L&G All Commodities ETF

The investment objective of the Fund is to provide an exposure to futures contracts on physical commodities. In order to achieve this investment objective, the Fund will seek to track the performance of the Bloomberg Commodity Index Total Return subject to the deduction of the ongoing charges and other costs associated with operating the Fund. In order to provide the Share Class with exposure to the Index, the Company will primarily enter into total return swap agreements with one or more swap counterparties (i.e. investment banks) pursuant to which the Share Class receives the financial performance of the Index from the swap counterparties in return for a fee.