Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Vanguard Global Government Bond UCITS GBP Hedged Accumulating ETF (the "Fund") ISIN: IE000AI6QNJ5 A sub-fund of Vanguard Funds PLC Manager: Vanguard Group (Ireland) Limited (“VGIL”) Objectives and investment policyminimise the risks associated with movements in currency exchange • The Fund employs a passive management – or indexing – investment rates, where the Fund invests in securities denominated in currencies approach, through physical acquisition of securities, and seeks to track the other than the listing currency, but these risks cannot be eliminated performance of the Bloomberg Global Treasury Developed Countries entirely. As this document relates to a share class where such techniques Float Adjusted Index (the “Index”). are used, the performance (see "Performance") of this share class is • The Fund will invest in a portfolio of local currency government bonds shown against the currency hedged version of the Index. (including callable bonds) from developed countries (as determined by the • The Fund is appropriate for long-term investment. You should have an index provider) that insofar as possible and practicable consists of a investment horizon of at least 3 years. representative sample of the component securities of the Index. • Income from the ETF Shares will be reinvested and reflected in the price • The index is designed to reflect the universe of float adjusted fixed-rate, of shares in the ETF. investment-grade, local currency government debt of developed (as determined by the index provider) countries. The bonds must have a • Portfolio transaction costs will have an impact on performance. maturity of at least one year. • ETF Shares in the Fund can be bought or sold on a daily basis (save on • To a lesser extent the Fund may invest in similar types of bonds outside certain bank / public holidays and subject to certain restrictions described the Index, but whose risk and return characteristics closely resemble thein Appendix 1 of the Prospectus or in a separate Supplement). ETF Shares risk and return characteristics of constituents of the Index or of the Index are listed on one or more stock exchange(s). Subject to certain exceptions as a whole. set out in the Prospectus, investors who are not Authorised Participants • The Fund may use derivatives in order to reduce risk or cost and/or may only buy or sell ETF Shares through a company that is a member of generate extra income or growth. A derivative is a financial contract whose a relevant stock exchange at any time when that stock exchange is open value is based on the value of a financial asset (such as a share, bond, or for business. A list of the days on which shares in the Fund cannot be currency) or a market index. bought or sold is available on https://fund-docs.vanguard.com/holiday-calendar-vanguard-funds-plc-ETFs.pdf • The base currency of the Fund is USD. For further information about the objectives and investment policy of • The Fund attempts to remain fully invested and hold small amounts of cash the Fund, as well as the limited relationship with the Index provider, except in extraordinary market, political or similar conditions where the please see the supplement for the Fund ("Supplement") and Appendix Fund may temporarily depart from this investment policy to avoid losses. 6 of the Vanguard Funds plc prospectus (the "Prospectus") on our • The Fund invests in securities which are denominated in currencies other website at https://global.vanguard.com than the base currency. Movements in currency exchange rates can affect the return of investments. Currency hedging techniques are used to Risk and reward profileLower risk Higher riskThe risk and reward indicator does not take account of the following risks of investing in the Fund:Typically lower rewards Typically higher rewards • Counterparty risk. The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or 1 234 5 6 7 other instruments, may expose the Fund to financial loss. • Liquidity risk. Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily. This could cause the • This indicator is based on historical data and may not be a reliable Fund to incur higher costs when buying or selling investments or could indication of the future risk profile of the Fund.mean that the Fund is not able to buy or sell investments when it would • The risk category shown is not guaranteed and may change over time. like to do so. • The lowest category does not mean “risk free”. • Index tracking risk. The Fund is not expected to track the performance of the Index at all times with perfect accuracy. The Fund is, however, • The Fund is rated 4 due to the nature of its investments which include theexpected to provide investment results that, before expenses, generally risks listed below. These factors may impact the value of the Fund's correspond to the price and yield performance of the Index. investments or expose the Fund to losses. - The value of bonds and fixed income-related securities is affected by• Index sampling risk. The Fund uses an index sampling technique whereby influential factors such as interest rates, inflation, credit spreads and a representative sample of securities are selected to represent the Index. volatility which, in turn, are driven by other factors including political, This means there is the risk that the securities selected for the Funds may economic news, company earnings and significant corporate events. not, in the aggregate, approximate the full index. - Movements in currency exchange rates can adversely affect the return • Credit risk. The issuer of a financial asset held within the Fund may not of your investment. Currency hedging may be used but is not guaranteedpay income or repay capital to the Fund when due. to completely eliminate currency risk. • Inflation risk. The value of your investments may not be worth as much in - Investment risk is concentrated in specific sectors, countries, currencies the future due to changes in purchasing power resulting from inflation. or companies. This means the Fund is more sensitive to any localised For further information on risks please see the “Risk Factors” section economic, market, political or regulatory events. of the Prospectus on our website at https://global.vanguard.com - Use of derivatives. The use of derivatives could increase or reduce exposure to underlying assets and result in greater fluctuations of the Fund's net asset value. Charges The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Investors who are not Authorised Participants ("APs") may have to pay fees to a stockbroker when you buy or sell on stock exchange(s). The fees are Entry charge* None available directly from your stockbroker and are not charged by, or payable to, the Fund. Exit charge* None The entry and exit charges shown are maximum figures and in some cases you might pay less. Investors can find out the actual entry and exit charges This is the maximum that might be taken out of your money before it is from their distributor and or adviser. invested / before the proceeds of your investment are paid out. APs dealing directly with the Fund will pay related transaction costs. For cash creations or redemptions there may be a cash transaction fee of a maximum Charges taken from the Fund over a year of 2% which is paid to the Fund, and all transactions will have associated transaction costs. Investors who are not APs will not pay these fees or costs. Ongoing charges 0.10% * In the case of a large subscription or redemption by an investor, that investor may have to pay an additional charge (e.g. anti-dilution levy) to the Charges taken from the Fund under certain specific conditions Fund to cover transaction costs incurred. None Ongoing charges have not been based on an ex-post calculation as the Performance fee share class was launched less than one calendar year ago. Ongoing charges have accordingly been estimated based on the expected total of charges that will be taken from the assets of the Fund over the course of a year. It excludes portfolio transaction costs. For further information about charges, please see the Supplement and the sections entitled “Buying Shares”, “Redeeming Shares”, and “Fees and Expenses” in the Prospectus on our website at https://global.vanguard.com Past performance• Shares in the Fund were first issued in 2025.1.2• This share class was launched in 2025. 1 0.8 Per cent (%) There is insufficient data to provide a useful indication of past performance to investors.0.6 0.4 0.202020 2021 2022 2023 2024 ◼FundPractical information • Depositary: Brown Brothers Harriman Trustee Services (Ireland) Limited. • Documents, prices of shares and further information: You can obtain copies of the Prospectus and the latest annual and semi-annual report and accounts for Vanguard Funds plc (“VF”) along with the latest published prices of shares and other practical information, from VF c/o Brown Brothers Harriman Fund Administration Services (Ireland) Limited, 30 Herbert Street, Dublin 2, D02 W329, Ireland or from our website at https://global.vanguard.com. Information on the Fund's portfolio disclosure policy and publication of the iNAV can be obtained at https://global.vanguard.com/portal/site/portal/ucits- documentation. The documents are available in English and are free of charge. • Prices: The last published prices of shares in the Fund are also available from the FT's website www.ft.com or https://global.vanguard.com • Tax: VF is subject to the tax laws of Ireland. Depending on your country of residence, this may have an impact on your personal tax position. You are recommended to consult your professional tax adviser. • Liability: VGIL may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for VF. • Sub-funds: VF is an umbrella fund with a number of sub-funds. This document describes a sub-fund of VF. The prospectus and periodic reports are prepared for the entire company. • VF is an umbrella Fund with segregated liability between sub-funds. This means that the holdings of the Fund are maintained separately under Irish law from holdings of other sub-funds of VF and your investment in the Fund will not be affected by any claims against any other sub-fund of VF. • Shares: ETF Shares in the Fund may not be exchanged for ETF Shares in any other sub-funds of VF, however APs may, with prior approval, switch ETF Shares in the Fund to a different share class of the same Fund, where other share classes are available. • Information about other share classes offered by VF can be found in the prospectus or from our website at https://global.vanguard.com. • Further information on the Index Provider please see the Fund's prospectus. • Remuneration policy: Details of VGIL's Remuneration Policy are available at https://www.ie.vanguard/content/dam/intl/europe/documents/ch/en/ucits-v- remuneration-policy.pdf including: (a) a description of how remuneration and benefits are calculated; and (b) the identities of persons responsible for awarding remuneration and benefits. A paper copy of these details may be obtained, free of charge, on request from VGIL at 70 Sir John Rogerson's Quay, Dublin 2, Ireland. The Fund is authorised in Ireland and regulated by the Central Bank of Ireland (the “Central Bank”). VGIL is authorised in Ireland and regulated by the Central Bank. This key investor information is accurate as at 27/03/2025.