Benefits of investing in the ClearBridge RARE Infrastructure Income Fund

An investment in the Fund has significant benefits including:

• Your money is managed by ClearBridge's investment professionals who have access to investment techniques, investment opportunities and markets that may not be accessible to all investors

• Generally you can apply to withdraw your investment on any Business Day

• Fund managers can usually invest at a lower cost than individual investors
• The Fund aims but does not guarantee to generate dividends, interest, foreign tax credits and capital gains for investors.

The Fund may suit investors with a long-term investment horizon, whose investment objective is to achieve growth in the value of their investment, and who are willing to accept an investment strategy involving a high level of volatility and risk in the management of their investment.

About the Fund

The ClearBridge RARE Infrastructure Income Strategy aims to provide investors with long-term inflation-linked capital growth over an economic cycle with a focus on providing reliable income. This is achieved by investing in a range of listed infrastructure securities across a number of infrastructure sub-sectors such as gas, electricity & water utilities, toll-roads, airports, ports, rail and communications spread across geographic regions in both the developed and emerging markets.

The Fund's investment objective is to provide investors with regular and stable income, comprised of dividends, distributions and interest, plus capital growth from a portfolio of global infrastructure securities while hedging the Fund's currency exposure back to Australian Dollars (AUD).

How we invest your money

The Fund will hold a diverse range of global infrastructure securities across a number of infrastructure sub- sectors such as gas, electricity and water utilities, renewables, toll-roads, airports, rail and communication infrastructure and across geographic regions.

The Fund's targeted holdings will be diversified by sector and regional exposures and generally in the proportions outlined in the table of page 5 of the PDS.