Benefits of investing in the State Street Climate ESG International Equity Fund

Benefits of Investing in the Fund include:

Diversified Investment

The Fund provides investors with a cost-efficient way of gaining diversified exposure to international stock markets, favouring companies with higher environmental, social and governance (ESG) ratings and away from those with high carbon emissions.

Invest Responsibly

Environmentally efficient, socially aware and well- governed companies are well positioned to withstand emerging risks and capitalise on new opportunities — especially longer term.

Aligns to the Paris Accord

The Fund is designed to broadly align with the Paris Accord's goals and prepare for the possible introduction of a carbon tax and other regulatory initiatives that could accompany the transition to a low-carbon economy.

Excludes controversial industries

The Fund excludes companies with involvement in controversial activities including tobacco and controversial (including nuclear) weapons.

Asset Stewardship Impact

The Investment Manager actively engages with portfolio companies on issues that promote long-term value creation.

Risk level

Very High

Investor suitability

Investors seeking capital growth over the long term through a well-diversified portfolio of international equities and who wish to mitigate risks associated with climate change and ESG.

About the Fund

The Fund invests in listed international securities in the MSCI World ex Australia Index. The Fund has a bias towards companies with higher environmental, social and governance (ESG) ratings and away from those with high carbon emissions.

The Fund seeks to achieve capital growth and income in line with the MSCI World ex Australia Index, subject to delivering climate and ESG objectives. The Fund is not expected to track the performance benchmark closely. There is no guarantee that this objective will be met.

Ethical Considerations

There are three ways factors such as labour standards or environmental, social or ethical considerations will influence the selection, retention or realisation of investments. Firstly, the Manager will exclude companies with significant business activities involving tobacco or controversial weapons and companies whose actions the Manager believes are violating compliance with the United Nations' (UN) Global Compact Principles. Secondly, the Manager will favour companies who are well positioned for global climate change including, but not limited to, those generating lower carbon emissions. Thirdly, the manager will favour companies who rate more strongly on its R-FactorTM score, which is a measure of Environmental, Social and Governance capabilities.

As part of one of the largest asset managers in the world, we represent near-permanent capital and are able to influence change in respect of socially responsible and sustainable business practices through engagement with investee companies or by using our, not insignificant, proxy voting power.

How we invest your money

The Fund invests in listed international securities in the MSCI World ex Australia Index. The Fund has a bias towards companies with higher environmental, social and governance (ESG) ratings and away from those with high carbon emissions.

The Fund's investment strategy is:

• To favour companies well positioned for climate change, including those which exhibit lower carbon emissions in the way of current emissions and future emissions (measured by fossil fuel reserves), produce green revenues, and are better positioned for the physical risks posed by climate change;

• To screen out a customised list of tobacco and controversial (including nuclear) weapons related securities and securities involved in extraction of, or power generation from, thermal coal, using databases and tools from multiple vendors;

• To screen out securities that exhibit poor adherence to international norms in relation to environmental protection, human rights, labour standards and corruption; and

• To favour companies with strong ESG ratings using State Street's ESG scoring methodology ("R- FactorTM).

The Investment Manager will normally rebalance the portfolio quarterly, although rebalances may occur less or more frequently. The rebalance will aim to maintain the Fund's ESG and climate characteristics while controlling for transaction costs and tracking error against the benchmark.

The Fund's investment strategy may include the use of options, futures and other derivatives to reduce risk or gain market exposure when necessary to do so. These instruments are not used speculatively and are never used to gear the Fund.

Asset allocation ranges*

• International Equities 95-100%

• Cash 0-5%

*Exposure may passively exceed these ranges due to market movement, investor inflows and outflows or for reasons outside of the Responsible Entity's control and, if this occurs, it will be corrected as soon as practicable.