The HSTECH ETF offers both listed class of Units (the “Listed Class Units”) and unlisted classes of Units (the “Unlisted Class Units”). This product brochure provides you with key information about the Unlisted Class Units in HSTECH ETF. Investors should refer to a separate statement for the offering of Listed Class Units. Switching between Unlisted Class Units and Listed Class Units is not available. IMPORTANT RISK WARNINGS/FUND INFORMATION FOR INVESTORS (Capitalised terms used herein but not otherwise defined will have the same meanings as defined in the Hong Kong Offering Document of the Hang Seng Investment Index Funds Series (the “Series”) and the relevant Appendix of Hang Seng TECH Index ETF (“HSTECH ETF”)) • The investment objective is to match, before fees and expenses, as closely as practicable the total return performance (net of withholding tax) of the Hang Seng TECH Index (the “Index”). • HSTECH ETF is subject to risks associated with Investing in Companies with Technology Themes. HSTECH ETF may invest in equity securities of companies which have high business exposure to technology related themes. Many of such companies have a relatively short operating history. As such, valuations of companies with this theme may be subject to significant instability and fluctuations in valuations. In addition, the valuation of companies with this theme may be higher than those of more traditional industries, and HSTECH ETF may suffer a loss when there is a revaluation of these securities. • HSTECH ETF is subject to risks associated with investing the industrials, consumer discretionary, healthcare, financials and information technology sectors. An investment in HSTECH ETF may be more vulnerable to price fluctuations of securities of companies in these industries and other factors that particularly affect these industries as compared to an investment in a fund having a more diverse portfolio of investments. • As HSTECH ETF’s investments are concentrated in securities of companies having major business exposure to selected technology themes, and those companies are incorporated in, or with majority of revenue derived from, or with a principal place of business in, the Greater region, HSTECH ETF is subject to sector and geographical concentration risks and its Net Asset Value is therefore likely to be more volatile than a broad-based fund. • The Index was launched on 27 July 2020. As such, the HSTECH ETF may be riskier than other index funds tracking more established indices with longer operating history. • HSTECH ETF is also subject to investment risk, equity market risk, tracking error risk, differences in dealing arrangements, fee and cost arrangements between Listed Class Units and Unlisted Class Units Risk, passive investment risk, risks relating to investments in companies with weighted voting rights, reliance on the same group risk, termination risk and currency and exchange rate control risk. • Investments involve risks and investors may lose substantial part of their investment in the HSTECH ETF. Investors should not only base on this material alone to make investment decisions, but should read the HSTECH ETF’s offering documents (including the full text of the risk factors stated therein) in detail. If investors have any doubt about the contents of this material, they should consult their investment adviser and obtain independent professional advice.

Hang Seng TECH Index ETF (Unlisted Class) Capture Future Growth Opportunities by Tracking the Hang Seng TECH Index Pricing based on the NAV of the Unlisted Class Units

The first unlisted

class of an ETF tracking the Hang Seng TECH Index Why Hang Seng TECH Index

Capturing the Growth Potential of the 30 Largest Technology-related Stocks in One-go

Increasing Importance of Technology in Hong Kong & China

Tech-related Companies Account for Majority of Tech-related Sectors Leading the Development of Hong Kong’s Top Traded Stocks1 China’s Economy

% of Total GDP Growth in China 20202 Turnover Rank Code Stock Equity (HK$ bn.) Turnover Overall GDP 2.3% IT, Software and IT Services 16.9% 1 700 Holdings 1,081.40 9.4% Finance 7.0% 2 3690 554.86 4.8% Construction 3.5% 3 9988 Holdings 501.11 4.4% Farming, Forestry, Animal 3.1% Husbandry, and Fishery 4 1810 Corporation 472.30 4.1% Real Estate 2.9%

5 941 341.45 3.0% Industry 2.4%

6 388 Hong Kong Exchanges & Clearing 261.09 2.3% Manufacturing 2.3% 7 1211 BYD Company 218.00 1.9% Transport, Storage, and Post 0.5% Semiconductor Manufacturing Wholesale and Retail Trades -1.3% 8 981 207.40 1.8% Renting and Leasing Activities International and Business Services -5.3% 9 2318 206.60 1.8% Accommodation and Restaurants -13.1% 10 883 CNOOC 190.97 1.7% Others 1.0% -15% -10% -5%0%5% 10% 15% 20% Total 4,035.18 35.2%

Hang Seng TECH Index’s Characteristics and Potential

Index Offers Diversification3 Robust Earnings Growth Potential for the Index

2022 Year-end forecasted earnings growth4 Hang Seng TECH Index 37.5% 40% Xiaomi Corporation 54.5%

Kuaishou Technology 89.0% 33%

Meituan 59.0%

Alibaba Group Holdings 40.4%

Tencent Holdings 39.2%

JD.com 46.2% 20% 49.0% 15% 14% 14% JD Health International 77.3%

Semiconductor Manufacturing International 77.4%

Alibaba Health Information Technology 61.4%

0% 20% 40% 60% 80% 100% Volatility 0% Average Volatility of the Top 10 Constituents 59% Hang Seng NASDAQ Hang Seng S&P 500 TECH Index 100 Index Index Index Volatility of the Hang Seng TECH Index 37% Note: Earnings growth does not represent the performance of the index

1. Source: Hong Kong Exchanges and Clearing Limited (“HKEx”), Hang Seng Investment Management Limited (“HSVM”), data as at 31 March 2021. Top 10 most active stocks by traded value for Q1 2021. Highlighted in green are technology-related companies, which may not be the constituents stock of the Hang Seng TECH Index.

2. Source: National Bureau of Statistics of China, as of 31 December 2020.

3. Source: Bloomberg, data as at 31 March 2021. Volatility is calculated using daily standard deviation for the past 1 year, annualised with 250 trading days. Top 10 Constituents refer to the top 10 holdings of the Index. Average Volatility of the Top 10 Constituents is calculated with simple average of the top 10 constituent stocks’ volatility. The data of JD.com Inc is calculated with its US- listed ADR due to a longer listing history. For other constituent stocks with less than 1 year of listing history, the volatility is calculated with its data since launch (excluding the first trading day).

4. Source: Bloomberg, data as at 31 March 2021. Earnings growth refers to the market consensus estimates of the index’s earnings per share growth. Innovative Selection Criteria, with an Attractive Fast Entry Mechanism5

Greater China Stocks listed on the HKEx main board Fast Entry Mechanism Eligibility Screening

> Turnover Requirements > Sector Requirements (Industrials / Consumer Discretionary / Healthcare / Financials / Information Technology) > High Business Exposure to Tech Themes (Internet / FinTech / Cloud / E-commerce / Digital) > Innovation Screening (Tech-enabled business/ “Homecoming” R&D Expense to Revenue Ratio ≥ 5% / YoY Revenue Growth ≥ 10% ) and Newly Listed Unicorns Top 30 companies ranked by market value Fulfilling specific conditions6 – Addition will normally be implemented after the close Hang Seng TECH Index of the 10th trading day of the new issue

Historical Performance of the Index7

400

300

200

100

0 12/2014 12/2015 12/2016 12/2017 12/2018 12/2019 12/2020 5/2021

Hang Seng TECH Index MSCI China Index

Note: Dotted line indicates back-test period.

Cumulative Return YTD 1 Year 3 Years 5 Years

Hang Seng TECH Index -3.72% 54.70% 55.45% 163.99%

Hang Seng Index 8.12% 31.44% 5.81% 67.06%

MSCI China Index 1.76% 38.88% 27.84% 119.35%

Covers the Largest Tech Stocks Listed in HK Index Industry Breakdown8 Index Top Holdings8

Financials Company Name Industry Index Weight 1.4% Consumer Discretionary Xiaomi Corporation Information Technology 10.2% 8.5% Alibaba Group Holdings Information Technology 8.7% Industrials 8.5% Meituan Information Technology 7.4% Information Tencent Holdings Information Technology 7.4% Healthcare Technology Sunny Optical Technology Industrials 6.8% 10.6% 71.0% JD.com Information Technology 6.0% JD Health International Healthcare 5.6% Kuaishou Technology Information Technology 5.5% Semiconductor Manufacturing International Information Technology 5.1% Alibaba Health Information Technology Healthcare 3.8%

5. Source: Hang Seng Indexes Limited (“HSIL”), as of 31 March 2021. 6. Besides the eligibility screening, a newly listed security will be added to the Index if its market capitalisation ranks among the top 10 of the existing constituents at the market close of its first trading day. 7. Source: HSVM, HSIL, Bloomberg, calculated in total return (with dividend reinvested), performance from 31 December 2014 (index base date) to 31 May 2021. All information for an index prior to its launch date is back-tested, back-tested performance reflects hypothetical historical performance. Back-tested index performance is for illustrative purposes only. Past performance is not indicative of future results. Investors cannot directly invest into the index. 8. Source: HSIL, as of 31 May 2021. Fund Information Aims to match, before fees and expenses, as closely as practicable the total Investment Objective return performance (net of withholding tax) of the Hang Seng TECH Index. Underlying Index Hang Seng TECH Index Base Currency HKD Unlisted Class Launch Date 28 Jun 2021 Class A (HKD) – Class A (USD) – Class D (HKD) – Fund Class Accumulation Units Accumulation Units Accumulation Units Subscription Fee Up to 5.0% of the Issue Price of the Units Management Fee 0.55% p.a. Ongoing Charges Over a Year9 0.87% Estimated Annual Tracking Difference10 -0.94%

Managed by the Leader in the Hong Kong ETF Market Launched Launched Launched Launched the the first SFC the only ETF so the world’s first Hang Seng authorised retail far in Hong Kong RMB denominated TECH Index index fund in that tracks gold ETF ETF Hong Kong the HSCEI 1995 2003 2012 2020 2000 2011 2013 Launched the first Launched the first The first Launched SFC authorised SFC authorised local financial one of the first leveraged fund ESG related fund institution ETFs under the in Hong Kong in Hong Kong in Hong Kong Hong Kong-Mainland to issue an ETF Cross-listing RQFII ETF Scheme Experience Size Market Share Awards

ETF

25 years HK$108bn 21 % 23 of experience as market awards received for of passive assets of market share in Hong Kong leader in local passive passively managed funds under management11 ETF market by AUM11 investment strategy over the past 5 years12

9. As HSTECH ETF (Unlisted Class) is newly set up, this figure is a best estimate only and represents the sum of the estimated ongoing charges over a 12-month period, expressed as a percentage of the HSTECH ETF’s estimated average Net Asset Value for the same period. It includes the set-up costs (amortised portion for the relevant period) of the HSTECH ETF and fees of the Manager and the Trustee. The actual figure may be different from the estimate. Please refer to the “Fees and Expenses Payable by the HSTECH ETF” section in the Hong Kong Offering Document for details. This figure may vary from year to year. 10. This is an estimated annual tracking difference. Investors should refer to the HSTECH ETF website for more up-to-date information on actual tracking difference. 11. Source: HSVM, as of 31 March 2021. 12. The awards were given by Morningstar, Bloomberg Businessweek, Lipper and Benchmark, as of 31 December 2020.

The mark and name “Hang Seng TECH Index“ (“the Index”) is proprietary to Hang Seng Data Services Limited (“HSDS”) which has licensed its compilation and publication to Hang Seng Indexes Company Limited (“HSIL”). HSIL and HSDS have agreed to the use of, and reference to, the Index by Hang Seng Investment Management Limited (“HSVM”) in connection with the HSTECH ETF. However, neither HSIL nor HSDS warrants, represents or guarantees to any person the accuracy or completeness of the Index, its computation or any information related thereto and no warranty, representation or guarantee of any kind whatsoever relating to the Index is given or may be implied. Neither HSIL nor HSDS accepts any responsibility or liability for any economic or other loss which may be directly or indirectly sustained by any person as a result of or in connection with the use of and/or reference to the Index by the Issuer in connection with the HSTECH ETF, or any inaccuracies, omissions or errors of HSIL in computing the Index. Any person dealing with the HSTECH ETF shall place no reliance whatsoever on HSIL and/or HSDS nor bring any claims or legal proceedings against HSIL and/or HSDS in any manner whatsoever. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker or other person dealing with the HSTECH ETF and HSIL and/or HSDS and must not be construed to have created such relationship. The content is prepared by HSVM and is (i) for training of sales staff or relationship personnel (“Sales Staff”) of HSVM’s distributors; or (ii) for reference of clients and/or potential clients of HSVM. The content shall not be changed or modified and the content shall not be used in any other manner unless with the prior written consent of HSVM. Distributors are reminded to comply with all regulatory requirement (including but not limited to due diligence on any investment product and ensuring suitability of the investment product for any potential investors). At the time of publication of the content, certain information of the content is obtained and prepared from sources which HSVM believes to be reliable, and HSVM does not warrant, guarantee or represent the accuracy, validity or completeness of such information. Under no circumstances shall the content constitute a representation that it is correct as of any time subsequent to the date of publication. HSVM reserves the right to change the content without notice. The content is for reference only and is the view of HSVM and does not constitute and should not be regarded as an offer or solicitation to anyone to invest into any investment product. Distributors, Sales Staff, clients and potential clients of HSVM should read the relevant investment product’s offering document (including the full text of the risk factors and charges stated therein). Investment involves risks (including the risk of loss of capital invested), prices of investment product units may go up as well as down, past performance is not indicative of future performance. A positive distribution rate (if any) does not imply a positive return. Fund award (if any) is for reference only and does not guarantee any fund performance or the performance of HSVM. If Distributors, Sales Staff, clients and potential clients of HSVM have any doubt about the content or investment product (including its offering document), they should seek independent professional financial advice. HSVM will not be liable to anyone for any cost, claims, fees, penalties, loss or liability incurred if the content is improperly used. The content shall not be duplicated or stored or distributed or “Hang Seng Investment Management Limited”, “恒生投資管理有限公司”, “ 恒生投資管理” or any marks containing these names shall not be used without the prior written consent of HSVM. HSVM and Hang Seng Indexes Company Limited and other index companies (collectively “Index Companies”) are separate and independent entities, HSVM’s views and opinions do not represent the views or opinions of the Index Companies and HSVM cannot influence Index Companies on any matter. Where the investment products referred to in the content have been authorized by the Securities and Futures Commission, such authorization is not a recommendation or endorsement of the investment products and does not guarantee the commercial merits of the investment products or their performance. It does not mean the investment products are suitable for all investors nor is it an endorsement of their suitability for any particular investor or class of investors. The content has not been reviewed by the Securities and Futures Commission. Issued by Hang Seng Investment Management Limited (wholly-owned subsidiary of Hang Seng Bank) 恒生投資指數基金系列 Hang Seng Investment Index Funds Series 恒生科技指數ETF (非上巿類別) HANG SENG TECH INDEX ETF (UNLISTED CLASS)

銷售文件 Offering Documents

(繁體) (English)

香港銷售文件 Hong Kong Offering Document

(繁體) (English)

產品資料概要 Product Key Facts Statement

年度財務報告 Annual Financial Report

投資者須注意所有投資均涉及風險(包括可能會損失投資本金)，基金單位價格可升亦可跌，而所呈列的過往表現資料並不表示 將來亦會有類似的表現。投資者在作出任何投資決定前，應詳細閱讀有關基金之銷售文件(包括當中所載之風險因素(就投資於 新興市場的基金而言，特別是有關投資於新興市場所涉及的風險因素)之全文)。 Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices of fund units may go up as well as down and past performance information presented is not indicative of future performance. Investors should read the relevant fund's offering documents (including the full text of the risk factors stated therein (in particular those associated with investments in emerging markets for funds investing in emerging markets)) in detail before making any investment decision.