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<p class="MsoNormal"><strong>Please consider a Fund’s objectives, risks (including risk of loss), charges and expenses before investing. For these, see the prospectus and summary prospectus at bailliegifford.com/etfs. Please read these before investing. Securities are offered through Baillie Gifford Funds Services LLC, an affiliate of Baillie Gifford Overseas Limited and a member of FINRA.</strong></p>
<p><strong>Jenny Davis:</strong> In the United States, there are almost 5,000 listed ETFs. Less than 20 are active foreign large cap growth. For investors seeking alpha and diversification beyond US markets, with thoughtful stock selection, the options have been limited – until now. </p>
<p>We believe you have to be different to outperform, own stocks with conviction and hold them until compounding wins over cyclicality. This is an ETF for active investors.<br> <br>International Alpha invests in exceptional companies across a broad range of growth drivers, business models and geographies. Our edge comes from how we think: we’re a cognitively diverse team with 20 years’ average experience, researching companies from the bottom up across international markets for nearly 25 years. </p>
<p>This translates into around 80 carefully selected businesses and an active share north of 80 percent – enough diversification to provide resilience through market cycles, whilst being focused enough to make every holding count.<br> <br>We invest for the long term because that's when fundamental stock-picking works best. Baillie Gifford’s private ownership means we can back and maintain our conviction, sticking with our favorite companies through market noise. </p>
<p>We've been backing exceptional businesses for over a century. We’ve run international equity portfolios for several decades, and we've never stopped evolving. We are laser-focused on finding the next secular trend, understanding management, challenging consensus, and embracing change. </p>
<p>This ETF is new. The philosophy behind it is not.</p>
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<p class="MsoNormal"><strong>Risk factors</strong></p>
<p class="MsoNormal">The Funds are distributed by Baillie Gifford Funds Services LLC. Baillie Gifford Funds Services LLC is registered as a broker-dealer with the SEC, a member of FINRA and is an affiliate of Baillie Gifford Overseas Limited. All information is sourced from Baillie Gifford & Co unless otherwise stated.</p>
<p class="MsoNormal">As with all ETFs, the value of an investment in the Fund could decline, so you could lose money.</p>
<p class="MsoNormal">Investing in Exchange Traded Funds (ETFs) pose additional risks including that shares trade on an exchange and may trade at a price greater than the NAV (a premium) or less than the NAV (a discount). Shares bought at a premium may have a greater risk of loss than those bought at a discount. Shares are bought and sold at market price (not NAV) and are not individually redeemable. Shares may only be redeemed directly from the Fund in Creation Units by Authorized Participants (APs). Where an ETF relies on a small number of APs, there is a risk if these APs exit the business or are unable to create or redeem shares. In this situation, Fund shares are more likely to trade at a premium or discount to NAV and could face trading halts. Although shares are listed for trading on an exchange, there can be no assurance that an active trading market for the shares will develop or be maintained. Investors buying or selling shares in the secondary market may also incur bid-ask spreads, which represent the difference between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept for shares and may widen during periods of market volatility or reduced liquidity. Brokerage commissions may apply and will reduce returns. The market price of shares may fluctuate in response to changes in the value of the Fund’s holdings, supply and demand for shares and other market factors. For more information about these and other risks of an investment in the Fund see “Principal Risks” in the prospectus.</p>
<p class="MsoNormal">There can be no assurance that a Fund will achieve its objective.</p>
<p class="MsoNormal">This communication was produced and approved in May 2026 and has not been updated subsequently. It represents views held at the time of writing and may not reflect current thinking.</p>
<p class="MsoNormal">This communication contains information on investments which does not constitute independent research. Accordingly, it is not subject to the protections afforded to independent research and Baillie Gifford and its staff may have dealt in the investments concerned.</p>
<p class="MsoNormal">The images used in this communication are for illustrative purposes only.</p>
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