Announcement: EU Sanctions following Russia's military aggression against Ukraine

Fidelity International is committed to the fight against financial crime and makes every effort to remain in full compliance with all applicable financial crime related laws, regulations, and standards in all of the jurisdictions in which we operate.

This includes complying with applicable sanctions laws and regulations issued regarding Russia and Belarus. As a matter of policy and in line with our clients’ and counterparties’ expectations, we will continue to implement the highest applicable level of sanctions compliance for our customers, funds, and investment vehicles.

Specifically, EU domiciled investment funds of Fidelity International (“Impacted Funds”) are required to comply with the prohibitions imposed by Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia's actions destabilizing the situation in Ukraine, as amended (the “Regulation 833/2014”), in particular by Council Regulation (EU) 2022/328 of 25 February 2022 amending Regulation No 833/2014 as well as the Council Regulation (EU) 2022/398 of 9 March 2022 amending Regulation (EC) No 765/2006 concerning restrictive measures in view of the situation in Belarus and the involvement of Belarus in the Russian aggression against Ukraine.

As a consequence, these Impacted Funds will no longer accept new investors or subscriptions of existing investors that are a Russian/Belarusian nationals or natural persons residing in Russia/Belarus or any legal person, entity or body established in Russia/Belarus as per Article 5f of the aforementioned regulation (“Affected Persons”). This restriction does not apply to EU nationals or to Russian/Belarusian nationals having a temporary or permanent residence permit in an EU Member State.

As per FAQ of the European Commission the purpose of the measure is to limit access to Russia entities and persons in Russia and to avoid circumvention of other refinancing prohibitions which are set out in the same Regulation.

Based on the above established policy, starting from 12 April 2022, Fidelity International expects its distribution network to act in accordance with the above.