Goldman Sachs Alpha Enhanced Emerging Markets Equity Active UCITS ETF USD Acc

The Sub-Fund seeks long-term capital appreciation by actively investing primarily in equity securities of emerging market companies. ▪ The Sub-Fund is actively managed and will, under normal circumstances, invest at least 70% of its net assets in equity and/or equity related securities which provide exposure to companies that are domiciled in, or which derive the predominant proportion of their revenues or profits from emerging markets. ▪ Subject to the Investment Manager’s multi-factor proprietary quantitative investment model, the Sub-Fund may invest in equity and/or equity related securities of companies regardless of their respective market capitalisation(s) and/or sector(s). Equity and equity related securities may include common stock, preferred stock, warrants and other rights to acquire stock and American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”). ▪ The Investment Manager implements a multi-faceted approach to environmental, social and governance (“ESG”) considerations in the SubFund’s investment process to promote a transition to a lower carbon economy by managing climate transition risk relative to the Benchmark via proprietary climate metrics, as further detailed in the pre contractual disclosure for the Sub-Fund contained within the Supplement. ▪ The Sub-Fund may use derivatives for efficient portfolio management purposes, to help manage risks. A derivative instrument is a contract between two or more parties whose value depends on the rise and fall of the underlying asset. ▪ The Sub-Fund is actively managed and references the MSCI Emerging Markets Index (Net Total Return) (the “Benchmark”) as a performance comparator. ▪ The Sub-Fund will seek to use the Benchmark as a performance comparator and aims to achieve a moderate return in excess of the Benchmark in the long term, however, the Sub-Fund positions may meaningfully differ relative to the performance Benchmark which may cause the return of the Sub-Fund to not exceed the return of the Benchmark or underperform the Benchmark. The Benchmark consists of large and mid-cap stocks representation across emerging markets countries. The constituents of the Benchmark and geographical exposure of the Benchmark’s securities may be subject to change over time. ▪ In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares) directly with the Sub-Fund. Other investors can deal in shares (or interests in shares) daily through an intermediary on stock exchange(s) on which the shares are traded. ▪ Income (net of expenses) is distributed on a semi-annual basis. ▪ The Sub-Fund currency is USD. The share class currency is USD. ▪ Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors. Please refer to the “Risk Information” section of the Prospectus for further information. ▪ For full investment objective and policy details see the Supplement.