‘Key Features Document’ has the ‘Units’ – units in a unit trust of which meaning given by the FCA Rules. a Schroders Company is the manager ‘Key Investor Information Document’ specified from time to time by Schroders (KIID) or ‘Key Information Document’ as available for inclusion in a Schroders (KID) – a document that provides ISA so long as the securities of which are Terms and information about a specific fund. It is permitted by the Treasury Regulations to required by law to help you understand be held in an ISA. the nature and the risks of investing in ‘US Person’ – any person defined as a Conditions that fund. US person under Regulation S of the ‘MiFID’ means the European Parliament United States Securities Act 1933. Unit Trust, OEIC and Council Directive on markets in ‘Year’ – a year beginning on 6 April in financial instruments (No. 2014/65/EU) any year and ending on 5 April in the and Investment and the Markets in Financial Instruments following year. Regulation (Regulation 600/2014) and any References to any statutory provision or to associated delegated or implementing regulations made there under include any Trust ISA legislation, technical standards and modification or re-enactment thereof. guidelines, as amended from time to time. Investments ‘OEIC’ – an open-ended collective investment scheme formed as a 2. Introduction corporation under the Open-Ended Reference guide to Investment Company Regulations 2001 (a) Schroder Unit Trusts Limited is in the United Kingdom. authorised and regulated by the Financial Terms and Conditions ‘Schroders’ – Schroder Unit Trusts Limited Conduct Authority and is entered on the as the ISA Manager. FCA register under register number 197288 Section 5 – Explanation of cancellation to act as ISA Manager. All communications ‘Schroders Company’ – any holding rights passing between you and Schroders must company of the ISA Manager or subsidiary – How income reinvestments be in English. Section 6 of any such holding company. and distributions are made (b) The Schroders ISA will, subject to ‘Schroders ISA’ – an Individual Savings – How the purchase of Units or the Treasury Regulations, be managed Section 7 Account (ISA) operated in accordance with Shares is determined by Schroders in accordance with your these Terms and Conditions representing directions as set out in the application form. Section 10 – The issue of valuations, subscriptions made by you over one reports and accounts or more Years whether or not such These are Schroders’ standard ISA Section 18 – An explanation of how the ISA subscriptions are made in consecutive Terms and Conditions upon which we may be transferred to another manager Years. A Schroders ISA will be made up intend to rely. For your own benefit entirely of stocks and shares (for the and protection you should read these Section 19 – How Schroders can terminate purpose of the Treasury Regulations) to carefully before investing in a Schroders the ISA be invested in Units of the Unit Trust(s) ISA. If you do not understand any point Section 26 – How complaints and queries or Shares in Investment Trusts or OEICs please ask for further information. are dealt with and further details of selected by you. Your Schroders ISA will be compensation arrangements designated as a Stocks and Shares ISA. 3. Applications to Open a ‘Shares’ (Investment Trust) – shares in 1. Definitions an investment trust of which a Schroders Schroders ISA Company is the manager specified from time to time by Schroders as available for ‘Account Investor’ or ‘you’ – an individual (a) In order to open a new ISA with inclusion in a Schroders ISA so long as the who subscribes to a Schroders ISA or the Schroders, you must submit to Schroders a securities of which are permitted by the applicant for a Schroders ISA. properly completed and signed application Treasury Regulations to be held in an ISA. form together with a cheque or banker’s ‘ACD’ – an Authorised Corporate Director is ‘Shares’ (OEIC) – a share in an OEIC draft or a direct debit instruction to your an FCA authorised firm that is responsible represents an equal fraction of the bank or building society, for the amount for dealing with the day-to-day operation OEIC’s assets. specified on the application form. of an OEIC, managing the OEIC’s investments, buying and selling the OEIC’s ‘Supplementary Information Document’ (b) You may also apply to transfer an shares on demand, and ensuring accurate (SID) – a document that provides existing ISA to Schroders. The ISA to be pricing of shares at net asset value. information about dealing in the relevant transferred must be converted to hold only funds, the associated tax implications, cash at the point of transfer but can only ‘Authorised Fund Manager’ has the the right to complain, the right to cancel be invested in stocks and shares ISA on meaning given by the FCA Rules. (where applicable) and further details on transfer. The minimum transfer value for ‘Business Day’ – any day on which the range of funds available. transfers into a Schroders ISA is £1,000. the London Stock Exchange is open ‘Terms and Conditions’ – these terms and (c) If you subscribe by cheque or banker’s for business. conditions together with the application draft your Schroders ISA will (subject to ‘FCA’ – the Financial Conduct Authority. form for a Schroders ISA. (a) above and (d) below) come into force on the day of its receipt by Schroders if ‘FCA Rules’ means the rules made by ‘Treasury Regulations’ – the Individual it is received before the valuation point the FCA under the Financial Services and Savings Account Regulations 1998 as or dealing period set by Schroders, or Markets Act 2000. amended from time to time. otherwise on the following Business ‘Investment Trust’ – an investment trust ‘Unit Trust’ – an authorised unit trust Day. If you subscribe by direct debit your of which a Schroders Company is the scheme of which a Schroders Company is Schroders ISA will come into force on the investment manager and/or Secretary the manager and which is specified from day Schroders draws on your direct debit and which is specified from time to time time to time by Schroders as available for mandate. Direct debit subscriptions to by Schroders as available for inclusion in inclusion in a Schroders ISA so long as a Schroders ISA will be collected on or a Schroders ISA so long as the securities such units are permitted by the Treasury around the 10th of each month. of which are permitted by the Treasury Regulations to be held in an ISA. Regulations to be held in an ISA.

1 Schroders Investment Trust ISA (d) Schroders reserves the right at its or Shares on your behalf but is unable registered unitholder/shareholder. Please absolute discretion to reject any application to establish your correct banking details, note that we may require your signature (including transfer applications). Schroders will issue a cheque. If you hold and may request bank verification (e) All applications to open a Schroders ISA accumulation Units or Shares in your documents prior to payment. in respect of a Year must be received by Schroders ISA, the increased price of such Schroders no later than the last day of the Units or Shares will reflect the income 8. Best Execution relevant Year on which Schroders is open accumulated and no additional Units or for business. Shares will be purchased. Any income tax repayments will be reinvested in the When executing orders on your behalf in (f) There is no minimum duration to your purchase of additional accumulation Units relation to financial instruments (as defined agreement with Schroders. or Shares. by MiFID) we will take all reasonable steps Investment Trusts to achieve what is called ‘best execution’ 4. Appropriateness of your orders. Our policy and procedures If you are a lump sum Investment Trust therefore are designed to obtain the best investor who has requested that your possible result for your orders subject to In certain circumstances, firms providing income is reinvested, then if you are a and taking into account what category of investment services and products are regular saver, or if you apply to open client you are (under the FCA Rules), the required to assess the appropriateness of a Schroders ISA and do not specify a financial instruments concerned, the nature the investment services or products they bank or building society account on your of your orders, the nature of the markets provide. This requirement does not apply application form, Schroders will purchase and any specific instructions from you. where, as in this case, the service only additional Shares with this income. Income consists of execution and/or the reception arising in respect of Investment Trust As the ISA Manager is also the Authorised of client orders, relates to particular Shares will be paid out depending on the Fund Manager it will deal directly when non-complex financial instruments, and distribution frequency of the relevant buying or selling Units in the Schroder is provided at the initiative of the client. Investment Trust. authorised Unit Trusts and when buying or selling Shares in the Investment Trusts Accordingly, clients should note that they In accordance with the Treasury do not benefit from the protection of the or the OEICs. Units and OEIC Shares will Regulations, Schroders will make all be bought and sold daily on a forward rules on assessing appropriateness and necessary claims for relief from tax relating should therefore ensure that they seek pricing basis and prices will be calculated to Units or Shares held in your Schroders by reference to the value of the property independent financial advice if unsure ISA. Lump sum and regular savings about whether a product is appropriate. of the relevant fund at the next valuation investments will be invested on the basis of point as per the Prospectus for the the relevant Unit or Share price calculated Schroder authorised Unit Trusts/OEICs. 5. Cancellation at the next valuation point following Investment Trust Shares will be bought receipt of monies (see Section 7 below and sold during a set dealing period on the for further details). The reinvestment If you have received advice from a next Business Day, if received by Schroders or distribution of income is subject to after a set cut-off point. Customer orders financial adviser with regard to investing Schroders’ right to deduct from any such in a Schroders ISA, you may cancel your for the purchase or sale of Units in Unit income any sums due to it under these Trusts will be executed directly via the application on or before the 14th day after Terms and Conditions. you receive from Schroders a notice of relevant Authorised Fund Manager, or by your cancellation rights. If you exercise a third party on our behalf via the relevant your right to cancel your Schroders ISA any 7. Dealing in Investments Authorised Fund Manager. Customer amounts paid by you will be reimbursed, orders for the purchase or sale of OEIC subject to a deduction of the amount (if Shares will be executed directly via the The property of each Unit Trust, OEIC or relevant ACD, or by a third party on our any) by which the value of the investment Investment Trust will normally be valued has fallen between: behalf via the relevant ACD. As such, these on each Business Day at the valuation orders will not be executed on a regulated (i) the time the cancellation notice is point. The ISA Manager will place orders market or on a multilateral trading received by Schroders; and within one Business Day of receipt of facility. By applying for this Schroders (ii) the date on which the investment was instructions by Schroders via a completed ISA, you consent to such orders being made. application form or by telephone. Dealing executed outside of a regulated market will be carried out during a set dealing If you have not received advice from an and multilateral trading facility. Customer period on the next Business Day, if it is orders for the purchase or sale of Shares in authorised financial adviser you, will not received by Schroders after a set cut-off qualify for cancellation rights. Investment Trusts will be executed on the point. Details of valuation and cut-off London Stock Exchange points in respect of Unit Trusts, OEICs 6. Income Reinvestment and Investment Trusts are available The predominant factors in determining from Schroders. this policy are the price, and the quality, and Distribution consistency and speed of service that can Notwithstanding the above, the ISA be provided in relation to the nature of the Manager may choose to revalue a Unit investment. Where you provide us with a Unit Trusts & OEICs Trust’s or OEIC’s property at any time, specific instruction in relation to your entire If you are a lump sum investor who has although this is likely to occur only where order, or any particular aspect of your order, requested that your income is paid to there is a significant change in the value including selecting to execute on a particular you, Schroders will purchase income of the property held by the Unit Trust or venue, we will execute that order in Units or Shares for your Schroders ISA. If OEIC. Units or Shares dealt in on each accordance with your instructions. As such, you elected to receive income from your Business Day. Where you wish to redeem this may, prevent us from following some or Schroders ISA, then income (including any Units or Shares the value of £50,000 or all of the steps in our policy or procedures income tax repayments received) will be more, the manager may elect to deal at the that are designed to obtain the best possible paid into your bank or building society cancellation price. In respect of switches, result for the execution of your orders. account by direct credit. Income arising in see Section 11 below. A cheque for the respect of income Units or Shares will be proceeds of the Units or Shares sold will be paid out monthly, quarterly or half yearly issued to you on or by the close of business depending on the distribution frequency on the fourth business day after the sale. of the relevant Unit Trust or OEIC. If Upon request, proceeds can be issued Schroders has purchased income Units directly to a bank account held by the

Schroders Investment Trust ISA 2 9. Customer Investment Trusts will be held in the name Any such balances will cease to be client of JP Morgan Chase Bank as nominee. money under the client money rules at the Categorisation You hereby authorise Schroders to issue point they are so paid away. Schroders will appropriate instructions to any nominee make and retain records of all balances In accordance with the FCA Rules, we in discharge of Schroders’ responsibilities so paid away in order to address any are required to categorise each of our under the Terms and Conditions. claims made subsequently in respect of customers. We have categorised you and (b) Investments held in the name of amounts in excess of £25 for a retail client will treat you as a retail client unless we a nominee will be held on trust. and amounts in excess of £100 for a client agree otherwise. If we have previously Therefore, investments will continue other than a retail client. Under the client categorised you as a professional client or to belong to you in the event of the money rules Schroders is not required to eligible counterparty, then we will continue nominee becoming insolvent. and so will not address any claims made to treat you in accordance with that subsequently in respect of amounts (c) Investments held by a nominee will be beneath these thresholds. previous categorisation, though you may held in an omnibus account. This means request that we re-categorise you as that individual investments may not be (i) In the event of insolvency, Schroders a retail client. identifiable via separate certificates or will have a claim against the authorised other proof of title. However, Schroders institution on behalf of its clients. However, 10. Valuations, Reports will keep appropriate records in order to any shortfall in meeting the claim may identify individual holdings. In the event of have to be shared pro rata between clients. and Accounts a default, any shortfall in the investments (j) In certain circumstances, Schroders registered in the name of the nominee has the right to deduct any sums due to it (a) You will be sent a valuation as at 5 April may be shared pro rata by all the investors under these Terms and Conditions from and 5 October in each year together with whose investments are so registered. your investment. The reinvestment or a transaction statement for the preceding Schroders will be responsible for the acts distribution of income described in Section six month period. Schroders may at its and omissions of any nominee it uses 6 is subject to Schroders’ right to deduct discretion provide additional valuations for the purposes of these Terms and from any such income any sums due to and transaction statements. Confirmation Conditions in accordance with Section 19. it under these Terms and Conditions. of your investment will be sent to you (d) No individual certificates for Units or Upon termination of the Schroders ISA immediately following each lump sum Shares will be issued to you. This will not in accordance with Section 19, Schroders transaction, but will not be issued in affect your beneficial ownership of the may deduct from the amount of any respect of regular savings investments. Units or Shares held in your Schroders payment any sums due to it pursuant to these Terms and Conditions (except where (b) Long form copies of the report and ISA. However, you may not dispose of or transfer any interest in such Units or the Schroders ISA is being transferred to accounts are available on request from another ISA manager). Schroders may also the ISA Manager. Shares nor create (or have outstanding) any charge or security on or over any such determine and deduct a sum representing (c) Schroders will make available all report Units or Shares. any of your tax liabilities or those of your and accounts of the Investment Trusts personal representative(s) in connection in respect of which Investment Trust (e) Units or Shares in your Schroders ISA with the Schroders ISA for which Schroders Shares are held in your Schroders ISA in may not be lent or charged by Schroders is, or may be, or becomes accountable. circumstances where such documentation to any third party and no borrowing will be Schroders may sell Units or Shares held in is available either in hard or electronic copy. made by Schroders against the security of the Schroders ISA if it considers it necessary any such Units or Shares. to do so in order to pay any such sums. (f) Cash credited to a client money account 11. Switches will be segregated from Schroders’ own money and will be held on trust by the 13. Money Laundering You may switch Units, or OEIC Shares authorised institution. Schroders will not in one Unit Trust, or OEIC held in your be responsible for any acts or omissions of The Money Laundering, Terrorist Financing Schroders ISA for those in another by the authorised institution. Interest will not and Transfer of Funds Regulations completing an Investment Amendment be paid in respect of any cash arising from 2017 (as amended from time to time) form. Please contact us if you wish to investments in Units or Shares. require us to make checks on various switch to or from an Investment Trust ISA. (g) All cash received in your Schroders ISA transactions. Independent documentary Switches may be made on preferential will, pending investment, be credited to verification may be required for both the terms at Schroders’ discretion, but they a general client money bank account. All identity and permanent address of the will not affect the annual subscription limit cash payable to you in settlement of Unit/ applicant opening an account. This may for your Schroders ISA. Units and OEIC Share redemptions in your Schroders ISA also apply to existing account holders. Shares shall be acquired on the same will be paid to you from a general client Processing of your instruction, any further Business Day on which Units and OEIC money bank account. Client money bank instructions or payment due to you may Shares are sold. Investment Trust Shares accounts will be maintained by Schroders be delayed pending receipt of satisfactory shall be acquired on the next Business Day with an authorised institution as defined in evidence. Signing of the application form following the day on which Investment the FCA Rules. represents permission from you to make any necessary electronic searches of the Trust Shares are sold. (h) In respect of any client money balances electoral roll and credit reference agencies. that Schroders holds for you which These agencies may keep a record of our remains uncashed or unclaimed, Schroders 12. Registration, Client enquiry. Where you are investing money may pay away this client money to a using a building society branch cheque or Money and Beneficial registered charity of its choice, provided: banker’s draft, please arrange for them Ownership (1) Schroders has held the balance for at to certify, on the cheque, the name and least six years following the last movement account number of the client from whose on your account (disregarding any account payment is being drawn, together (a) Units and Shares in your Schroders payment or receipt of interest, charges or with the branch stamp. Third party ISA shall be held, and must remain, in similar items); and cheques will not be accepted. your beneficial ownership. Units and Shares in OEICs will be registered jointly (2) Schroders has taken reasonable steps in your and Schroders’ names. Shares in to trace and to return the balance to you.

3 Schroders Investment Trust ISA 14. Beneficial Owners 16. Charges each Unit Trust, OEIC and/or Investment Trust according to the relative value of your holding of each Unit Trust, OEIC and/or Under UK legislation to prevent money (a) Without prejudice to Section 21, Investment Trust at the time of the transfer. laundering, the manager/Authorised Schroders shall be entitled to charge Corporate Director of the Unit Trust/ for its services at the rates set out in the (b) Where your Schroders ISA is OEIC is required to verify the identities of Key Investor Information Document or transferred pursuant to an instruction investors. In the case of corporate bodies, Key Information Document and/or Key under paragraph (a) above, Schroders will trusts and other legal arrangements, it Features Document issued by Schroders or transfer the net proceeds of sale of the is also required to establish the identity its representatives which is current at the Units or Shares and other relevant rights of any trustees or other controllers (who date you apply for your Schroders ISA. directly to the new ISA manager. The transfer shall be effected on receipt of your have greater than 25% control of the body (b) Out of these charges Schroders, where corporate or property of the trust) that are written instruction (subject to a minimum relevant, pays commission to financial of 30 days). not named on the application. In addition, advisers. Rates are available on request. it is also required to establish the identity Schroders may make payments to certain (c) Where an investment made by your of any individuals who have a specified third party organisations that provide Schroders ISA can no longer be held within beneficial interest in the Units or Shares. services to advisers. These services are your Schroders ISA, Schroders will contact The applicant retains legal title to the Units designed to enhance the quality of service you to explain what has happened and to or Shares and instructions will only be to clients and the payments are made from set out the relevant options open to you. accepted from the applicant. The beneficial our charges. If within a reasonable period of time (as owner details are required for money notified to you by Schroders) you do not laundering purposes only. For companies, (c) Schroders receives an annual inform Schroders of the action you wish to the beneficial owners that must be listed management fee payable by the relevant take, Schroders may: are any shareholders or other individuals Unit Trust, OEIC or Investment Trust. Details of this fee are available on request (i) transfer the relevant investment to that ultimately own or control more than another ISA plan manager through a 25% of the voting rights or are entitled to and further described in the Key Investor Information Document or Key Information bulk transfer pursuant to the Treasury more than 25% of the company’s profits. Regulations; or Note that they may not necessarily be Document and/or Key Features Document. (ii) redeem that investment and invest the the actual shareholders in the company. proceeds in another investment that can Directors of a company do not need to be 17. Withdrawals be held within your Schroders ISA, listed unless they fall within this definition. For trusts and other similar arrangements, provided that in making this decision the beneficial owners are individuals (a) You may make a cash withdrawal from Schroders is acting in your best interests. nominated to benefit from more than your Schroders ISA at any time by written 25% of the trust property, as well as any request, by telephone or by signed faxed 19. Termination trustees that exercise control. instruction. In respect of both Units and Shares the value of such withdrawal shall be no less than £250. (a) Your Schroders ISA may be terminated 15. Voting Rights, (b) A cash withdrawal will be met by selling with immediate effect by Schroders Meetings and Additional Units or Shares. If you request a cash giving you written notice of termination withdrawal Schroders may at its discretion if it becomes impossible, impractical or Information determine which Units or Shares to sell in unreasonable for Schroders to comply with order to meet your request. the Treasury Regulations or to continue (a) Schroders may attend meetings of to act as manager of your Schroders ISA, unit/shareholders and, if so instructed by 18. Transfers including in relation to any Unit Trust, you, may exercise voting rights in respect OEIC or Investment Trust in which you of Units/OEIC shares held in have invested where the value of your your Schroders ISA. (a) You may at any time instruct Schroders investment is below £50. Without prejudice in writing to transfer all of your current to this, Schroders will give you written (b) Schroders will, in respect of Investment Year’s Schroders ISA, or part or all of your notice of termination if your Schroders Trust ISAs, refrain from exercising any Schroders ISA from previous Years to ISA has or will become void through non- voting rights attaching to the Shares held another ISA manager who: compliance with the Treasury Regulations in your Schroders ISA. You may on written (which shall be treated as termination for (i) fulfils the conditions in the notice to Schroders, elect in respect of the purposes of the Terms and Conditions). your Investment Trust Shares held in Treasury Regulations; (b) A Schroders ISA shall terminate your Schroders ISA to attend meetings (ii) is approved by HM Revenue and automatically on your death. However, of shareholders, exercise voting rights Customs to act as an ISA manager; and Schroders’ authority will not be affected by and receive in addition to the documents (iii) who agrees to accept the transfer. referred to in Section 10(c), any additional your death and accordingly these Terms and information issued to the shareholders If you wish to transfer part of your Conditions shall be binding on your personal until the election is withdrawn by written Schroders ISA, the value of the part representative(s). Subject to such formalities notice to Schroders. remaining must be at least the same as the as Schroders may specify, Schroders shall sum of your contributions over the current pay the net proceeds of sale of all Units or (c) You may, on giving written notice to tax year and must also be at least £1,000. Shares in your Schroders ISA to (or to the Schroders, elect in respect of Units or Subject to such a minimum value, where order of) your personal representatives. Shares held in your Schroders ISA to attend you request a transfer of part of your (c) Termination in accordance with this meetings of unitholders or shareholders, Schroders ISA and it includes more than to exercise voting rights and to receive Section 19 shall be without prejudice to the one Unit Trust, OEIC or Investment Trust, completion of transactions already initiated. in addition to the documents referred to unless we are instructed otherwise, we (d) Schroders will give you reasonable in Section 10 any additional information will sell the Units from the Unit Trusts, the written notice of its intention to cease to issued to unitholders or shareholders until Shares from the OEICs and/or the Shares act as an ISA manager. If after Schroders the election is withdrawn by written notice from Investment Trusts you hold in your has given you such notice you fail to give a to Schroders. Schroders ISA split proportionately across direction under Section 18(a) above, your

Schroders Investment Trust ISA 4 Schroders ISA will terminate and Schroders 21. Liability 24. Delegation, will transfer to you all Units or Shares held in your Schroders ISA. Assignment and Transfer Schroders only accepts liability for (e) Where your Schroders ISA terminates any negligence, wilful default or fraud pursuant to paragraph (a) above, committed by it, or any other Schroders (a) Your Schroders ISA may not be Schroders will sell all the Units or Shares Company or their respective employees transferred by you to another party. held in your Schroders ISA and will pay you and for any breach of these Terms and (b) Subject to any required HM Revenue the net proceeds of such sale. Conditions, save for: and Customs approvals and the provision (f) Notwithstanding the above, Schroders (a) any loss or damage suffered as a result of reasonable written notice to you. may deduct from the amount of any of circumstances which are beyond its Schroders may assign or transfer any payment, any sums due to Schroders reasonable control or that of any other rights and obligations under these Terms pursuant to these Terms and Conditions Schroders Company; or and Conditions, in whole or in part to any (except where the Schroders ISA is being subsidiary of Schroders plc or ultimate transferred to another ISA manager). (b) any loss of opportunity whereby the holding company of Schroders plc (if any) Schroders may also determine and value of the Schroders ISA could have that is authorised and regulated by the FCA. been increased or for any decline in value deduct a sum representing any of your In relation to any such transfer, we tax liabilities or those of your personal of the Schroders ISA (other than due to the negligence, wilful default or fraud may transfer your client money or your representative(s) in connection with designated investments (as both are the Schroders ISA for which Schroders of Schroders or of any other Schroders Company or their respective employees). defined in the FCA Rules) to any subsidiary is, or may be, or becomes accountable. of Schroders plc or ultimate holding Schroders may sell Units or Shares held in No warranty is given by Schroders as to the performance or profitability of any of the company of Schroders plc (if any). Any the Schroders ISA if it considers it necessary sums of client money or any designated to do so in order to pay any such sums. Units or Shares in the Schroders ISA. For the purposes of this Section 21, references investments transferred will be on terms (g) Following termination of your Schroders to Schroders shall be deemed to include which require the return of such relevant ISA a closing statement will be prepared references to Schroders nominees. asset to you as soon as reasonably and forwarded to you. Schroders will make practical upon your request. Any such no direct charge for the termination of assets transferred will be held by the your Schroders ISA. 22. Indemnity receiving party in accordance with the (h) Following termination of your Schroders relevant rules applicable to client money or designated investments or other adequate ISA, Schroders may continue to receive You and your personal representative(s) measures will be applied to protect income in respect of the Units or Shares shall indemnify Schroders and any such assets. In the event that your client held in your Schroders ISA prior to its other Schroders Company against all money is transferred to any subsidiary of termination. Where this occurs we will proceedings, actions, costs, claims Schroders Plc or ultimate holding company send you all payments in excess of £1 at or demands and any other liabilities of Schroders plc (if any), as part of any such a later date to cover this income. If the whatsoever (including any demands or transfer, we will notify you at the address amount is less than £1 the proceeds will be claims by HM Revenue and Customs) held on our register no later than seven paid to charity. incurred by Schroders in connection with days after the transfer: (i) These Terms and Conditions shall your Schroders ISA, unless the same arise continue to be enforceable between by virtue of negligence, 1) whether the relevant assets will continue to be held in accordance with the client you and Schroders unless and until wilful default, fraud or breach of the FCA money rules and, if not, how the assets will HM Revenue and Customs treats your Rules or these Terms and Conditions be held; Schroders ISA as void under the Treasury by Schroders or by any other Schroders Regulations at which time your Schroders Company or their respective employees. 2) the extent to which the assets ISA will terminate automatically. transferred will be protected under a 23. Conflicts of Interest compensation scheme; and 20. Information for 3) that you may opt to have your transferred asset(s) returned to you as Schroders A conflict of interest is where a firm has soon as practicable upon your request. competing obligations or interests that (c) Schroders may employ agents to advise would make it difficult to fulfil its duties You will immediately inform Schroders in on or perform any of its obligations under fairly, for example where the firm is likely writing of any changes in the information these Terms and Conditions provided it is to make a financial gain or avoid a financial provided by you on the application satisfied that such agents are competent to loss at the expense of the client. Under form. Schroders is authorised by you advise on or perform those obligations. the MiFID provisions we are required to to disclose any information relating have Conflicts of Interest policies and to your Schroders ISA to HM Revenue procedures. Schroders is primarily an and Customs, the FCA and as otherwise asset management business and we are required by law or regulations. not presented with the major potential conflicts faced by investment banking groups. However, we have policies and procedures in place to identify and either avoid, manage or disclose conflicts of interest in our business appropriately.

5 Schroders Investment Trust ISA 25. Amendment 28. Law and Regulation

Schroders may vary any of these Terms These Terms and Conditions are based on and Conditions to reflect changes in Schroders’ understanding of current law law or regulation or any changes in and the Treasury Regulations and may the scope and nature of the services be subject to change in the future. Your Schroders provides under these Terms Schroders ISA will be governed by and and Conditions (provided that no variation construed in accordance with English law. shall be made which results in the These Terms and Conditions are, and all Schroders ISA ceasing to qualify under future communications will be, in English. the Treasury Regulations) but will not do The English courts have jurisdiction in so without giving you at least 14 days’ respect of any claim between you and prior written notice. Schroders may Schroders. from time to time make non- material alterations to the Terms and Conditions, for example, to clarify any ambiguities, 29. How we use of which you will not be notified. your information However, you can view the most up to date version of the Terms and Conditions on Schroders’ website. For the purposes of the General Data Protection Regulation 2016/679, the data controller in relation to any personal data 26. Complaints and you supply is Schroders. Information you Compensation supply may be processed for the purposes of investment administration by any Schroders Company to another Schroders Any complaints that you may have should Company, by third parties who provide be addressed to the Head of Investor services to Schroders Companies and by Services. If Schroders fails to resolve your your financial adviser, and such processing complaint satisfactorily you have the may include the transfer of data out of right to refer the complaint directly to the the European Economic Area. You hereby Financial Ombudsman Service, Exchange consent to the processing of your personal Tower, London E14 9SR (website: www. data by Schroders and the persons listed financial-ombudsman.org.uk). above for such purposes. We will not In the event of Schroders being unable keep your information for longer than is to meet its liabilities, you may be entitled necessary and will take steps to ensure that to compensation under the Financial it is kept up to date. We are required by law Services Compensation Scheme. Currently, to make available to you a privacy policy the maximum level of compensation you which details how we collect, use, disclose, can receive from the Scheme for a claim transfer, and store your information. For against an investment firm is 100% of an electronic copy of this privacy policy the first £50,000 per person. For further please go to www.schroders.com/en/ information on the Scheme, you can privacy-policy, or to request a paper copy contact the Financial Conduct Authority please telephone us on 0800 718 777 or or the Financial Services Compensation write to us at Schroders, Investor Services Scheme or visit www.fscs.org.uk. Department, FREEPOST, RLTZ-CHSY-HBUT, PO BOX 1102, Chelmsford, CM99 2XX. You have a right under the General Data 27. Notices or Requests Protection Regulation 2016/679 to ask what information we hold about you. You can do Notices or requests made by you to this by writing to us at the details above. Schroders shall be in writing and shall be acknowledged by Schroders either verbally or in writing.

Issued in September 2018 by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered in England No. 4191730. Authorised and regulated by the Financial Conduct Authority. CS00437