transferable securities and money market instruments. As a derogation from this rule, a Sub-Fund may write call options on securities that it does not hold at inception of the transaction, if the aggregate exercise price of such uncovered call options written does not exceed 25% of the net asset value of the Sub Fund and the Sub-Fund is, at any time, in a position to cover the open position resulting from such transactions. Where a put option is sold, the Sub-Fund’s corresponding portfolio must be covered for the full duration of the contract by adequate liquid assets that would meet the exercise value of the contract, should the option be exercised by the counterparty. 2. Hedging through Stock Market Index Futures, Warrants and Options As a global hedge against the risk of unfavourable stock market movements, a Sub Fund may sell futures contracts on stock market indices, and may also sell call options, buy put options or transact in warrants on stock market indices, provided there is sufficient correlation between the composition of the index used and the Sub-Fund’s corresponding portfolio. The total commitment resulting from such futures, warrants and option contracts on stock market indices may not exceed the global valuation of securities held by the relevant Sub-Fund’s corresponding portfolio in the market corresponding to each index.

3. Hedging through Interest Rate Futures, Options, Warrants, Swaps (including total return swaps)

As a global hedge against interest rate fluctuations, a Sub-Fund may sell interest rate

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futures contracts and may also sell call options, buy put options or transact in warrants on interest rates or enter into OTC interest rates swaps or swaptions with highly rated financial institutions specialising in this type of instruments.

The total commitment resulting from such futures, option, warrants and swaps contracts (including total return swaps) and swaptions on interest rates may not exceed the total market value of the assets to be hedged held by the Sub Fund in the currency corresponding to these contracts.

4. Futures, Warrants and Options on Other Financial Instruments for a Purpose other than hedging

As a measure towards achieving a fully invested portfolio and retaining sufficient liquidity, a Sub Fund may buy or sell futures, warrants and options contracts on financial instruments (other than the transferable securities or currency contracts), such as instruments based on stock market indices and interest rates, provided that these are in line with the stated investment objective and policy of the corresponding Sub Fund and that the total commitment arising from these transactions together with the total commitment arising from the sale of call and put options on transferable securities at no time exceeds the net asset value of the relevant Sub Fund. With regard to the "total commitment" referred to in the preceding paragraph, the call options written by the Sub-Fund on transferable securities for which it has adequate cover do not enter into the calculation of the total commitment. The commitment relating to transactions other than options on transferable securities shall be defined as follows: - the commitment arising from futures contracts is deemed equal to the value of the underlying net positions payable on those contracts which relate to identical financial instruments (after setting off all sale positions against purchase positions), without taking into account the respective maturity dates; and - the commitment deriving from options purchased and written as well as warrants purchased and sold is equal to the aggregate of the exercise (striking) prices of net uncovered sales positions which relate to single underlying assets without taking into account respective maturity dates. The aggregate acquisition prices (in terms of premium paid) of all options on transferable securities purchased by the Sub-Fund together with options acquired for purposes other than hedging (see above) may not exceed 15% of the net assets of the relevant Sub-Fund. 5. OTC total return swaps In order to achieve the investment objective of the Sub-Funds replicating financial indices via an Indirect Replication methodology, the Company

may, on behalf of the Sub-Funds, enter into total return swaps (“TRS”) entered into by private agreement (OTC) with regulated financial institutions which have their registered office in one of the OECD countries, and which are specialised in such types of transactions, have a minimum credit rating of investment grade quality and are subject to prudential supervision (such as credit institutions or investment firms). The identity of the counterparties will be disclosed in the annual report. Each Sub-Fund may incur costs and fees in connection with TRS upon entering into TRS and/or any increase or decrease of their notional amount. The amount of these fees may be fixed or variable. Information on costs and fees incurred by each Fund in this respect, as well as the identity of the recipients and any affiliation they may have with the Depositary, the investment adviser or the Management Company, if applicable, may be available in the annual report. All revenues arising from TRS, net of direct and indirect operational costs and fees, will be returned to the relevant Sub-Fund. A Sub-Fund is exposed to the risk of bankruptcy, settlement default or any other type of default by the counterparty of the OTC total return swaps. In line with UCITS guidelines, the counterparty risk (whether the counterparty is Société Générale or another third party), cannot exceed 10% of the considered Sub-Fund’s total assets, by counterparty. Any counterparty to an OTC derivative instrument entered into by any Sub-Fund will be selected according to the Management Company best execution policies and procedures. A copy of the Management Company best execution policy (including the relevant execution matrix by asset class) is mentioned at the following address: https://www.amundi.com section legal documentation. TRS entered into by a Sub-Fund may be in the form of Funded Swaps and/or Unfunded Swaps. The use by any Sub-Fund of TRS will be specified in the table “Securities financing transactions and total return swaps” of the Prospectus, within the meaning of, and under the conditions set out in, applicable laws, regulations and CSSF circulars issued from time to time, in particular, but not limited to regulation (EU) 2015/2365. 6 . Efficient portfolio management techniques The Company may employ techniques and instruments relating to transferable securities and money market instruments provided that such techniques and instruments are used for the purposes of efficient portfolio management within the meaning of, and under the conditions set out in, applicable laws, regulations and circulars issued by the CSSF from time to time. In particular, those techniques and instruments should not result in a change of the declared investment objective of the Sub-Fund or add

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substantial supplementary risks in comparison to the stated risk profile of the Sub-Fund. Such securities or instruments will be safekept with the Depositary.

The risk exposure to a counterparty generated through efficient portfolio management techniques and OTC financial derivatives must be combined when calculating counterparty risk limits laid down under article 52 of the 2009 Directive.

All revenues arising from efficient portfolio management techniques, net of direct and indirect operational costs and fees, will be returned to the considered Sub-Fund. In particular, fees and cost may be paid to agents of the Company, to the Management Company, and to other intermediaries providing services in connection with efficient portfolio management techniques as normal compensation of their services. Such fees may be calculated as a percentage of gross revenues earned by the Sub-Fund through the use of such techniques. Information on direct and indirect operational costs and fees that may be incurred in this respect as well as the identity of the entities to which such costs and fees are paid – as well as any relationship they may have with the Depositary or Management Company – will be available in the annual report of the Company. (a) Securities lending and borrowing transactions Several Sub-Funds of the Company intend to enter into securities lending and borrowing transactions that consist in transactions whereby a lender transfers securities or instruments to a borrower, subject to a commitment that the borrower will return equivalent securities or instruments on a future date or when requested to do so by the lender, such transaction being considered as securities lending for the party transferring the securities or instruments and being considered as securities borrowing for the counterparty to which they are transferred. Securities and instruments that may be subject to lending transactions include equities, bonds, money market instruments and exchange traded funds. Securities lending transactions will be entered into for one or more of the following specific aims: (i) reduction of risk; (ii) reduction of cost; or (iii) generation of additional capital or income depending on the expected revenues and costs of the transaction which are essentially driven by the borrower’s demand for the securities or instruments held in each fund’s portfolio at any time. As such, it is expected that the Sub-Funds will enter into such type of transactions on a temporary basis. The Company intends more specifically to enter into securities lending transactions provided that the following rules are complied with in addition to the abovementioned conditions:

x the borrower in a securities lending transaction must be a regulated financial institution which has its registered office in one of the OECD countries, and which is specialised in such types of transactions, has a minimum credit rating of investment grade quality and is subject to prudential supervision (such as credit institution or investment firm). The identity of the borrower will be disclosed in the annual report;

x the Company may only lend securities or instruments to a borrower either directly or through a standardised system organised by a recognised clearing institution or through a lending system organised by a financial institution subject to prudential supervision rules considered by the CSSF as equivalent to those provided by EU law and specialised in this type of transaction;

x the Company may only enter into securities lending transactions provided that it is entitled at any time under the terms of the agreement to request the return of the securities lent or to terminate the agreement.

For certain Sub-Funds, the Company and the Management Company have appointed Amundi Intermediation as securities lending agent (the “ Securities Lending Agent ”).

The Securities Lending Agent is in charge of counterparty selection and best execution.

The securities lending transactions may be executed with related parties, belonging to Credit Agricole Group such as Crédit Agricole CIB and CACEIS. The counterparties with whom securities lending transactions are entered into will be detailed in the annual report of the Company.

The net revenues (that represent the gross revenues minus the direct and indirect operational costs and fees) achieved from techniques and instruments on securities financing transactions remain with the relevant Sub-Fund.

Direct and indirect operational costs and fees may be deducted from the gross revenues delivered to the Sub-Fund. Unless otherwise specified in the relevant Sub-Fund Annex, these costs represent 35% of the gross revenues and are paid to the Securities Lending Agent.

Out of the 35% it receives, the Securities Lending Agent covers its own fees and costs and shall pay any relevant indirect fee and cost (including 5% to Caceis Bank, Luxembourg Branch acting as collateral agent and performing the settlement of securities lending transactions).

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As these direct and indirect operational costs do not increase the costs of running the Sub-Fund, they have been excluded from the ongoing charges.

At least 65% of the gross revenue goes to the relevant Sub-Fund.

Sub-Funds that enter into securities lending may likely be affected by strong variations in context of market opportunities. The volume of use of this technique with a view to optimizing revenues is likely to be impacted by the expected return in consideration of market appetite. During periods of high demand (e.g. borrower demand to borrow stocks from the underlying market), the proportion of the Sub-Funds’ net assets subject to securities lending transactions may approach the maximum percentage, while there may also be periods in which there is little or no demand from the market to borrow the underlying securities, in which case this proportion could be 0%. Furthermore, Sub-Funds may be also affected by on-going adaptation of the market against new regulatory framework implementation. Maximum of use of securities lending will not be above the maximum level indicated in APPENDIX C, such maxima are determined by management constraints.

Both the Securities Lending Agent and Caceis Bank, Luxembourg Branch are related parties to the Management Company.

For the avoidance of doubt securities lending transaction will be limited to Sub-Fund applying Direct Replication investment policy.

The annual report of the Company contains if applicable the following details: x the exposure obtained through efficient portfolio management techniques; x the identity of the counterparty(ies) to these efficient portfolio management techniques; x the type and amount of collateral received by the UCITS to reduce counterparty exposure; and x the revenues arising from efficient portfolio management techniques for the entire reporting period together with the direct and indirect operational costs and fees incurred. The use by any Sub-Fund of securities lending and borrowing transactions will be specified in the table “Securities financing transactions and total return swaps” of the Prospectus, within the meaning of, and under the conditions set out in, applicable laws, regulations and CSSF circulars issued from time to time, in particular, but not limited to regulation (EU) 2015/2365.

(b) repurchase, reverse repurchase and buy-sell-back transactions The Company may enter into repurchase agreements that consist of forward transactions at the maturity of which the Company (seller) has the obligation to repurchase the assets sold and the counterparty (buyer) the obligation to return the assets purchased under the transactions. The Company may further enter into reverse repurchase agreements that consist of forward transactions at the maturity of which the counterparty (seller) has the obligation to repurchase the asset sold and the Company (buyer) the obligation to return the assets purchased under the transactions. The Company’s involvement in such transactions is, however, subject to the additional following rules:

x the counterparty to these transactions must be a regulated financial institution which has its registered office in one of the OECD countries, and which is specialised in such types of transactions, has a minimum credit rating of investment grade quality and is subject to prudential supervision (such as credit institution or investment firm). The identity of the counterparty will be disclosed in the annual report;

x the Company may only enter into reverse repurchase agreement and/or repurchase agreement transactions provided that it is able at any time (a) to recall the full amount of cash in a reverse repurchase agreement or any securities subject to a repurchase agreement or (b) to terminate the agreement in accordance with applicable regulations. However, fixed term transactions that do not exceed seven days should be considered as arrangements on terms that allow the assets to be recalled at any time by the Company. The Company may enter into buy-sell back transactions which consist of transactions, not being governed by a repurchase agreement or a reverse repurchase agreement as described above, whereby a party buys or sells securities or instruments to a counterparty, agreeing, respectively, to sell to or buy back from that counterparty securities or instruments of the same description at a specified price on a future date. Such transactions are commonly referred to as buy-sell back transactions for the party buying the securities or instruments, and sell-buy back transactions for the counterparty selling them. The use by any Sub-Fund of repurchase, reverse repurchase and buy-sell back transactions will be specified in the table “Securities financing transactions and total return swaps”. As of the date of the Prospectus, the Sub-Funds have not engaged and have no intention to engage in repurchase, including reverse repurchase,

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transactions and or buy-sell-back transactions. If any Sub-Fund engages into repurchase, reverse repurchase and/or buy-sell back transactions in the future, the Prospectus will be further amended to provide required information as per the applicable laws and regulations. 2) Techniques and Instruments to protect against exchange risks For the purpose of protecting against currency fluctuations, the Sub-Fund may undertake transactions relating to financial futures, warrants and options contracts traded on a Regulated Market. Alternatively, the Sub-Fund may undertake transactions relating to options, swaps and forward contracts entered into by private agreement (OTC) with regulated financial institutions which have their registered office in one of the OECD countries, and which are specialised in such types of transactions, have a minimum credit rating of investment grade quality and are subject to prudential supervision (such as credit institutions or investment firms).

In order to hedge foreign exchange risks, a Sub Fund may have outstanding commitments in currency futures and/or sell call options, purchase put options or transact in warrants with respect to currencies or enter into currency forward contracts or currency swaps. The hedging objective of the transactions referred to above presupposes the existence of a direct relationship between the contemplated transactions and the assets or liabilities to be hedged and implies that, in principle, transactions in a given currency may not exceed the valuation of the aggregate assets denominated in that currency nor may they, as regards their duration, exceed the period during which such assets are held.

3) Other instruments

(a) Warrants

Warrants shall be considered as transferable securities if they give the investor the right to acquire newly issued or to be issued transferable securities. The Sub-Funds, however, may not invest in warrants where the underlying is gold, oil or other commodities. The Sub-Funds may invest in warrants based on stock exchange indices for the purpose of efficient portfolio management.

(b) Rules 144 A Securities

The Sub-Funds may invest in so-called Rule 144A securities which are securities that are not required to be registered for resale in the United States under an exemption pursuant to Section 144A of the 1933 Act ("Rule 144A Securities") but can be sold in the United States to certain institutional buyers. A Sub-Fund may invest in Rule 144A Securities, provided that: such

securities are issued with registration rights pursuant to which such securities may be registered under the 1933 Act and traded on the US OTC Fixed Income Securities market. Such securities shall be considered as newly issued transferable securities. In the event that any such securities are not registered under the 1933 Act within one year of issue, such securities shall be considered as subject to the 10% limit of the net assets of the Sub-Fund applicable to the category of non-listed securities.

Subject to any limitations in its investment objective and policy and to the Investment Restrictions outlined above, each Sub-Fund may invest in structured notes, comprising listed government bonds, medium-term notes, certificates or other similar instruments issued by prime rated issuers where the respective coupon and/or redemption amount has been modified (or structured), by means of a financial instrument.

The Investment Restrictions apply on the issuer of the Structured Note and also on its underlying assets. These notes are valued by brokers with reference to the revised discounted future cash flows of the underlying assets.

COLLATERAL POLICY

In the context of OTC financial derivatives transactions and efficient portfolio management techniques, the Company may receive collateral with a view to reduce its counterparty risk. This section sets out the collateral policy applied by the Company in such case. All assets received by the Company in this context shall be considered as collateral for the purposes of this section.

Any Eligible Collateral, as detailed below, within the context described above will be the relevant Sub-Fund’s property. It will be delivered on the relevant Sub-Fund’s securities account at its Depositary.

Eligible collateral:

Collateral received by the Company may be used to reduce its counterparty risk exposure if it complies with the criteria set out in applicable laws, regulations and circulars issued by the Luxembourg Supervisory Authority from time to time notably in terms of liquidity, valuation, issuer credit quality, correlation, risks linked to the management of collateral and enforceability. In particular, collateral should comply with the following conditions:

(a) any collateral received other than cash should be of high quality, highly liquid and traded on a regulated market or multilateral trading facility with transparent pricing in order that it can be

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sold quickly at a price that is close to pre sale valuation;

(b) it should be valued on at least a daily basis and assets that exhibit high price volatility should not be accepted as collateral unless suitably conservative haircuts are in place;

(c) it should be issued by an entity that is independent from the counterparty and is expected not to display a high correlation with the performance of the counterparty;

(d) it should be sufficiently diversified in terms of country, markets and issuers with a maximum exposure of 20% of the Sub-Fund’s Net Asset Value to any single issuer on an aggregate basis, taking into account all collateral received;

(e) it should be capable of being fully enforced by the Company at any time without reference to or approval from the counterparty;

(f) where there is a title transfer, collateral received should be held by the Depositary or one of its sub-custodians to which the Depositary has delegated the custody of such collateral. For other types of collateral arrangement (e.g. a pledge), collateral can be held by a third party custodian which is subject to prudential supervision and which is unrelated to the provider of the collateral.

Notwithstanding the condition specified in (d) above, the Sub-Fund may accept collateral that increases its exposure to a single issuer to more than 20% of its net asset value provided that:

- such collateral is issued by (i) a Member State, (ii) one or more of its local authorities, (iii) a third country, or (iv) a public international body to which one or more Member States belong and;

- such collateral consists of at least six different issues, but collateral from any single issue shall not account for more than 30% of the Sub-Fund’s net assets.

The Company has established an Eligibility Policy setting out additional eligibility criteria:

- for equities received as collateral, the Company assesses the eligibility through average daily traded volume and market capitalization thresholds. The Company has also defined eligible countries of issuance for equities received as collateral;

- for bonds received as collateral, the eligibility policy relies on credit risk rating issued by a major rating agency, maturity, seniority of

the debt and minimum outstanding issue thresholds. The Company has also defined eligible countries of issuance for bonds received as collateral, depending on the type of bonds considered.

Subject to the abovementioned conditions, collateral received by the Company may consist of:

(i) cash and cash equivalents, including short term bank certificates and Money market instruments;

(ii) bonds issued or guaranteed by a Member State of the OECD or by their local public authorities or by supranational institutions and undertakings with EU, regional or worldwide scope or by any country as long as the conditions (a) to (e) set out above are fully complied with;

(iii) shares or units issued by money market UCIs calculating a daily net asset value and being assigned a rating of AAA or its equivalent;

(iv) shares or units issued by UCITS investing mainly in bonds/shares mentioned in (v) and (vi) below;

(v) bonds issued or guaranteed by first class issuers offering adequate liquidity;

(vi) shares admitted to or dealt in on a regulated market of a Member State of the EU or on a stock exchange of a Member State of the OECD or the stock exchange of any country as long as the conditions (a) to (e) set out above are fully complied with, on the condition that these shares are included in a main index.

Level and valuation of collateral

The Company will determine the required level of collateral for Funded Swaps by reference to the applicable counterparty risk limits set out in this Prospectus and taking into account the nature and characteristics of transactions, the creditworthiness and identity of counterparties and prevailing market conditions.

The securities acquired by the Sub-Fund as Funded Swap collateral must be issued by an entity that is independent from the counterparty and which is not expected to display a high correlation with the performance of the counterparty.

Haircut policy

Collateral will be valued, on a daily basis, using available market prices and taking into account appropriate discounts which will be determined for each asset class based on the Management Company’s haircut policy.

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Such haircut will be determined by the Management Company based on criteria, including, but not limited to:

(a) nature of the security; (b) maturity of the security (when applicable); (c) the security issuer rating (when applicable).

The Management Company expects that the discount percentages specified in the table below will be used in the calculation of the value of collateral received by the Sub-Fund (the Management Company reserves the right to vary this policy at any time in which case this Prospectus will be updated accordingly):

Collateral Type Margin (i) 100% - 102% (ii) 100% - 110% (iii) 100% - 102% (iv) 100% - 135% (v) 100% - 115% (vi) 100% - 135%

Collateral types denominated in a currency other than the currency of the Sub-Fund may be subject to an additional haircut.

Reinvestment of collateral

Non-cash collateral received by the Company may not be sold, re-invested or pledged. Cash collateral received by the Company can only be:

i. placed on deposit with credit institutions which have their registered office in an EU Member State or, if their registered office is located in a third-country, are subject to prudential rules considered by the Luxembourg Supervisory Authority as equivalent to those laid down in European Union law;

ii. invested in high-quality government bonds;

iii. used for the purpose of reverse repo transactions provided the transactions are with credit institutions subject to prudential supervision and the Company is able to recall at any time the full amount of cash on accrued basis; and/or

iv. invested in short-term money market funds as defined in the Guidelines on a Common Definition of European Money Market Funds.

Re-invested cash collateral should be diversified in accordance with the diversification requirements applicable to non-cash collateral as set out above.

The Sub-Fund may incur a loss in reinvesting the cash collateral it receives. Such a loss may arise due to a decline in the value of the investment made with cash collateral received. A decline in the value of such investment of the cash collateral would reduce the amount of collateral available to be returned by the Sub-Fund to the counterparty at the conclusion of the transaction. The Sub-Fund would be required to cover the difference in value between the collateral originally received and the amount available to be returned to the counterparty, thereby resulting in a loss to the Sub-Fund.

Risk Management Process

The Company will employ a risk-management process which enables it to monitor and measure at any time the risk of the positions and their contribution to the overall risk profile of each Sub Fund. The Company will employ, if applicable, a process for accurate and independent assessment of the value of any OTC derivative instruments.

There are three possible risk measurements approaches (commitment, Absolute Value-at Risk, Relative Value-at-Risk). The Management Company decides which approach is applicable for each Sub-Fund.

Unless otherwise specified in the relevant Sub Fund Appendix, the global exposure of the Sub Funds is calculated using the commitment approach as detailed in applicable laws and regulations, including but not limited to CSSF Circular 11/512.

II/ Net Asset Value

CALCULATION OF THE NET ASSET VALUE PER SHARE

The net asset value per share (hereinafter the " Net Asset Value per Share ") of each Class in each Sub-Fund will be calculated by the Administrative Agent in the reference currency (hereinafter the " Reference Currency ") of each Sub-Fund and Class.

The Net Asset Value per Share is calculated on each Valuation Day as defined in Appendix F Glossary of Terms , and at least twice per month. The Net Asset Value per Share for all Sub-Funds will be determined on the basis of the last available closing prices or other reference prices as specified in the relevant Appendices. If since the close of business, there has been a material change in the quotations on the markets on which a substantial portion of the investments attributable to a particular Sub-Fund are dealt or quoted, the Company may, in order to safeguard the interests of shareholders and the Company,

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cancel the first valuation and carry out a second valuation prudently and in good faith.

The Net Asset Value per Share of each Class of Shares for all Sub-Funds is determined by dividing the value of the total assets of the Sub Fund properly allocable to such Class of Shares less the liabilities of the Sub-Fund properly allocable to such Class of Shares by the total number of Shares of such Class outstanding on any Valuation Day.

The Net Asset Value of the Classes of Shares may differ within each Sub-Fund as a result of the dividend policy, the Management fee, the Administrative fee and Duties and Charges for each Class of Shares. In calculating the Net Asset Value per Share, income and expenditure are treated as accruing on a daily basis.

Swing pricing will be applied to certain Share Classes. The swing pricing is a mechanism that aims to protect the existing Shareholders from dilution of value caused by trading costs incurred as a result of subscription and redemption activity on a Sub-Fund on a particular day (the “ Swing Pricing ”).

The mechanism is applied at the Sub-Fund level to all the Share Classes (except shares denominated as UCITS ETF and EXF shares) and is not meant to address specific circumstances of each individual investor. The Sub-Funds apply Full Swing Pricing (as defined below), that means that Swing Pricing will be applied in any given Business Days where there is subscription and/or redemption activity on the specific Sub-Funds.

The Sub-Fund's NAV will be adjusted in order to reduce the effect of dilution on that Sub-Fund. These adjustments will seek to reflect Duties and Charges, in accordance with the internal process in place in the Management Company.

The NAV will be adjusted upward when there is net inflows into the Sub-Fund and downward when there is net outflow into the Sub-Fund (" Full Swing Pricing "). Any such adjustment will be applied to all the subscriptions and redemptions on this Dealing Day.

For any given Business Day the adjustment will normally not be larger than 2% of the NAV, but the Board of Directors can raise this limit when necessary to protect the interests of Shareholders. In such a case, a communication to Shareholders will be published on the dedicated website: https://www.amundi.lu/retail/Common Content/Shareholder-Notices/Multi-Units Luxembourg. The Board of Directors may delegate to one of the conducting officer of the Management Company to decide to apply a percentage larger than 2% under exceptional circumstances.

The Board of Directors may decide to apply partial swing pricing instead of Full Swing Pricing. Partial swing pricing means that the NAV will be adjusted only if the net subscriptions or redemptions exceed a certain threshold (“ Partial Swing Pricing ”).

In such case, a communication to Shareholders will be published on the dedicated website: https://www.amundi.lu/retail/Common Content/Shareholder-Notices/Multi-Units Luxembourg.

If a Partial Swing Pricing is adopted, any such adjustment will be applied to all the subscriptions and redemptions on this Dealing Day, when net inflows/outflows exceed the threshold. In the same way the Board of Directors may decide at any given time to suspend Partial Swing Pricing.

The Sub-Fund(s) in scope of Partial Swing Pricing will then revert to apply Full Swing Pricing. Shareholders are recommended to check the website to ascertain whether a Sub-Fund is currently applying full or Partial Swing Pricing. The Management Company makes, and periodically reviews, the operational decisions about Swing Pricing, in accordance with its internal process.

(please also see section "Main Share Classes and Fees" in each Sub-Fund’s appendix and " Subscription/Redemption charges " in the section " V/ Investing in the Company on the Primary Market").

The calculation of the Net Asset Value per Share of the different Classes of Shares shall be made in the following manner:

a) The assets of the Company shall be deemed to include:

- all cash on hand or on deposit, including any interest accrued thereon;

- all bills and demand notes payable and accounts receivable (including proceeds of securities sold but not delivered);

- all bonds, time notes, certificates of deposit, shares, stock, debentures, debenture stocks, units or shares of undertakings for collective investment, subscription rights, warrants, options and other securities, financial instruments and similar assets owned or contracted for by the Company (provided that the Company may make adjustments in a manner not inconsistent with paragraph (i) below with regards to fluctuations in the market value of securities caused by trading ex-dividends, ex-rights, or by similar practices);

- all stock dividends, cash dividends and cash distributions receivable by the Company to

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the extent information thereon is reasonably available to the Company;

- all interest accrued on any interest-bearing assets owned by the Company except to the extent that the same is included or reflected in the principal amount of such assets;

- the preliminary expenses of the Company insofar as the same have not been written off;

- all other assets of any kind and nature including expenses paid in advance.

The value of such assets shall be determined as follows:

- the value of any cash on hand or on deposit bills and demand notes and accounts receivable, prepaid expenses, cash dividends, interests declared or accrued and not yet received, all of which are deemed to be the full amount thereof, unless in any case the same is unlikely to be paid or received in full, in which case the value thereof is arrived at after making such discount as may be considered appropriate in such case by the Board of Directors to reflect the true value thereof; - securities listed on a recognised stock exchange or dealt on any other regulated market (hereinafter referred to as a “Regulated Market”) that operates regularly, is recognised and is open to the public, will be valued at their last available closing prices, or, in the event that there should be several such markets, on the basis of their last available closing prices on the main market for the relevant security; - in the event that the last available closing price does not, in the opinion of the Directors, truly reflect the fair market value of the relevant securities, the value of such securities will be determined by the Directors based on the reasonably foreseeable sales proceeds determined prudently and in good faith; - securities not listed or traded on a stock exchange or not dealt on another Regulated Market will be valued on the basis of the probable sales proceeds determined prudently and in good faith by the Directors; - the value of financial derivative instruments traded on exchanges or on other Regulated Markets shall be based upon the last available settlement prices of these financial derivative instruments on exchanges and Regulated Markets on which the particular financial derivative instruments are traded by the Company; provided that if financial derivative instruments could not be liquidated on the day with respect to

which net assets are being determined, the basis for determining the value of such financial derivative instruments shall be such value as the Directors may deem fair and reasonable; - the financial derivative instruments which are not listed on any official stock exchange or traded on any other organised market will be valued in a reliable and verifiable manner on a daily basis and verified by a competent professional appointed by the Company; - investments in UCITS will be valued on the basis of the last available net asset value of the units or shares of such UCITS; - all other transferable securities and other permitted assets will be valued at fair market value as determined in good faith pursuant to procedures established by the Board of Directors; - liquid assets and money market instruments may be valued at market value plus any accrued interest or on an amortised cost basis as determined by the Board of Directors. All other assets, where practice allows, may be valued in the same manner. If the method of valuation on an amortised cost basis is used, the portfolio holdings will be reviewed from time to time under the direction of the Board of Directors to determine whether a deviation exists between the Net Asset Value calculated using the market quotation and that calculated on an amortised cost basis. If a deviation exists which may result in a material dilution or other unfair result to investors or existing shareholders, appropriate corrective action will be taken including, if necessary, the calculation of the Net Asset Value by using available market quotations; and - in the event that the above mentioned calculation methods are inappropriate or misleading, the Board of Directors may adjust the value of any investment or permit some other method of valuation to be used for the assets of the Company if it considers that the circumstances justify that such adjustment or other method of valuation should be adopted to reflect more fairly the value of such investments. Any assets held not expressed in the reference currency of the Company will be converted into such reference currency at the rate of exchange prevailing in a recognised market on the day preceding the Valuation Day.

Any assets held in a particular Sub-Fund not expressed in the Reference Currency of the Sub Fund will be translated into such Reference Currency at the rate of exchange prevailing in a recognised market on the Dealing Day preceding the Valuation Day (as defined in Appendix F

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Glossary of Terms ). The same rule shall supply mutatis mutandis in relation to Classes.

The Board of Directors, in its discretion, may permit some other method of valuation, based on the probable sales price as determined with prudence and in good faith by the Board of Directors, to be used if it considers that such valuation better reflects the fair value of any asset of the Company.

In the event that the quotations of certain assets held by the Company should not be available for calculation of the Net Asset Value per Share of a Sub-Fund, each one of these quotations might be replaced by its last known quotation (provided this last known quotation is also representative) preceding the last quotation or by the last appraisal of the last quotation as of the relevant Valuation Day, as determined by the Board of Directors . b) The liabilities of the Company shall be deemed to include:

i) all loans, bills and accounts payable;

ii) all accrued or payable administrative expenses payable by the Company;

iii) all known liabilities, present and future, including all matured contractual obligations for payment of money or property;

iv) an appropriate provision for future taxes based on capital and income to the Dealing Day preceding the Valuation Day, as determined from time to time by the Company, and other reserves, if any, authorised and approved by the directors, in particular those that have been set aside for a possible depreciation of the investments of the Company; and

v) all other liabilities of the Company of whatsoever kind and nature except liabilities represented by shares of the Company. In determining the amount of such liabilities, the Company shall take into account all expenses payable by the Company.

All shares in the process of being redeemed by the Company shall be deemed to be issued until the close of business on the Valuation Day applicable to the redemption. The redemption price is a liability of the Company from the close of business on this date until paid.

All shares issued by the Company in accordance with subscription applications received shall be deemed issued from the close of business on the

Valuation Day applicable to the subscription. The subscription price is an amount owed to the Company from the close of business on such day until paid.

The net assets of the Company are expressed in Euro and are at any time equal to the total of the net assets of the various Sub-Funds.

TEMPORARY SUSPENSION OF THE CALCULATION OF THE NET ASSET VALUE PER SHARE

The Company may suspend the calculation of the Net Asset Value of one or more Sub-Funds and the issue, redemption and conversion of any Classes of Shares in the following circumstances:

(i) during any period when any of the principal stock exchanges or other markets on which a substantial portion of the investments of the Company attributable to such Sub-Fund from time to time is quoted or dealt in is closed otherwise than for ordinary holidays, or during which dealings therein are restricted or suspended; (ii) during the existence of any state of affairs which constitutes an emergency in the opinion of the Directors as a result of which disposal or valuation of assets owned by the Company attributable to such Sub-Fund would be impracticable; (iii) during any breakdown or restriction in the means of communication normally employed in determining the price or value of any of the investments of such Sub-Fund or the current price or value on any stock exchange or other market in respect of the assets attributable to such Sub-Fund; (iv) during any period when the Company is unable to repatriate funds for the purpose of making payments on the redemption of Shares of such Sub-Fund or during which any transfer of funds involved in the realisation or acquisition of investments or payments due on redemption of Shares cannot, in the opinion of the Directors, be effected at normal rates of exchange; (v) during any period when in the opinion of the Directors of the Company there exist unusual circumstances where it would be impracticable or unfair towards the Shareholders to continue dealing with Shares of any Sub-Fund of the Company or any other circumstance or circumstances where a failure to do so might result in the Shareholders of the Company, a Sub-Fund or a Class of Shares incurring any liability to taxation or suffering other pecuniary disadvantages or other detriment which the shareholders of the Company, a Sub-Fund or a Class of Shares might not otherwise have suffered; (vi) in the event of (i) the publication of the convening notice to a general meeting

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of at which a resolution to wind up the Company or a Sub-Fund is to be proposed, or of (ii) the decision of the Board of Directors to wind up one or more Sub-Funds, or (iii) to the extent that such a suspension is justified for the protection of the Shareholders, of the notice of the general meeting of Shareholders at which the merger of the Company or a Sub-Fund is to be proposed, or of the decision of the Board of Directors to merge one or more Sub-Funds; (vii) when for any other reason beyond the control of the Board of Directors, the prices of any investments owned by the Company attributable to such Sub-Fund cannot promptly or accurately be ascertained; (viii) where a UCITS in which a Sub-Fund has invested a substantial portion of its assets temporarily suspends the calculation of the net asset value of its shares/units or the repurchase, redemption or subscription of its shares/units, whether on its own initiative or at the request of its competent authorities; (ix) following the suspension of the calculation of the net asset value per share/unit, the issue, redemption and/or conversion of shares/units, at the level of a master fund in which a Sub-Fund invests in its quality of feeder fund of such master fund.

The suspension of the calculation of the Asset Value of a Sub-Fund shall have no effect on the calculation of the Net Asset Value per Share, the issue, redemption and conversion of Shares of any other Sub-Fund which is not suspended.

Any such suspension shall be promptly notified to Shareholders requesting redemption or conversion of their Shares by the Company at the time of the filing of the written request for such redemption The Board of Directors may also make public such suspension in such a manner as it deems appropriate.

Suspended subscription, redemption and conversion applications may be withdrawn by written notice provided that the Company receives such notice before the suspension ends.

Suspended subscription, redemption and conversion applications shall be executed on the first Valuation Day following the resumption of Net Asset Value calculation by the Company.

PUBLICATION OF THE NET ASSET VALUE PER SHARE

The Net Asset Value per Share of each Class within each Sub-Fund is made public at the registered office of the Company and is available at the office of the Depositary. The Company may arrange for the publication of this information in leading financial newspapers. The Company

cannot accept any responsibility for any error or delay in publication or for non-publication of prices.

III/ Characteristics of the Shares

THE SHARES (ISSUE AND FORM)

After the initial subscription period, as defined in the relevant Appendices, Shares will be issued at the Net Asset Value per Share of the relevant Class (the " Issue Price "). Fractions of Shares will be issued as determined for each Class and each Sub-Fund in the relevant Appendices, the Company being entitled to receive the adjustment.

The shares will only be issued in registered form. The share register is conclusive evidence of ownership. The Company treats the registered owner of a Share as the absolute and beneficial owner thereof. You can register your Shares in the names of multiple owners (up to four) but can use only one registered address. Each owner of a joint account may act upon the account individually, except with respect to voting rights.

Registered shares are issued in uncertificated form and shall be materialised by an inscription in the register of shareholders.

Shares are freely transferable (with the exception that Shares may not be transferred to any person who is not a Qualified Holder, as defined under paragraph "Subscription Procedure").

Shares do not carry any preferential or pre emptive rights and each Share, irrespective of the Class to which it belongs or its Net Asset Value, is entitled to one vote at all general meetings of shareholders. Fractions of Shares are not entitled to a vote but are entitled to a prorata portion of the Company's performance made to the relevant Shares and of the distribution proceeds at the time of liquidation of the Company. Shares are issued with no par value and must be fully paid for on subscription.

Upon the death of a shareholder, the Board of Directors reserves the right to require the provision of appropriate legal documentation in order to verify the rights of all and any successors in title to Shares.

No Shares of any Class will be issued by the Company during any period in which the determination of the Net Asset Value of the Shares is suspended by the Company, as noted at under "Temporary Suspension of Calculation of the Net Asset Value.

If you invest through an entity that holds your Shares under its own name (a financial intermediary account), that entity is legally entitled to exercise certain rights associated with your Shares, such as voting rights. If you want to retain all Shareholder rights, you may invest directly with the Company. Be aware that in some

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jurisdictions, a financial intermediary account may be the only option available.

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MULTI UNITS LUXEMBOURG

CLASSES OF SHARES

Within each Sub-Fund, the Company can create and issue Share Classes with various characteristics and investor eligibility requirements. Each Share Class is identified first by one of the base Share Classes designations (described in the table below) and then by any applicable suffixes (described in the following the table).

BASE SHARE CLASS DESIGNATIONS

Note that even when an advanced approval from the Board of Directors is not necessary to own a certain Share Class, such approval is always required to serve as a distributor of any given Share Class. Although all minimum initial investment amounts are stated in US Dollars, the minimum for any non-US Dollar Share Class is the equivalent amount in the currency of that Share Class. For Duties and Charges, you might be eligible to pay less than the maximum amounts shown. For more information in this respect, we recommend Shareholders to consult a financial advisor. The comp lete list of Sub-Funds and Share Classes currently available is published on amundi.lu/multi-units-luxembourg.

MAXIMUM FEES DUTIES AND CHARGES ON TRANSACTIONS ANNUAL

Class Label Available to

Board approval needed?

Minimum initial investment *

Purchase Switch Redempt -ion Manage ment

Admini stration

Distri bution

A All investors No None 5.50% 1.00% 1.00% 2.00% 0.50% None

A with specific conditions

Refer to the website www.amundi.lu/multi-inits Luxembour g

Yes*** None 5.50% 1.00% 1.00% 2.00% **** 0.50% None

I Institutional investors No USD 500,000 3.50% 1.00% 1.00% 1.00% 0.40% None

I with specific conditions

Refer to the website www.amundi.lu/multi-units luxembourg Yes

Refer to the website www.amundi.lu / multi-units luxembour g

3.50% 1.00% 1.00% 1.00% **** 0.40% None

M Italian GPF and UCITS, UCIs, mandates or pension vehicles Yes None 3.50% 1.00% 1.00% 1.00% 0.50% None

Institutional investors or feeder funds managed or distributed by an Amundi Group compan y

Yes USD 500,000 6.00% 1.00% 1.00% None 0.50% None

Reserved for intermediaries or providers of individual portfolio management services that are prohibited, by law or contract from retainin g inducements

No None 5.50% 1.00% 1.00% 1.00% 0.50% None

X Institutional investors No USD 5 million 5.00% 1.00% None 0.80% 0.40% None

Institutional investors or funds managed by Amundi Group Compan y

No None 3.50% 1.00% 1.00% 1.00% 0.40% None

UCITS ETF

Authorised participant on the primary market

All investors on the secondary ry market

USD 100,000

None

***** ***** ***** 1.00% 0.40% None

Share Classes denominated with a number are limited to particular investors, distributors or countries. * For purposes of minimum initial investment, we aggregate the investments of a given investor (or group of entities fully owne d by the same parent company) across the entire Company (all Share Classes and all Sub-Funds). Minimums apply in USD or equivalent amoun t in any other currency. ** Maximum fees include (i) maximum purchase or redemption fees as well as (ii) entry or exit charges that may be charged to th e EXF and UCITS ETF Share Classes. *** Except for A3 and A4 Share Classes where no board approval is needed to invest. **** Within this maximum, the actual management fees applied to certain I and A Share Classes with specific conditions may vary according to the assets under management relating to such Share Classes. ***** The conditions under which the Authorised Participants may subscribe for and redeem Shares denominated as “UCITS ETF” are determined by agreements the Investment Manager has entered into with the Authorised Participants, as described in V/ Investing in the Company on the Primary Market.

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SHARE CLASS SUFFIXES

The Company issues two types of Shares: ETF Share Classes and index Share Classes.

ETF Share Classes are denominated "UCITS ETF".

Index Share Classes are denominated with no suffix or with "Index".

Where appropriate, one or more suffixes may be added to the base Share Class to indicate certain characteristics.

i. Currency suffixes for all Share Classes except UCITS ETF Share Classes are of two types: - The main type is a single or double letter that forms part of the actual Share Class label and indicates the primary currency in which the Shares are denominated. Following are the single or double letter currency suffixes currently in use, and the currency each indicates:

A Australian dollar MX Mexican peso CA Canadian dollar N Norwe g ian krone C Swiss franc P Polish zlot y K Czech koruna R Romanian leu E Euro SK Swedish krona G Great Britain Pound S Sin g apore dollar HK Hon g Kon g dollar TB Thai baht F Hun g arian forint U United States dollar J Japanese yen

If no currency is indicated, the Share Class currency is the same as the Reference Currency of the Sub-Fund.

ii. Currency suffixes for UCITS ETF Share Classes: indicate the primary currency in which the UCITS ETF Shares Class is denominated. These are indicated by the applicable three-letter currency code.

If no currency is indicated, the Share Class currency is the same as the Reference Currency of the Sub-Fund.

iii. EXF suffix indicates that Duties and Charges are in form of entry/exit fees.

iv. (C), (D) or Acc, Dist: These indicate whether shares are accumulation (C) or Acc or distribution shares (D) or Dist (see "Distribution Policy" below).

v. H, for all share classes except UCITS ETF Share Classes, or HEDGED, for UCITS ETF Share Classes: indicates that the Shares are currency hedged. Currency hedging seeks to eliminate the effect of foreign exchange rate fluctuations between the Share Class currency and the currency exposure(s) of the relevant Sub-Fund portfolio.

vi. H1, for all Share Classes: indicates that the Shares are currency hedged. For H1 Share Classes currency hedging seeks to eliminate the effect of foreign exchange rate fluctuations between the Share Class currency and the Reference Currency of the relevant Sub-Fund.

However, in practice it is unlikely that the hedging will eliminate 100% of the difference, because Sub-Fund cash flows, foreign exchange rates and market prices are all in constant flux.

For more information on currency hedging, see section "F. INVESTMENT TECHNIQUES".

vii. Number: Indicates that the Shares are limited to particular investors, distributors or countries.

AVAILABLE CLASSES

Not all Share Classes and categories are available in all Sub-Funds, and some Share Classes (and Sub-Funds) that are available in certain jurisdictions may not be available in others. The Company retains the right to offer only one Share Class for subscription in any particular jurisdiction in order to conform to local law, custom, business practice or the Company’s commercial objectives. For the most current information on available Share Classes, go to amundi.lu/Multi-Units-Luxembourg and/or amundietf.com or request a list free of charge from the registered office see section "The Company".

DISTRIBUTION POLICY

Distributing Shares will distribute all or part of the net investment income received by the relevant Sub-Fund, and may also distribute capital gains (both realised and unrealised) and capital. When a dividend is declared, the NAV of the relevant Share Class is reduced by the amount of the dividend.

Shares that have the suffix (D) or Dist declare an annual dividend upon decision of the Board of Directors. These Sub-Funds do not set target dividend amounts.

Additional dividends may be declared as determined by the Board of Directors.

For more information on dividend calendar and objectives, go to amundi.com and/or amundietf.com

Dividends on distributing Shares are paid according to the bank account details the Management Company and/or the Company has on file for your account.

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For each Share Class, dividends are paid in the currency of the Share Class or in such other currency as selected by the Board of Directors. You can request to have your dividends converted to a different currency. If the currency is one that the Sub-Fund uses, there is typically no currency conversion charge. In other cases you will be typically charged applicable currency conversion costs. Contact the Registrar and Transfer Agent for terms and fees and to set up this service (see section "MANAGEMENT AND ADMINISTRATION"). Unclaimed dividend payments will be returned to the Sub-Fund after five years. No interest shall be paid on a dividend declared and held by the Company at the disposal of its beneficiary. Dividends are paid only on Shares owned as at the record date.

Annual dividends are declared separately in respect of such Distribution Shares at the Annual General Meeting of Shareholders.

Accumulating Shares retains all net investment income in the share price and do not distribute them.

In any case, no distribution of dividends may be made if, as a result, the share capital of the Company would fail below the minimum capital required by the Luxembourg law.

Notwithstanding, the Board of Directors may propose to the Annual General Meeting of Shareholders the payment of a dividend if it considers it is in the interest of the Shareholders; in this case, subject to approval of the Shareholders, a cash dividend may be distributed out of the available net investment income and the net capital gains of the Company.

Upon proposal of the Board of Directors, the Annual General Meeting of Shareholders may also decide to distribute to the Shareholders a dividend in the form of Shares of one or more Sub-Funds, in proportion to the existing Shares of the same Sub-Fund, if any, already held by each Shareholder.

In relation to the Distribution Shares existing in certain Sub-Funds (please refer to the Sub Funds’ Appendices).

OTHER POLICIES

Except for the Share Classes denominated "UCITS ETF", a Sub-Fund may issue fractional shares. Fractional shares receive their pro rata portion of any dividends, reinvestments and liquidation proceeds. Shares carry no preferential or preemptive rights. No Sub-Fund is required to give existing Shareholders any special rights or terms for buying new Shares.

IV/ Investing in the Company on the Primary Market

The primary market is the market on which Shares are issued by the Company and/or

redeemed by the Company subject to the terms and conditions stated below and in the relevant Appendices (the “ Primary Market ”’).

The Primary Market regarding Shares of Sub Funds denominated as UCITS ETF is essentially relevant for the Authorised Participants of those UCITS ETF.

The Investment Manager has entered into agreements with the Authorised Participants, determining the conditions under which the Authorised Participants may subscribe for and redeem Shares.

The Primary Market regarding Shares not denominated as “UCITS ETF” is essentially relevant to investors specified in section “CHARACTERISTICS OF THE SHARES SHARE CLASSES - BASE SHARE CLASS DESIGNATIONS.

An Authorised Participant may submit a dealing request to subscribe or redeem Shares in a Sub Fund by an electronic platform for on-line collection of orders or to call dedicated lines to place such orders apart of any electronic platform. In both cases the Authorised Participant will have to submit a Dealing Form. The Deadline for applications received on a Dealing Day is 6.00 p.m Luxembourg time on this day, unless otherwise defined in the relevant Appendices.

The use of the electronic platform is subject to the prior consent of the Management Company or, where relevant, the Investment Manager and must be in accordance with and comply with applicable law. Subscription and redemption orders placed electronically may be subject to a specific Dealing Deadline.

Dealing Forms may be obtained from the Management Company and the Registrar and Transfer Agent.

All applications are at the Authorised Participant’s own risk. Dealing Forms and electronic dealing requests, once accepted, shall (save as determined by the Management Company or, where relevant, the Investment Manager) be irrevocable. The Company, Amundi, the Management Company, the Investment Manager and the Registrar and Transfer Agent shall not be responsible for any losses arising in the transmission of Dealing Forms or for any losses arising in the transmission of any dealing request through the electronic order entry facility.

Applications for Subscriptions/Redemption of Shares received by the Registrar and Transfer Agent on any Dealing Day (as defined in Appendix F Glossary Of Terms ) before any Sub Fund Dealing Deadline (as defined in each Sub Fund’s Appendix), will be processed on that Dealing Day for Subscription/Redemption, using the Net Asset Value per Share calculated on the applicable Valuation Day, as defined in Appendix F Glossary Of Terms , and which will be based on

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MULTI UNITS LUXEMBOURG

the last available closing prices or other reference prices as specified in the relevant Appendices.

All applications for Subscription/Redemption will be dealt at an unknown Net Asset Value ( " forward pricing " ).

Any applications for subscription/redemption received after the Dealing Deadline on the relevant Dealing Day will be processed on the next Dealing Day on the basis of the Net Asset Value per Share determined as of the relevant Valuation Day.

Different time limits may apply if subscriptions for Shares are made through a Distributor/financial intermediary but in any case, the financial intermediary/Distributor will make sure that on a given Dealing Day (as defined in Appendix F Glossary Of Terms ), subscription orders are received by the Registrar and Transfer Agent before the Dealing Deadline. No Distributor/financial intermediary is permitted to withhold subscription orders to benefit personally from a price change. Investors should note that they might be unable to purchase or redeem Shares through a Distributor/financial intermediary on days that such Distributor/financial intermediary is not open for business.

Subscriptions for Shares can be accepted only on the basis of the current Prospectus and each relevant KID. The Company will produce an audited annual report (the " Annual Report ") containing the audited accounts and an unaudited semi-annual report (the " Semi-annual Report "). Following the publication of the first of either report, the current Prospectus at that date will be valid only if accompanied by such Annual Report or Semi-annual Report if more recent. These reports in their latest version will form an integral part of the Prospectus.

Rejection of Subscriptions/Redemptions

The Company may reject or postpone the acceptance of any subscription in whole or in part, and the Board of Directors may, at any time and from time to time and in its absolute discretion without liability and without notice, discontinue the issue and sale of Shares of any Class in any one or more Sub-Funds.

The Company also has absolute discretion (but shall not be obliged) to reject or cancel in whole or in part any subscription for Shares prior to the issue of Shares to an Authorised Participant in the event that an Insolvency Event occurs to the Authorised Participant and/or to minimise the exposure of the Company to an Authorised Participant’s Insolvency Event.

Adjustments on Subscription/Redemptions

The Company also has the right to determine whether it will only accept redemptions from an

Authorised Participant in kind or in cash (or a combination of both cash and in kind) on a case by case basis: (i) upon notification to the relevant Authorised Participant where an Insolvency Event occurs to the relevant Authorised Participant, or the Company reasonably believes that the relevant Authorised Participant poses a credit risk, or (ii) in all other cases, with the relevant Authorised Participant’s consent (where relevant).

Redemption requests will be processed only where the payment is to be made to the Authorised Participant’s account of record. In addition, the Company may impose such restrictions as it believes necessary to ensure that no Shares are acquired by Authorised Participants who are not Qualified Holder.

The Board of Directors may also, in its sole and absolute discretion, determine that in certain circumstances, it is detrimental for existing Shareholders to accept an application for Shares in cash or in kind (or a combination of both cash and in kind), representing more than 5 percent. of the Net Asset Value of a Sub-Fund. In such case, the Board of Directors may postpone the application and, in consultation with the relevant Authorised Participant, require such Authorised Participant to stagger the proposed application over an agreed period of time. The Authorised Participant shall be liable for any costs or reasonable expenses incurred in connection with the acquisition of such Shares.

The Management Company or the Registrar and Transfer Agent reserves the right to request further details from an Authorised Participant. Each Authorised Participant must notify and furnish the Registrar and Transfer Agent with any change in their details and furnish the Company with any additional documents relating to such change as it may request. Amendments to an Authorised Participant’s registration details and payment instructions will only be effected upon receipt by the Registrar and Transfer Agent of the original documentation.

Measures aimed at the prevention of money laundering may require an Authorised Participant to provide verification of identity to the Company (Please refer to section “Money Laundering Prevention” of this Prospectus).

The Company will specify what proof of identity is required, including but not limited to a passport or identification card duly certified by a public authority such as a notary public, the police or the ambassador in their country of residence, together with evidence of the Authorised Participant’s address, such as a utility bill or bank statement. In the case of corporate applicants, this may require production of a certified copy of the certificate of incorporation (and any change of name), by-laws, memorandum and articles of association (or equivalent), and the names and addresses of all directors and beneficial owners.

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It is further acknowledged that the Company, the Management Company and the Registrar and Transfer Agent shall be held harmless by the Authorised Participant against any loss arising as a result of a failure to process the subscription if information that has been requested by the Management Company or the Registrar and Transfer Agent has not been provided by the Authorised Participant.

The Company only accepts the ownership of Shares by any person, firm, partnership or corporate body provided that those holders comply with Luxembourg laws and regulations. Therefore the Company may restrict or prevent the ownership of Shares if it may result in a breach of any Luxembourg law or regulation.

As the Company is not registered under the United States Securities Act of 1933, as amended, neither registered under the United States Investment Company Act of 1940, as amended, its Shares may not be offered or sold, directly or indirectly, in the United States of America or its territories or possessions or areas subject to its jurisdiction, or to citizens or residents thereof.

Accordingly, the Company may require any subscriber to provide it with any information that it may consider necessary for the purpose of deciding whether or not he is, or will be, a Qualified Holder.

" Qualified Holder " means any person who:

a) is authorized to own Shares pursuant to the Luxembourg laws and regulations; and

b) is not a U.S. Person and is a Qualified Purchaser (as defined in the US Investment Company Act of 1940 as amended); and

c) is not a Benefit Plan Investor (as defined in the US Employee Retirement Income Security Act of 1974, as amended); and

d) is not, or is not related to, a citizen or resident of the United States of America, a US partnership, a US corporation or a certain type of estate or trust insofar as the ownership of any Shares or any other equity securities of the Company by such person would materially increase the risk that the Company could be or become a "controlled foreign corporation" within the meaning of the US Internal Revenue Code of 1986, as amended.

The Company retains the right to offer only one Class of Shares for subscription in any particular jurisdiction in order to conform to local law, custom, business practice or the Company’s commercial objectives.

Payment Procedure

The currency of payment for Shares of each Sub Fund will be the Reference Currency as more fully described in each Sub-Fund’s relevant Appendix.

If timely payment for Shares is not made, the relevant issue of Shares may be cancelled and a subscriber may be required to compensate the Company for any loss incurred in relation to such cancellation (as more fully described in paragraph “Failure to Deliver”).

The Board of Directors reserves the right to delay payment for a further five Business Days, without interest accruing, if market conditions are unfavourable, and it is, in the Board of Directors’ reasonable opinion, in the best interest of the remaining shareholders. However, the delay for the payment of redeemed Shares will not exceed 10 Business Days.

All redeemed Shares shall be cancelled by the Company.

Settlement of the transfer of Investments and/or cash payments in respect of subscriptions and redemptions will take place within the Business Days specified in the relevant Confirmation Statement (as defined hereinafter) after the Dealing Day (or such earlier time as the Board of Directors may determine). The Company reserves the right, in its sole discretion, to require the applicant to indemnify the Company against any losses arising as a result of a Sub-Fund’s failure to receive payment within stated settlement times.

Unless otherwise specified in the relevant Confirmation Statement, the standard settlement period for subscribing directly to Shares will be no later than 5 Settlement Days following the relevant Dealing Day.

Unless otherwise specified in the relevant Confirmation Statement, in the case of redemptions, the Registrar and Transfer Agent will issue instructions for payment or settlement to be effected no later than 5 Settlement Days after the relevant Dealing Day for all Sub-Funds. The Company reserves the right to delay payment for a further 5 Settlement Days, provided such delay is in the interest of the remaining Shareholders.

Notwithstanding the foregoing, the payment of the Redemption Proceeds may be delayed if there are any specific local statutory provisions or events of force majeure which are beyond the Company's control which makes it impossible to transfer the Redemption Proceeds or to proceed to such payment within the normal delay. This payment shall be made as soon as reasonably practicable thereafter but without interest.

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A Confirmation Statement will be sent to the subscriber detailing the redemption proceeds due thereto as soon as reasonably practicable after determination of the Redemption Price of the Shares being redeemed. Shareholders should check this statement to ensure that the transaction has been accurately recorded.

Confirmation Statement

A confirmation statement will be sent to the subscriber (or his nominated agent if so requested by the subscriber) as soon as reasonably practicable, providing full details of the transaction (the “ Confirmation statement ”. Subscribers should always check this statement to ensure that the transaction has been accurately recorded.

Subscribers other than Authorised Participants are given a personal account number (the " Account Number ") on acceptance of their initial subscription, and this, together with the shareholder’s personal details, is proof of their identity to the Company. The Account Number should be used by the shareholder for all future dealings with the Company and the Registrar and Transfer Agent . Any change to the shareholder’s personal details, loss of Account Number, must be notified immediately to the Registrar and Transfer Agent. Failure to do so may result in the delay of an application for redemption. The Company reserves the right to require an indemnity or other verification of title or claim to title countersigned by a bank, stockbroker or other party acceptable to it before accepting such changes.

If any subscription is not accepted in whole or in part, the subscription monies or the balance outstanding will be returned to the subscriber by post or bank transfer at the subscriber’s risk.

Suspension of the calculation of the Net Asset Value

No Shares will be issued by the Company during any period in which the calculation of the Net Asset Value of the relevant Sub-Fund is suspended by the Company pursuant to the powers contained in the articles of incorporation of the Company (the " Articles of Incorporation ") and as discussed under paragraph "Temporary Suspension of Calculation of Net Asset Value per Share".

Notice of suspension will be given to subscribers, and subscriptions made or pending during a suspension period may be withdrawn by notice in writing received by the Company prior to the end of the suspension period. Subscriptions not withdrawn will be processed on the first Dealing Day following the end of the suspension period, on the basis of the Net Asset Value per Share determined on the applicable Valuation Day.

Money Laundering Prevention

Pursuant to international rules and Luxembourg laws and regulations comprising, but not limited to, the law of November 12, 2004 on the fight against money laundering and financing of terrorism, as amended, and circulars of the supervising authority, obligations have been imposed on all professionals of the financial sector to prevent the use of undertakings for collective investment for money laundering and financing of terrorism purposes. As a result of such provisions, the Registrar and Transfer Agent must in principle ascertain the identity of the subscriber in accordance with Luxembourg laws and regulations. The Registrar and Transfer Agent may require subscribers to provide any document it deems necessary to effect such identification. In case of delay or failure by an applicant to provide the documents required, the application for subscription (or, if applicable, for redemption) will not be accepted. Neither the Company nor the Registrar and Transfer Agent have any liability for delays or failure to process deals as a result of the applicant providing no or only incomplete documentation. Shareholders may be requested to provide additional or updated identification documents from time to time pursuant to ongoing client due diligence requirements under relevant laws and regulations.

Subscription/Redemption charges

The subscription price of the Shares (the " Subscription Price ") is defined as the "Initial Price" or the "Issue Price" as described in the section "The Shares (issue and form)" plus any Duties and Charges.

The redemption price of the Shares (the " Redemption Price ") is defined as the "Initial Price" or the "Issue Price" as described in the section "The Shares (issue and form)" plus any Duties and Charges.

The Redemption Price being the Net Asset Value per Share calculated on the applicable Valuation Day, as defined in Appendix F Glossary Of Terms , and which will be based on the last available closing prices or other reference prices as specified in the relevant Appendices on the Valuation Day.

The Redemption Price of Shares in any Class may be higher or lower than the Initial Subscription Price paid by the shareholder depending on the Net Asset Value per Share of the Class at the time of redemption.

Each Sub-Fund shall at all times have enough liquidity to enable satisfaction of any requests for redemption of Shares.

Subject to the provisions explained below under "Temporary Suspension of Redemption", applications for redemption will be considered as

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binding and irrevocable by the Company and must be duly signed by all registered shareholders, save in the case of joint registered shareholders where an acceptable power of attorney has been provided to the Company.

Dealings in kind and in Cash

The Company may accept subscriptions and pay redemptions either in kind or in cash (or a combination of both cash and in kind).

For Authorised Participants, the minimum initial subscription amounts and minimum redemption amounts may be higher than the amounts disclosed in each Sub-Fund’s Appendix.

For the avoidance of doubt, for investors other than Authorised Participants, the minimum initial subscription amounts, and minimum redemption amounts will remain as stated in each Sub Fund’s Appendix.

1. In kind dealings

The Management Company will make available the Portfolio Composition File for the Sub-Funds setting out the form of Investments and/or the Cash Component to be delivered (a) by Authorised Participants in the case of subscriptions; or, (b) by the Company in the case of redemptions, in return for Shares. The Management Company’s current intention is that the Portfolio Composition File will normally stipulate that Investments must be in the form of the constituents of the relevant Investments.

The Portfolio Composition File for the Sub-Funds for each Dealing Day will be available upon request from the Management Company and the relevant Intermediary.

2. Cash dealings

The Company may accept subscription and redemption requests which consist wholly of cash.

Authorised Participants wishing to make a cash redemption should notify the Company, care of the Registrar and Transfer Agent in writing and make arrangements for the transfer of their Shares into the Company’s account.

If any single application for cash redemption is received in respect of any one Valuation Day which represents more than 10 percent of the Net Asset Value of any one Sub-Fund, the Board of Directors may ask such Shareholder to accept payment in whole or in part by an in-kind distribution of the portfolio securities in lieu of cash.

In the event that a redeeming Shareholder accepts payment in whole or in part by a distribution in kind of portfolio securities held by the relevant Sub-Fund, the Company may, but is

not obliged to, establish an account outside the structure of the Company into which such portfolio securities can be transferred. Any expenses relating to the opening and maintenance of such an account will be borne by the Shareholder. Once such portfolio assets have been transferred into the account, the account will be valued and a valuation report will be obtained from the Company's auditor. Any expenses for the establishment of such a report shall be borne by the Shareholders concerned or any third party unless the Board of Directors considers that the dealing in kind is in the interest of the Company (or the Sub-Fund concerned) or made to protect the interests of the Company (or the Sub-Fund concerned).

The account will be used to sell such portfolio securities in order that cash can then be transferred to the redeeming Shareholder. Investors who receive such portfolio securities in lieu of cash upon redemption should note that they may incur brokerage and/or local tax charges on the sale of such portfolio securities. In addition, the Redemption Proceeds from the sale by the redeeming Shareholder of the Shares may be more or less than the Redemption Price due to market conditions and/or the difference between the prices used to calculate the Net Asset Value and bid prices received on the sale of such portfolio securities by the relevant redemption settlement time.

3. Directed cash dealing

If any request is made by an Authorised Participant to execute underlying security trades and/or foreign exchange in a specific way, the Management Company will use reasonable endeavours to satisfy such request if possible but the Management Company will not accept any responsibility or liability if the execution request is not achieved in the way requested for any reason whatsoever.

If any Authorised Participant submitting a cash subscription or redemption requests to have the Investments traded with a particular designated broker, the Management Company may at its sole discretion (but shall not be obliged to) transact for Investments with the designated broker. Authorised Participants that wish to select a designated broker are required, prior to the Management Company if applicable transacting Investments, to contact the relevant portfolio trading desk of the designated broker to arrange the trade.

The Management Company will not be responsible, and shall have no liability, if the execution of the underlying securities with the designated broker and, by extension, the Authorised Participant’s subscription or redemption, is not carried out due to an omission, error, failed or delayed trade or settlement on the part of the Authorised Participant or the designated broker.

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Should the Authorised Participant or the designated broker default on, or change the terms of, any part of the underlying securities transaction, they shall bear all associated risks and costs. In such circumstances, the Company and the Management Company have the right to transact with another broker and amend the terms of the Authorised Participant’s subscription or redemption to take into account the default and the changes to the terms.

Failure to deliver

In the event an Authorised Participant fails to deliver (i) the required Investments and Cash Component in relation to an in kind subscription; or (ii) cash in relation to a cash subscription in the stated settlement times for the Sub-Funds (available on the Confirmation Statement) the Management Company reserves the right to cancel the relevant subscription order and the Authorised Participant shall indemnify the Company and the Management Company for any loss suffered by the Company and the Management Company as a result of a failure by the Shareholder Authorised Participant to deliver the required Investments and Cash Component or cash in a timely fashion.

The Board of Directors may, in its sole discretion where it is in the best interests of a Sub-Fund, decide not to cancel a subscription where an Authorised Participant has failed to deliver the required Investments and Cash Component or cash, as applicable, within the stated settlement times. In this event, the Company may temporarily borrow an amount equal to the subscription and invest the amount borrowed in accordance with the investment objective and policies of the relevant Sub-Fund. Once the required Investments and Cash Component or cash, as applicable, have been received, the Company will use this to repay the borrowings. In addition, the Company reserves the right to charge the relevant Authorised Participant for any interest or other costs incurred by the Company as a result of this borrowing.

If the required Investments and Cash Component or cash (as applicable) delivered by the Authorised Participant are not sufficient to cover these interest or other costs, or if the Authorised Participant fails to deliver the required Investments and Cash Component or cash (as applicable) as soon as reasonably practicable, the Management Company may, at its absolute discretion, cancel the order and the Authorised Participant shall indemnify the Company and the Management Company for any (i) interest or costs incurred (including but not limited to transactions costs related to portfolio adjustments, and any applied interests in relation to cash borrowings), and (ii) loss suffered (including but not limited to, any loss of value of underlying assets between hedging and dehedging processes (“ Market Exposure ”)) by the Company and the Management Company as a result of this settlement failure.

A redemption request by an Authorised Participant will only be valid if the Authorised Participant satisfies its settlement obligation to deliver holdings in the required number of Shares in that Sub-Fund to the Administrator by the relevant settlement times (available on the Confirmation Statement). In the event an Authorised Participant fails to deliver the required Shares of the relevant Sub-Fund in relation to a redemption within the stated settlement times, the Company and the Management Company reserves the right (but shall not be obliged) to treat this as a settlement failure by the Authorised Participant and to cancel the relevant redemption order, and the Authorised Participant shall indemnify the Company and the Management Company for any loss suffered by the Company and the Management Company as a result of a failure by the Authorised Participant to deliver the required Shares in a timely fashion, including (but not limited to) any Market Exposure and costs suffered by the Sub-Fund and the Management Company.

Temporary Suspension of Redemption

The right of any shareholder to require the redemption of its Shares of the Company will be suspended during any period in which the calculation of the Net Asset Value per Share of the relevant Sub-Fund is suspended by the Company pursuant to the powers as discussed under paragraph "Temporary Suspension of Calculation of the Net Asset Value". Notice of the suspension period will be given to any shareholder tendering Shares for redemption. Withdrawal of an application for redemption will only be effective if written notification is received by the Registrar and Transfer Agent before termination of the period of suspension, failing which the Shares in question will be redeemed on the first Dealing Day following the end of the suspension period on the basis of the next Net Asset Value per Share determined.

Compulsory Redemption

If the Company discovers at any time that Shares are owned by any person who is not a Qualified Holder, either alone or in conjunction with any other person, whether directly or indirectly, the Board of Directors may at their discretion and without liability, compulsorily redeem the Shares at the Redemption Price as described above after giving notice of at least ten calendar days, and upon redemption, the person who is not a Qualified Holder will cease to be the owner of those Shares. The Company may require any shareholder to provide it with any information that it may consider necessary for the purpose of determining whether or not such owner of Shares is or will be a Qualified Holder.

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Procedures for Redemptions and Conversions representing 10% or more of the net assets of any Sub-Fund

If any single application redemption in cash is received in respect of any one Valuation Day which represents more than 10 %. of the Net Asset Value of any Sub-Fund, the Company will have the right, if the Board of Directors so determines and with the consent of the shareholder concerned, to satisfy payment in kind of the Redemption Price by allocating to such shareholder investments from the portfolio set up in connection with such classes of shares equal in value as of the Valuation Day on which the Redemption Price is calculated to the value of shares to be redeemed in lieu of cash.

If any application for redemption or conversion is received in respect of any one Valuation Day (the " First Valuation Day "), which either singly or when aggregated with other such applications so received, represents more than 10% of the Net Asset Value of any Sub-Fund, the Company reserves the right, in its sole and absolute discretion and without liability (and in the reasonable opinion of the Board of Directors to do so is in the best interest of the remaining shareholders), to scale down pro rata each application with respect to such First Valuation Day so that not more than 10% of the Net Asset Value of the Sub-Funds be redeemed or converted on such First Valuation Day.

To the extent that any application for redemption or conversion is not given full effect on such First Valuation Day by virtue of the exercise by the Company of its power to pro-rate applications, such application shall be treated with respect to the unsatisfied balance thereof as if a further request had been made by the shareholder in question in respect of the next Valuation Day and, if necessary, subsequent Valuation Days, until such application shall have been satisfied in full.

With respect to any application received in respect of the First Valuation Day, to the extent that subsequent applications shall be received in respect of following Valuation Days, such later applications shall be postponed in priority to the satisfaction of applications relating to the First Valuation Day, but subject thereto shall be dealt with as set out above.

CONDITIONS FOR CONVERSION OF SHARES

Unless otherwise mentioned in the Appendices, and except for UCITS ETF Share Classes, you can switch (convert) shares of most Sub-Funds and Classes into Shares within the same Sub Funds and Class or Shares of other Sub-Funds and Classes. To ensure that a switch is permissible, see section "Share Classes" or contact a distributor or the Registrar and Transfer Agent (see section "The Company").

As for the UCITS ETF Share Classes, you can only switch between two UCITS ETF Share Classes.

Shareholders may convert all or part of their Shares into Shares of another Class of the same Sub-Fund or of other Sub-Funds by application in writing or by fax to the Registrar and Transfer Agent or the financial intermediary, stating which Shares are to be converted into which Sub-Funds and/or Classes.

The application for conversion must include either the monetary amount the shareholder wishes to convert or the number of Shares the shareholder wishes to convert. In addition, the application for conversion must include the shareholder’s personal details together with his Account Number. Failure to provide any of this information may result in delay of the application for conversion.

Applications for conversion must be received by the Registrar and Transfer Agent in the delay described in the relevant Appendices before the conversion deadline, which is 5 p.m. in Luxembourg (the " Conversion Deadline " as defined in the Appendix of each Sub-Fund), and will be processed on that Dealing Day, using the Net Asset Value calculated on the applicable Valuation Day, as defined in Appendix F Glossary Of Terms , which will be based on the last available closing prices or other reference prices as specified in the relevant Appendices on such Valuation Day.

All switches are subject to the following conditions: You must meet all eligibility requirements for the Share Class into which you are requesting to switch; you can only switch into a Sub-Fund and Share Class that is available in your country of residence; the switch must not violate any particular restrictions of either Sub Fund involved as stated in each Sub-Fund’s Appendix. The Company processes all switches of Shares on a value-for-value basis, using the NAVs of the two Sub-Funds (and, if applicable, any currency exchange rates) that are in effect as at the time the switch is processed. Once you have placed a request to switch Shares, you can withdraw it only if there is a suspension of trading in Shares for the relevant Sub-Fund.

All applications for conversion will be dealt at an unknown Net Asset Value ( " forward pricing " ).

Any application received after the Conversion Deadline on Dealing Day will be processed on the next Dealing Day, on the basis of the Net Asset Value per Share determined as of the relevant Valuation Day.

Applications for conversion on any one Valuation Day, which either singly or when aggregated with other such applications so received, represent more than 10% of the Net Asset Value of any one Sub-Fund, may be subject to additional

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procedures set forth under paragraph "Procedures for Redemptions and Conversions Representing 10% or more of the net assets of any Sub-Fund.

The rate at which all or part of the Shares in an original Sub-Fund are converted into Shares in a new Sub-Fund or a new Class of Shares is determined in accordance with the following formula:

A = (B x C x D) E

where:

A is the number of Shares to be allocated in the new Sub-Fund/ Class;

B is the number of Shares of the original Sub-Fund/Class to be converted;

C is the Net Asset Value per Share of the original Sub-Fund/Class as of the relevant Valuation Day;

D is the actual rate of exchange on the day concerned in respect of the Reference Currency of the original Sub-Fund/Class and the Reference Currency of the new Sub-Fund/ Class;

E is the Net Asset Value per Share of the new Sub-Fund/Class as of the relevant Valuation Day.

Following such conversion of Shares, the Administrative Agent will inform the shareholder of the number of Shares of the new Sub Fund/Class obtained by conversion and the price thereof. V/ Secondary Market for UCITS ETF LISTING ON THE STOCK EXCHANGE The intention of the Company is for each of its Sub-Funds (or Share Class if relevant) denominated as UCITS ETF (as mentioned in each corresponding Appendix, if applicable), to have at least one Share Class traded throughout the day on at least one regulated market or multilateral trading facility with at least one market maker which takes action to ensure that the stock exchange value of its Share Class does not significantly vary from its Net Asset Value and where applicable its indicative Net Asset Value (as defined below). It is contemplated to make an application to list the Classes of Shares of the Sub-Funds denominated as UCITS ETF on one or several stock exchanges. A list of these stock exchanges where the Shares can be bought and sold can be obtained from the registered office of the Company. Unless otherwise mentioned in the relevant Appendices, the main market maker for all the

Sub-Funds denominated as UCITS ETF is Société Générale Paris office. For the avoidance of doubt, other market makers (whether or not member of the Société Générale’s Group) could be appointed from time to time by the Company in respect of one or several stock exchange on which the certain shares classes are listed.

Certain Authorised Participants who subscribe for Shares may act as market makers; other Authorised Participants are expected to subscribe for Shares in order to be able to offer to buy Shares from or sell Shares to their customers as part of their broker/dealer business.

Through such Authorised Participants being able to subscribe for or redeem Shares, a liquid and efficient secondary market may develop over time on one or more Relevant Stock Exchanges as they meet secondary market demand for such Shares.

Through the operation of such a secondary market, persons who are not Authorised Participants will be able to buy Shares from or sell Shares to other secondary market investors or market makers, broker/dealers, or other Authorised Participants.

Investors should be aware that on days other than Business Days or Dealing Days of a Sub Fund when one or more markets are trading Shares but the underlying market(s) on which the Reference Index of the Sub-Fund are traded are closed, the spread between the quoted bid and offer prices in the Shares may widen and the difference between the market price of a Share and the last calculated Net Asset Value per Share may, after currency conversion, increase.

Investors should also be aware that on such days the Reference Index would not necessarily be calculated and available for investors in making their investment decisions because prices of the Reference Index would not be available on such days. The settlement of trades in Shares on Relevant Stock Exchanges will be through the facilities of one or more clearing and settlement systems following applicable procedures which are available from the Relevant Stock Exchanges.

INDICATIVE NET ASSET VALUE PER SHARE

The Company may at its discretion make available or may designate other persons to make available on its behalf, on each Business Day, an intra-day net asset value (the " iNAV ") for one or more Sub-Funds considered as UCITS ETF. If the Company or its designee makes such information available on any Business Day, the iNAV will be calculated based upon information available during the trading day or any portion of the trading day, and will ordinarily be based upon the current value of the assets/exposures, adjusted by the relevant foreign exchange rate, as the case may be, of the Sub-Fund and/or the considered financial index in effect on such

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Business Day, together with any cash amount in the Sub-Fund as at the previous Business Day. The Company or its designee will make available an iNAV if this is required by any relevant stock exchange.

An iNAV is not, and should not be taken to be or relied on as being, the value of a Share or the price at which Shares may be subscribed for or redeemed or purchased or sold on any relevant stock exchange. In particular, any iNAV provided for any Sub-Fund where the constituents of the concerned financial index are not actively traded during the time of publication of such iNAV may not reflect the true value of a Share, may be misleading and should not be relied on.

Investors should be aware that the calculation and reporting of any iNAV may reflect time delays in the receipt of the prices of the relevant constituent securities in comparison to other calculated values based upon the same constituent securities including, for example, the concerned financial index or the iNAV of other exchange traded funds based on the same concerned financial index. Investors interested in buying or selling Shares on a relevant stock exchange should not rely solely on any iNAV which is made available in making investment decisions, but should also consider other market information and relevant economic and other factors (including, where relevant, information regarding the concerned financial index, the relevant constituent securities and financial instruments based on the concerned financial index corresponding to the relevant Sub-Fund).

Additional information on the iNAV for one or more Sub-Funds considered as UCITS ETF may, subject to the conditions and limits of the considered market operator, be provided on the website of the relevant stock exchange that lists the Shares. This information is also available on Reuters or Bloomberg page dedicated to the Share considered. Additional information on the Bloomberg and Reuters codes corresponding to the iNAV of any Share Class quoted on a stock exchange is also available under the “factsheet” section of the website www.amundietf.com.

PURCHASE AND SALE PROCEDURE ON THE SECONDARY MARKET

The secondary market is the market on which the Shares can be purchased and/or sold directly on the stock exchanges (the “ Secondary Market ”).

For all purchases and/or sales of Shares made on the Secondary Market, no minimum purchase and/or sale is required other than the minimum that may be required by the relevant stock exchange.

The Company will not charge any purchase or sale fee in relation to the purchase or sale of the Shares of UCITS ETF on any exchange where they are listed. However, some market intermediaries may charge broker fees or other

kind of fees. The Company does not receive these fees.

The Shares of the Sub-Funds purchased on the Secondary Market are generally not redeemable from the Company. Investors must buy and sell the Shares on the Secondary Market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees for doing so. In addition, investors may pay more than the current net asset value when buying Shares and may receive less than the current net asset value when selling them.

In the event of a Suspension of the Secondary Market (as defined below), not based on an Index Liquidity Event (as defined below), the Management Company will allow shareholders to redeem their Shares on the Primary Market at a price based at the applicable Net Asset Value per Share, provided that the Net Asset Value per Shares is not itself suspended under the applicable regulations and/or the Prospectus and/or the Articles of Incorporation.

“Suspension of the Secondary Market ” means any situation where it is impossible for shareholders to sell their Shares on all the stock exchanges where the considered Sub-Fund is listed for a period of at least of three Business Days since the occurrence of (i) the suspension of quotation by the market operator or (ii) the impossibility to trade observed by all shareholders on the considered stock exchange, and which is based on either:

i. the significant variation of the stock exchange value of the considered listed Shares of the Sub-Fund in comparison with its indicative net asset value;

ii. the lack of Authorised Participants, or the inability by the Authorised Participants to meet their commitment to conduct their business by means of a permanent presence on the market, thus making it impossible to trade the considered Shares on the considered place of quotation to which the share class is admitted.

“ Index Liquidity Event ” means any market disruption event and/or any liquidity issue affecting part or all the components of the Index, which leads to a suspension of their market appreciation.

Upon Suspension of the Secondary Market, the following redemption procedure (the “ Procedure ”) will apply. Redemption orders initiated in case of Suspension of the Secondary Market shall be sent by any considered Shareholder to the financial intermediary acting as account keeper of its Shares (the “Relevant Intermediary”) and shall contain (i) the number of Shares to be redeemed and the (ii) targeted redemption date and (ii) a copy of the notice published by the Management Company on its

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website (www.amundietf.com) and presenting the decision to extend the Primary Market (the “Extended Primary Market Notification”) for any considered Share Class of a Sub-Fund.

Redemption orders dealt in those circumstances shall be relayed, through the Relevant Intermediary, to a member of Euroclear France and then transmitted by such member to the pre centralization agent of the considered Sub-Fund “Société Générale SGSS/CHB/SET/DIR/NANT, 32 avenue du Champ de Tir, BP 81 236, 44312 NANTES CEDEX 3, FRANCE”.

The aforementioned pre-centralisation agent will forward the redemption orders to the Registrar and Transfer Agent.

Depending on the arrangements in place between the Relevant Intermediary and the other investment firms involved in the redemption chain, additional constraints, delays or intermediary fees could be applicable, and the Shareholders are invited to contact their Relevant Intermediary in order to obtain additional information about those eventual constraints and/or fees (being understood that such Intermediary fees will not benefit to the Management Company).

The foregoing is a summary of the Procedure which will be further detailed in the Extended Primary Market Notification.

Redemption orders dealt with in these circumstances in accordance of the terms of the Procedure will not be subject to the potentially applicable minimum redemption thresholds and the Duties and Charges should not be higher than 3%.

VI/ Miscellaneous

COMPANY CHARGES

The Company (or each Sub-Fund or Classes of Shares if relevant on a pro rata basis) will pay a management fee and an administrative fee, as a percentage of its Net Asset Value, as detailed in each Sub-Fund’s Appendix.

Are deemed to constitute a Management fee (hereafter the “ Management fee ”), the fees that compensate the Management Company for the services provided in relation to the relevant Sub Fund and all other service providers including distributors.

Are deemed to constitute an administrative fee (hereafter the “ Administrative fee ”) the fees and expenses of the Company which are generally based on the net assets of the relevant Sub Funds or Classes of Shares if relevant and which include but are not limited to:

- fees of professional firms, such as the auditors and legal advisers;

- government, regulatory, registration, local representatives, cross-border marketing and listing related expenses;

- costs of providing information to shareholders, such as the costs of creating, translating, printing and distributing shareholder reports, prospectuses and KIDs;

- extraordinary expenses, such as any legal or other expertise needed to defend the interests of Shareholders;

- all other costs associated with operation and distribution, including expenses incurred by the Management Company, Depositary and all service providers in the course of discharging their responsibilities to the Company.

Such Administrative fee also include all other costs incurred by the Management Company in maintaining and operating the Sub-Funds.

Expenses not included in the Management fee or Administrative fee disclosed in each Sub-Fund’s Appendix:

- taxes on assets and income;

- standard brokerage fees and bank charges incurred on business transactions and securities trades;

- any fees that the board agrees the Company should pay to independent board members for their service on the board (currently, no such fees are paid);

- any fees and costs incurred by the agents of Amundi Asset Management centralising orders and supporting best execution; some of these agents may be affiliates of Amundi.

Both Management fee and Administrative fee may be paid by the Company either directly to the Management Company (which may in turn pay the Service Provider when applicable) or directly to the relevant Service Providers as defined below.

TAXATION

The information set forth below is based on law and administrative practice in Luxembourg as at the date of this Prospectus and may be subject to modification thereof. The Company, the Management Company and their affiliates do not provide tax advice. The tax treatment of investments will depend on an individual’s circumstances. If investors are in any doubt as to their tax position, they must consult with an appropriate professional tax adviser.

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The Company

A charge (Taxe d’abonnement) equal to (i) 0.01% per annum for all Classes of Shares dedicated to institutional investors and (ii) 0.05% per annum for the Classes dedicated to retail investors, is payable quarterly to Luxembourg authorities and calculated on the basis of the Net Assets of each Sub-Fund on the last day of the quarter.

The portion of the assets of any Sub-Fund invested in other Luxembourg UCI is not subject to the aforesaid tax.

The Sub-Funds (i) whose securities are listed or traded on at least one stock exchange or another regulated market operating regularly, recognised and open to the public and (ii) whose exclusive object is to replicate the performance of one or more indices are not subject to the aforesaid tax.

If several Classes of Shares exist within the relevant Sub-Fund, the exemption only applies to Classes of Shares fulfilling the conditions of sub point (i) above.

At the date of this Prospectus, the Company is not liable to any Luxembourg tax other than a once-and-for-all tax of EUR 1,250.- that was paid by the Company upon incorporation.

Investment income from dividends and interest received by the Company may be subject to withholding taxes at varying rates. Such withholding taxes are not usually recoverable.

Shareholders

The Council of the European Union has adopted, on 3 June 2003, the European Savings Directive 2003/48/EC of the Council on savings income in the forms of interest implemented into Luxembourg National Law by the law of 12 April 2005 (the " 2005 Law "). According to the provision of the 2005 Law, a taxation may apply to individual resident of a Member State of the European Unions who have invested assets in another Member State of the European Union.

The EU Savings Directive has been repealed by Council Directive of 2015/2060 of 10 November 2015 with effect from 1 January 2016. However, for a transitional period, the EU Savings Directive shall continue to apply and notably regarding reporting obligations and scope of information to be provided by the Luxembourg paying agent (within the meaning of the EU Savings Directive) and regarding obligations of the EU Member States in respect of the issuance of the tax residence certificate and elimination of double taxation.

As a consequence of the repeal of the EU Savings Directive, the 2005 Law will no longer apply, save for the provisions related to the above mentioned obligations and within the transitional period foreseen by the said Council Directive.

On 9 December 2014, the Council of the European Union adopted Directive 2014/107/EU amending Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation, which now provides for an automatic exchange of financial account information between EU Member States (“ DAC Directive ”), including income categories contained in the EU Savings Directive. The adoption of the aforementioned directive implements the OECD Common Reporting Standard and generalizes the automatic exchange of information within the European Union as of 1 January 2016.

Thus, the measures of cooperation provided by the EU Savings Directive are to be replaced by the implementation of the DAC Directive which is also to prevail in cases of overlap of scope. As Austria has been allowed to start applying the DAC Directive up to one year later than other Member States, special transitional arrangements taking account of this derogation apply to Austria.

In addition, Luxembourg signed the OECD’s multilateral competent authority agreement (“ Multilateral Agreement ”) to automatically exchange information under the CRS. Under this Multilateral Agreement, Luxembourg will automatically exchange financial account information with other participating jurisdictions as of 1 January 2016.

The Luxembourg law of 18 December 2015 relating to the automatic exchange of information in tax matters that implements the DAC Directive and the Multilateral Agreement in Luxembourg has been published in the official journal on 24 December 2015 and is effective as from 1 January 2016 (the “ CRS Law ”).

Shareholders should get information about, and where appropriate take advice on, the impact of the changes to the EU Savings Directive, the implementation of the DAC Directive and the Multilateral Agreement in Luxembourg and in their country of residence on their investment.

AUTOMATIC EXCHANGE OF INFORMATION

The Company may be subject to the Standard for Automatic Exchange of Financial Account Information in Tax matters (the “ Standard ”) and its Common Reporting Standard (the “ CRS ”) as set out in the CRS Law.

Under the terms of the CRS Law, the Company is likely to be treated as a Luxembourg Reporting Financial Institution. As such, as of 30 June 2017 and without prejudice to other applicable data protection provisions as set out in the Company documentation, the Company will be required to annually report to the Luxembourg tax authority (the “ LTA ”) personal and financial information related, inter alia, to the identification of, holdings by and payments made to (i) certain investors as per the CRS Law (the “ Reportable Persons ”) and (i i) the controlling persons (i.e. the natural

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persons who exercise control over an entity, in accordance with the Financial Action Task Force Recommendations - the “ Controlling Persons ”) of certain non-financial entities (“ NFEs ”) which are themselves Reportable Persons. This information, as exhaustively set out in Annex I of the CRS Law (the “ Information ”), will include personal data related to the Reportable Persons.

The Company’s ability to satisfy its reporting obligations under the CRS Law will depend on each investor providing the Company with the Information, along with the required supporting documentary evidence. In this context, the investors are hereby informed that, as data controller, the Company will process the Information for the purposes as set out in the CRS Law. The investors undertake to inform their Controlling Persons, if applicable, of the processing of their Information by the Company.

The investors are further informed that the Information related to Reportable Persons within the meaning of the CRS Law will be disclosed to the LTA annually for the purposes set out in the CRS Law. In particular, the investors are also informed that the Management Company or its delegates may from time to time require the investors to provide information in relation to their identity and fiscal residence of financial account holders (including certain entities and their Controlling Persons) in order to ascertain their CRS status and report information regarding a shareholder and his/her/its account to the LTA.

The investors further undertake to immediately inform the Company of, and provide the Company with all supporting documentary evidence of any changes related to the Information after occurrence of such changes.

Any investor that fails to comply with the Company’s Information or documentation requests may be held liable for penalties imposed on the Company and attributable to such investor’s failure to provide the Information or subject to disclosure of the Information by the Company to the LTA, in accordance with the applicable domestic legislation.

The Company reserves the right to refuse any application for Shares if the information provided or not provided does not satisfy the requirements under the CRS Law.

Investors should consult their professional advisors on the possible tax and other consequences with respect to the implementation of the CRS.

SUSTAINABLE INVESTING

Disclosure Regulation

On 18 December 2019, the European Council and European Parliament announced that they had reached a political agreement on the Disclosure Regulation, thereby seeking to

establish a pan-European framework to facilitate Sustainable Investment. The Disclosure Regulation provides for a harmonised approach in respect of sustainability-related disclosures to investors within the European Economic Area's financial services sector.

The scope of the Disclosure Regulation is extremely broad, covering a very wide range of financial products (e.g. UCITS funds, alternative investment funds, pension schemes etc.) and financial market participants (e.g. E.U. authorised investment managers and advisers). It seeks to achieve more transparency regarding how financial market participants integrate Sustainability Risks (as defined in Appendix F Glossary Of Terms ) into their investment decisions and consider adverse sustainability impacts in the investment process. Its objectives are to (i) strengthen protection for investors of financial products, (ii) improve the disclosures made available to investors by financial market participants and (iii) improve the disclosures made available to investors regarding the financial products, to amongst other things, enable investors to make informed investment decisions.

For the purposes of the Disclosure Regulation, the management company meets the criteria of a "financial market participant", whilst the Company and each Sub-Fund qualifies as a "financial product".

Taxonomy Regulation

The Taxonomy Regulation aims to identify economic activities which qualify as environmentally sustainable (the "Sustainable Activities").

Article 9 of the Taxonomy Regulation identifies such activities according to their contribution to six environmental objectives: (i) Climate change mitigation; (ii) Climate change adaptation; (iii) Sustainable use and protection of water and marine resources; (iv) Transition to a circular economy; (v) Pollution prevention and control; (vi) Protection and restoration of biodiversity and ecosystems.

An economic activity shall qualify as environmentally sustainable where that economic activity contributes substantially to one or more of the six environmental objectives, does not significantly harm any of the other five environmental objectives ("do no significant harm" or "DNSH" principle), is carried out in compliance with the minimum safeguards laid down in Article 18 of the Taxonomy Regulation and complies with technical screening criteria that have been established by the European Commission in accordance with the Taxonomy Regulation. The "do no significant harm" principle applies only to those investments underlying the relevant Sub-Funds that take into account the European Union criteria for environmentally sustainable economic activities. The investments

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underlying the remaining portion of the relevant Sub-Funds do not take into account the EU criteria for environmentally sustainable economic activities.

The Sub-Funds identified as Article 8 or Article 9 in their respective Appendix may commit or may not commit to invest, at the date of this Prospectus, in economic activities that contribute to the environmental objectives set out in the Article 9 of the Taxonomy Regulation.

For more information on Amundi’s approach to the Taxonomy Regulation please refer to Appendix G – ESG Related Disclosures to this Prospectus and to the Amundi ESG Regulatory Statement on www.amundi.com . Commission Delegated Regulation (EU) 2022/1288 of 6 April 2022

Commission Delegated Regulation (EU) 2022/1288, setting out the RTS was published on 25 July 2022 in the Official Journal of the EU (OJ). The RTS applies since 1 January 2023.

Further to art. 14 (2) of the RTS, information about the environmental or social characteristics of art. 8 sub-funds is available in APPENDIX G - ESG Related Disclosures to this Prospectus.

Further to art. 18 (2) of the RTS, information about sustainable investments of art. 9 sub funds is available in APPENDIX G - ESG Related Disclosures to this Prospectus.

For further details on how a Sub-Fund complies with the requirements of the Disclosure Regulation, the Taxonomy Regulation and the RTS, please refer to each Sub-Fund’s Appendix , the annual financial statements of the Company, and also to APPENDIX G - ESG Related Disclosures to this Prospectus.

Minimum Standards and Exclusion Policy of the Amundi’s Global Responsible Investment Policy

Since its creation, the Amundi group of companies (" Amundi ") has made responsible investment and corporate responsibility as one of its founding pillars, based on the conviction that economic and financial actors have a greater responsibility towards sustainable society and that ESG is a long-term driver of financial performance.

Amundi considers that, in addition to economic and financial aspects, the integration within the investment decision process of ESG dimensions, including Sustainability Factors and Sustainability Risks, allows a more comprehensive assessment of investment risks and opportunities.

Integration of Sustainability Risks by Amundi

Amundi’s approach to Sustainability Risks relies on three pillars: a targeted exclusion policy, integration of ESG scores in the investment process and stewardship.

For passively managed Sub-Funds, Amundi may exclude controversial weapons manufacturers as detailed in Amundi’s Global Responsible Investment Policy. Amundi has also developed a range of passively managed sub-funds that replicate indices that explicitly take into account Sustainability Risks and PAIs on Sustainability Factors in their methodologies. For this particular range of passively managed sub-funds, the management process excludes companies which contravene with the Global Responsible Investment Policy described below, such as those which do not respect international conventions, internationally recognized frameworks or national regulations.

In addition Amundi has developed its own ESG rating approach. The Amundi ESG rating aims to measure the ESG performance of an issuer, i.e. its ability to anticipate and manage Sustainability Risks and opportunities inherent to its industry and individual circumstances.

Amundi ESG rating process is based on the "best-in-class" approach. Ratings adapted to each sector of activity aim to assess the dynamics in which companies operate.

ESG rating and analysis is performed within the ESG Research team of Amundi, which is also used as an independent and complementary input into the decision process.

The Amundi ESG rating is a ESG quantitative score translated into seven grades, ranging from A (the best scores) to G (the worst). In the Amundi ESG Rating scale, the securities belonging to the exclusion list correspond to a G.

For corporate issuers the ESG performance is assessed by comparison with the average performance of its industry, through the three ESG dimensions:

1. Environmental dimension: this examines issuers' ability to control their direct and indirect environmental impact, by limiting their energy consumption, reducing their greenhouse emissions, fighting resource depletion and protecting biodiversity.

2. Social dimension: this measures how an issuer operates on two distinct concepts: the issuer's strategy to develop its human capital and the respect of human rights in general.

3. Governance dimension: This assesses capability of the issuer to ensure the basis for an effective corporate governance framework and generate value over the long-term.

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The methodology applied by Amundi ESG rating uses 38 criteria that are either generic (common to all companies regardless of their activity) or sector specific which are weighted according to sector and considered in terms of their impact on reputation, operational efficiency and regulations in respect of an issuer. Amundi’s ESG rating scoring methodology for sovereign issuers relies on a set of about 50 criteria deemed relevant by Amundi ESG Research team to address Sustainability Risks and Sustainability Factors.

For more information on the 38 criteria considered by Amundi (as of January 02, 2023) please refer to the Global Responsible Investment Policy and Amundi ESG Regulatory Statement available on www.amundi.lu.

The Amundi ESG rating also considers potential negative impacts of the issuer's activities on sustainability (PAIs of investment decisions on Sustainability Factors, as determined by Amundi) including on the following indicators: - Greenhouse gas emission and Energy Performance (emissions and energy use criteria)

- Biodiversity (waste, recycling, biodiversity and pollution criteria, responsible management forest criteria)

- Water (water criteria)

- Waste (waste, recycling, biodiversity and pollution criteria) - Social and employee matters (community involvement and human rights criteria, employment practices criteria, board structure criteria, labour relations criteria and heal and safety criteria)

- Human rights (community involvement & human rights criteria) - Anti-corruption and anti-bribery (ethics criteria)

Stewardship activity is an integral part of Amundi’s ESG strategy. Amundi has developed an active stewardship activity through engagement and voting. The Amundi Engagement Policy applies to all Amundi funds and is included in the Global Responsible Investment Policy.

More detailed information are included in the Amundi's Global Responsible Investment Policy and in the Amundi’s ESG Regulatory Statement available at www.amundi.com . Investors' attention is drawn to the fact that the fiduciary duty and regulatory obligation in passive management is to replicate as closely as possible an index. Therefore, the Investment Managers have to meet the contractual objective to deliver a passive exposure in line with the replicated index. As a result, the Investment Managers may have

to invest and/or stay invested in securities comprised in the index and impacted by an event of serious controversies, acute sustainability risks or material negative impact on sustainability factors that may lead to an exclusion from Amundi’s actively managed products or ESG ETF/index products. Should you want to consider an ESG alternative, you will find a wide range of options within our responsible investing range

Impact of Sustainability Risks on a Sub-Fund’s returns

Despite the integration of Sustainability Risks in the Sub-Funds’ investment strategies as detailed above and in the Amundi ESG Regulatory Statement, certain Sustainability Risks will remain unmitigated.

Unmitigated residual Sustainability Risks at the issuer level may result, when they materialise, over time horizons that can be also long-term, in a lower financial performance of the components of the index tracked by the Sub-Funds. Depending on the exposure of the Sub-Funds to the affected securities, the impact of unmitigated or residual Sustainability Risks on the Sub Funds’ financial performance can have varying levels of severity.

Integration of Amundi’s Sustainability Risks approach at Sub-Fund level

The Sub-Funds classified pursuant to article 8 of the Disclosure Regulation (the “Article 8 Sub Funds”) aim to promote environmental or social characteristics and to invest in companies that follow good governance practices. These Sub Funds, unless otherwise specified in their investment policies, exclude all issuers specified in the exclusion list of the Global Responsible Investment Policy as outlined above. In addition to applying the Global Responsible Investment Policy, these Article 8 Sub-Funds aim to promote such characteristics through increased exposure to sustainable assets gained by seeking to achieve an ESG score of their portfolios greater than of their respective benchmark or investment universe. The ESG portfolio score is the weighted average of the issuers' ESG score based on the Amundi ESG scoring model. These Article 8 Sub Funds integrate Sustainability Risks via a targeted exclusion policy, integration of ESG scores in their investment processes and via a stewardship approach.

The Sub-Funds classified under article 9 of the Disclosure Regulation aim to have sustainable investment as their objective.

Please refer to Appendix A of this Prospectus for the list of Sub-Funds classified pursuant to article 8 and article 9 of the Disclosure Regulation.

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FINALLY, IN ACCORDANCE WITH AMUNDI’S GLOBAL RESPONSIBLE INVESTMENT POLICY, THE INVESTMENT MANAGERS OF ALL OTHER SUB-FUNDS, NOT CLASSIFIED PURSUANT TO ARTICLE 8 OR 9 OF THE DISCLOSURE REGULATION, EXCEPT IF OTHERWISE STATED IN THE APPENDIX OF THE RELEVANT SUB-FUND, INTEGRATE SUSTAINABILITY RISKS IN THEIR INVESTMENT PROCESSES AS A MINIMUM VIA A STEWARDSHIP APPROACH AND, POTENTIALLY, DEPENDING ON THEIR INVESTMENT STRATEGY AND ASSET CLASSES, ALSO VIA A TARGETED EXCLUSION POLICY.

Principal Adverse Impacts

Principal Adverse Impacts (“PAIs”) are negative, material or likely to be material effects on Sustainability Factors that are caused, compounded by or directly linked to investment decisions by the issuer.

For passively managed Sub-Funds, Amundi considers PAIs via a combination of approaches: exclusions, ESG rating integration, engagement, vote, controversies monitoring.

For Sub-Funds classified under art. 8 and art. 9 of the Disclosure Regulation, information on PAI consideration is detailed in the dedicated sections of ESG Related Disclosures to this Prospectus in Appendix G.

For all other Sub-Funds not classified pursuant to art. 8 or art. 9 of the Disclosure Regulation Amundi considers only indicator n.14 (Exposure to controversial weapons, anti-personnel mines, cluster munitions, chemical weapons and biological weapons) of Annex 1, Table 1 of the RTS.

All other Sub-Funds not classified pursuant to art. 8 or art. 9 of the Disclosure Regulation take into account PAIs of investments on Sustainability Factors in their investment process by excluding securities of companies involved in the production or sale of controversial weapons, except if otherwise stated in the Appendix of the relevant Sub-Fund.

More detailed information on PAIs and Sustainability Factors is available in the Company’s annual report and in the Amundi ESG Regulatory Statement available at www.amundi.com.

Guidelines on funds’ names using ESG or sustainability-related terms

On 14 May 2024 ESMA published the Guidelines on funds’ names using ESG or sustainability related terms (the ‘ Guidelines ’). They entered into force on 21 November 2024 for new Sub Funds and will enter into force on 21 May 2025 for Sub-Funds created on or before 21 November

2024. Their objective is to protect investors against misleading sub-funds names which may contain inaccurate sustainability claims and to provide guidance to fund managers in relation to what ESG or sustainability-related names they can use in their funds.

All the Sub-Funds in scope of the Guidelines must comply with the two rules below, namely:

- Minimum 80% of their investments is used to meet environmental or social characteristics in case of art. 8 Sub-Funds, or sustainable investment objectives in case of art. 9 Sub Funds.

- Compliance with the exclusions under either the EU Paris-Aligned Benchmarks (“PAB”) or EU Climate Transition Benchmarks (“CTB”). Additional obligations are specified in the Guidelines depending on whether the Sub Fund’s names contain ‘transition’, ‘impact’, ‘sustainable’ or any terms derived from these words, or a combination of them.

The PAB exclusions as per Art. 12 (1) (a)-(g) of the Commission Delegated Regulation (EU) 2020/1818 of 17 July 2020 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council as regards minimum standards for EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks are:

(a) companies involved in any activities related to controversial weapons. (b) companies involved in the cultivation and production of tobacco. (c) companies that benchmark administrators find in violation of the United Nations Global Compact (UNGC) principles or the Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises. (d) companies that derive 1 % or more of their revenues from exploration, mining, extraction, distribution or refining of hard coal and lignite. (e) companies that derive 10 % or more of their revenues from the exploration, extraction, distribution or refining of oil fuels. (f) companies that derive 50 % or more of their revenues from the exploration, extraction, manufacturing or distribution of gaseous fuels. (g) companies that derive 50 % or more of their revenues from electricity generation with a GHG intensity of more than 100 g CO2 e/kWh.

The CTB exclusions as per Art. 12 (1) (a)-(c) of the Commission Delegated Regulation (EU) 2020/1818 of 17 July 2020 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council as regards

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minimum standards for EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks are:

When a Sub-Fund complies with the PAB exclusions this has been disclosed in the Index methodology section of the relevant Sub-Fund and in the relevant section of the Sustainability Annex.

When a Sub-Fund complies with the CTB exclusions this has been disclosed in the relevant section of the Sustainability Annex .

THE VOLCKER RULE

Legislative and regulatory changes in the United States are relevant to Crédit Agricole, the Sub Funds and the Shareholders. On July 21, 2010, President Obama signed into law the Dodd-Frank Act. Section 619 of the Dodd-Frank Act and its implementing regulations (commonly known as the “ Volcker Rule ”) restrict the ability of a banking entity, such as most entities within the Crédit Agricole Group, from, among other things, acquiring or retaining any equity, partnership or other ownership interest in, or sponsoring (including serving as a commodity pool operator for), a “covered fund” (which term includes certain hedge funds and private equity funds).

The Volcker Rule excludes from the definition of covered fund some foreign public funds that meet certain conditions.

In order for a Sub-Fund to qualify as a foreign public fund, the following requirements must be satisfied:

1) the Sub-Fund must be organized or established outside of the United States (including any state, possession, or territory); 2) the ownership interests of the Sub-Fund are authorized to be offered and sold to retail investors in the Sub-Fund’s home jurisdiction; 3) the ownership interests of the Sub-Fund are sold predominately through one or more public offerings outside the United States (sold “predominately” outside the United States requires that, in the initial offering, 85% or more of the vehicle’s interests are sold to investors that are not residents of the United States);

4) if the Sub-Fund is effectively invested by retail investors, a. ETF must be quoted on an exchange b. Non-ETF must be effectively invested by retail with minimum investment amount less than 25 K-Euros; 5) the offering disclosure documents must be publicly available. 6) An additional condition is required for organized or located United States banking entities with respect to the foreign public fund they sponsor: the fund’s ownership interests are sold predominately to persons other than the sponsoring organized or located United States banking entity, the foreign public fund, affiliates of the sponsoring United States banking entity and the foreign public fund, and directors and employees of such entities.

The statutory effective date of the Volcker Rule is July 21, 2012 and a banking entity, subject to certain exceptions, was required to bring its activities and investments into compliance with the Volcker Rule by the end of the conformance period, on July 21, 2015. The U.S. Federal Reserve Board has granted two one-year extensions of the conformance period for "legacy covered funds" sponsored or acquired on or before December 31, 2013, extending the conformance period for such funds to July 21, 2017.

The Management Company and its Affiliated Entities provide no assurances to Shareholders regarding the treatment of the Sub-Funds under the Volcker Rule. Shareholders should seek legal advice regarding the implications of the Volcker Rule to the investors’ purchase of any Shares in the Sub-Funds.”

THE COMPANY – GENERAL INFORMATION

The Company has been incorporated on 29 March 2006 under Luxembourg laws as a " société d’investissement à capital variable " for an unlimited period of time with a constitutive capital of EUR 31,100. The Company is subject to Part I of the 2010 Law. Its registered office is established in Luxembourg.

The Articles of Incorporation have been deposited with the Registre de Commerce et des Sociétés of Luxembourg and shall be published in the Mémorial C Recueil des Sociétés et Associations (the " Mémorial" l") of 14 April 2006. The Company has been registered with the Registre de Commerce et des Sociétés of Luxembourg under number B 115 129.

The Articles of Incorporation may be amended from time to time by a general meeting of shareholders, subject to the quorum and majority requirements provided by the laws of Luxembourg.

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The Company is established as an umbrella fund and will issue Shares in different Classes in the different Sub-Funds. The Directors shall maintain for each Sub-Fund a separate portfolio.

Vis-à-vis third parties, the Company shall constitute one single legal entity, but by derogation from article 2093 of the Luxembourg Civil Code, the assets of a particular Sub-Fund are only applicable to the debts, engagements and obligations of that Sub-Fund. The assets, commitments, charges and expenses which cannot be allocated to one specific Sub-Fund will be charged to the different Sub-Funds proportionally to their respective net assets, and prorata temporis, if appropriate due to the amounts considered.

In relation between shareholders, each Sub Fund is treated as a separate legal entity.

For consolidation purposes, the base currency of the Company is the EURO.

MANAGEMENT AND ADMINISTRATION

The Board of Directors

The Board of Directors, whose members' names (the " Directors ") appear on the first pages of this Prospectus, is responsible for the information contained in this Prospectus. They have taken all reasonable care to ensure that at the date of this Prospectus, the information contained herein is accurate and complete in all material respects. The Board of Directors accepts responsibility accordingly.

Despite the delegation by the Company of the management and administration functions to the Management Company (as described in the next paragraph), the Board of Directors remains responsible for the Company’s management, control, administration and the determination of its overall investment objectives and policies.

There are no existing or proposed service contracts between any of the Directors and the Company, although the Directors are entitled to receive remuneration in accordance with usual market practice.

The Management Company

Pursuant to the 2010 Law, the Board of Directors has designated Amundi Luxembourg S.A. to act as its management company.

On 01 January 2024, Amundi Luxembourg S.A. has replaced Amundi Asset Management as Management Company under Chapter 15 of the 2010 Law.

The Management Company has been incorporated on 20 December 1996 for 99 (ninety nine) years. Its registered office is established in Luxembourg.

The Management Company is responsible for investment management, administrative services, marketing services and distribution services.

As of the date of the Prospectus, the Management Company also acts as management company for other investment funds. The names of these other funds are available upon request from the Management Company.

The Management Company has the option of delegating to third parties some or all of its responsibilities. For example, so long as it retains control and supervision, the Management Company can appoint one or more investment managers to handle the day-to-day management of the Sub-Fund’s assets, or one or more advisors to provide investment information, recommendations and research concerning prospective and existing investments.

The Management Company can also appoint various service providers, including those listed below, and can appoint distributors to market and distribute Sub-Fund’s Shares in any jurisdiction where the Shares are approved for sale.

The Management Company has designed and implemented a remuneration policy that is consistent with and promotes sound and effective risk management by having a business model that by its nature does not encourage excessive risk taking, such risk being inconsistent with the risk profile of the Sub-Funds.

The Management Company has identified those of its staff members whose professional activity has a material impact on the risk profiles of the Sub-Funds, and will ensure that these staff members comply with the remuneration policy.

The remuneration policy integrates governance, a pay structure that is balanced between fixed and variable components and risk and long-term performance alignment rules. These alignment rules are designed to be consistent with the interests of the Management Company, the Company and the shareholders, with respect to such considerations as business strategy, objectives, values and interest and includes measures to avoid conflicts of interests.

The Management Company ensures that the calculation of any performance-based remuneration is based on the applicable multi year performance figures of the Company and that the actual payment of such remuneration is spread over the same period.

The details of the current remuneration policy of the Management company, such as a description of how remuneration and benefits are calculated and the identity of the persons responsible for awarding the remuneration and benefits, are available on https://www.amundi.lu/retail/Local Content/Footer/Quick-Links/Regulatory-

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information/Amundi and a paper copy is available to investors free of charge upon request to the registered office of the Management Company.

The Voting Policy attached to the securities held by the Company and applied by the Management Company, as well as the report on conditions under which such voting rights have been exercising are available on the Management Company’s website: https://www.amundi.com section legal documentation.

Investors may contact the Management Company to question on the details of the exercise of voting rights on each resolution presented at the general meeting of a given issuer as soon as the consolidated holding of the Management Company represents more than the holding threshold set in the Voting Policy. Any absence of response from the Management Company may be interpreted, after a period of one month, as it has exercised its voting rights in accordance with the principles set out in the Voting Policy.

The Investment Manager

For each Sub-Fund, the Management Company may delegate its asset management functions to an Investment Manager. Unless otherwise disclosed in each Sub-Fund’s Appendix, the Management Company has delegated its asset management functions to Amundi Asset Management, with registered office at 91-93 Boulevard Pasteur 75730 Paris Cedex 15P.

The Investment Manager is entitled to receive as remuneration for its services a fee that is included in the Management Fee as specified in each Sub Fund’s Appendix.

For each Sub-Fund, the Investment Manager may delegate its duties, or part of it, to one or several Sub-Investment Managers, as defined in each Sub-Fund’s Appendix. If so, the identity of such Sub-Investment Manager(s) will be disclosed in each Sub-Fund’s Appendix.

The Distributor and Financial Intermediary Agent

The Management Company may delegate under its responsibility and control to one or several banks, financial institutions and other authorised Intermediaries as Distributors and financial intermediaries to offer and sell the Shares to investors and handle the subscription, redemption, conversion or transfer requests of shareholders. Subject to the law of the countries where Shares are offered, such Intermediaries may, with the agreement of the Board of Directors, and the Depositary, act as financial intermediaries for the investor.

In this capacity, the Intermediary shall apply for the subscription, conversion or redemption of Shares for the account of its client and request registration of such operations in the Sub-Fund’s Shares' register in the name of the Intermediary.

Notwithstanding the foregoing, a shareholder may invest directly in the Company without using the services of a financial intermediary. In that case, a Shareholder will only be able to fully exercise his investor rights directly against the Company (notably the right to participate in general meetings of Shareholders), if he is registered itself and in his own name in the Company’s register of shareholders. In cases where a Shareholder invests in the Company through a financial intermediary account, his rights to indemnification in the event of errors/non-compliance with the investment rules applicable to a Sub-Fund may also be impacted and only exercisable indirectly. If a Shareholder wants to retain all Shareholder rights, he may invest directly with the Company. Please note that in some jurisdictions, a financial intermediary account may be the only option available.

The agreement between the Company and any financial intermediary shall contain a provision that gives the shareholder the right to exercise its title to the Shares subscribed through the financial intermediary. The financial intermediary Agent will have no power to vote at any general meeting of shareholders, unless the shareholder grants it a power of attorney in writing his authority to do so.

An investor may ask at any time in writing that the Shares shall be registered in his name and in such case, upon delivery by the investor to the Registrar and Transfer Agent of the relevant confirmation letter of the financial intermediary, the Registrar and Transfer Agent shall enter the corresponding transfer and investors' name into the shareholder register and notify the financial intermediary Agent accordingly.

However, the aforesaid provisions are not applicable for shareholders who have acquired Shares in countries where the use of the services of a financial intermediary (or other Intermediary) is necessary or compulsory for legal, regulatory or compelling practical reasons.

In relation to any subscription, an Intermediary authorised to act as financial intermediary is deemed to represent to the Directors that:

a) the investor is a Qualified Holder;

b) it will notify the Board of Directors and the Registrar and Transfer Agent immediately if it learns that an investor is no longer a Qualified Holder;

c) in the event that it has discretionary authority with respect to Shares which become beneficially owned by any person who is not a Qualified Holder, the Intermediary will cause such Shares to be redeemed and;

d) it will not knowingly transfer or deliver any Shares or any part thereof or interest therein to any person who is not a Qualified Holder

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nor will any Shares be transferred to the United States.

The Board of Directors may, at any time, require Intermediaries who act as financial intermediaries to make additional representations to comply with any changes in applicable laws and regulations.

The list of financial intermediary Agents is available at the registered office of the Company.

The Depositary

Société Générale Luxembourg is the Company's depositary and paying agent (the “ Depositary” ).

The Depositary is a wholly-owned subsidiary of Société Générale, a Paris-based credit institution. The Depositary is a Luxembourg public limited company registered with the Luxembourg trade and companies register under number B 6061 and whose registered office is situated at 11, avenue Emile Reuter, L-2420 Luxembourg. Its operational center is located 2832, place de la Gare, L-1616 Luxembourg. It is a credit institution in the meaning of the law of 5 April 1993 relating to the financial sector, as amended.

The Depositary will assume its functions and duties in accordance with articles 33 to 37 of the 2010 Law and the Commission Delegated Regulation (EU) 2016/438 of 17 December 2015 supplementing the UCITS Directive (the “EU Level 2 Regulation”). The relationship between the Company, the Management Company and the Depositary is subject to the terms of a depositary and paying agent agreement entered into for an unlimited period of time (the “ Depositary and Paying Agent Agreement ”).

In accordance with the 2010 Law, and pursuant to the Depositary and Paying Agent Agreement, the Depositary carries out, inter alia , the safe keeping of the assets of the Company as well as the monitoring of the cash flows and the monitoring and oversight of certain tasks of the Company.

In addition, Société Générale Luxembourg will act as the Company's principal paying agent. In that capacity, Société Générale Luxembourg will have as its principal function the operation of procedures in connection with the payment of distributions and, as the case may be, redemption proceeds on the Shares.

The Depositary may delegate Safe-keeping Services (as defined in the Depositary and Paying Agent Agreement) to Safe-keeping Delegates (as defined in the Depositary and Paying Agent Agreement) under the conditions stipulated in the Depositary and Paying Agent Agreement and in accordance with article 34 bis of the 2010 Law and articles 13 to 17 of the EU Level 2 Regulation. A list of the Safe-keeping Delegates is available on https://www.securities

services.societegenerale.com/en/solution finder/global-custody/.

The Depositary is also authorized to delegate any other services under the Depositary and Paying Agent Agreement other than Oversight Services and Cash Monitoring Services (as defined in the Depositary and Paying Agent Agreement).

The Depositary is liable to the Company for the loss of Held In Custody Assets (as defined in the Depositary and Paying Agent Agreement and in accordance with article 18 of the EU Level 2 Regulation) by the Depositary or the Safe keeping Delegate. In such case, the Depositary shall be liable to return a Held In Custody Assets of an identical type or the corresponding amount to the Company without undue delay, unless the Depositary can prove that the loss arose as a result of an external event beyond its reasonable control, the consequences of which would have been unavoidable despite all reasonable efforts to the contrary.

In performing any of its other duties under the Depositary and Paying Agent Agreement, the Depositary shall act with all due skill, care and diligence that a leading professional Depositary for hire engaged in like activities would observe. The Depositary is liable to the Company for any other losses (other than loss of Held In Custody Assets described above) as a result of negligence, bad faith, fraud, or intentional failure on the part of the Depositary (and each of its directors, officers, servants or employees).

The liability of the Depositary as to Safe-keeping Services shall not be affected by any delegation as referred to in article 34bis of the 2010 Law or excluded or limited by agreement.

The Depositary and Paying Agent Agreement is entered into for an unlimited period. Each party to

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