HSBC Global Funds ICAV Sustainable Development Bank Bonds UCITS ETF Marketing communication | Monthly report 31 January 2025 | Share class ETFC This product is based overseas and is not subject to UK sustainable investment labelling and disclosure requirements. Share class detailsInvestment objectiveKey metrics The Fund aims to provide regular income and capital growth by tracking as closely as possible NAV per share USD 10.37 the performance of the FTSE World Broad Investment-Grade USD Multilateral Development Bank Yield to maturity 4.40% Bond Capped (the Index). The Fund is classified under Article 9 of SFDR.Fund factsUCITS V compliant YesInvestment strategy UK reporting fund status Yes(UKRS) The Fund achieves its sustainable investment objective by tracking the Index which has a methodology aligned with that sustainable objective and so the Index has been designated as theISA eligible Yes Fund’s reference benchmark for the purpose of attaining that sustainable objective.Dividend treatment Accumulating The Fund will invest in bonds issued by select multilateral development banks the proceeds ofDealing frequency Daily which financially support sustainable economic development in developing countries. The Index includes issuers with a minimum credit quality of BBB- by S&P or Baa3 by Moody’s.Valuation time 23:00 Ireland The market weight of the issuers is capped at 25%. Share class base currencyUSD The Index applies controversial conduct exclusions based on United Nations Global Compact Domicile Ireland (UNGC) Principles to the multilateral development bank bonds and invests up to 35% in bondsInception date 8 May 2024 issued by the multilateral development banks. The Fund is passively managed and utilises an investment technique called optimisation.Fund size USD 155,391,401 The Fund may invest in cash and money market instruments, and up to 10% of its assets in other Reference 100% FTSE World Broad funds. benchmark Investment-Grade USD See the Prospectus for a full description of the investment objectives and derivative usage.Multilateral Development Bank Bond Capped Index Main risks Managers Cesar Felipe Fernandez Sebastien Faucher • The Fund invests in bonds whose value generally falls when interest rates rise. This risk isFees and expensestypically greater the longer the maturity of a bond investment and the higher its credit quality. Ongoing charge figure¹0.150%The issuers of certain bonds, could become unwilling or unable to make payments on theirCodesbonds and default. Bonds that are in default may become hard to sell or worthless. • To the extent that the Fund seeks to replicate index performance by holding individual ISIN IE000L6BRPZ8securities, there is no guarantee that its composition or performance will exactly match that Bloomberg ticker HDBA LNof the target index at any given time (“tracking error”).SEDOL BP2F137 • Derivatives may be used by the Fund, and these can behave unexpectedly. The pricing and¹Ongoing Charges Figure is an estimate as thevolatility of many derivatives may diverge from strictly reflecting the pricing or volatility ofshare class has not been priced for a fulltheir underlying reference(s), instrument or asset. financial year. Past performance does not predict future returns. The figures are calculated in the share class base currency, dividend reinvested, net of fees. This is a marketing communication. Please refer to the prospectus and to the KID before making any final investment decisions. For definition of terms, please refer to the Glossary QR code and Prospectus. Performance figures will only be published once the share class has achieved a twelve months track record. Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Sustainable Development Bank Bonds UCITS ETF Monthly report 31 January 2025 | Share class ETFC Performance (%) YTD 1 month 3 months 6 months 1 year3 years ann 5 years ann Since inception ETFC-- -- -- ---- ---- -- Reference Benchmark ---- -- ---- -- -- -- 31/01/24- 31/01/23- 31/01/22- 31/01/21- 31/01/20- Rolling performance (%) 31/01/25 31/01/2431/01/23 31/01/2231/01/21 ETFC -- -- ---- -- Reference Benchmark -- -- -- -- --Reference Reference 3-Year Risk Measures ETFC Benchmark 5-Year Risk Measures ETFC Benchmark Volatility-- -- Volatility -- -- Sharpe ratio -- --Sharpe ratio -- -- Tracking error-- --Tracking error-- -- Information ratio -- --Information ratio -- -- Reference Fixed Income CharacteristicsFund Benchmark Relative No. of holdings ex cash9694 -- Average coupon rate 3.28 2.95 0.33 Yield to worst 4.40%4.40%0.01% Option adjusted duration 3.54 3.44 0.10 Modified duration to worst 3.56 3.44 0.12 Option adjusted spread duration 3.55 3.43 0.12 Average maturity 3.94 3.81 0.13 Rating average AAA AAA -- ReferenceMaturity Breakdown Credit rating (%) Fund Benchmark Relative(Option adjusted Reference AAA 99.76 100.00 -0.24 duration)Fund Benchmark Relative 0-2 years0.40 0.39 0.00 Cash 0.24 -- 0.24 2-5 years1.58 1.59 -0.01 5-10 years 1.56 1.46 0.11 Total3.54 3.440.10 Past performance does not predict future returns. The figures are calculated in the share class base currency, dividend reinvested, net of fees. Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Sustainable Development Bank Bonds UCITS ETF Monthly report 31 January 2025 | Share class ETFCCurrency Allocation Reference (%) Fund BenchmarkRelative USD 100.00 100.00 0.00 GBP 0.00 -- 0.00 CHF 0.00 -- 0.00 EUR 0.00 -- 0.00 Geographical allocation (%) 99.76Supranational 100.00 0.24 Cash FundReference Benchmark Reference Sector allocation (%)Fund BenchmarkRelative Supranational 99.76 100.00 -0.24 Cash 0.24 -- 0.24 Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Sustainable Development Bank Bonds UCITS ETF Monthly report 31 January 2025 | Share class ETFCTop 10 holdings Weight (%) INTERAMER DEV BK 4.125 15/02/292.66 INT BK RECON&DEV 3.125 15/06/272.43 INTERAMER DEV BK 4.375 01/02/272.42 INTERAMER DEV BK 4.500 15/05/262.28 INT BK RECON&DEV 4.625 01/08/282.27 INTL DEVEL ASSOC 4.375 11/06/292.26 ASIAN DEV BANK 1.500 20/01/27 2.21 INT BK RECON&DEV 4.000 10/01/312.14 ASIAN DEV BANK 4.875 21/05/26 2.13 INTERAMER DEV BK 1.500 13/01/272.08 Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Sustainable Development Bank Bonds UCITS ETF Monthly report 31 January 2025 | Share class ETFC Follow us on: Risk disclosures HSBC Asset Management • Investment Leverage occurs when the economic exposure is greater than the amount invested, such as when derivatives are used. A Fund that employs leverage may experience greater gains and/or losses due to the amplification effect from a movement in the price of For more information please contact us the reference source. at E-mail: • Where overseas investments are held the rate of currency exchange may cause the value of Wholesale.clientservices@hsbc.com. such investments to go down as well as up.www.assetmanagement.hsbc.com/uk To help improve our service and in the interests of security we may record and/ or monitor your communication with us. Glossary www.assetmanagement.hsbc.co.uk/en/ api/v1/download/document/ gb00b80qg615/gb/en/glossary Index disclaimer FTSE International Limited ("FTSE") © FTSE 2025. "FTSE®" is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. 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 any 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. Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Sustainable Development Bank Bonds UCITS ETF Monthly report 31 January 2025 | Share class ETFC Important information The material contained herein is for marketing purposes and is for your information only. This document is not contractually binding nor are we required to provide this to you by any legislative provision. It does not constitute legal, tax or investment advice or a recommendation to any reader of this material to buy or sell investments. You must not, therefore, rely on the content of this document when making any investment decisions. This material is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This material is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe to any investment. Any views expressed were held at the time of preparation and are subject to change without notice. While any forecast, projection or target where provided is indicative only and not guaranteed in any way. HSBC Global Asset Management (UK) Limited accepts no liability for any failure to meet such forecast, projection or target. Further information about the UCITS including the Prospectus, the most recent annual and semi-annual reports of the UCITS and the latest prices of shares, may be obtained free of charge, in English, from the Administrator by emailing ifsinvestorqueries@hsbc.com , or by visiting www.global.assetmanagement.hsbc.com. The Prospectus, annual and semi-annual reports are prepared for the entire UCITS. The most recent Prospectus is available in English and French. Key Investor Information Document (KID) are available in the local language where they are registered. To help improve our service and in the interests of security we may record and/or monitor your communication with us. HSBC Global Asset Management (UK) Limited provides information to Institutions, Professional Advisers and their clients on the investment products and services of the HSBC Group. Approved for issue in the UK by HSBC Global Asset Management (UK) Limited, who are authorised and regulated by the Financial Conduct Authority. www.assetmanagement.hsbc.co.uk Copyright © HSBC Global Asset Management (UK) Limited 2025. All rights reserved. Further Information can be found in the prospectus and in our Key Investor Information Documents published in our Fund Centre at www.assetmanagement.hsbc.co.uk Term: The management company cannot terminate the Fund unilaterally. The Board of Directors may furthermore decide to liquidate the Fund in certain circumstances set out in the prospectus and articles of incorporation of the Fund.Further additional and complete information (including but not limited to) investor rights, costs and charges, please refer to the prospectus. Detailed information for article 8 and 9 sustainable investment products, as categorised under the Sustainable Finance Disclosure Regulation (SFDR), including; description of the environmental or social characteristics or the sustainable investment objective; methodologies used to assess, measure and monitor the environmental or social characteristics and the impact of the selected sustainable investments and; objectives and benchmark information,can be found at: https://www.assetmanagement.hsbc.co.uk/en/intermediary/investment-expertise/sustainable-investments/sustainable- investment-product-offering Source: HSBC Asset Management, data as at 31 January 2025