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| Taxation Conditions | The NikkoAM-ICBCSG China Bond ETF (the "Fund") on 25 January 2021 was approved under the Enhanced-Tier Fund Tax Incentive Scheme (hereinafter referred to as an "Enhanced-Tier Fund") by the Monetary Authority of Singapore under Section 13X of the Income Tax Act, Chapter 134 of Singapore. The effective date of the Fund as an Enhanced-Tier Fund was 18 November 2020. |
| Taxation Conditions | The tax exemption status will be for the life of the Fund Structure, provided the Fund Structure continues to meet all conditions and terms set out in the relevant MAS circular, and the relevant Income Tax legislation. |
| Taxation Conditions | Distributions made by the Enhanced-Tier Fund out of tax-exempt income should also be exempt from Singapore income tax in the hands of Unitholders. |