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Eligible securities include shares in public equity and corporate bonds. Metrics are rescaled based on data coverage to ensure","page_number":4,"box":{"x":39,"y":537,"width":849,"height":9}},{"id":"734f6bd6-0753-4be9-b197-a2408712ba8f","block_type":"box","text":"comparability to benchmark. The development of carbon metrics is in early stages resulting in challenges in interpreting the data and","page_number":4,"box":{"x":39,"y":549,"width":865,"height":9}},{"id":"26013e48-2601-4ba7-89aa-3e27aa42e8e4","block_type":"box","text":"using it as a basis for investment decision making. For example, the metrics are backward looking and do not recognise future plans to","page_number":4,"box":{"x":39,"y":561,"width":874,"height":9}},{"id":"dce9a0a7-31ed-4af4-a9df-25f55c6b9dee","block_type":"box","text":"reduce emissions. Carbon metrics may also vary due to being normalized by financial metrics that are prone to market volatility,","page_number":4,"box":{"x":39,"y":573,"width":834,"height":9}},{"id":"01382d92-5978-4888-89ae-fe1fe5d35004","block_type":"box","text":"rather than due to changes to the emissions profile of companies.","page_number":4,"box":{"x":39,"y":586,"width":427,"height":8}},{"id":"5d07afb3-2818-4281-9b90-9a7b29d49c52","block_type":"box","text":"4 Certain information © 2025 MSCI ESG Research LLC. Reproduced by permission. These metrics were developed using information","page_number":4,"box":{"x":39,"y":610,"width":858,"height":9}},{"id":"a9351469-0261-4d5a-8da0-19159ac1818d","block_type":"box","text":"from MSCI ESG Research LLC or its affiliates or information providers. 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The Information may only be used for your internal","page_number":4,"box":{"x":39,"y":670,"width":871,"height":9}},{"id":"fc39ca39-1aa3-4d2d-a96f-7f58eb279c6b","block_type":"box","text":"use, may not be reproduced or redisseminated in any form and may not be used as a basis for, or a component of, any financial","page_number":4,"box":{"x":39,"y":682,"width":826,"height":9}},{"id":"96da1b03-f854-43f1-b713-7a9e45d4c241","block_type":"box","text":"instruments or products or indices. Further, none of the Information can in and of itself be used to determine which securities to buy or","page_number":4,"box":{"x":39,"y":695,"width":877,"height":8}},{"id":"c87291a8-5126-4ab2-b9e2-7059370be6ab","block_type":"box","text":"sell or when to buy or sell them. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data","page_number":4,"box":{"x":39,"y":707,"width":874,"height":8}},{"id":"de88ef3a-d34e-4d1b-bf68-fa11795f8aff","block_type":"box","text":"herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if","page_number":4,"box":{"x":39,"y":719,"width":834,"height":9}},{"id":"d33d206c-9023-4951-9b40-2b1d25ce698b","block_type":"box","text":"notified of the possibility of such damages.","page_number":4,"box":{"x":39,"y":731,"width":278,"height":9}},{"id":"6d46f885-9a05-4217-844e-ca7706d6763a","block_type":"box","text":"Issued by Vanguard Asset Management, Limited which is authorised and regulated in the UK by the Financial Conduct Authority.","page_number":5,"box":{"x":39,"y":968,"width":641,"height":7}},{"id":"fce0ba65-f9e7-47e1-9666-f37e188edfd1","block_type":"box","text":"E019EN_092026","page_number":5,"box":{"x":873,"y":967,"width":71,"height":6}},{"id":"0cd6860b-dc88-491e-b991-503be57f0af3","block_type":"box","text":"© 2026 Vanguard Asset Management, Limited. All rights reserved.","page_number":5,"box":{"x":39,"y":978,"width":332,"height":8}},{"id":"6e6211af-387b-4cc7-b686-92f423c1a743","block_type":"box","text":"For more information contact your local sales team or:","page_number":5,"box":{"x":39,"y":323,"width":348,"height":9}},{"id":"d316aca1-eeca-4841-a536-1a3f4a9c2b05","block_type":"box","text":"Web: http://global.vanguard.com","page_number":5,"box":{"x":38,"y":335,"width":169,"height":8}},{"id":"a42467fb-7d10-42f9-b5f3-359e8b7ef0ef","block_type":"box","text":"Transfer agent (Europe): Tel.","page_number":5,"box":{"x":38,"y":346,"width":144,"height":7}},{"id":"30614bae-a506-459f-a25f-af3136678aae","block_type":"box","text":"00 353 1241 7144","page_number":5,"box":{"x":189,"y":346,"width":83,"height":6}},{"id":"8e2527ac-3891-4404-a527-f435625d0755","block_type":"box","text":"Adviser support: Tel. 0800 917 5508","page_number":5,"box":{"x":38,"y":356,"width":182,"height":8}},{"id":"9f5c440c-c2e9-4b9f-8e60-729e381bb3e2","block_type":"box","text":"Adviser support email: enquiries@vanguard.co.uk","page_number":5,"box":{"x":38,"y":367,"width":246,"height":7}},{"id":"36c3a396-7329-44e7-9060-37017e0bcaf2","block_type":"box","text":"Non advised personal investor email: Personal_investor_enquiries@vanguard.co.uk","page_number":5,"box":{"x":39,"y":377,"width":409,"height":8}},{"id":"5e61e894-f3fe-4834-a938-e2836e8a29d1","block_type":"box","text":"Important information","page_number":5,"box":{"x":39,"y":396,"width":126,"height":8}},{"id":"cec81f9f-6b02-4ff0-a7ba-7a2bc8d810d2","block_type":"box","text":"This is a marketing communication.","page_number":5,"box":{"x":38,"y":414,"width":198,"height":7}},{"id":"feb4d7c8-32b2-4745-a7bc-5b691d919eaf","block_type":"box","text":"This document is directed at professional investors and should not be distributed to, or relied upon by retail investors.","page_number":5,"box":{"x":38,"y":431,"width":658,"height":8}},{"id":"e185e33b-2e40-4510-b475-21663a95a9b5","block_type":"box","text":"For further information on the fund's investment policies and risks, please refer to the prospectus of the UCITS and to the KIID before making any fin","page_number":5,"box":{"x":39,"y":448,"width":744,"height":8}},{"id":"03bdca0d-ed3b-4649-ab11-6e940090e8bb","block_type":"box","text":"al investment decisions. 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