div style="margin-top:6pt;"span style="color:#000000;font-family:arial;font-size:8.55pt"The Fund seeks to track the investment results of the J.P. Morgan /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"GBI-EM Global Diversified 15% Cap 4% Floor Index (the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Underlying Index/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"), which tracks the performance of local /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"currency-denominated sovereign bond markets of emerging /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"market countries. All bonds included in the Underlying Index are /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"selected according to a set of rule-based inclusion criteria /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"regarding issue size, bond type, maturity, and liquidity. The /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"securities included in the Underlying Index are rebalanced on the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"last weekday of the month. Eligible countries included in the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Underlying Index are determined by JPMorgan Chase amp; Co. or its /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"affiliates (the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Index Provider/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt" or /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"J.P. Morgan/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt") based on the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Index Provider’s definition of emerging market countries./span/divdiv style="margin-top:6pt;"span style="color:#000000;font-family:arial;font-size:8.55pt"Eligible issuer countries must have (1) gross national income /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"(/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"GNI/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt") below the Index Income Ceiling (/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"IIC/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt") for three /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"consecutive years or (2) an Index Purchasing Power Parity Ratio /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"(the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"IPR/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt") below the Index Provider's emerging market threshold /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"for three consecutive years. An existing country may be /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"considered for removal from the Underlying Index if its GNI per /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"capita is above the IIC for three consecutive years and its long-term/spanspan style="color:#000000;font-family:arial;font-size:8.55pt" sovereign credit rating from Standard amp; Poor's Global /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Ratings (/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Samp;P Global/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"), Moody's Investors Service, Inc. /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"(/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Moody's/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"), and Fitch Ratings, Inc. (/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Fitch/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt") is A-/A3/A- or above /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"for three consecutive years. For purposes of compiling the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Underlying Index, individual country weights are capped at /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"maximum 15% and floored at minimum 4.0%. Eligible individual /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"securities must have a minimum face amount outstanding of U.S. /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"$1 billion equivalent for onshore local currency bonds and U.S. /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"$500 million for global bonds (offshore currency linked bonds). All /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"component securities must have at least 2.5 years to maturity /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"from the inclusion date and a remaining maturity of 6 months or /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"greater at the time of rebalancing to remain eligible for the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Underlying Index. Please see the SAI for the Index Provider's /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"definitions of GNI and IIC./span/divdiv style="margin-top:6pt;"span style="color:#000000;font-family:arial;font-size:8.55pt"Floating-rate issues, capitalization/amortizing bonds, and bonds /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"with callable, puttable or convertible features are not eligible for /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"inclusion in the Underlying Index./span/divdiv style="margin-top:6pt;"span style="color:#000000;font-family:arial;font-size:8.55pt"As of October 31, 2025, the Underlying Index included securities /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"issued by Brazil, Chile, China, Colombia, Czech Republic, the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Dominican Republic, Hungary, India, Indonesia, Malaysia, Mexico, /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Peru, Poland, Romania, Serbia, South Africa, Thailand,  Turkey, /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"and Uruguay./span/divdiv style="margin-top:7pt;"span style="color:#000000;font-family:arial;font-size:8.55pt"BFA uses an indexing approach to try to achieve the Fund’s /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"investment objective. The Fund does not try to /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"beat/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt" the index it /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"tracks and does not seek temporary defensive positions when /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"markets decline or appear overvalued./span/divdiv style="line-height:10.45pt;text-align:left;"span style="color:#000000;font-family:arial;font-size:8.55pt"Indexing may eliminate the chance that the Fund will substantially /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"outperform the Underlying Index but also may reduce some of the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"risks of active management, such as poor security selection. /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Indexing seeks to achieve lower costs and better after-tax /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"performance by aiming to keep portfolio turnover low in /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"comparison to actively managed investment companies./span/divdiv style="margin-top:7pt;"span style="color:#000000;font-family:arial;font-size:8.55pt"BFA uses a representative sampling indexing strategy to manage /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"the Fund. /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"“/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Representative sampling/spanspan style="color:#000000;font-family:arial;font-size:8.55pt"”/spanspan style="color:#000000;font-family:arial;font-size:8.55pt" is an indexing strategy that /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"involves investing in a representative sample of securities or other /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"instruments that collectively has an investment profile similar to /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"that of an applicable underlying index. The instruments selected /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"are expected to have, in the aggregate, investment characteristics /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"(based on factors such as market value and industry weightings), /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"fundamental characteristics (such as return variability, duration /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"(/spanspan style="color:#000000;font-family:arial;font-size:8.55pt;font-style:italic"i.e./spanspan style="color:#000000;font-family:arial;font-size:8.55pt", an instrument's price sensitivity to a change in interest /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"rates), maturity or credit ratings and yield) and liquidity measures /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"similar to those of an applicable underlying index. The Fund may /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"or may not hold all of the components of the Underlying Index./span/divdiv style="margin-top:7pt;"span style="color:#000000;font-family:arial;font-size:8.55pt"The Fund will invest at least 80% of its assets in the component /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"securities of the Underlying Index, and the Fund will invest at least /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"90% of its assets in fixed income securities of the types included /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"in the Underlying Index that BFA believes will help the Fund track /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"the Underlying Index. The Fund will invest no more than 10% of its /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"assets in futures, options and swaps contracts that BFA believes /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"will help the Fund track the Underlying Index as well as in fixed /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"income securities other than the types included in the Underlying /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Index, but which BFA believes will help the Fund track the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"Underlying Index. Cash and cash equivalent investments /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"associated with a derivative position will be treated as part of that /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"position for the purposes of calculating the percentage of /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"investments included in the Underlying Index. The Fund seeks to /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"track the investment results of the Underlying Index before fees /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"and expenses of the Fund./span/divdiv style="margin-top:7pt;"span style="color:#000000;font-family:arial;font-size:8.55pt"The Underlying Index is sponsored by J.P. Morgan, which /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"is/spanspan style="color:#000000;font-family:arial;font-size:8.55pt;line-height:10.45pt" /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"independent of the Fund and BFA. The Index Provider /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"determines the composition and relative weightings of the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"components of the Underlying Index and publishes information /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"regarding the market value of the Underlying Index./span/divdiv style="margin-top:7pt;"span style="color:#000000;font-family:arial;font-size:8.55pt;font-weight:bold"Industry Concentration Policy./spanspan style="color:#000000;font-family:arial;font-size:8.55pt" The Fund will concentrate its /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"investments (/spanspan style="color:#000000;font-family:arial;font-size:8.55pt;font-style:italic"i.e./spanspan style="color:#000000;font-family:arial;font-size:8.55pt", hold 25% or more of its total assets) in a /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"particular industry or group of industries to approximately the /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"same extent that the Underlying Index is concentrated. For /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"purposes of this limitation, securities of the U.S. government /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"(including its agencies and instrumentalities), repurchase /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"agreements collateralized by U.S. government securities, and /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"securities of state or municipal governments and their political /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"subdivisions are not considered to be issued by members of any /spanspan style="color:#000000;font-family:arial;font-size:8.55pt"industry./span/div