BlackRock iShares MSCI USA SRI UCITS ETF

The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund's investments, which reflect the return of the MSCI USA SRI Select Reduced Fossil Fuel Index, the Fund’s benchmark index (Index). The Share Class also aims to reduce the impact of exchange rate fluctuations between the Fund's underlying portfolio currencies and Pound Sterling on your returns. The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in equity securities (e.g. shares) that make up the Index, combined with foreign currency contracts for currency hedging. The Index measures the performance of a sub-set of equity securities (e.g. shares) issued by US companies within the MSCI USA Index (Parent Index) with higher environmental, social and governance (ESG) ratings than other sector peers within the Parent Index, based on a series of exclusionary and ratings based criteria. Companies are excluded from the Index if they are identified as being involved in certain business lines/activities, as outlined in the Fund’s Prospectus. The Fund will take into account such ESG criteria only when selecting the securities to be held directly by the Fund. The Fund may obtain indirect exposure (through, including but not limited to, financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) and units in collective investment schemes) to securities considered not to satisfy these ESG criteria. Eligible constituents within each Global Industry Classification Standard (“GICS”) sector are ranked by the index provider and are weighted based on their free float adjusted market capitalisation. Free float-adjusted means that only shares available to international investors, rather than all of a company’s issued shares, are used in calculating the Index. Free float-adjusted market capitalisation is the share price of the company multiplied by the number of shares available to international investors. The Index targets 5% issuer exposure capping. In order to reduce the risk of non-compliance with the 5% threshold due to market movements, the weight of each issuer is capped at 4.5% at the point of Index construction and at each rebalancing. The Fund's investment in the equity securities that make up the Index will, at the time of purchase, comply with the ESG requirements of the Index. Where securities no longer meet such requirements, the Fund may continue to hold them until they cease to form part of the Index and it is practicable to sell them. The Fund intends to replicate the Index by holding the equity securities which make up the Index, in similar proportions to it. The investment manager may use FDIs to help achieve the Fund’s investment objective. FDIs may be used for direct investment purposes. The use of FDIs is expected to be limited for this Share Class. Recommendation: This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index. Your shares will be distributing shares (i.e. income will be paid on the shares semi-annually).