abrdn Future Real Estate UCITS ETF This is a marketing communication. Please refer to the Prospectus of the UCITS/Information document and the Key Investor Information Document (KIID) or Key Information Document (KID) as applicable before making any final investment decisions. Acc USD 31 January 2025 Key facts Fund name abrdn Future Real ObjectiveEstate UCITS ETF To generate growth over the long term (5 years or more) by investing in listed real estate investment Index nameFTSE EPRA Nareit trusts ("REITs") and equities (company shares) of companies engaged in real estate-related activitiesDeveloped Net Index globally. Manager/Investment abrdn Investments Performance Target: To outperform the FTSE EPRA NAREIT Developed Net Index (the "Benchmark Index")Manager Limited before charges. There is however no certainty or promise that the Fund will achieve the Performance Depositary/Custodian State Street Custodial Target. Services (Ireland) The Investment Manager believes this is an appropriate target for the Fund based on the investment Limited - Ireland policy of the Fund and the constituents of the Benchmark Index. Fund size USD 87.23m Shareclass size USD 87.10m Investment policy Shares outstanding8400000 - The Fund will invest at least 80% in listed real estate holding and development companies and REITs listedTER 0.40% on global stock exchanges ("Companies") that make up the Benchmark Index. - The Fund may invest up to 20% in listed Companies globally that are not constituents of the Benchmark Base currencyUSD Index but which operate in sectors researched by the abrdn Real Estate Global HouseView (as outlined Inception date 22 February 2023 below). Management approach Active - Physical - The abrdn ESG House Score is used to quantitatively identify and exclude those Companies exposed to the highest ESG risks.Exposure Global Real Estate - The Investment Manager applies a set of Company exclusions to rule out a narrow, defined list of Rebalance frequency Quarterly unacceptable activities and behaviours which are related to the UN Global Compact, State OwnedUCITS No Enterprises (SOE), weapons, tobacco, thermal coal, oil and gas and electricity generation. - Taken together, the Fund will exclude at least 20% of the Benchmark Index from its investment universe. Fund typeICAV More detail on this overall process is captured below and within abrdn's Future Real Estate UCITS ETF Tax status DEU,ITA,CHE,AUT,GBR Investment Approach, which is published at www.abrdn.com under "Fund Centre". ISA eligible (and Yes - The Fund may invest up to 10% in other funds (including those managed by abrdn), moneymarket equivalent for other instruments and cash for liquidity management. These investments may not comply with the sustainable countries) approach applied by the Fund. SIPP eligible (andYes Performance equivalent for other countries) 120 Index ticker R8TA DomicileIreland 115 Risk and Reward profile Lower risk Higher risk 110 Typically lower rewardsTypically higher rewards 105 100This indicator reflects the volatility of the fund’s 95 share price over the last five years. See Key Investor Information Document (KIID) for details. 90 Key risks (a) The value of investments and the income 85 from them can fall and investors may get back less than the amount invested. Sep 23Mar 23 Mar 24 Feb 24 Jun 23 Jun 24 Apr 23 Apr 24Jul 23 Jul 24May 24Aug 24Oct 23Jan 24 Jan 25 Dec 23 Sep 24 Feb 23 Nov 23 May 23 Aug 23 (b) The fund invests in equity and equity related securities. These are sensitive to variations in the stock markets which can Fund (Gross) (%) Benchmark (%) be volatile and change substantially in short periods of time. Cumulative and annualised performance (c) A concentrated portfolio may be more 1 month6 months Year to date1 year volatile and less liquid than a more broadly diversified one. The fund's Fund (Gross)1.55 -0.35 1.55 4.55 investments are concentrated in a Performance Comparator 1.740.57 1.74 6.99 particular country or sector, or closely related group of industries or sectors. Discrete annual returns - year to 31/1 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 Fund (Gross) 4.55 n/a n/a n/a n/a n/a n/a n/an/a n/a Performance Comparator6.99 n/a n/a n/a n/a n/a n/a n/an/a n/a Performance Data: Share Class USD Accumulating ETF. Investor Service Benchmark history: Benchmark – FTSE EPRA Nareit Developed Net Index (USD) 45565+ 44 (0)1224 425255 (UK) + 352 4640 1 0820 (International) Fax Dealing Service + 352 2452 9056www.abrdn.com Management process (d) Applying ESG and sustainability criteria inthe investment process may result in the - The Fund is actively managed.exclusion of securities within the fund's - Through the application of abrdn's Future Real Estate UCITS ETF Investment Approach the Fund commits to having a minimum of 10% in Sustainable Investments. Furthermore, the Fund targets an ESG rating thatbenchmark or universe of potential is better than the Benchmark Index.investments. The interpretation of ESG - Engagement with external Company management teams is used to evaluate the ownership structures,and sustainability criteria is subjective governance and management quality of those Companies in order to inform portfolio construction.meaning that the fund may invest in - It utilises abrdn's proprietary Real Estate Global HouseView which, based on the themes that the companies which similar funds do not Investment Manager expects will drive future investment demand aims to evaluate the potential for (and thus perform differently) and which outperformance / underperformance of individual constituents of the broader real estate universe, do not align with the personal views of composed mainly from the Benchmark Index. The abrdn Real Estate Global HouseView considers diverse any individual investor. factors (macroeconomics, capital markets, interest rates and real estate fundamentals (including supply/ (e) Dividend payment policies of the demand balance and rent trends) coupled with extensive research on relative valuation among real REITs in which the fund invests are not estate sectors to identify expected returns by region, country and sector, to generate relative rankings byrepresentative of the dividend payment countries and sectors. Individual holdings are then typically selected using the following principles:policy of the fund. - Overweighting stocks in segments, countries and regions where the abrdn Real Estate Global HouseView(f) The use of derivatives carries the risk is positive (superior relative returns are expected);of reduced liquidity, substantial loss - Underweighting those stocks where it is negative (inferior relative returns are expected); and - Taking neutral exposure where it is neutral (expected returns are neither superior nor inferior) or stocks and increased volatility in adverse are not within the coverage of the abrdn Real Estate Global HouseView. market conditions, such as a failure - In order to achieve its objective, the Fund will take positions whose weightings diverge from the amongst market participants. The use of Benchmark Index or invest in securities which are not included in the Benchmark Index. The investments derivatives may result in the fund being of the Fund may deviate significantly from the components and their weightings in the Benchmark Index, leveraged (where market exposure and however the Fund's risk profile is not ordinarily expected to deviate significantly from the Benchmark thus the potential for loss by the fund Index over the longer term.exceeds the amount it has invested) andin these market conditions the effect ofleverage will be to magnify losses. Top Ten Holdings Sector (%) Prologis 6.6 Welltower 5.2 Real Estate 98.7 Equinix 5.1 Simon Property Group 3.3 Digital Realty3.2 Information Technology 0.4 Public Storage2.9 Realty Income 2.9 Vonovia 2.8 Cash 0.8 Goodman 2.7 Extra Space 2.0 Assets in top ten holdings 36.7Country (%) United States of America 65.9 Australia5.0 Germany 4.8 Japan4.7 United Kingdom 4.1 France 3.1 Canada 2.4 Belgium 2.0 Other7.1 Cash 0.8 Source : abrdn 31/01/2025 Figures may not always sum to 100 due to rounding. Trading information ExchangeCurrency ISINSedol Ticker Bloomberg code Deutsche Borse XetraUSDIE000GGQK173 BQT5FQ8 R8TUSD.DE R8TA GY Deutsche Borse XetraEUR IE000GGQK173 BLKFRK0 R8T.DE R8T GY London Stock Exchange GBX IE000GGQK173 BQ7WWN7 AREG.L AREG LN SIX Swiss Exchange CHF IE000GGQK173 BLKFTL5 ARECC.S AREC SE Country registration Investor Service Austria + 44 (0)1224 425255 (UK) + 352 4640 1 0820 (International) Belgium Fax Dealing Service + 352 2452 9056 Denmark Finland www.abrdn.com France Germany Iceland Ireland Italy Luxembourg Netherlands Norway Sweden Switzerland United Kingdom The fund is a sub fund of abrdn III ICAV, an open-ended umbrella fund which is regulated by the Central Bank of Ireland and with segregated liability between sub- funds registered in the Republic of Ireland (no. C469164) at 70 Sir John Rogerson’s Quay, Dublin 2. This fund is categorised as Article 8 under SFDR. Details of abrdn’s Sustainable and Responsible Investment Approach are published at www. abrdn.com under Sustainable Investing. This fund concerns the acquisition of units/shares in a fund, and not in a given underlying asset such as a building or shares of a company. Any decision to invest should take into account all objectives of the fund. To help you understand this fund and for a full explanation of risks and the overall risk profile of this fund and the share classes within it, please refer to the Key Investor Information Documents available in the local language, and Prospectus available in English, which are available at abrdn.com. The Prospectus also contains a glossary of key terms used in this document. A summary of investor rights can be found in English under Group Policies on the Manager’s website (https://www.carnegroup.com/wp-content/uploads/2022/03/ Carne-Group-Summary-of-Investor-Rights-1.pdf) This information is intended to be of general interest only and should not be considered as an offer, investment recommendation or solicitation to deal in the shares of any securities or financial instruments. Subscriptions for shares in the fund may only be made on the basis of the latest prospectus, relevant Key Investor Information Document (KIID) and, in the case of UK investors, the Supplementary Information (SID) for the fund which provides additional information as well as the risks of investing. These may be obtained free of charge from abrdn. All documents are also available on abrdn.com. Further information about the abrdn Global Real Estate Active Thematics UCITS ETF can be obtained from the prospectus, supplement to the prospectus and latest annual and semi-annual reports once available. These documents are available in English, are free of charge and can be obtained along with other information such as unit prices, from abrdn.com, the Manager, or the paying agent: EU/EEA territories in which the fund is authorised for sale: europeanfacilitiesagent@carnegroup.com or UK facilities agent: UKfacilities@carnegroup.com The Manager may terminate arrangements for marketing the fund under the Cross-border Distribution Directive denotification process. In the United Kingdom: The conditions set out in regulation 63 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 have been satisfied with respect to the fund, with the result that the fund is treated as a recognised scheme for the purposes of Part XVII of the Financial Services and Markets Act 2000. For so long as the fund is treated as a recognised scheme, the fund may be promoted, and Shares in the fund may be marketed, to the general public in the United Kingdom, notwithstanding the United Kingdom’s withdrawal from the European Union. This document and the information contained herein may only be distributed by an Authorised Person in accordance with the FCA rules. The fund has been authorised for public sale in certain jurisdictions and private placement exemptions may be available in others. It is not intended for distribution or use by any person or entity that is a citizen or resident of or located in any jurisdiction where such distribution, publication or use would be prohibited. Any data contained herein which is attributed to a third party (“Third Party Data”) is the property of (a) third party supplier(s) (the “Owner”) and is licensed for use by abrdn*. Third Party Data may not be copied or distributed. Third Party Data is provided “as is” and is not warranted to be accurate, complete or timely. To the extent permitted by applicable law, none of the Owner, abrdn* or any other third party (including any third party involved in providing and/or compiling Third Party Data) shall have any liability for Third Party Data or for any use made of Third Party Data. Neither the Owner nor any other third party sponsors, endorses or promotes the fund or product to which Third Party Data relates. * abrdn means the relevant member of abrdn group, being abrdn plc together with its subsidiaries, subsidiary undertakings and associated companies (whether direct or indirect) from time to time. FTSE International Limited (“FTSE”) © FTSE 2024. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under license. All Rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for the errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent. Before making an investment in the fund, investors should take steps to ensure that they fully understand the investment risks associated with the fund and have made an independent assessment of the appropriateness of an investment in the fund in light of their own objectives and circumstances. abrdn Investments Limited or any other party is not acting as your financial adviser or in any other fiduciary capacity in respect to this proposed transaction. The information contained in this document is based on material Carne Global Fund Managers (Ireland) Limited and abrdn Investments Limited believe to be reliable. Please note that no representation is being made that the fund is likely to achieve returns in the future similar to any other funds for which abrdn Investments Limited or any other member of abrdn Group is Investment Manager or Distributor. abrdn Group comprises abrdn plc and its subsidiaries. Opinions expressed above are subject to change without notice and do not take in to account the particular investment objectives, financial situation or needs of individual investors. The communication may only be transmitted to persons to which the Manager or the Investment Manager reasonably believe they are permitted to communicate financial promotions related to the fund or otherwise promote the fund. abrdn Investments Limited is registered in Scotland (SC108419) at 1 George Street, Edinburgh, United Kingdom, EH2 2LL. It is authorised and regulated in the United Kingdom by the Financial Conduct Authority and is the Investment Managerand Distributorfor abrdn III ICAV. Carne Global Fund Managers (Ireland) Limited, registered in the Republic of Ireland (Company no. 377914) at 2nd Floor, Block E Iveagh Court, Harcourt Road, Dublin 2. It is regulated by the Central Bank of Ireland and is the Authorised Investment Fund Manager (“the Manager”) for abrdn III ICAV.