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 risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest.

iShares U.S. Equity High Income UCITS ETF

USD (Dist) Share ClassISIN: IE000WHL2ZK1 Exchange Traded Fund (ETF) A sub-fund of iShares III plcManager: BlackRock Asset Management Ireland Limited

Objectives and Investment Policy

The Fund is actively managed and aims to generate income and capital growth with lower volatility than the broader US equity market.

In normal market conditions, the Fund will invest at least 80% of its total assets in the equity and equity-related instruments (namely, call options, futures and swaps) of

large capitalisation companies domiciled in, listed in, or the main business of which is in, the United States of America.

The Fund will also invest in accordance with its ESG Policy as outlined in the Fund’s prospectus.

In order to achieve its investment objective and policy, the Fund will invest in a variety of investment strategies and instruments. In particular, the Fund will use

quantitative (i.e. mathematical or statistical) models in order to achieve a systematic (i.e. rule based) approach to stock selection and further the Fund will sell call

options and buy futures on a large U.S. large capitalisation equity index to generate income.

The investment manager (IM) may use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) for

investment purposes in order to achieve the investment objective of the Fund, and/or to reduce risk within the Fund’s portfolio, reduce investment costs and generate

additional income. The Fund may, via FDIs, generate varying amounts of market leverage (i.e. where the Fund gains market exposure in excess of the value of its

assets).

The Fund is actively managed, and the IM has discretion to select the Fund’s investments. In doing so may take into consideration the S&P 500 Index (the “Index”)

when constructing the Fund’s portfolio, and also for risk management purposes to ensure that the active risk (i.e. degree of deviation from the index) taken by the

Fund remains appropriate given the Fund’s investment objective and policy. The IM is not bound by the components or weighting of the Index when selecting

investments. The IM may also use its discretion to invest in securities not included in the Index in order to take advantage of specific investment opportunities. The

Fund’s portfolio holdings are expected to deviate materially from the Index.

Recommendation: This Fund is not suitable for short term investment.

Your shares will be distributing shares (i.e. income will be paid on the shares quarterly).

Your shares will be denominated in US Dollar, the Fund's base currency.

The shares are listed on one or more stock exchanges and may be traded in currencies other than their base currency. The performance of your shares may be

affected by this currency difference. In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares)

directly with the Fund. Other investors can deal in shares (or interests in shares) daily through an intermediary on stock exchange (s) on which the shares are traded.

Indicative net asset value is published on relevant stock exchanges websites. For more information on the Fund, Share Class, risks and charges, please see the Fund's prospectus, available on the product pages at www.blackrock.com

Risk and Reward Profile

Lower risk

Higher risk

- Risk to Capital Growth: The Fund may pursue investment strategies using

Typically lower rewards Typically higher rewards

derivatives in order to generate income which may have the effect of reducing capital and the potential for long-term capital growth as well as increasing any capital losses.

- The Fund seeks to exclude companies engaging in certain activities

The risk indicator was calculated incorporating simulated historical data and inconsistent with ESG criteria. Such ESG screening may reduce the potential

may not be a reliable indication of the future risk profile of the Share Class.

investment universe and this may adversely affect the value of the Fund’s

The risk category shown is not guaranteed and may change over time.

investments compared to a fund without such screening.

The lowest category does not mean risk free.- The Fund uses quantitative models in order to make investment decisions. As

The Share Class is rated six due to the nature of its investments which include

market dynamics shift over time, a quantitative model may become less

the risks listed below. These factors may impact the value of the Share Class or

efficient or may even present deficiencies under certain market conditions.

expose the Share Class to losses.

Particular risks not adequately captured by the risk indicator include:

- The value of equities and equity-related securities can be affected by daily

- Counterparty Risk: The insolvency of any institutions providing services such stock market movements. Other influential factors include political, economic

as safekeeping of assets or acting as counterparty to derivatives or other news, company earnings and significant corporate events.instruments, may expose the Share Class to financial loss. The benchmark is the intellectual property of the index provider. The Share Class is not sponsored or endorsed by the index provider. Please refer to the Fund's prospectus for full disclaimer. Charges The charges are used to pay the costs of running the Share Class, including the ** To the extent the Fund undertakes securities lending to reduce costs, the costs of marketing and distributing it. These charges reduce the potential growth ofFund will receive 62.5% of the associated revenue generated and the remaining your investment.37.5% will be received by BlackRock as the securities lending agent. As *Not applicable to secondary market investors. Investors dealing on a stock securities lending revenue sharing does not increase the costs of running the exchange will pay fees charged by their stock brokers. Such charges are publiclyFund, this has been excluded from the ongoing charges. available on exchanges on which the shares are listed and traded, or can be

One-off charges taken before or after you invest obtained from stock brokers.

Entry Charge

None* *Authorised participants dealing directly with the Fund will pay related transaction costs including, on redemptions, any applicable capital gains tax (CGT) and otherExit Charge

None* taxes on underlying securities.

This is the maximum that might be taken out of your money before it is invested or

before proceeds of your investments are paid out. The ongoing charges figure is based on the fixed annualised fee charged to the Share Class in accordance with the Fund’s prospectus. This figure excludes portfolio Charges taken from the Share Class over each year trade related costs, except costs paid to the depositary and any entry/exit charge

Ongoing Charges 0.35%** paid to an underlying collective investment scheme (if any). Charges taken from the Share Class under certain conditions

Performance Fee None

Past Performance Past performance is not a guide to future performance. The Fund was launched in 2024. The Share Class was launched in 2024. Performance is shown after deduction of ongoing charges. Any entry/exit charges are excluded fromThis chart has been left intentionally blank as there is less than one year's performance data. the calculation. Practical Information

The depositary of the Fund is State Street Custodial Services (Ireland) Limited.

Further information about the Fund and the Share Class can be obtained from the latest annual report and half-yearly reports of iShares III plc. These documents are

available free of charge in English and certain other languages. These can be found, along with other information, such as details of the key underlying investments of

the Share Class and share prices, on the iShares website at www.ishares.com or by calling +44 (0)845 357 7000 or from your broker or financial adviser.

Investors should note that the tax legislation that applies to the Fund and Share Class may have an impact on the personal tax position of your investment.

The Fund is a sub-fund of iShares III plc, an umbrella structure comprising different sub-funds. The Fund has one or more share classes. This document is specific to

the Fund and Share Class stated at the beginning of this document. However, the prospectus, annual and half-yearly reports are prepared for the umbrella.

iShares III plc 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 Fund's prospectus.

The indicative intra-day net asset value of the Share Class is published on relevant stock exchanges websites.

Under Irish law, iShares III plc has segregated liability between its sub-funds (i.e. the Fund’s assets will not be used to discharge the liabilities of other sub-funds within

iShares III plc). In addition, the Fund's assets are held separately from the assets of other sub-funds. Assets and liabilities specific to a share class would be

attributable to only that share class, however there is no segregation of liabilities between share classes under Irish law.

Switching of shares between the Fund and other sub-funds within iShares III plc is not available to investors. Only Authorised Participants dealing directly with the Fund

may switch shares between share classes of the Fund subject to meeting certain conditions in the Fund's prospectus.

The Remuneration Policy of the Management Company, which describes how remuneration and benefits are determined and awarded, and the associated governance

arrangements, is available at www.blackrock.com/Remunerationpolicy or on request from the registered office of the Management Company. This Fund and its manager, BlackRock Asset Management Ireland Limited, are authorised in Ireland and regulated by the Central Bank of Ireland. This Key Investor Information is accurate as at 27 January 2025