{"annotation_id":"da78c595-d400-4274-84a2-085cf38c4347","file_hash":"49f76e09ba3099f67e21f62fead2c0070c0495677a7f381c8dbfb0ad311fc17d","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"30da7636-8de5-46d0-b339-769d402fe623","block_type":"box","text":"State Street Europe Value Spotlight","page_number":1,"box":{"x":51,"y":71,"width":617,"height":23}},{"id":"80975063-fe3b-40cf-a343-bc95e4580054","block_type":"box","text":"Fund - I","page_number":1,"box":{"x":52,"y":105,"width":123,"height":19}},{"id":"bb272491-9a1d-4b60-ab63-7a50daf7236c","block_type":"box","text":"Asset Class","page_number":1,"box":{"x":754,"y":46,"width":58,"height":6}},{"id":"2d12a648-469e-47ce-ae54-58d712940b6d","block_type":"box","text":"Equity","page_number":1,"box":{"x":754,"y":62,"width":34,"height":7}},{"id":"2c856098-e53e-4efe-a1a2-385038e4d304","block_type":"box","text":"Fund Identifier","page_number":1,"box":{"x":754,"y":92,"width":72,"height":6}},{"id":"1e4530cf-16dd-41c4-95b9-e6813f25584d","block_type":"box","text":"LU0892045930","page_number":1,"box":{"x":754,"y":107,"width":86,"height":6}},{"id":"473ea70d-34f9-47bc-b565-727fdf733991","block_type":"box","text":"As of 30 Sep 2026","page_number":1,"box":{"x":753,"y":138,"width":97,"height":7}},{"id":"2b738028-f1bf-4a6f-bae1-15d1cbd2b087","block_type":"box","text":"Climate Metrics","page_number":1,"box":{"x":51,"y":188,"width":225,"height":15}},{"id":"7b0f1d5a-d063-4fe6-b75e-c973768501e4","block_type":"box","text":"Source: State Street Investment Management, MSCI,Task Force on Climate-related Financial Disclosures. Holdings as of 30 Sep 2026, sustainability data as of 31 Aug 2026.","page_number":1,"box":{"x":50,"y":221,"width":852,"height":7}},{"id":"fc312cda-426c-4124-b200-a453f86ec875","block_type":"box","text":"See Glossary for detailed calculation notes such as missing data treatment, data lag and exclusions. The results are estimates based on assumptions and analysis made by State","page_number":1,"box":{"x":50,"y":235,"width":875,"height":7}},{"id":"6dcc92ed-47b4-4155-af1c-44067fc3b362","block_type":"box","text":"Street Investment Management. They are not intended to represent actual results of any offering.","page_number":1,"box":{"x":50,"y":245,"width":481,"height":8}},{"id":"a9cac780-1615-4461-a22e-229a74aa81d8","block_type":"box","text":"Actual results may differ.","page_number":1,"box":{"x":50,"y":259,"width":123,"height":7}},{"id":"3cbf2afa-8388-42e6-8088-341e552f6c85","block_type":"box","text":"Green Revenues","page_number":1,"box":{"x":50,"y":290,"width":123,"height":8}},{"id":"6c8ea673-f6b5-4c57-873b-cc4efe7a6844","block_type":"box","text":"Brown Revenues","page_number":1,"box":{"x":284,"y":290,"width":125,"height":8}},{"id":"df2c4b39-ef82-4d38-9448-17b4f8175f39","block_type":"box","text":"6.16%","page_number":1,"box":{"x":105,"y":315,"width":50,"height":8}},{"id":"d5a1be58-8dbd-483a-a214-37dd6ac804a2","block_type":"box","text":"4.21%","page_number":1,"box":{"x":338,"y":315,"width":51,"height":8}},{"id":"6dcf6419-7426-41e4-8c6a-7cb15e382f72","block_type":"box","text":"Portfolio Coverage","page_number":1,"box":{"x":51,"y":344,"width":93,"height":8}},{"id":"71562da1-6eb7-4b86-895d-8d57cc528e4e","block_type":"box","text":"100.00%","page_number":1,"box":{"x":175,"y":346,"width":53,"height":5}},{"id":"616117c9-8c46-4f2b-b4a8-fa9c217b4a14","block_type":"box","text":"Portfolio Coverage","page_number":1,"box":{"x":284,"y":344,"width":93,"height":8}},{"id":"8801c788-b557-4536-aa22-97790b6d874d","block_type":"box","text":"100.00%","page_number":1,"box":{"x":408,"y":346,"width":53,"height":5}},{"id":"a5b987ee-7919-443b-b3a8-bf8cd4148e38","block_type":"box","text":"Implied Temperature","page_number":1,"box":{"x":51,"y":387,"width":162,"height":10}},{"id":"9ce340b8-b2f1-407a-848b-71ed354be10f","block_type":"box","text":"Rise (°C)","page_number":1,"box":{"x":51,"y":401,"width":64,"height":10}},{"id":"c12542fc-a932-4d0a-bf8e-67b915a5f14c","block_type":"box","text":"Potential Emissions","page_number":1,"box":{"x":284,"y":387,"width":146,"height":8}},{"id":"597b579a-5278-4505-b585-5a4b2ac313ee","block_type":"box","text":"2.04","page_number":1,"box":{"x":105,"y":425,"width":39,"height":8}},{"id":"24ec614b-dd48-4015-a68f-330fd8527afc","block_type":"box","text":"0.82","page_number":1,"box":{"x":338,"y":425,"width":39,"height":8}},{"id":"c57447b2-b421-444c-9a97-8f919b3e5eb7","block_type":"box","text":"ktCO2-eq per $mn invested","page_number":1,"box":{"x":338,"y":441,"width":111,"height":7}},{"id":"ecbb0006-1f02-4baa-82bb-6e3c8be2003e","block_type":"box","text":"Portfolio Coverage","page_number":1,"box":{"x":51,"y":454,"width":93,"height":8}},{"id":"a6cd5781-cc01-466c-8898-32c705e75de4","block_type":"box","text":"100.00%","page_number":1,"box":{"x":175,"y":456,"width":53,"height":5}},{"id":"a2d816ab-b1be-4437-99a7-38a888ba5d08","block_type":"box","text":"Carbon Footprint","page_number":1,"box":{"x":50,"y":496,"width":133,"height":10}},{"id":"90721602-e3e0-4680-8f35-0e97dbad8324","block_type":"box","text":"(t CO2e/$M EVIC)","page_number":1,"box":{"x":184,"y":499,"width":76,"height":5}},{"id":"ab534c81-db75-46f1-8272-f43d44d715d8","block_type":"box","text":"Portfolio","page_number":1,"box":{"x":318,"y":515,"width":41,"height":6}},{"id":"28a47963-b9c9-437e-9c53-070083acbd46","block_type":"box","text":"Portfolio Coverage","page_number":1,"box":{"x":390,"y":515,"width":93,"height":7}},{"id":"dd92525c-1f92-4429-ac3c-d03bc9c3fbd2","block_type":"box","text":"Scope 1","page_number":1,"box":{"x":50,"y":529,"width":37,"height":7}},{"id":"b01f4ee4-8b82-42c8-ab2d-6fb5f1125b40","block_type":"box","text":"31.56","page_number":1,"box":{"x":322,"y":530,"width":37,"height":6}},{"id":"1023f988-3db0-4bb3-923c-7638e7a1811c","block_type":"box","text":"100.00%","page_number":1,"box":{"x":430,"y":530,"width":53,"height":6}},{"id":"ea759e7f-eac7-4095-b925-cef871f92885","block_type":"box","text":"Scope 2","page_number":1,"box":{"x":50,"y":545,"width":41,"height":8}},{"id":"a2d9ceda-63e5-4b29-a956-8e33d18e9971","block_type":"box","text":"7.25","page_number":1,"box":{"x":330,"y":547,"width":29,"height":5}},{"id":"4a876927-5fad-4623-81c9-f63284c69361","block_type":"box","text":"100.00%","page_number":1,"box":{"x":430,"y":547,"width":53,"height":5}},{"id":"fe8456c0-fb37-47a4-ba15-bcc6b04fa73d","block_type":"box","text":"Scope 3","page_number":1,"box":{"x":50,"y":562,"width":41,"height":7}},{"id":"07f4e9de-3362-489c-878c-6819b84d9190","block_type":"box","text":"596.05","page_number":1,"box":{"x":314,"y":563,"width":45,"height":6}},{"id":"142f2b7b-76e0-40ea-b20d-b28b3278550e","block_type":"box","text":"100.00%","page_number":1,"box":{"x":430,"y":563,"width":53,"height":6}},{"id":"86b39891-7b5d-45bf-9012-a2d49fdff96b","block_type":"box","text":"Scope 1+2","page_number":1,"box":{"x":50,"y":579,"width":52,"height":7}},{"id":"f1d5bf0a-272c-4df4-9fce-42c4309947a8","block_type":"box","text":"38.81","page_number":1,"box":{"x":322,"y":580,"width":37,"height":6}},{"id":"8f3f9943-2dd9-419c-8b3a-566d5aebe2d8","block_type":"box","text":"100.00%","page_number":1,"box":{"x":430,"y":580,"width":53,"height":6}},{"id":"e6d62ffd-b95d-4755-9836-96b957593f60","block_type":"box","text":"Scope 1+2+3","page_number":1,"box":{"x":50,"y":595,"width":66,"height":8}},{"id":"43e66d3e-eeba-4c0c-9242-33a2ba9e9067","block_type":"box","text":"644.69","page_number":1,"box":{"x":314,"y":597,"width":45,"height":5}},{"id":"9964bf7f-8427-4a11-9b30-483a9a0c2fe6","block_type":"box","text":"100.00%","page_number":1,"box":{"x":430,"y":597,"width":53,"height":5}},{"id":"74bd9dd6-e78e-4ad5-8a05-0d5f9c22fdeb","block_type":"box","text":"Total Carbon Emissions","page_number":1,"box":{"x":516,"y":291,"width":177,"height":8}},{"id":"bb307704-c3df-48e7-8ec8-e03741e8399b","block_type":"box","text":"Portfolio","page_number":1,"box":{"x":799,"y":315,"width":42,"height":6}},{"id":"6708e322-1da1-4770-ad0b-fe0ee64eda67","block_type":"box","text":"Portfolio Coverage","page_number":1,"box":{"x":855,"y":315,"width":93,"height":7}},{"id":"d58b715c-1cad-4e82-a2d7-6377559ced46","block_type":"box","text":"Scope 1","page_number":1,"box":{"x":516,"y":329,"width":37,"height":7}},{"id":"ade94ca0-1f44-419a-bb6a-7f4021e395d9","block_type":"box","text":"1,320.17","page_number":1,"box":{"x":780,"y":330,"width":60,"height":7}},{"id":"4837bdca-8b2b-4048-933e-bd1b564ca87c","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":330,"width":52,"height":6}},{"id":"f1434e08-dd87-4db3-9692-332050cf714a","block_type":"box","text":"Scope 2","page_number":1,"box":{"x":516,"y":346,"width":40,"height":7}},{"id":"0aa9d151-a07d-478d-a4d3-1482a408a8c9","block_type":"box","text":"303.29","page_number":1,"box":{"x":795,"y":347,"width":45,"height":6}},{"id":"64e7d062-a5c6-4071-854a-ccde978e8167","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":347,"width":52,"height":6}},{"id":"a7d8fdc0-fdc0-4f0d-b264-a7b55a523784","block_type":"box","text":"Scope 3","page_number":1,"box":{"x":516,"y":362,"width":40,"height":7}},{"id":"f91d1cce-ad63-45ed-839c-641dd82ef2e0","block_type":"box","text":"24,934.08","page_number":1,"box":{"x":772,"y":363,"width":69,"height":8}},{"id":"dc119e2e-69fd-4417-b220-2cb568df6285","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":363,"width":52,"height":6}},{"id":"ecbc4051-db1a-495b-9b97-c07cfbf0f0a2","block_type":"box","text":"Scope 1+2","page_number":1,"box":{"x":516,"y":379,"width":51,"height":7}},{"id":"3ccce30e-8f93-456a-92cf-243712618f73","block_type":"box","text":"1,623.47","page_number":1,"box":{"x":780,"y":380,"width":60,"height":7}},{"id":"f21a8d5f-7f83-457e-a972-21b2361d7ac1","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":380,"width":52,"height":6}},{"id":"4e1dc9ef-6039-4e93-8fec-0a62955894b0","block_type":"box","text":"Weighted Average Carbon Intensity","page_number":1,"box":{"x":515,"y":422,"width":271,"height":10}},{"id":"1e147428-a323-4a63-bb71-829e9505bbd8","block_type":"box","text":"(t CO2e/$M Sales)","page_number":1,"box":{"x":787,"y":425,"width":77,"height":6}},{"id":"23db9833-15c3-41d1-b258-c8b9e5f27932","block_type":"box","text":"Portfolio","page_number":1,"box":{"x":799,"y":446,"width":42,"height":6}},{"id":"e25d5a5e-9180-4d8e-a5d8-b4684cc92811","block_type":"box","text":"Portfolio Coverage","page_number":1,"box":{"x":855,"y":446,"width":93,"height":7}},{"id":"a8003868-bae4-4abb-91f7-9e2b31b12b7d","block_type":"box","text":"Scope 1","page_number":1,"box":{"x":516,"y":460,"width":37,"height":7}},{"id":"4cef6497-cf70-4bc3-8ab0-91fd346fe8d2","block_type":"box","text":"54.97","page_number":1,"box":{"x":803,"y":461,"width":37,"height":6}},{"id":"769ecfe2-ed88-4a05-b74d-25bc6b99c678","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":461,"width":52,"height":6}},{"id":"66c02449-581a-422a-a498-6945c8799c9c","block_type":"box","text":"Scope 2","page_number":1,"box":{"x":516,"y":477,"width":40,"height":7}},{"id":"6212bcd9-7cd5-4378-8bdf-5f61328e03e0","block_type":"box","text":"12.46","page_number":1,"box":{"x":803,"y":478,"width":38,"height":6}},{"id":"674d6c41-fb10-4f86-b648-ac242bcb1b5a","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":478,"width":52,"height":6}},{"id":"5e0b9fd6-3a86-423f-a9e6-0ede49c8c07e","block_type":"box","text":"Scope 3","page_number":1,"box":{"x":516,"y":493,"width":40,"height":8}},{"id":"aeff2fd1-e2b8-41d5-beb2-ad716b8aa5c5","block_type":"box","text":"929.56","page_number":1,"box":{"x":795,"y":495,"width":46,"height":5}},{"id":"b3592a40-3725-4fd1-94e1-66db03d11868","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":495,"width":52,"height":5}},{"id":"0e63ca82-d461-49b2-ac60-fc4e6d6f2129","block_type":"box","text":"Scope 1+2","page_number":1,"box":{"x":516,"y":510,"width":51,"height":7}},{"id":"e45221e5-4313-4f57-9dd7-50732277e2ae","block_type":"box","text":"67.43","page_number":1,"box":{"x":803,"y":511,"width":37,"height":6}},{"id":"9fa82e7d-6b3a-476a-839a-a1d74cce1a20","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":511,"width":52,"height":6}},{"id":"5894fe52-509c-44ba-bfae-e396ec245bc1","block_type":"box","text":"Scope 1+2+3","page_number":1,"box":{"x":516,"y":527,"width":66,"height":7}},{"id":"ae15ecb6-4faf-4998-9248-8bdde89ca925","block_type":"box","text":"1,001.93","page_number":1,"box":{"x":780,"y":528,"width":60,"height":7}},{"id":"546083d0-99cd-47d7-981d-b924d6c96caf","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":528,"width":52,"height":6}},{"id":"1270cfee-d873-491c-b2b5-9c31f03b59a0","block_type":"box","text":"Climate Value at Risk","page_number":1,"box":{"x":516,"y":569,"width":189,"height":10}},{"id":"e6c6194a-ed4f-49c0-ad1e-364ccda78a2a","block_type":"box","text":"Policy Risk VaR","page_number":1,"box":{"x":516,"y":595,"width":82,"height":7}},{"id":"3ff908ba-e6f6-448c-ae80-e32ead15b39d","block_type":"box","text":"Portfolio","page_number":1,"box":{"x":799,"y":595,"width":42,"height":5}},{"id":"bb7a9815-02d3-4c43-bf71-151a3a9dcab4","block_type":"box","text":"Portfolio Coverage","page_number":1,"box":{"x":855,"y":595,"width":93,"height":7}},{"id":"70159ea1-a808-4f48-b3c1-4ea77bc9aa28","block_type":"box","text":"Orderly Transition (1.5 °C)","page_number":1,"box":{"x":516,"y":609,"width":127,"height":7}},{"id":"b970fd76-d2a8-4049-84e2-ec964acaf9a7","block_type":"box","text":"-17.67%","page_number":1,"box":{"x":789,"y":610,"width":52,"height":6}},{"id":"7d1e83f2-804e-4645-8809-68755eb76a4a","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":610,"width":52,"height":6}},{"id":"d2c9c9a7-76af-4b3c-a05b-498bf4eafca5","block_type":"box","text":"Technology Opportunities VaR","page_number":1,"box":{"x":516,"y":625,"width":164,"height":7}},{"id":"7c812229-000d-45f1-8262-b25c3e462b07","block_type":"box","text":"Orderly Transition (1.5 °C)","page_number":1,"box":{"x":516,"y":642,"width":127,"height":7}},{"id":"d77391ad-ec85-4533-81c2-89f3c8b0c773","block_type":"box","text":"2.84%","page_number":1,"box":{"x":803,"y":643,"width":38,"height":6}},{"id":"a26cb658-2d8a-4737-9da0-1be27a3fee9f","block_type":"box","text":"94.06%","page_number":1,"box":{"x":903,"y":643,"width":45,"height":6}},{"id":"fcfa05c5-e243-42fa-b29c-4c8dd50c6eca","block_type":"box","text":"Physical Risk VaR","page_number":1,"box":{"x":516,"y":659,"width":95,"height":7}},{"id":"64c83c17-995c-4023-bebb-9d115f2a9ae9","block_type":"box","text":"Orderly Transition (1.5 °C)","page_number":1,"box":{"x":516,"y":675,"width":127,"height":7}},{"id":"6aca2fe4-6302-4bca-bc55-909d72136033","block_type":"box","text":"-0.35%","page_number":1,"box":{"x":797,"y":676,"width":44,"height":6}},{"id":"efe812bb-d00a-41f1-99e0-617e3f5ae5cc","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":676,"width":52,"height":6}},{"id":"7e864808-9ce2-4c56-b238-40436d8b62fb","block_type":"box","text":"Hothouse (3 °C)","page_number":1,"box":{"x":516,"y":692,"width":79,"height":6}},{"id":"43b39c86-d0c4-44ec-bb47-cb4517dcc495","block_type":"box","text":"-1.35%","page_number":1,"box":{"x":797,"y":693,"width":44,"height":6}},{"id":"9092dfe9-43f1-4689-b234-1ecd44eb9dd6","block_type":"box","text":"100.00%","page_number":1,"box":{"x":896,"y":693,"width":52,"height":6}},{"id":"9ade8a85-ae9e-454e-bfd0-ff12d43b125b","block_type":"box","text":"Report ID: 5648850.1","page_number":1,"box":{"x":362,"y":968,"width":117,"height":9}},{"id":"780d12af-cb26-4119-a94b-ad6ee00acb17","block_type":"box","text":"Published: 13 Oct 2026","page_number":1,"box":{"x":496,"y":968,"width":128,"height":7}},{"id":"8b54b99d-df09-49f3-addf-b4c76834dc8e","block_type":"box","text":"P","page_number":1,"box":{"x":902,"y":968,"width":5,"height":6}},{"id":"8bc9000f-e65c-436e-878d-ad86710c9409","block_type":"box","text":"a","page_number":1,"box":{"x":908,"y":970,"width":5,"height":4}},{"id":"c9b1e50b-9e3b-4e96-88c5-4bb1d8bf9ddf","block_type":"box","text":"g","page_number":1,"box":{"x":913,"y":970,"width":6,"height":5}},{"id":"120dbea6-4a35-46a2-9c1a-b43dc6fc551c","block_type":"box","text":"e","page_number":1,"box":{"x":919,"y":970,"width":5,"height":4}},{"id":"b1a7500c-9e35-40a2-bc6e-28afb03a326d","block_type":"box","text":"1","page_number":1,"box":{"x":926,"y":968,"width":3,"height":6}},{"id":"2aa9f738-9eec-4d13-9e08-79f778635469","block_type":"box","text":"of","page_number":1,"box":{"x":932,"y":968,"width":10,"height":6}},{"id":"b7003bf8-a2b6-4fc8-ae4b-05e6dcefa5fe","block_type":"box","text":"4","page_number":1,"box":{"x":943,"y":968,"width":7,"height":6}},{"id":"b31765cd-8363-4f1f-b1fe-2e6b99295ee7","block_type":"box","text":"Glossary","page_number":2,"box":{"x":51,"y":59,"width":129,"height":19}},{"id":"a2690dc3-bbbb-4b1d-b13d-ca47c3712a0e","block_type":"box","text":"Sustainability data is as of the date identified in the report sections","page_number":2,"box":{"x":51,"y":95,"width":393,"height":8}},{"id":"40806606-5e65-4148-b398-dc1632d4d932","block_type":"box","text":"above, usually on a month lag. All metrics are reported in USD unless","page_number":2,"box":{"x":51,"y":107,"width":405,"height":9}},{"id":"d005a0e4-ccb4-435a-8116-0dac49fa695d","block_type":"box","text":"otherwise stated.","page_number":2,"box":{"x":51,"y":120,"width":102,"height":7}},{"id":"f6656d4a-07b8-47ba-afa6-df9834fc1719","block_type":"box","text":"Climate Metrics","page_number":2,"box":{"x":51,"y":152,"width":157,"height":11}},{"id":"437a47e6-8907-4970-97d6-4496c5d1a93b","block_type":"box","text":"Data Treatments","page_number":2,"box":{"x":51,"y":173,"width":108,"height":7}},{"id":"6538c10a-a872-4876-9bd1-178c203c8a3f","block_type":"box","text":"- State Street applies the data treatments where","page_number":2,"box":{"x":163,"y":173,"width":286,"height":9}},{"id":"3f60baa7-a1d3-43d7-8220-249eaed30b7f","block_type":"box","text":"applicable to Climate Metrics. To review the data treatments and the","page_number":2,"box":{"x":51,"y":186,"width":408,"height":9}},{"id":"1b3a03f5-9dd2-4254-81cf-48b248bd2776","block_type":"box","text":"metrics they are applied to please","page_number":2,"box":{"x":51,"y":199,"width":201,"height":9}},{"id":"95130c3a-cdfe-4ef8-a17d-3899a198a68b","block_type":"box","text":"click","page_number":2,"box":{"x":255,"y":199,"width":28,"height":7}},{"id":"e56a4892-cf9d-4312-b5b0-97fffa6b6774","block_type":"box","text":"here","page_number":2,"box":{"x":286,"y":199,"width":26,"height":7}},{"id":"a3de4ac3-000c-4295-820d-80c9035ef3b9","block_type":"box","text":".","page_number":2,"box":{"x":313,"y":205,"width":2,"height":1}},{"id":"8979cc15-4d9c-49a7-b995-97139827ac00","block_type":"box","text":"Portfolio Coverage","page_number":2,"box":{"x":51,"y":217,"width":119,"height":8}},{"id":"23b74eb1-17b8-4a8e-b11b-e3a1489fa254","block_type":"box","text":"is dependent upon the universe covered by SSGA’s","page_number":2,"box":{"x":174,"y":217,"width":303,"height":8}},{"id":"fa2ded53-c0ec-4329-9bb1-88664a0b0988","block_type":"box","text":"external providers. For certain markets and types of companies, there","page_number":2,"box":{"x":51,"y":229,"width":413,"height":9}},{"id":"fc7348c9-c7c8-409b-b33a-85b7345ae328","block_type":"box","text":"may be significant limitations in the availability of data, or in some cases,","page_number":2,"box":{"x":51,"y":242,"width":425,"height":9}},{"id":"de39ad28-14b4-4f9b-8b43-b1542d088208","block_type":"box","text":"no data may be available at all. In such instances, the benchmark index","page_number":2,"box":{"x":51,"y":255,"width":418,"height":9}},{"id":"440aa134-7f38-4268-9190-7fc088ef120c","block_type":"box","text":"provider, investment manager, an affiliate of the investment manager or","page_number":2,"box":{"x":51,"y":268,"width":422,"height":9}},{"id":"f8b602e9-8279-4f36-b47b-1b8a7c8be9a3","block_type":"box","text":"another party may use data from a related entity as a proxy or generate","page_number":2,"box":{"x":51,"y":281,"width":422,"height":8}},{"id":"fc5d7853-a69c-4cd0-9160-13dba25ff25b","block_type":"box","text":"estimated data to fill these gaps.","page_number":2,"box":{"x":51,"y":293,"width":191,"height":9}},{"id":"c7012933-c9d8-4fe2-a77e-d04e79b7e23e","block_type":"box","text":"Green Revenues – MSCI:","page_number":2,"box":{"x":51,"y":311,"width":156,"height":7}},{"id":"fbfb2695-703b-409d-b6f6-3f1c3e7e8874","block_type":"box","text":"Weighted Average of each Underlying","page_number":2,"box":{"x":210,"y":311,"width":224,"height":9}},{"id":"c95644d5-8f19-4e96-b747-269b1ed638b8","block_type":"box","text":"Security with Green Revenue for the portfolio level.","page_number":2,"box":{"x":51,"y":324,"width":301,"height":9}},{"id":"641dd72e-0fe3-4e22-a77e-bbbd82f002c5","block_type":"box","text":"Brown Revenues:","page_number":2,"box":{"x":51,"y":342,"width":110,"height":6}},{"id":"78568f42-f8b9-4b77-89ab-3ca9e1592cfe","block_type":"box","text":"Percentage of revenue from “brown” sectors and","page_number":2,"box":{"x":165,"y":341,"width":287,"height":9}},{"id":"a6960d56-21e8-457f-ae14-e814efca6b3f","block_type":"box","text":"activities, including fossil fuel extractions, mining, operations, and power","page_number":2,"box":{"x":51,"y":354,"width":425,"height":9}},{"id":"e4b066dd-d68e-469c-93a0-f52f99f19dcc","block_type":"box","text":"generation, employing MSCI revenue indicators. Brown revenue (%) is","page_number":2,"box":{"x":51,"y":367,"width":411,"height":9}},{"id":"6ca8d5c0-9af5-4536-934a-bd5151832e42","block_type":"box","text":"defined as the proportion of revenues a company derives from activities","page_number":2,"box":{"x":51,"y":380,"width":426,"height":9}},{"id":"1f2a7f42-1579-4cff-8f9e-5f96d87b361b","block_type":"box","text":"related to the extraction of fossil fuels, or power generation using fossil","page_number":2,"box":{"x":51,"y":393,"width":415,"height":9}},{"id":"d0c7429d-ccba-4e67-8554-565a8e4a9489","block_type":"box","text":"fuel-based energy sources. It reflects firms tied to conventional energy","page_number":2,"box":{"x":50,"y":406,"width":419,"height":8}},{"id":"3414b46b-d427-4b12-be6d-7fbf72f89d1f","block_type":"box","text":"value chains.","page_number":2,"box":{"x":50,"y":419,"width":76,"height":6}},{"id":"a0eab0b0-7c25-4197-beaa-f40e6bc50a4d","block_type":"box","text":"Brown Revenues – MSCI:","page_number":2,"box":{"x":51,"y":436,"width":158,"height":7}},{"id":"9897c2a3-5477-4f94-8c96-5d21b99fdb24","block_type":"box","text":"Weighted Average of each Underlying","page_number":2,"box":{"x":212,"y":436,"width":225,"height":9}},{"id":"d3f0b3f6-9327-43ec-814b-f81e9e476f41","block_type":"box","text":"Security with Brown Revenue for the portfolio level.","page_number":2,"box":{"x":51,"y":449,"width":302,"height":8}},{"id":"6160e996-7460-43a2-92c1-2ae21f275c4a","block_type":"box","text":"Potential Emissions – MSCI:","page_number":2,"box":{"x":51,"y":466,"width":176,"height":7}},{"id":"193a28cd-cd44-4d15-b10d-42e8d099f538","block_type":"box","text":"Sum of Weighted Average Total Potential","page_number":2,"box":{"x":230,"y":466,"width":243,"height":9}},{"id":"615a7057-c964-4b79-838c-5ba1b94a184d","block_type":"box","text":"Emission of Fossil Fuel Reserves Normalized by EVIC $MN (ktCO2-eq","page_number":2,"box":{"x":51,"y":478,"width":413,"height":10}},{"id":"42a4f14c-07de-4855-9a5f-ee44d96ee08f","block_type":"box","text":"per $MN invested) on the Portfolio Level.","page_number":2,"box":{"x":51,"y":491,"width":241,"height":10}},{"id":"9b5a8e8d-c6ee-46cf-8f9e-df39f51096d2","block_type":"box","text":"Carbon Footprint(t CO2e/$M EVIC):","page_number":2,"box":{"x":51,"y":509,"width":229,"height":9}},{"id":"43f7c46d-88c3-40cc-aee7-4ab84f2223f9","block_type":"box","text":"Scope 1+2+3- MSCI*:","page_number":2,"box":{"x":91,"y":527,"width":133,"height":9}},{"id":"3c30f1d2-410a-4301-b5a6-013350c820f5","block_type":"box","text":"Weighted average Scope 1, Scope 2 and","page_number":2,"box":{"x":228,"y":527,"width":236,"height":9}},{"id":"191035b3-9bb6-4364-89ac-be27a8dd27eb","block_type":"box","text":"Scope 3 carbon emissions intensity normalized by enterprise","page_number":2,"box":{"x":91,"y":540,"width":362,"height":9}},{"id":"fe23fc2a-0a6a-42a1-b048-acf7385b4441","block_type":"box","text":"value including cash.","page_number":2,"box":{"x":91,"y":553,"width":122,"height":9}},{"id":"45a19bfb-452c-4ee6-9d9c-c13b4c15f127","block_type":"box","text":"Total Carbon Emissions – MSCI:","page_number":2,"box":{"x":51,"y":570,"width":202,"height":7}},{"id":"f7057063-6386-497e-9269-b00a52171e05","block_type":"box","text":"Total Carbon Emissions measures","page_number":2,"box":{"x":256,"y":570,"width":203,"height":7}},{"id":"9bbe2dba-5a79-42d2-bd2f-db6dc9c8c69e","block_type":"box","text":"the absolute tons of CO2e EVIC for which an investor is responsible. It is","page_number":2,"box":{"x":50,"y":583,"width":426,"height":9}},{"id":"b52339a5-a9ec-4a95-a018-40bb181ceac3","block_type":"box","text":"apportioned to the investor based on an equity ownership perspective,","page_number":2,"box":{"x":51,"y":596,"width":418,"height":9}},{"id":"738b3e93-6986-4c79-9514-2814897292a1","block_type":"box","text":"and can be explained with a simple example: If an investor’s position in a","page_number":2,"box":{"x":51,"y":609,"width":425,"height":9}},{"id":"af3499b6-6009-4538-a3da-46ece7dfcc83","block_type":"box","text":"company is equal to 1% of the company’s total market capitalization, then","page_number":2,"box":{"x":51,"y":622,"width":432,"height":8}},{"id":"c0755543-4370-4f8c-b937-16fd5b81517d","block_type":"box","text":"the investor owns 1% of the company, and is consequently responsible","page_number":2,"box":{"x":50,"y":635,"width":415,"height":8}},{"id":"739712de-0d8b-4993-bbe8-932bacad4c26","block_type":"box","text":"for 1% of the company’s carbon emissions (tons CO2e). Calculating the","page_number":2,"box":{"x":50,"y":647,"width":419,"height":9}},{"id":"940684f4-952c-4528-951f-4a70ffc7f635","block_type":"box","text":"“owned” emissions from each position in the portfolio and summing","page_number":2,"box":{"x":51,"y":660,"width":398,"height":9}},{"id":"65bb5bae-6f56-44be-abb7-dc59a18151cc","block_type":"box","text":"those emissions yields the total carbon emissions for the portfolio level.","page_number":2,"box":{"x":50,"y":673,"width":422,"height":9}},{"id":"460af032-9677-4fee-8d81-41dbb2289a35","block_type":"box","text":"Scope 1","page_number":2,"box":{"x":556,"y":95,"width":47,"height":8}},{"id":"2e8032f1-e0c3-4266-b7c4-03a23a5acbaf","block_type":"box","text":"emissions are “direct emissions” from sources that are","page_number":2,"box":{"x":607,"y":95,"width":322,"height":7}},{"id":"81e6a428-a5cd-44b7-9dbd-95f0cffcb24a","block_type":"box","text":"owned or controlled by the company.","page_number":2,"box":{"x":556,"y":108,"width":219,"height":8}},{"id":"c799ec0d-317c-4ad6-831b-49ba5de3e3ea","block_type":"box","text":"Scope 2","page_number":2,"box":{"x":556,"y":125,"width":51,"height":9}},{"id":"3b32f049-4e41-43a3-958f-5fbbd3312343","block_type":"box","text":"emissions are the indirect emissions released into the","page_number":2,"box":{"x":610,"y":125,"width":317,"height":7}},{"id":"83cb18d8-efd9-4a6f-a9be-02faa7fdbfaf","block_type":"box","text":"atmosphere from the use of purchased energy such as electricity,","page_number":2,"box":{"x":556,"y":138,"width":388,"height":9}},{"id":"d9536e83-3a6c-459f-96a0-52afdb37cd01","block_type":"box","text":"heat or steam. These are called “indirect emissions” because the","page_number":2,"box":{"x":556,"y":151,"width":383,"height":7}},{"id":"6ec975de-686f-4889-84c2-db2438747690","block_type":"box","text":"actual emissions are generated at another facility such as a power","page_number":2,"box":{"x":556,"y":164,"width":391,"height":8}},{"id":"9cbaf029-6d72-4747-8340-48e73e771069","block_type":"box","text":"station.","page_number":2,"box":{"x":556,"y":176,"width":43,"height":7}},{"id":"16701ea1-127d-4062-8179-8fe8d65ffe69","block_type":"box","text":"Scope 3","page_number":2,"box":{"x":556,"y":194,"width":51,"height":9}},{"id":"4170055b-434f-4631-bda5-08fcfce6131a","block_type":"box","text":"emissions include all other indirect emissions that occur","page_number":2,"box":{"x":610,"y":194,"width":332,"height":7}},{"id":"2738e709-a29c-4a40-840d-bee7dc8e918a","block_type":"box","text":"across the value chain and are outside of the organization’s direct","page_number":2,"box":{"x":556,"y":207,"width":386,"height":9}},{"id":"5313eab7-73c1-476c-afdf-3f58e6403ff0","block_type":"box","text":"control.","page_number":2,"box":{"x":556,"y":220,"width":44,"height":7}},{"id":"4ef8e04b-3c29-43d8-afaa-4292df6a00e4","block_type":"box","text":"Weighted Average Carbon Intensity - MSCI: Scope 1+2+3 -","page_number":2,"box":{"x":515,"y":237,"width":370,"height":9}},{"id":"91cf69e8-222f-4a09-9987-43e6618b4319","block_type":"box","text":"Calculating a portfolio’s Weighted Average Carbon Intensity is achieved","page_number":2,"box":{"x":516,"y":250,"width":422,"height":9}},{"id":"f182a42e-f6b5-45e0-af7e-fe24f2b5e426","block_type":"box","text":"by calculating the carbon intensity (Scope 1 + 2 + 3 Emissions / $M","page_number":2,"box":{"x":516,"y":262,"width":394,"height":10}},{"id":"23c8ac1a-58ff-4527-9ba0-bd10d2f50b13","block_type":"box","text":"Sales) for each portfolio company and calculating the weighted average","page_number":2,"box":{"x":515,"y":275,"width":426,"height":9}},{"id":"aa99305f-3dee-446e-88eb-8b2f691a1c59","block_type":"box","text":"by portfolio weight.","page_number":2,"box":{"x":516,"y":288,"width":112,"height":9}},{"id":"4524b0fc-09f3-43e1-9852-5e563cf9a0a6","block_type":"box","text":"Please note that the scope 1+2 and scope 1+2+3 values for Total Carbon","page_number":2,"box":{"x":516,"y":306,"width":428,"height":9}},{"id":"8ac364ab-f0e0-4870-8a1b-ae58f89ffafc","block_type":"box","text":"Emissions, Carbon Footprint, and Weighted Average Carbon Intensity","page_number":2,"box":{"x":516,"y":319,"width":412,"height":9}},{"id":"bf62fd5d-6386-4420-b6b1-87a134134645","block_type":"box","text":"may not equal the sum of the individual values.","page_number":2,"box":{"x":516,"y":332,"width":274,"height":8}},{"id":"0b398064-d4d3-44d3-b544-7692a053f194","block_type":"box","text":"This may occur for a","page_number":2,"box":{"x":796,"y":332,"width":122,"height":8}},{"id":"740ccacb-7735-418d-bda3-96037ed588e4","block_type":"box","text":"few reasons.","page_number":2,"box":{"x":515,"y":345,"width":74,"height":7}},{"id":"2d10fae9-a82a-4418-87c8-06a7d88fb8a7","block_type":"box","text":"Each metric is a distinct data element provided by the","page_number":2,"box":{"x":596,"y":345,"width":318,"height":8}},{"id":"202ac166-b838-43af-b5c6-f138efb5cbaa","block_type":"box","text":"vendor.","page_number":2,"box":{"x":515,"y":357,"width":44,"height":7}},{"id":"3bfeb66a-9cf4-482c-88d3-4125055fe519","block_type":"box","text":"Data treatments for replacing null data with sub-industry","page_number":2,"box":{"x":568,"y":357,"width":335,"height":9}},{"id":"b1290d0c-5daf-4336-99ae-03381049e69c","block_type":"box","text":"median data could cause differences in aggregated results.","page_number":2,"box":{"x":516,"y":370,"width":349,"height":9}},{"id":"94b431a6-d400-4778-a149-81b0f8bfccc9","block_type":"box","text":"Data is","page_number":2,"box":{"x":872,"y":370,"width":40,"height":7}},{"id":"10bb5ec7-56d7-4c9f-add5-b5a14d6292c0","block_type":"box","text":"reported based on the most recent common fiscal year end, which may","page_number":2,"box":{"x":516,"y":383,"width":422,"height":9}},{"id":"fb4f5a3a-6fb9-4afa-ba8d-7089427af9ce","block_type":"box","text":"vary for aggregated fields and is more likely with scope 3.","page_number":2,"box":{"x":515,"y":396,"width":337,"height":9}},{"id":"d62ea711-9bd4-45d3-b549-c75b95aff69f","block_type":"box","text":"Implied Temperature Rise (°C) – MSCI:","page_number":2,"box":{"x":516,"y":413,"width":244,"height":9}},{"id":"ac4e73b1-85f7-4a70-ae16-1b6d6ba0e492","block_type":"box","text":"The climate scenario","page_number":2,"box":{"x":763,"y":414,"width":125,"height":6}},{"id":"5100a7c7-6df6-4f71-8185-9cbcc2ca6245","block_type":"box","text":"alignment uses MSCI’s Implied Temperature Rise (ITR) model, Which","page_number":2,"box":{"x":516,"y":426,"width":405,"height":9}},{"id":"277d803a-b7bd-452b-b2c8-20cfd9c012f3","block_type":"box","text":"is a forward-looking temperature alignment metric for companies and","page_number":2,"box":{"x":516,"y":439,"width":412,"height":9}},{"id":"b676f4d8-5904-4d8c-9fdb-9ddd9acc1cfd","block_type":"box","text":"portfolios. Specifically, the MSCI ITR methodology evaluates whether a","page_number":2,"box":{"x":516,"y":452,"width":419,"height":9}},{"id":"18bf7f91-72b1-4740-9a0b-f0e182dbc0dd","block_type":"box","text":"company or portfolio are aligned with the Paris Agreement temperature","page_number":2,"box":{"x":516,"y":465,"width":424,"height":9}},{"id":"48f49a53-5025-4923-a2cb-616c40af21a8","block_type":"box","text":"goals – in particular, the maximal goal of limiting global mean surface","page_number":2,"box":{"x":515,"y":478,"width":406,"height":8}},{"id":"5f92a62f-7340-439f-89d6-bfc2fea553c0","block_type":"box","text":"temperature to an increase of no more than 1.5°C in the year 2100","page_number":2,"box":{"x":515,"y":490,"width":388,"height":9}},{"id":"ac209aeb-948e-4f44-9310-467a8c2f1703","block_type":"box","text":"compared with preindustrial levels. For example, an ITR of 2.5°C assigned","page_number":2,"box":{"x":516,"y":503,"width":433,"height":9}},{"id":"57d273d9-b0ba-454b-890c-8299fb944767","block_type":"box","text":"to a given portfolio would indicate that the portfolio is exceeding its fair","page_number":2,"box":{"x":515,"y":516,"width":418,"height":9}},{"id":"292b924b-fc77-4b9b-b759-f64133642bab","block_type":"box","text":"share of the global carbon budget, and that if everyone exceeded their","page_number":2,"box":{"x":515,"y":529,"width":417,"height":9}},{"id":"7248d522-fafe-4abc-90a0-a89a7588871e","block_type":"box","text":"fair shares by a similar proportion, by 2100 we would end up in a world","page_number":2,"box":{"x":515,"y":542,"width":412,"height":8}},{"id":"754c32dc-fe3a-4ab9-a6bf-5bf23e0eaca7","block_type":"box","text":"with >2.5°C of warming compared to pre-industrial levels. Please note","page_number":2,"box":{"x":515,"y":555,"width":411,"height":8}},{"id":"f5c866cc-c58d-4e7a-b16d-516a8f71a180","block_type":"box","text":"there is significant uncertainty related to this temperature estimate, and","page_number":2,"box":{"x":515,"y":567,"width":425,"height":9}},{"id":"df5ad256-5de7-457b-9b59-222c431e7a91","block_type":"box","text":"outputs differ amongst different data vendors as methodologies continue","page_number":2,"box":{"x":516,"y":580,"width":433,"height":9}},{"id":"a61a4553-5738-459b-b044-4e03b5e8a888","block_type":"box","text":"to evolve and mature. Portfolio level.","page_number":2,"box":{"x":515,"y":593,"width":214,"height":7}},{"id":"6c6bdfd2-f274-4e38-81cd-7094259bb6cc","block_type":"box","text":"Climate Value at Risk- MSCI:","page_number":2,"box":{"x":515,"y":611,"width":181,"height":7}},{"id":"439272a3-26e5-4b50-aaf8-ad4128865b15","block_type":"box","text":"(Climate VaR)","page_number":2,"box":{"x":700,"y":610,"width":88,"height":8}},{"id":"02b3c212-5977-4053-ba94-1dfc21e56c43","block_type":"box","text":"is a measure to estimate","page_number":2,"box":{"x":792,"y":611,"width":144,"height":7}},{"id":"4210a612-6e8b-478d-86ab-2011a8a35927","block_type":"box","text":"the potential financial losses that a company or portfolio of assets could","page_number":2,"box":{"x":515,"y":623,"width":426,"height":9}},{"id":"f02108d0-7dbd-4023-9bbf-9d11666307f7","block_type":"box","text":"incur as a result of climate change. For additional details Climate Value at","page_number":2,"box":{"x":516,"y":636,"width":431,"height":9}},{"id":"8b739469-bc88-483e-9596-6fb6110f30c6","block_type":"box","text":"Risk metrics included on this report","page_number":2,"box":{"x":516,"y":649,"width":210,"height":9}},{"id":"62e90924-8343-4015-8904-0593b39d7a16","block_type":"box","text":"click he","page_number":2,"box":{"x":729,"y":649,"width":45,"height":7}},{"id":"e9a898c6-96d8-4843-ab6c-bd1e2ba36b05","block_type":"box","text":"re","page_number":2,"box":{"x":775,"y":651,"width":11,"height":5}},{"id":"828aea98-ca21-4ead-bf9e-e8f54b2f6367","block_type":"box","text":".","page_number":2,"box":{"x":787,"y":655,"width":2,"height":1}},{"id":"cce8d975-4b03-49f6-8a36-ed99c2038f2e","block_type":"box","text":"Report ID: 5648850.1","page_number":2,"box":{"x":362,"y":968,"width":118,"height":9}},{"id":"07535530-7280-4bf0-b179-356cdece6cc1","block_type":"box","text":"Published: 13 Oct 2026","page_number":2,"box":{"x":496,"y":968,"width":128,"height":7}},{"id":"e9f8c272-0d33-4dbf-8846-53efe264fc0c","block_type":"box","text":"P","page_number":2,"box":{"x":899,"y":968,"width":6,"height":6}},{"id":"a9d7827e-e702-43c7-93db-2e7b645ffe6b","block_type":"box","text":"a","page_number":2,"box":{"x":905,"y":970,"width":5,"height":4}},{"id":"5c5e09ae-4172-4c7f-959d-8f4e4fdaa499","block_type":"box","text":"g","page_number":2,"box":{"x":910,"y":970,"width":6,"height":5}},{"id":"58c22c76-1046-4184-9abe-805f710791e3","block_type":"box","text":"e","page_number":2,"box":{"x":916,"y":970,"width":5,"height":4}},{"id":"833eb54a-2b69-4eed-8009-c6c3b7ee8a12","block_type":"box","text":"2","page_number":2,"box":{"x":924,"y":968,"width":6,"height":6}},{"id":"6f06afa7-2501-49b6-a945-7c0e43ce6e8a","block_type":"box","text":"of","page_number":2,"box":{"x":932,"y":968,"width":10,"height":6}},{"id":"8a2e83b1-7e71-4c1e-aa53-d9c9ceb045f0","block_type":"box","text":"4","page_number":2,"box":{"x":943,"y":968,"width":7,"height":6}},{"id":"e16860d0-28dd-42a3-9b10-78a7610a2159","block_type":"box","text":"Disclosures","page_number":3,"box":{"x":52,"y":58,"width":166,"height":15}},{"id":"68d277a7-db6f-459c-96f6-1033bdcf71e3","block_type":"box","text":"State Street Global Advisors (SSGA) is now State Street Investment","page_number":3,"box":{"x":51,"y":92,"width":433,"height":8}},{"id":"59b30c80-f66c-492e-a2ff-64a0edaa46f9","block_type":"box","text":"Management. Please","page_number":3,"box":{"x":51,"y":105,"width":132,"height":9}},{"id":"78fe1130-b3a1-461c-8072-ad2f175c6a56","block_type":"box","text":"click here","page_number":3,"box":{"x":187,"y":105,"width":63,"height":7}},{"id":"006c3d89-620d-41b3-aa32-ab2dde60abcb","block_type":"box","text":"for more information.","page_number":3,"box":{"x":253,"y":105,"width":135,"height":7}},{"id":"22768c2e-25ff-469b-a80b-03f239bbd540","block_type":"box","text":"Marketing Communication","page_number":3,"box":{"x":51,"y":122,"width":170,"height":9}},{"id":"7de620a1-0a65-4569-9c98-ccc7bf43ca61","block_type":"box","text":"For institutional / professional investors use only.","page_number":3,"box":{"x":51,"y":140,"width":310,"height":9}},{"id":"b6bf8130-abc2-4b5f-a9be-7a97b80c32e1","block_type":"box","text":"The information presented above is intended to provide transparency","page_number":3,"box":{"x":51,"y":158,"width":413,"height":8}},{"id":"c8fcf135-9777-47fc-852c-451c96fae09e","block_type":"box","text":"to investors around sustainability characteristics of the fund. Presenting","page_number":3,"box":{"x":50,"y":170,"width":427,"height":9}},{"id":"71366fd3-5d3b-460a-8f94-4de477f0d178","block_type":"box","text":"this information should not be construed as a representation of the fund’s","page_number":3,"box":{"x":50,"y":183,"width":434,"height":9}},{"id":"ccf960ab-2542-4c84-bbcc-e8bb7aed8e42","block_type":"box","text":"current or future investment objective, nor should it be viewed as an","page_number":3,"box":{"x":51,"y":196,"width":400,"height":9}},{"id":"e8af0977-53b7-4735-b31d-bf7a6a7ebbd2","block_type":"box","text":"indicator of the fund manager’s current or future investment decision","page_number":3,"box":{"x":51,"y":209,"width":413,"height":9}},{"id":"2977f951-027e-4be2-a12f-54094dc9e61d","block_type":"box","text":"making.","page_number":3,"box":{"x":51,"y":222,"width":46,"height":8}},{"id":"f8e06809-96fc-404c-acf1-5702e4db4058","block_type":"box","text":"Investing involves risk including the risk of loss of principal.","page_number":3,"box":{"x":51,"y":239,"width":345,"height":9}},{"id":"2652ddc1-5cef-4a20-98f5-8e00fd20cc31","block_type":"box","text":"The whole or any part of this work may not be reproduced, copied or","page_number":3,"box":{"x":51,"y":257,"width":405,"height":9}},{"id":"5a571b44-201c-4919-af07-f9d5c858b0c2","block_type":"box","text":"transmitted or any of its contents disclosed to third parties without","page_number":3,"box":{"x":50,"y":270,"width":395,"height":8}},{"id":"3e0c2d5e-32b2-4f6d-98fe-1a0a238a171c","block_type":"box","text":"SSGA’s express written consent.","page_number":3,"box":{"x":51,"y":283,"width":192,"height":8}},{"id":"681861ca-685e-438c-b844-8dc61f4102d2","block_type":"box","text":"All information is from SSGA unless otherwise noted and has been","page_number":3,"box":{"x":51,"y":300,"width":393,"height":7}},{"id":"d6bd7da8-6c7e-4911-9740-372db6a30c8c","block_type":"box","text":"obtained from sources believed to be reliable, but its accuracy is not","page_number":3,"box":{"x":51,"y":313,"width":403,"height":9}},{"id":"6d476a25-827d-44a1-9bed-d3d1d06a1075","block_type":"box","text":"guaranteed. There is no representation or warranty as to the current","page_number":3,"box":{"x":51,"y":326,"width":406,"height":9}},{"id":"aee75b3d-c2b1-4b02-86e5-0433b4f516e8","block_type":"box","text":"accuracy, reliability or completeness of, nor liability for, decisions based","page_number":3,"box":{"x":51,"y":339,"width":421,"height":8}},{"id":"4e84c088-1c64-4786-9abf-1e0dc053c25a","block_type":"box","text":"on such information and it should not be relied on as such.","page_number":3,"box":{"x":51,"y":351,"width":341,"height":7}},{"id":"0b3e78c4-2b70-460c-9d7b-b3b537332287","block_type":"box","text":"The information provided does not constitute investment advice as such","page_number":3,"box":{"x":51,"y":369,"width":429,"height":9}},{"id":"7af137c2-486a-44dc-a97e-3f595f424eb9","block_type":"box","text":"term is defined under the Markets in Financial Instruments Directive","page_number":3,"box":{"x":50,"y":382,"width":402,"height":7}},{"id":"695fa32c-02e6-4fe4-b9bf-c50c511dbf5c","block_type":"box","text":"(2014/65/EU) or applicable Swiss regulation and it should not be relied on","page_number":3,"box":{"x":51,"y":394,"width":433,"height":9}},{"id":"c8eb0fcf-eff1-48c0-afcc-794b038f289d","block_type":"box","text":"as such. It should not be considered a solicitation to buy or an offer to sell","page_number":3,"box":{"x":51,"y":407,"width":430,"height":9}},{"id":"0aa52838-ea39-491c-a2af-703535c60eeb","block_type":"box","text":"any investment. It does not take into account any investor’s or potential","page_number":3,"box":{"x":51,"y":420,"width":420,"height":9}},{"id":"9591ee34-ee36-40bf-9665-06bc35a7d59a","block_type":"box","text":"investor’s particular investment objectives, strategies, tax status, risk","page_number":3,"box":{"x":51,"y":433,"width":408,"height":9}},{"id":"77f046a0-49e9-4388-9a50-25b82ad548bf","block_type":"box","text":"appetite or investment horizon. If you require investment advice you","page_number":3,"box":{"x":51,"y":446,"width":401,"height":9}},{"id":"14d6565c-be62-4c43-8328-9553d2e3425a","block_type":"box","text":"should consult your tax and financial or other professional advisor.","page_number":3,"box":{"x":51,"y":459,"width":391,"height":8}},{"id":"18f0431a-8ebf-4c6b-a01a-bd199329c0b3","block_type":"box","text":"The information contained in this communication is not a research","page_number":3,"box":{"x":51,"y":476,"width":421,"height":7}},{"id":"f50d315b-0c2a-4a1e-80c4-1e62f7d8902b","block_type":"box","text":"recommendation or ‘investment research’ and is classified as a","page_number":3,"box":{"x":51,"y":489,"width":400,"height":7}},{"id":"2131c74b-4d94-4aee-8646-d977f3c6e0fc","block_type":"box","text":"‘Marketing Communication’ in accordance with the applicable","page_number":3,"box":{"x":51,"y":502,"width":394,"height":9}},{"id":"a009283d-df6c-4958-8e7d-dc30e829f942","block_type":"box","text":"regional regulation. This means that this marketing communication","page_number":3,"box":{"x":51,"y":515,"width":427,"height":9}},{"id":"1a55a8e5-6514-4736-a727-cb5fb7e326ea","block_type":"box","text":"(a) has not been prepared in accordance with legal requirements","page_number":3,"box":{"x":51,"y":527,"width":411,"height":9}},{"id":"afee593b-d440-4dc3-90f8-3e542d81dc1a","block_type":"box","text":"designed to promote the independence of investment research","page_number":3,"box":{"x":51,"y":540,"width":400,"height":9}},{"id":"b926dc8e-5b5f-4a28-98c0-bc9ee7ebbd23","block_type":"box","text":"(b) is not subject to any prohibition on dealing ahead of the","page_number":3,"box":{"x":51,"y":553,"width":371,"height":9}},{"id":"aabc82e7-6a95-4b0e-ad69-a2d4372cd9e4","block_type":"box","text":"dissemination of investment research.","page_number":3,"box":{"x":51,"y":566,"width":243,"height":7}},{"id":"54d3641d-d558-488e-89bb-cb798991dabe","block_type":"box","text":"This communication is directed at professional clients (this includes","page_number":3,"box":{"x":51,"y":584,"width":402,"height":8}},{"id":"0b8e97f5-f22e-4fbd-921e-2150c766ccfc","block_type":"box","text":"eligible counterparties as defined by the appropriate EU regulator)","page_number":3,"box":{"x":51,"y":596,"width":392,"height":9}},{"id":"bad4d066-45bd-4d4f-b09b-7e424119afbc","block_type":"box","text":"who are deemed both knowledgeable and experienced in matters","page_number":3,"box":{"x":50,"y":609,"width":390,"height":9}},{"id":"a804dfcc-cd3d-4e05-adee-b29e7408fa98","block_type":"box","text":"relating to investments. The products and services to which this","page_number":3,"box":{"x":51,"y":622,"width":377,"height":9}},{"id":"d903cd36-e4b5-474a-884f-9009de52f1c2","block_type":"box","text":"communication relates are only available to such persons and persons","page_number":3,"box":{"x":51,"y":635,"width":417,"height":9}},{"id":"81319f81-bd62-4f8d-9a61-5088c40baf75","block_type":"box","text":"of any other description (including retail clients) should not rely on this","page_number":3,"box":{"x":51,"y":648,"width":414,"height":9}},{"id":"e7001c92-8fd6-427a-ac25-7375f5ad61e6","block_type":"box","text":"communication.","page_number":3,"box":{"x":51,"y":661,"width":95,"height":7}},{"id":"c74b142a-3bdc-4ff7-a8f9-f4b91e28099b","block_type":"box","text":"Equity securities may fluctuate in value and can decline significantly in","page_number":3,"box":{"x":51,"y":678,"width":414,"height":9}},{"id":"a8d0cfc4-ef0b-48c3-8730-5f64966945d3","block_type":"box","text":"response to the activities of individual companies and general market","page_number":3,"box":{"x":51,"y":691,"width":411,"height":9}},{"id":"7648d20b-4819-4b56-bccf-f7ac305aa1b1","block_type":"box","text":"and economic conditions.","page_number":3,"box":{"x":51,"y":704,"width":152,"height":7}},{"id":"211ab175-a7b4-4dbd-a0df-ba051eb06d10","block_type":"box","text":"Bonds generally present less short-term risk and volatility than stocks,","page_number":3,"box":{"x":51,"y":722,"width":415,"height":8}},{"id":"827c5f13-ab78-4299-9502-471ffe3bcb43","block_type":"box","text":"but contain interest rate risk (as interest rates raise, bond prices usually","page_number":3,"box":{"x":51,"y":734,"width":423,"height":9}},{"id":"57a9427e-92f3-4c9a-8eb6-4f0514d8b55d","block_type":"box","text":"fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk.","page_number":3,"box":{"x":50,"y":747,"width":418,"height":9}},{"id":"d3985447-cb8a-4dae-a61e-1ef491098cd9","block_type":"box","text":"These effects are usually pronounced for longer-term securities. Any","page_number":3,"box":{"x":51,"y":760,"width":408,"height":9}},{"id":"30bb7124-884a-4c67-aaea-c35d8b4e1a6c","block_type":"box","text":"fixed income security sold or redeemed prior to maturity may be subject","page_number":3,"box":{"x":50,"y":773,"width":429,"height":9}},{"id":"528b2c6e-2fe9-46c8-8d32-b38901d7574d","block_type":"box","text":"to a substantial gain or loss.","page_number":3,"box":{"x":50,"y":786,"width":163,"height":8}},{"id":"01984609-36a9-42d0-9df1-9db098648512","block_type":"box","text":"ETFs trade like stocks, are subject to investment risk, fluctuate in market","page_number":3,"box":{"x":51,"y":803,"width":430,"height":9}},{"id":"da34c524-82a6-4cbc-8e62-f83db08a8fd6","block_type":"box","text":"value and may trade at prices above or below the ETFs net asset value.","page_number":3,"box":{"x":50,"y":816,"width":420,"height":9}},{"id":"1d4bcf6f-eb44-47f6-9004-a52dc434c112","block_type":"box","text":"Brokerage commissions and ETF expenses will reduce returns.","page_number":3,"box":{"x":51,"y":829,"width":372,"height":9}},{"id":"e5aa53ed-8df9-4cb9-a5bd-c67c76ae4109","block_type":"box","text":"The S&P 500® Index is a product of S&P Dow Jones Indices LLC or its","page_number":3,"box":{"x":51,"y":846,"width":414,"height":9}},{"id":"4dc188ba-0515-40db-a189-f6182a53dc83","block_type":"box","text":"affiliates (“S&P DJI”) and have been licensed for use by State Street","page_number":3,"box":{"x":51,"y":859,"width":400,"height":9}},{"id":"70d25a5a-bc41-48cb-a6b7-9365f04acf73","block_type":"box","text":"Global Advisors. S&P®, SPDR®, S&P 500®,US 500 and the 500 are","page_number":3,"box":{"x":51,"y":872,"width":396,"height":8}},{"id":"47550f81-ed9c-4b9f-8da9-f369e6256e50","block_type":"box","text":"trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow","page_number":3,"box":{"x":50,"y":885,"width":416,"height":8}},{"id":"b6a05a8e-9d29-49de-9d53-ed5e478c469e","block_type":"box","text":"Jones® is a registered trademark of Dow Jones Trademark Holdings","page_number":3,"box":{"x":51,"y":898,"width":403,"height":8}},{"id":"165ad941-b8e7-44b5-a975-d514f0820519","block_type":"box","text":"LLC (“Dow Jones”) and has been licensed for use by S&P Dow Jones","page_number":3,"box":{"x":51,"y":910,"width":407,"height":9}},{"id":"7a7e57f5-975d-4dbf-bd27-f9ff168676cf","block_type":"box","text":"Indices; and these trademarks have been licensed for use by S&P DJI","page_number":3,"box":{"x":51,"y":923,"width":410,"height":9}},{"id":"c41ad436-3401-428e-bcc2-aebdf044c7a7","block_type":"box","text":"and sublicensed for certain purposes by State Street Global Advisors.","page_number":3,"box":{"x":516,"y":92,"width":414,"height":9}},{"id":"1da9ad80-d073-499f-8199-df60c6515a54","block_type":"box","text":"The fund is not sponsored, endorsed, sold or promoted by S&P DJI, Dow","page_number":3,"box":{"x":515,"y":105,"width":429,"height":8}},{"id":"ac37a67c-3f7e-426f-90cd-85105893621e","block_type":"box","text":"Jones, S&P, their respective affiliates, and none of such parties make any","page_number":3,"box":{"x":515,"y":118,"width":432,"height":8}},{"id":"b4b62db2-dba0-4c77-851f-dd683720ca89","block_type":"box","text":"representation regarding the advisability of investing in such product(s)","page_number":3,"box":{"x":516,"y":130,"width":421,"height":9}},{"id":"a1f056b8-2494-4cc4-a5d6-773abf043459","block_type":"box","text":"nor do they have any liability for any errors, omissions, or interruptions of","page_number":3,"box":{"x":516,"y":143,"width":429,"height":9}},{"id":"7082267f-9fe2-42c4-a303-9b16ec0cbeff","block_type":"box","text":"these indices.","page_number":3,"box":{"x":515,"y":156,"width":81,"height":7}},{"id":"3a522808-f2af-4def-9a5f-6170c27ef9ae","block_type":"box","text":"Please refer to the Fund’s latest Key Information Document (KID)/","page_number":3,"box":{"x":516,"y":174,"width":416,"height":8}},{"id":"2acaf51f-5909-460b-b87f-62bff12230f1","block_type":"box","text":"Key Investor Information Document (KIID) and Prospectus before","page_number":3,"box":{"x":516,"y":186,"width":415,"height":9}},{"id":"f69f0e51-6bd0-4ded-ba60-6c69671b634f","block_type":"box","text":"making any final investment decision. The latest English version of","page_number":3,"box":{"x":516,"y":199,"width":422,"height":9}},{"id":"ae73e2c7-c6a1-41ea-afae-b935e5513632","block_type":"box","text":"the prospectus and the KID/KIID can be found at","page_number":3,"box":{"x":515,"y":212,"width":307,"height":9}},{"id":"da8ae1a3-fc25-4244-ae73-33730fde536b","block_type":"box","text":"www.ssga.com","page_number":3,"box":{"x":825,"y":214,"width":97,"height":7}},{"id":"c54ca04b-a4c5-4e45-b365-a571fbd069ad","block_type":"box","text":". A","page_number":3,"box":{"x":923,"y":212,"width":16,"height":7}},{"id":"bb161e92-2b7d-4e5b-9feb-18d7a6ff69e5","block_type":"box","text":"summary of investor rights can be found here:","page_number":3,"box":{"x":515,"y":225,"width":292,"height":9}},{"id":"424193c5-827e-46e0-8e21-5e0079c00e03","block_type":"box","text":"https://www.ssga.","page_number":3,"box":{"x":811,"y":225,"width":116,"height":9}},{"id":"05299258-0582-4af7-a564-484ab605167e","block_type":"box","text":"com/library-content/products/fund-docs/summary-of-investor","page_number":3,"box":{"x":515,"y":238,"width":421,"height":8}},{"id":"7d548ac5-4f6b-4d0b-82c4-cc00ca9f7155","block_type":"box","text":"rights/ssga-investors-rights-summary-template-non-etf-Lu","page_number":3,"box":{"x":516,"y":250,"width":390,"height":9}},{"id":"1e400dd1-7194-4361-8bb1-e6c0399b0cbc","block_type":"box","text":"x.pdf","page_number":3,"box":{"x":906,"y":251,"width":35,"height":8}},{"id":"9ceb8584-9e1a-4b4e-b1e3-9c5a84d1069f","block_type":"box","text":"Note that the Management Company may decide to terminate the","page_number":3,"box":{"x":516,"y":268,"width":418,"height":9}},{"id":"a029e563-79f1-4e64-82e0-321dc8eaf37a","block_type":"box","text":"arrangements made for marketing and proceed with de-notification","page_number":3,"box":{"x":515,"y":281,"width":431,"height":9}},{"id":"595a9f04-e6f9-4b7a-a297-625e6a6d696c","block_type":"box","text":"in compliance with Article 93a of Directive 2009/65/EC.","page_number":3,"box":{"x":516,"y":294,"width":354,"height":8}},{"id":"3442853f-5aa2-4839-a88b-64893f3b0bdc","block_type":"box","text":"Investors should not evaluate an investment in the fund based solely","page_number":3,"box":{"x":516,"y":311,"width":403,"height":9}},{"id":"2e0bd063-c560-43d1-9a49-495f02fe60a7","block_type":"box","text":"on the information above, but should consider other factors, including","page_number":3,"box":{"x":516,"y":324,"width":411,"height":9}},{"id":"66fd07e4-01c8-4dbb-b224-876b4c3a5963","block_type":"box","text":"the fund’s overall investment objective and risk profile. Investors are","page_number":3,"box":{"x":515,"y":337,"width":401,"height":9}},{"id":"111ad4b9-3d69-4925-85c6-58037af6b4f3","block_type":"box","text":"encouraged to review the fund’s prospectus [https://www.ssga.com/","page_number":3,"box":{"x":516,"y":350,"width":402,"height":9}},{"id":"e9f5c6cc-0905-4f8d-9796-4b406399230a","block_type":"box","text":"fund-finder?tab=documents] and KIID for more information regarding","page_number":3,"box":{"x":515,"y":363,"width":416,"height":9}},{"id":"379a79e9-1492-4cc6-b0e6-9811b5085f46","block_type":"box","text":"the fund and where applicable, the fund’s SFDR category.","page_number":3,"box":{"x":515,"y":376,"width":338,"height":8}},{"id":"17f113b1-4bc9-4dea-b323-ea3e76af0d2c","block_type":"box","text":"Sustainability data is sourced from external providers. This data may","page_number":3,"box":{"x":515,"y":393,"width":408,"height":9}},{"id":"57d92259-f97e-43af-b312-80d495a575e9","block_type":"box","text":"be incomplete, inaccurate, or unavailable for certain companies, which","page_number":3,"box":{"x":516,"y":406,"width":416,"height":9}},{"id":"e4ef6a3e-a561-4fd0-8025-9a0bbacdf649","block_type":"box","text":"could limit the ability to fully capture or reflect their sustainability","page_number":3,"box":{"x":516,"y":419,"width":382,"height":8}},{"id":"0959aa1d-6e07-4a97-a6e8-b61bf14b87cb","block_type":"box","text":"characteristics. As a result, there may be limitations reported in the","page_number":3,"box":{"x":516,"y":432,"width":397,"height":8}},{"id":"24285379-1fd1-47a7-8217-1532234f8b38","block_type":"box","text":"sustainability metrics or indicators.","page_number":3,"box":{"x":515,"y":445,"width":207,"height":8}},{"id":"cd26f6f3-6be3-4069-921a-b5cef68678e1","block_type":"box","text":"The third-party information above has been obtained from sources","page_number":3,"box":{"x":515,"y":462,"width":398,"height":9}},{"id":"589e67c3-a944-4f5a-a9f5-17c7be3d2778","block_type":"box","text":"believed to be reliable as of the date indicated, but its accuracy is not","page_number":3,"box":{"x":516,"y":475,"width":407,"height":9}},{"id":"f697dc35-55db-499f-8aad-2564421465ba","block_type":"box","text":"guaranteed by SSGA. SSGA is not liable for investment decisions based","page_number":3,"box":{"x":515,"y":488,"width":427,"height":9}},{"id":"370b63e4-2413-4352-91a6-4d93ff5a0528","block_type":"box","text":"on this information and it should not be relied on as such. There is no","page_number":3,"box":{"x":516,"y":501,"width":403,"height":7}},{"id":"d154cbda-5ec3-400d-ba36-a3c4ec6c7113","block_type":"box","text":"representation or warranty as to the current accuracy, reliability or","page_number":3,"box":{"x":516,"y":514,"width":393,"height":8}},{"id":"10d190ad-3027-4d2b-a620-82d1bc44d46e","block_type":"box","text":"completeness of this information.","page_number":3,"box":{"x":516,"y":526,"width":197,"height":9}},{"id":"fff4fc7a-067a-407f-b5c7-9af1fc5cc61d","block_type":"box","text":"Data and metrics have been sourced as follows from the following","page_number":3,"box":{"x":516,"y":544,"width":389,"height":9}},{"id":"868681b3-e113-4430-91f8-fe60f92d2952","block_type":"box","text":"contributors as of the date of this report, and are subject to their","page_number":3,"box":{"x":516,"y":557,"width":379,"height":8}},{"id":"7df25a1a-d87a-45c3-9c40-2d6c5331db55","block_type":"box","text":"disclosures below. All other data has been sourced by SSGA.","page_number":3,"box":{"x":516,"y":569,"width":360,"height":9}},{"id":"de842339-ec6f-428a-86ee-cbe057396b79","block_type":"box","text":"Source: MSCI: Certain information contained herein (the “Information”)","page_number":3,"box":{"x":515,"y":587,"width":419,"height":8}},{"id":"2cf733cf-e519-4a3d-aa74-d474b88f0ce9","block_type":"box","text":"is sourced from/copyright of MSCI Inc., MSCI ESG Research LLC, or their","page_number":3,"box":{"x":516,"y":600,"width":431,"height":9}},{"id":"b430ad78-bb98-491f-b559-f4b243602694","block_type":"box","text":"affiliates (“MSCI”), or information providers (together the “MSCI Parties”)","page_number":3,"box":{"x":516,"y":612,"width":428,"height":9}},{"id":"29dddd8c-2ae1-4fb0-8981-9f0ec4c2a42d","block_type":"box","text":"and may have been used to calculate scores, signals, or other indicators.","page_number":3,"box":{"x":516,"y":626,"width":427,"height":8}},{"id":"017dd60e-3185-48d2-89a0-39e558e82520","block_type":"box","text":"The Information is for internal use only and may not be reproduced or","page_number":3,"box":{"x":515,"y":638,"width":411,"height":9}},{"id":"8505a93b-d826-4fe0-bf98-f9d083f31314","block_type":"box","text":"disseminated in whole or part without prior written permission. The","page_number":3,"box":{"x":516,"y":651,"width":395,"height":9}},{"id":"027e144f-100c-4824-83d7-feeb9970ec0c","block_type":"box","text":"Information may not be used for, nor does it constitute, an offer to buy","page_number":3,"box":{"x":516,"y":664,"width":411,"height":9}},{"id":"1734bd63-94ca-4779-8ad8-51200ca7e227","block_type":"box","text":"or sell, or a promotion or recommendation of, any security, financial","page_number":3,"box":{"x":516,"y":677,"width":396,"height":8}},{"id":"105f8ed6-7748-431e-a7b1-ea321b8af763","block_type":"box","text":"instrument or product, trading strategy, or index, nor should it be taken as","page_number":3,"box":{"x":516,"y":690,"width":433,"height":8}},{"id":"b0d5ba1c-70af-4bc0-88e7-eac8d5ac2d53","block_type":"box","text":"an indication or guarantee of any future performance. Some funds may","page_number":3,"box":{"x":516,"y":702,"width":420,"height":9}},{"id":"f31b0f49-82e0-4f59-b843-41db3ed2d0bf","block_type":"box","text":"be based on or linked to MSCI indexes, and MSCI may be compensated","page_number":3,"box":{"x":516,"y":715,"width":422,"height":9}},{"id":"d5388f88-bfec-43f2-9305-6af45bae9a27","block_type":"box","text":"based on the fund’s assets under management or other measures.","page_number":3,"box":{"x":516,"y":728,"width":392,"height":9}},{"id":"920a5363-b19b-426d-b11c-364512676e06","block_type":"box","text":"MSCI has established an information barrier between index research","page_number":3,"box":{"x":516,"y":741,"width":407,"height":7}},{"id":"c7ff83cb-9853-4602-8465-d9317aadf25a","block_type":"box","text":"and certain Information. None of the Information in and of itself can be","page_number":3,"box":{"x":516,"y":754,"width":413,"height":7}},{"id":"46283f38-6c28-49b0-a172-a29bfed48ad2","block_type":"box","text":"used to determine which securities to buy or sell or when to buy or sell","page_number":3,"box":{"x":516,"y":767,"width":412,"height":8}},{"id":"7c05d0ed-7b57-41cc-9f68-7187e9558050","block_type":"box","text":"them. The Information is provided “as is” and the user assumes the entire","page_number":3,"box":{"x":515,"y":779,"width":431,"height":9}},{"id":"c9280792-f268-4301-bda9-2a270f8c85fe","block_type":"box","text":"risk of any use it may make or permit to be made of the Information.","page_number":3,"box":{"x":516,"y":792,"width":398,"height":9}},{"id":"e3647256-97ba-43a6-a732-464925f9a3b0","block_type":"box","text":"No MSCI Party warrants or guarantees the originality, accuracy and/","page_number":3,"box":{"x":516,"y":805,"width":403,"height":9}},{"id":"3bb94773-9997-4760-8a6d-dffa1ec761ba","block_type":"box","text":"or completeness of the Information and each expressly disclaims all","page_number":3,"box":{"x":516,"y":818,"width":401,"height":9}},{"id":"0bc1f88e-280b-4824-b3da-511a9e18f79a","block_type":"box","text":"express or implied warranties. No MSCI Party shall have any liability for","page_number":3,"box":{"x":516,"y":831,"width":418,"height":8}},{"id":"f09ba4c6-f58c-48f8-87e8-0ddce13ac243","block_type":"box","text":"any errors or omissions in connection with any Information herein, or any","page_number":3,"box":{"x":516,"y":844,"width":428,"height":8}},{"id":"46024347-4756-4f69-a77b-0ff1e8387c17","block_type":"box","text":"liability for any direct, indirect, special, punitive, consequential or any","page_number":3,"box":{"x":516,"y":856,"width":405,"height":9}},{"id":"0b505fef-8855-4a64-b396-2ebc3bdf7137","block_type":"box","text":"other damages (including lost profits) even if notified of the possibility of","page_number":3,"box":{"x":516,"y":869,"width":426,"height":9}},{"id":"756adf69-2325-4e23-90eb-405032f251d8","block_type":"box","text":"such damages.","page_number":3,"box":{"x":515,"y":882,"width":89,"height":9}},{"id":"95751c69-5b9b-4b9a-a657-e170af60e15e","block_type":"box","text":"The returns on a portfolio of securities which exclude companies that do","page_number":3,"box":{"x":515,"y":900,"width":429,"height":8}},{"id":"b03740bb-3214-4f9f-9305-627ba74d440b","block_type":"box","text":"not meet the portfolio’s sustainable strategy criteria may trail the returns","page_number":3,"box":{"x":516,"y":912,"width":428,"height":9}},{"id":"a4f1a6ca-5d80-4570-909f-8179ed1079a6","block_type":"box","text":"on a portfolio of securities which include such companies. A portfolio’s","page_number":3,"box":{"x":516,"y":925,"width":415,"height":9}},{"id":"669f20d0-4008-434e-8527-441f4aca850f","block_type":"box","text":"Report ID: 5648850.1","page_number":3,"box":{"x":362,"y":968,"width":118,"height":9}},{"id":"0ecb57a8-b4fc-4db2-83f7-b8345983902f","block_type":"box","text":"Published: 13 Oct 2026","page_number":3,"box":{"x":496,"y":968,"width":128,"height":7}},{"id":"070377ae-3adf-4aa3-990f-e82b153a001b","block_type":"box","text":"P","page_number":3,"box":{"x":899,"y":968,"width":5,"height":6}},{"id":"268ce5cc-d1a6-4578-88f9-55505e2840b2","block_type":"box","text":"a","page_number":3,"box":{"x":905,"y":970,"width":5,"height":4}},{"id":"bd98fa79-332d-4bf6-86d7-a2e20b8fa8a1","block_type":"box","text":"g","page_number":3,"box":{"x":910,"y":970,"width":6,"height":5}},{"id":"52c72da1-a5ab-4f73-8f56-fa7efa75903b","block_type":"box","text":"e","page_number":3,"box":{"x":916,"y":970,"width":5,"height":4}},{"id":"ea148e7c-a83c-4cc7-b19c-2c3aee9f8f53","block_type":"box","text":"3","page_number":3,"box":{"x":924,"y":968,"width":5,"height":6}},{"id":"abbc23a0-b43b-4de1-afd4-adf12d303522","block_type":"box","text":"of","page_number":3,"box":{"x":932,"y":968,"width":10,"height":6}},{"id":"88cdbd71-8345-4825-a2d2-8c9fa6c1632a","block_type":"box","text":"4","page_number":3,"box":{"x":943,"y":968,"width":7,"height":6}},{"id":"e53f9ce5-7a7f-4d84-80fe-97f54289dc55","block_type":"box","text":"sustainable strategy criteria may result in the portfolio investing in","page_number":4,"box":{"x":47,"y":36,"width":389,"height":8}},{"id":"00a78e98-566a-4b1a-9220-e59e2eb357d1","block_type":"box","text":"industry sectors or securities which underperform the market as a whole.","page_number":4,"box":{"x":47,"y":48,"width":433,"height":9}},{"id":"56e6655c-a1c7-423c-ba63-68db2dc2a29d","block_type":"box","text":"For AIFMD Funds where applicable:","page_number":4,"box":{"x":47,"y":66,"width":225,"height":9}},{"id":"4913bef1-daaf-451a-baf8-17bca12b3e94","block_type":"box","text":"For Professional Client/Qualified Investor Use Only in the","page_number":4,"box":{"x":47,"y":83,"width":361,"height":9}},{"id":"1d6d099b-e270-4171-aa78-135fa6c0c1c1","block_type":"box","text":"Switzerland, Netherlands, Sweden and United Kingdom. Not for","page_number":4,"box":{"x":47,"y":96,"width":403,"height":9}},{"id":"354afae5-cd56-47a2-b578-61a52e14e4a9","block_type":"box","text":"public distribution.","page_number":4,"box":{"x":47,"y":109,"width":120,"height":9}},{"id":"29534bed-a1a8-4dec-82dd-ac54f00ddb43","block_type":"box","text":"In the UK, this document has been issued by State Street Global Advisors","page_number":4,"box":{"x":47,"y":127,"width":434,"height":8}},{"id":"cf5e1b44-a2f6-48fd-a6b8-c21b40a80778","block_type":"box","text":"Limited (“SSGAL”). Authorized and regulated by the Financial Conduct","page_number":4,"box":{"x":47,"y":139,"width":419,"height":9}},{"id":"7a2e5c0c-da6b-4001-ba83-17cbd08963a3","block_type":"box","text":"Authority, Registered No.2509928. VAT No. 5776591 81. Registered","page_number":4,"box":{"x":47,"y":152,"width":398,"height":9}},{"id":"26d2c2b9-045a-4319-b826-76c4d3b2000a","block_type":"box","text":"office: 20 Churchill Place, Canary Wharf, London, E14 5HJ. Telephone:","page_number":4,"box":{"x":47,"y":165,"width":413,"height":9}},{"id":"d6154c04-6720-473f-9b0c-fc98917d0625","block_type":"box","text":"020 3395 6000. Facsimile: 020 3395 6350 Web:","page_number":4,"box":{"x":47,"y":178,"width":292,"height":7}},{"id":"7df5a473-1edd-45c3-8cc8-995c971c33f8","block_type":"box","text":"www.ssga","page_number":4,"box":{"x":342,"y":180,"width":59,"height":7}},{"id":"975a4523-e290-42f2-9062-d485906ab170","block_type":"box","text":".com","page_number":4,"box":{"x":401,"y":180,"width":28,"height":5}},{"id":"8cb0228f-0a06-4b3b-8754-a0fc2f1036e6","block_type":"box","text":".","page_number":4,"box":{"x":431,"y":184,"width":1,"height":1}},{"id":"8b7fc69e-c9df-4f22-aa81-e0875ec3bcfa","block_type":"box","text":"NOTICE TO PERSONS IN THE EUROPEAN ECONOMIC AREA","page_number":4,"box":{"x":47,"y":196,"width":388,"height":7}},{"id":"34296e56-ca7d-4a0a-b2e7-c6cc9f953d08","block_type":"box","text":"(“EEA”)","page_number":4,"box":{"x":47,"y":208,"width":48,"height":8}},{"id":"bb4d1c86-f33a-42d2-81e0-9df15f8274e1","block_type":"box","text":"The fund is permitted to market into the relevant EEA jurisdiction","page_number":4,"box":{"x":47,"y":226,"width":385,"height":9}},{"id":"5032c45a-c1cb-4e9d-891d-6e7eebc28763","block_type":"box","text":"pursuant to either Article 42 of AIFMD (if and as implemented under","page_number":4,"box":{"x":47,"y":239,"width":403,"height":9}},{"id":"602f1b9d-41c1-403d-9a5c-95f0d76992b3","block_type":"box","text":"national laws of such member state); or (ii) can otherwise be lawfully","page_number":4,"box":{"x":47,"y":252,"width":402,"height":8}},{"id":"e5529837-6356-41fd-b4d5-4d8cc6b9ca86","block_type":"box","text":"offered or sold (including on the basis of an unsolicited request from a","page_number":4,"box":{"x":47,"y":264,"width":412,"height":9}},{"id":"1b12fb34-5d98-41c5-a144-01f95c392bcc","block_type":"box","text":"professional client/qualified investor).","page_number":4,"box":{"x":47,"y":277,"width":222,"height":9}},{"id":"3615c058-edea-49e7-9f3b-e9cff5964142","block_type":"box","text":"The Fund is an alternative investment fund for the purpose of the","page_number":4,"box":{"x":47,"y":295,"width":412,"height":9}},{"id":"31f392be-084b-4892-a181-19b34ff380bd","block_type":"box","text":"European Union Alternative Investment Fund Managers Directive","page_number":4,"box":{"x":47,"y":308,"width":415,"height":9}},{"id":"2d6e37f4-596e-477e-a7c6-6c9852341e2d","block_type":"box","text":"(Directive 2011/61/ EU) (the “AIFMD”). It is not a regulated collective","page_number":4,"box":{"x":47,"y":320,"width":427,"height":9}},{"id":"9ed0fd85-67d3-4527-9d24-04ad5d6512de","block_type":"box","text":"investment scheme for purposes of the Financial Services and","page_number":4,"box":{"x":47,"y":333,"width":395,"height":9}},{"id":"8040b85e-99a5-4e9f-bdd8-dad768adb6a3","block_type":"box","text":"Markets Act 2000 of the United Kingdom (“FSMA”). The promotion","page_number":4,"box":{"x":47,"y":346,"width":426,"height":9}},{"id":"079f90d5-feb4-49cf-84fc-b199a1f916dc","block_type":"box","text":"of the fund and the distribution of this material in the UK is","page_number":4,"box":{"x":47,"y":359,"width":369,"height":7}},{"id":"92bb3351-b0e9-445b-8303-4260dfbd8681","block_type":"box","text":"restricted by law to Professional Investors Only. The information","page_number":4,"box":{"x":47,"y":372,"width":409,"height":9}},{"id":"b45a0ad6-0c18-4fba-820d-67f4a8f7a539","block_type":"box","text":"provided does not constitute tax advice, investors should consult","page_number":4,"box":{"x":47,"y":385,"width":414,"height":8}},{"id":"8bb0c2be-419b-4478-8c1e-b593a8c4b395","block_type":"box","text":"their tax advisors with respect to their particular tax situations and","page_number":4,"box":{"x":47,"y":398,"width":426,"height":8}},{"id":"3bf45b66-b085-419f-82f5-80e44d0aa5cd","block_type":"box","text":"the tax effects of an investment in the Fund.","page_number":4,"box":{"x":47,"y":410,"width":277,"height":7}},{"id":"dad5415f-acc8-4ac0-80a9-636b273182a7","block_type":"box","text":"The fund is an alternative investment fund for the purpose of the","page_number":4,"box":{"x":512,"y":36,"width":409,"height":8}},{"id":"e3ede1c0-820c-485f-a69c-a9b18513dbaa","block_type":"box","text":"European Union Alternative Investment Fund Managers Directive","page_number":4,"box":{"x":512,"y":49,"width":415,"height":8}},{"id":"fb7521ef-5263-412c-adb2-eef4798c6005","block_type":"box","text":"(Directive 2011/61/ EU) (“AIFMD”). SSGA Funds Management, Inc.","page_number":4,"box":{"x":512,"y":61,"width":414,"height":9}},{"id":"ae4f7dcf-6b84-436c-b176-665f6ac95574","block_type":"box","text":"or State Street Global Advisors Trust Company is the alternative","page_number":4,"box":{"x":512,"y":74,"width":411,"height":9}},{"id":"af54c838-d4e7-487e-98f1-86e62caeb773","block_type":"box","text":"investment fund manager (“AIFM”) of the fund and is an affiliate of","page_number":4,"box":{"x":512,"y":87,"width":421,"height":9}},{"id":"f5a2e417-621d-4b99-9e88-7254f7c6ab04","block_type":"box","text":"State Street Global Advisors Limited.","page_number":4,"box":{"x":512,"y":100,"width":237,"height":7}},{"id":"a13a795e-67da-4348-8f1e-84a05e9ed6e0","block_type":"box","text":"For Switzerland Qualified Investor: The distribution of interests of U.S.","page_number":4,"box":{"x":512,"y":117,"width":409,"height":7}},{"id":"be8a1377-0492-4708-9104-bb8556916b53","block_type":"box","text":"SPDR ETFs in Switzerland will be exclusively made to, and directed at,","page_number":4,"box":{"x":512,"y":130,"width":413,"height":9}},{"id":"402f1b13-1680-4b72-a73d-cde59f6e08ba","block_type":"box","text":"qualified investors according to Article 10(3) and (3ter) of the Swiss","page_number":4,"box":{"x":512,"y":143,"width":396,"height":9}},{"id":"aef0f084-6aa1-4dae-8206-7432d75bacf8","block_type":"box","text":"Collective Investment Schemes Act (“CISA”) and its implementing","page_number":4,"box":{"x":512,"y":156,"width":391,"height":9}},{"id":"8d878a53-6b3d-4bc7-b49e-843ab4ed2584","block_type":"box","text":"ordinance. The legal documents of U.S. SPDR ETFs can be obtained free","page_number":4,"box":{"x":512,"y":169,"width":428,"height":8}},{"id":"4a45667c-e7f7-418b-ad37-d1333d9de427","block_type":"box","text":"of charge from the representative in Switzerland. Swiss Representative","page_number":4,"box":{"x":512,"y":181,"width":419,"height":9}},{"id":"75038e24-d2c3-4b47-ab7d-82fd5956a683","block_type":"box","text":"& Swiss Paying Agent: State Street Bank International GmbH","page_number":4,"box":{"x":512,"y":194,"width":359,"height":9}},{"id":"59500bcc-09b1-40f4-b6c7-3b2319c11688","block_type":"box","text":"Kalanderplatz 5, 8045 Zürich, Switzerland Tel: +41 44 560 500.","page_number":4,"box":{"x":512,"y":207,"width":374,"height":9}},{"id":"f118823f-e947-4eec-840d-0199d77c77b3","block_type":"box","text":"SSGA Funds Management, Inc. serves as the investment advisor to the","page_number":4,"box":{"x":512,"y":225,"width":419,"height":8}},{"id":"279ee889-b127-4e35-867e-3a47b14b5c8e","block_type":"box","text":"SPDR ETFs that are registered with the United States Securities and","page_number":4,"box":{"x":512,"y":237,"width":403,"height":9}},{"id":"15e1c5f8-3563-496b-a6c4-c58cd84c2663","block_type":"box","text":"Exchange Commission under the Investment Company Act of 1940.","page_number":4,"box":{"x":512,"y":250,"width":402,"height":9}},{"id":"ca513b5a-5b91-431f-a128-04d68e5fdff1","block_type":"box","text":"SSGA Funds Management, Inc. is an affiliate of State Street Global","page_number":4,"box":{"x":512,"y":263,"width":391,"height":9}},{"id":"f0feef9c-7703-43b4-80b2-54a6c1a782b2","block_type":"box","text":"Advisors Limited.","page_number":4,"box":{"x":511,"y":276,"width":104,"height":7}},{"id":"c157205b-b60e-46d2-b810-e2f503347b2e","block_type":"box","text":"Before investing, consider the funds’ investment objectives, risks,","page_number":4,"box":{"x":512,"y":294,"width":416,"height":8}},{"id":"90ca2e09-fb65-4e83-8a8e-036c22c00ac4","block_type":"box","text":"charges and expenses. To obtain a prospectus which contains","page_number":4,"box":{"x":512,"y":307,"width":393,"height":8}},{"id":"6f3b1f58-2c03-4632-8243-93f95d1d6e64","block_type":"box","text":"this and other information, visit ssga.com or talk to your financial","page_number":4,"box":{"x":511,"y":319,"width":412,"height":9}},{"id":"835c21db-06a0-490e-a16f-e2b5684faa29","block_type":"box","text":"advisor. Read it carefully before investing.","page_number":4,"box":{"x":512,"y":332,"width":266,"height":9}},{"id":"77c0c0cb-05bb-4231-bf3d-657b10a39c2c","block_type":"box","text":"© 2026 State Street Corporation - All Rights Reserved.","page_number":4,"box":{"x":512,"y":358,"width":326,"height":8}},{"id":"32409058-07fa-4d4a-8911-6d6a31b9514a","block_type":"box","text":"Tracking Code : 8886773.1.1.EMEA.INST","page_number":4,"box":{"x":512,"y":371,"width":235,"height":8}},{"id":"0d2ba888-3c58-473a-83e9-8bc22ffb86b0","block_type":"box","text":"Expiration Date : 04.30.2027","page_number":4,"box":{"x":512,"y":383,"width":170,"height":9}},{"id":"ccee1f2f-d2c2-46fb-a986-3bd8956435ac","block_type":"box","text":"State Street Global Advisors Worldwide Ent","page_number":4,"box":{"x":512,"y":396,"width":259,"height":7}},{"id":"0155a851-81e3-4700-b564-b2b3e171392e","block_type":"box","text":"ities","page_number":4,"box":{"x":772,"y":396,"width":23,"height":7}},{"id":"5c82c017-e501-4d73-ba13-d992c9f423bd","block_type":"box","text":"Report ID: 5648850.1","page_number":4,"box":{"x":362,"y":968,"width":118,"height":9}},{"id":"79130dc1-d1b0-4832-991a-84d762fd9cdb","block_type":"box","text":"Published: 13 Oct 2026","page_number":4,"box":{"x":496,"y":968,"width":128,"height":7}},{"id":"afc3e549-14c8-4cb5-ab0b-747e22d82f73","block_type":"box","text":"P","page_number":4,"box":{"x":898,"y":968,"width":6,"height":6}},{"id":"a8f95c39-7b17-4dba-9355-e1273f74f055","block_type":"box","text":"a","page_number":4,"box":{"x":904,"y":970,"width":6,"height":4}},{"id":"0b0dd808-ff5f-4235-b989-36462a3a2ce3","block_type":"box","text":"g","page_number":4,"box":{"x":910,"y":970,"width":5,"height":5}},{"id":"916aa0af-12af-4c1f-9ea9-b71743628832","block_type":"box","text":"e","page_number":4,"box":{"x":916,"y":970,"width":5,"height":4}},{"id":"ef27e220-480d-4ad1-802a-ae7752f1d68c","block_type":"box","text":"4","page_number":4,"box":{"x":923,"y":968,"width":7,"height":6}},{"id":"893dd5ab-ed2f-44b5-8b11-47a815e04a04","block_type":"box","text":"of","page_number":4,"box":{"x":932,"y":968,"width":10,"height":6}},{"id":"ecdd0dec-66ea-4b65-9493-af5c945eb4fb","block_type":"box","text":"4","page_number":4,"box":{"x":943,"y":968,"width":7,"height":6}}],"unit":"per_mille","page_width":595,"page_height":[{"value":841,"pages":[1]},{"value":842,"pages":[2,3,4]}],"attributes":{"chunk_type":"page_range","start_page":1,"end_page":4}},"source":{"type":"Model","id":"github:dorsalhub/pdf-extractor","version":"0.5.0","execution_id":"bdd9e961-d5f4-48ac-b3c8-34e075176327"},"user_id":1000002,"date_created":"2026-10-17T01:05:35.621000Z","date_modified":"2026-10-17T01:05:35.621000Z","private":false}