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 ESG Developed Europe All Cap (EUR) Distributing UCITS ETF (the "Fund") ISIN: IE000NRGX9M3 A sub-fund of Vanguard Funds PLCManager: Vanguard Group (Ireland) Limited (“VGIL”) Objectives and investment policy • The Fund employs a passive management – or indexing – investment Prospectus. In circumstances where the Fund holds securities which do not adhere to the screening criteria, the Fund may temporarily hold such approach, through physical acquisition of securities, and seeks to track the securities until such time as they cease to form part of the Index and it is performance of the FTSE Developed Europe All Cap Choice Index (thepossible and practicable (in the investment manager's view) to liquidate “Index”). the position. The Fund attempts to remain fully invested and hold small • The Fund attempts to track the performance of the Index by investing all, amounts of cash except in extraordinary market, political or similar or substantially all, of its assets in the stocks that make up the Index in conditions where the Fund may temporarily depart from this investment approximately the same proportion as the Index. Where not practicable to policy to avoid losses. Where the Index provider has insufficient or no data fully replicate, the Fund will use a sampling process.available to adequately assess a particular company relative to the • The Index is a market-capitalisation-weighted index composed of large-, screening criteria of the Index, stocks of such company will be excluded mid-, and small-cap stocks of companies located in developed markets in from the Index until such time as they may be determined to be eligible by Europe. Market-capitalisation is the value of a company's outstanding the Index provider. shares in the market and shows the size of a company. The Index is • The Fund may use derivatives in order to reduce risk or cost and/or constructed from the FTSE Developed Europe All Cap Index (the “Parent generate extra income or growth. A derivative is a financial contract whose Index”) which is then screened for certain environmental, social, and value is based on the value of a financial asset (such as a share, bond, or governance (i.e. controversy-related) criteria which is independent ofcurrency) or a market index. Derivatives on an index (e.g. swaps, futures) Vanguard. may contain some underlying constituents which may not meet the • Through the screening out of stocks of companies from its portfolio based screening criteria. on the potentially detrimental impact of their conduct or products on • The base currency of the Fund is EUR. society and / or the environment, the Fund promotes certain environmental • The Fund invests in securities which are denominated in currencies other characteristics and social characteristics relating to social norms and than the base currency. Movements in currency exchange rates can affect standards.the return of investments. • The Index methodology excludes stocks of companies that the sponsor of • The Fund is appropriate for long-term investment. You should have an the Index determines (a) to be engaged or involved in specific activities of investment horizon of at least 5 years. the supply chain for, and / or (b) derive revenue (above a threshold• Income from the ETF Shares will be paid out. specified by the Index provider) from, certain activities relating to the • Portfolio transaction costs will have an impact on performance. following activities: (a) Vice Products (i.e., adult entertainment, alcohol,• ETF Shares in the Fund can be bought or sold on a daily basis (save on gambling, tobacco, cannabis); (b) Non-Renewable Energy (nuclear power,certain bank / public holidays and subject to certain restrictions described and fossil fuels (which includes: (i) companies that have greater than 50%in Appendix 1 of the Prospectus or in a separate Supplement). ETF Shares ownership of companies that own proved or probable reserves in coal, oil are listed on one or more stock exchange(s). Subject to certain exceptions or gas, (ii) oil and gas production and supporting services, (iii) coal set out in the Prospectus, investors who are not Authorised Participants extraction, production and supporting services, (iv) oil and gas and thermal may only buy or sell ETF Shares through a company that is a member of coal power generation, (v) extraction of arctic oil and gas, and (vi) a relevant stock exchange at any time when that stock exchange is open extraction of oil sands)); and (c) Weapons (chemical & biological weapons,for business. A list of the days on which shares in the Fund cannot be cluster munitions, anti-personnel landmines, nuclear weapons, civilianbought or sold is available on https://fund-docs.vanguard.com/holiday- firearms, and conventional military weapons).The Index provider defines calendar-vanguard-funds-plc-ETFs.pdf what constitutes “involvement” in each activity. This may be based on percentage of revenue or any connection to a restricted activity regardless For further information about the objectives and investment policy of of the amount of revenue received, and will relate to specific parts of the the Fund, as well as the limited relationship with the Index provider, supply chain. The Index methodology also excludes stocks of companies please see the supplement for the Fund ("Supplement") and Appendix based on certain controversial conduct, which is achieved by excluding 6 of the Vanguard Funds plc prospectus (the "Prospectus") on our companies that meet certain criteria in relation to the United Nations website at https://global.vanguard.com Global Compact Principles. • The Fund's investments will, at the time of purchase, comply with the screening criteria, except as otherwise described below or in the Risk and reward profileLower risk Higher risk • Counterparty risk. The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives orTypically lower rewards Typically higher rewards other instruments, may expose the Fund to financial loss. • Liquidity risk. Lower liquidity means there are insufficient buyers or sellers 1 234 5 6 7 to allow the Fund to sell or buy investments readily. This could cause the Fund to incur higher costs when buying or selling investments or could mean that the Fund is not able to buy or sell investments when it would • This indicator is based on historical data and may not be a reliable like to do so.indication of the future risk profile of the Fund. • Index tracking risk. The Fund is not expected to track the performance of • The risk category shown is not guaranteed and may change over time. the Index at all times with perfect accuracy. The Fund is, however, • The lowest category does not mean “risk free”.expected to provide investment results that, before expenses, generally correspond to the price and yield performance of the Index. • The Fund is rated 6 due to the nature of its investments which include the • Index sampling risk. The Fund uses an index sampling technique wherebyrisks listed below. These factors may impact the value of the Fund's a representative sample of securities are selected to represent the Index.investments or expose the Fund to losses.This means there is the risk that the securities selected for the Funds may- The value of equities and equity-related securities can be affected by not, in the aggregate, approximate the full index.daily stock market movements. Other influential factors include political, • Index Accuracy Risk. There is no assurance that the Index provider willeconomic news, company earnings and significant corporate events.compile the Index accurately or that the Index will be determined,- Movements in currency exchange rates can adversely affect the return composed or calculated correctly.of your investment. • Screening risk. A Fund may track an index which screens out possible- Investment risk is concentrated in specific sectors, countries, currencies investments if they do not meet certain screening criteria. This may affector companies. This means the Fund is more sensitive to any localised the Fund's exposure to certain issuers and cause the Fund to foregoeconomic, market, political or regulatory events.certain investment opportunities. The relevant Fund may perform- Use of derivatives. The use of derivatives could increase or reducedifferently to other funds, including underperforming funds that do not seekexposure to underlying assets and result in greater fluctuations of the to screen investments in this wayFund's net asset value.• Unscheduled rebalancing risk. Apart from scheduled rebalances, the The risk and reward indicator does not take account of the followingIndex provider may carry out additional ad hoc rebalances to the Index. risks of investing in the Fund: For further information on risks please see the “Risk Factors” section of the Prospectus on our website at https://global.vanguard.com 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 0.12% * 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 The ongoing charges figure is based on expenses for the year ended 31 Performance fee December 2024. This figure may vary from year to 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 performance18 • Past performance: • Is not a reliable indication of future performance.16 • Includes ongoing charges and the reinvestment of income. It excludes14 entry and exit fees. • Has been calculated in EUR.12 • Shares in the Fund were first issued in 2022. • This share class was launched in 2022. Per cent (%)10 8 6 4 2 0 2020 20212022 2023 2024 16.6% 9.6% 16.3% 9.3% Fund IndexPractical 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 31/03/2025.