Fidelity Institutional Liquidity Fund - The Euro Fund Class R-UK Flex EUR Distribution

The fund aims to maintain capital value and liquidity whilst producing a return to the investor in line with money market rates. Investment Policy: The fund invests in a diversified range of short-term instruments, including high quality money market instruments (including government securities, bank obligations, commercial paper and other short-term obligations), high quality securitisations and asset-backed commercial paper, deposits, repurchase agreements and reverse repurchase agreements, and units or shares in eligible money market funds. The fund aims to achieve an ESG score of its portfolio greater than that of its investment universe. In addition, through the investment management process, the Investment Manager aims to ensure that investee companies follow good governance practices. Investment Process: Investments will have a credit quality consistent with maintaining Moody's Aaa-mf rating and a rating of AAAm by Standard & Poor’s for the fund. Such ratings were solicited by the manager of the fund and financed by either the manager or the fund. On an ongoing basis, the fund will consider a wide range of environmental and social characteristics such as carbon intensity, carbon emissions, energy efficiency, water and waste management, biodiversity, product safety, supply chain, health and safety and human rights. For more information, please see “Sustainable Investing and ESG Integration” and the Sustainability Annex. Base Currency: EUR. Benchmark: N/A. The fund is actively managed without reference to a benchmark. Distribution: Income earned by the fund is reinvested in additional shares or paid to shareholders on request