OurActiveETFsaredrivenbyhumanintelligence

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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 class="MsoNormal"><strong>Mike Gush (MG):</strong><span lang="EN-US"> In an industry that constantly encourages the herd into short-term thinking, the structure of your investment firm matters more than ever.</span></p> <p class="MsoNormal"><strong>Jenny Davis (JD):</strong> We believe you have to be different to outperform.</p> <p class="MsoNormal"><strong>Paulina McPadden (PM):</strong><span lang="EN-US"> We think in years, not quarters. We do deep research, we take high-conviction positions, and we're willing to be patient when we see big potential.</span></p> <p class="MsoNormal"><strong>Mark Urquhart (MU):</strong><span lang="EN-US"> Now we're bringing this same deeply researched, long-term and genuinely active approach into an ETF structure without diluting what makes it distinctive.</span></p> <p class="MsoNormal"><strong>JD:</strong><span lang="EN-US"> We invest for the long term because that's when fundamental stock picking works best.</span></p> <p class="MsoNormal"><strong>MU:</strong><span lang="EN-US"> For over a century, Baillie Gifford has championed patient capital and contrarian thinking.</span></p> <p class="MsoNormal"><strong>MG:</strong><span lang="EN-US"> And the opportunity set today looks better than it has in years.</span></p> <p class="MsoNormal"><strong>JD:</strong><span lang="EN-US"> We are laser-focused on finding the next secular trend, understanding management, challenging consensus and embracing change.</span></p> <p class="MsoNormal"><strong>PM:</strong><span lang="EN-US"> We aim to find exceptional businesses early and stick with them as they grow.</span></p> <p class="MsoNormal"><strong>MG:</strong><span lang="EN-US"> Being private, stable, not beholden to short-term results, and having our own incentives closely aligned with those of our investors means that we can practice what we preach.</span></p> <p class="MsoNormal"><strong>MU:</strong><span lang="EN-US"> Some opportunities are worth waiting for. This is one of them.</span></p> <p class="MsoNormal">&nbsp;</p> <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 &amp; 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> <p class="MsoNormal">&nbsp;</p> <p class="MsoNormal"><span class="source-text">196120 10062869</span></p>