1482 ishares US Treasury Bond 7-10 Year JPY Hedged ETF Data as of December 29, 2017 Top Ten Securities Holdings (% of Net Assets) UNITED STATES TREASU

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1 1482 ishares US Treasury Bond 7-10 Year JPY Hedged ETF Data as of December 29, 2017 Fund Description (Investment Policy) ishares US Treasury Bond 7-10 Year JPY Hedged ETF aims to achieve investment results that closely track the performance of the Citi US Treasury 7-10 Years Select Index Japanese Investment Trust, Currency-Hedged in JPY Terms. In principle, the Fund aims to use currency hedging to mitigate the risk of exchange rate fluctuations of assets denominated in foreign currencies. Index Description The Citi JPY-Hedged US Treasury 7-10 Year Select Index Japanese Investment Trust, Currency-Hedged in JPY Terms, is a market-capital weighted index that comprises of US Treasuries with maturity of at least 7 year and less than 10 year, excluding the 7-year on-the-run treasury. Fund Details Product Category Foreign Fixed Income ETF Ticker 1482 ISIN JP SEDOL TM BYVFBR5 Listed Exchange Tokyo Stock Exchange Trading Lot Size 1 Unit Inception Date 26-May-16 Trust Term Perpetual Management Fee See Page 9 Amount Equivalent to Execution Costs for Creations & for Redemptions See Page 7 & 8 Record Date Jan 11, Apr 11, Jul 11 & Oct 11 of Each Year Total Net Assets (Yen) 3,804,782,363 Number of Holdings 15 * For details on fees and charges, please refer to page 7. Fund Performance History (%) 1 Month 3 Months 1 Year 3 Year 5 Year Since Fund Inception NAV (Price Return) NAV (Total Return) Index The performance quoted represents past performance and does not guarantee future results. In addition, the performance of the fund NAV may deviate from the performance of the Citi JPY-Hedged US Treasury 7-10 Year Select Index Japanese Investment Trust, Currency- Hedged in JPY Terms. Fund Distributions Distribution Since Fund Inception JPY 5,500 Record date Distribution (JPY) 7/11/ /11/2016 1,100 1/11/ /11/ /11/2017 1,400 10/11/2017 1,100 Asset Class Breakdown Cash and others -0.4 (% of Net Assets) * Distribution is before tax, per 100 shares (JPY) * As a general rule, income distribution will be declared at the record date and paid the full amount of total income including dividend arising from trust assets is distributed after deduction of expenses. Past distributions are not indicative of future distributions. There is no guarantee that distributions will be paid. * Some or all of the amounts may be used as reserve for distribution in the next period and thereafter. Fixed Income * Weightings as of date shown and do not necessarily represent current or future portfolio holdings. Fund Characteristics Weighted Average Maturity * 8.45 Modified Duration ** 7.62 * Weighted Average Maturity is the average lengths of time to the repayment of the principal for the securities held for the fund. ** Modified Duration measures the responsiveness of the portfolio's price to the change in the interest rates. This document is provided for informational purposes only and does not constitute an offer or solicitation to purchase or sell units of the Fund. This document is directed only at persons within Japan and not directed at nor is it intended for distribution to, or use by, persons in any jurisdiction in which the investment products are not authorized for distribution or in which the dissemination of information regarding the investment products is not permitted. Any quoted performance is not indicative of future results. BlackRock does not guarantee the performance of the Fund. There are risks associated with investing, including the possible loss of principal. Before making any investment decisions, investors are advised to read the Fund prospectus carefully and make an appropriate decision considering their own circumstances. 1/10

2 1482 ishares US Treasury Bond 7-10 Year JPY Hedged ETF Data as of December 29, 2017 Top Ten Securities Holdings (% of Net Assets) UNITED STATES TREASURY NOTE/BOND 2.25% 2025/11/ % UNITED STATES TREASURY NOTE/BOND 2.125% 2025/05/ % UNITED STATES TREASURY NOTE/BOND 2% 2025/08/ % UNITED STATES TREASURY NOTE/BOND 2% 2025/02/ % UNITED STATES (% of TREASURY Net Assets) NOTE/BOND 2.375% 2027/05/ % UNITED STATES TREASURY NOTE/BOND 2.25% 2027/02/ % UNITED STATES TREASURY NOTE/BOND 2.25% 2027/08/ % UNITED STATES TREASURY NOTE/BOND 2% 2026/11/ % UNITED STATES TREASURY NOTE/BOND 1.625% 2026/05/ % UNITED STATES TREASURY NOTE/BOND 1.625% 2026/02/ % Maturity Breakdown (%) Country Breakdown (%) Cash and others * Weightings as of date shown and do not necessarily represent current or future portfolio holdings. Risks Investing on ishares funds involves risk, including possible loss of principal. All profits and losses arising from the investment of ishares funds are attributable to the investor. Please see page 3 for the details. Commission, Fees and Expenses [Commissions] Brokerage commissions for ishares funds are determined by Financial Instruments Business Operators ( FIBO ), e.g., stock brokerage firms. For further details, please contact the respective FIBO. [Fees and Expenses] Investors will indirectly incur certain fees and expenses, including, but not limited to, investment management fees if they own the unit of ishares fund. Please see page 7 for the details. The units of the Fund are traded on the Tokyo Stock Exchange. Their market prices on the exchange are based on secondary market trading factor such as market supply and demand, and may deviate from the net asset value of the Fund. Copyrights and others of Citi JPY-Hedged US Treasury 7-10 Year Select Index Japanese Investment Trust, Currency-Hedged in JPY Terms" Copyright 2016, Citigroup Index LLC. All rights reserved. CITIGROUP is a registered trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by BlackRock, Inc. and certain of its affiliates. Reproduction of the Citigroup data and information in any form is prohibited except with the prior written permission of Citigroup Index LLC ( Citigroup ). ishares ETF is not sponsored, endorsed, sold or promoted by Citigroup, and Citigroup makes no representation regarding the advisability of investing in such Fund. Because of the possibility of human or mechanical error, Citigroup does not guarantee the accuracy, adequacy, completeness or availability of any data and information and is not responsible for any errors or omissions or for the results obtained from the use of such data and information. CITIGROUP GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall Citigroup be liable for any direct, indirect, special or consequential damages in connection with any use of the Citigroup data and information BlackRock Japan Co.,Ltd. All rights reserved. ishares and BlackRock are registered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. BlackRock Japan Co., Ltd. Registered as financial instrument firm: Director General of the Kanto Local financial Bureau (Kinsho) No. 375 Association: Japan Investment Advisers Association, The Investment Trusts Association, Japan, Japan Securities Dealers Association, Type II Financial Instruments Firms Association This document is provided for informational purposes only and does not constitute an offer or solicitation to purchase or sell units of the Fund. This document is directed only at persons within Japan and not directed at nor is it intended for distribution to, or use by, persons in any jurisdiction in which the investment products are not authorized for distribution or in which the dissemination of information regarding the investment products is not permitted. Any quoted performance is not indicative of future results. BlackRock does not guarantee the performance of the Fund. There are risks associated with investing, including the possible loss of principal. Before making any investment decisions, investors are advised to read the Fund prospectus carefully and make an appropriate decision considering their own circumstances. 2/10 United States 100.4

3 Investment Risk Factors that contribute to fluctuations in the NAV of the Fund The NAV of the Fund is affected by the exchange rate fluctuations as well as the fluctuations of the invested securities held for the account of the Fund. All profits and losses arising from investment management of these trust asset investments are attributed to the investors. Accordingly, the principal amount of the Fund and profits arising from these investments are not guaranteed. Investors may incur a loss and the value of their investment principal may fall below its original principal amount as the result of a decline in the NAV. Investment trusts are different from bank deposits. The Fund s major risks are as follows: - Interest Rate Risk The Fund invests in US treasury bonds. The price of bonds decreases in the case of increase in interest rates due to the effects of politics, economics, social conditions and other matters, and increases in the case of decrease in interest rates due to such effects. Accordingly, the performance of the Fund is affected by fluctuations in interest rates. - Credit Risk The Fund invests in US treasury bonds. Default may occur due to the financial conditions of the issuer of bonds in which the Fund invests. In the case of the occurrence of default, the price of bonds decreases, and the performance of the Fund is otherwise affected. Also, the price of bonds may fluctuate due to changes in the rating of bonds. Accordingly, the performance of the Fund is affected by such fluctuations. - Risk of Exchange Rate Fluctuations The Fund invests in assets denominated in foreign currencies. Although the Fund aims to ensure returns in JPY terms and conducts currency hedging in principle, the Fund is unable to fully conduct such hedging for the investment assets and the entire amount of returns arising from the investment assets. In addition, if the interest rate of the hedged currency is higher than that of Japanese yen, hedging costs will arise. - Country Risk The Fund invests in US treasury bonds. The price of bonds may fluctuate due to political or economic situations, currency or capital regulations and other factors of the country in which the Fund invests. Accordingly, the performance of the Fund is affected by such fluctuations. - Risk of Derivative Transactions The Fund may use derivative transactions such as futures and option transactions. This investment method is used for investing efficiently or protecting the Fund from the effects of fluctuations in securities prices, market interest rates and foreign exchanges, etc. Derivative transactions result in the occurrence of costs and risks, which affect the performance of the Fund. In addition, derivative transactions will not necessarily be used, and 3/10

4 there is no guarantee that the original goal can be achieved even if derivative transactions are used. - Securities Lending Risk Lending of securities involves counterparty risks, which are the risks of contractual default by the counterparty due to its insolvency or other events, and the Fund may suffer losses. Other considerations The provision stipulated in Article 37-6 of the Financial Instruments and Exchange Act ( cooling-off period ) is not applicable to the Fund s transactions. Considerations regarding profit distribution - Unlike interest earned on bank deposits, distribution is paid out of the Fund s net assets. Thus, the Fund s NAV declines by the distribution amount when it pays out distribution. - The distribution amount does not necessarily indicate the rate of return earned by the Fund during such financial period. Risk Management Framework The management company places an emphasis on risk oversight, and risks are managed using its proprietary system. More specifically, the Fund s investment risk is measured and analyzed, and investment restrictions are monitored by an independent risk management department. This department confirms that the Fund s investment risk profile meets the investment guideline, and gives feedback to investment teams and other relevant departments, with internal sharing of relevant results. Additionally, the management company s operational risks are clearly defined in operational guidelines, and managed accordingly. 4/10

5 Procedures, Fees and Other Items Application Memo Creation Unit 100,000 units or more in multiples of one unit The management company or authorised participants* may determine creation units other than those set out above. authorised participants. For further information, please contact the * The authorised participants shall be the type I financial instruments firms that are designated by the management company as persons to create and redeem the Units. Creation Price Initial offer period: 2,500 yen per Unit. Subsequent offer period: Amount equal to the NAV on the business day immediately following the day on which a creation application is accepted added by the amount equivalent to the execution costs for creation * The NAV of the Fund is indicated as the value per 100 units. * For more information of the amount equivalent to the execution costs for creation, please see Fund Expenses on page 15. Payment of creation Amount Redemption Unit Redemption Price Please pay the creation amount by the day designated by the authorised participants. 100,000 units or more in multiples of one unit The management company or authorised participants may determine creation units other than those set out above. For further information, please contact the authorised participants. Amount equal to the NAV on the business day immediately following the day on which a redemption application is accepted less the amount equivalent to the execution costs for redemption * For more information on the amount equivalent to the execution costs for redemption, please see Fund Expenses on page 15. Payment of Redemption Amount Application Cutoff Time Creation Application Period The authorised participants will pay the redemption amount on and after the fourth day following the day on which a redemption application is accepted in principle. Applications accepted by 3:00 p.m. are treated as applications made on the application date; provided, however, that the application cutoff time may differ depending on the authorised participants. For further information, please contact the authorised participants. Initial offering period: May 25, 2016 Subsequent offering period: From May 26, 2016 to April 26, 2017 *The application period is renewed by way of the filing of a securities registration statement before the expiration of the above period. Restrictions on An application for large redemption may be restricted. 5/10

6 Redemption Days on which Applications for creation and redemption of Units may not be accepted on the Creation and following days and periods (as outlined in 1) through 4) below). Redemption Dates on which the New York Stock Exchange or banks in New York are not open for Applications are Not business Accepted For a period of two business days, beginning two business days prior to the last day of the relevant financial period of the fund (record dates) (or, if such date falls on a holiday, for a period of three business days, beginning three business days prior to the account close date) In the event that the management company determines the Fund cannot be managed according to the Fund s investment policies provided in the Trust Deed due to unavoidable circumstances. Any event other than in 1) through 3) above in which the management company determines that the Fund s operations may be undermined due to unavoidable circumstances. Suspension and In cases where trading on stock exchanges is halted, foreign currency transactions Cancellation of are suspended, settlement functions are suspended, circumstances are beyond the Application for control of the management company, or the management company otherwise deems Creation and necessary, the management company may suspend and/or cancel the applications Redemption for creation and redemption of Units. Trust Period Indefinite period (Established on May 26, 2016) Early Termination The management company may terminate the trust early before the expiration of the trust term (early redemption) if it considers that the termination is beneficial to the investors, the number of Units is less than 200,000, or circumstances beyond the Management Company s control necessitate. The trust may also be terminated if the Fund s units are delisted from all the stock exchanges on which they are listed, or if the Index is discontinued. Record Dates 11th day of January, April, July and October of each year *The initial record date is July 11, Distribution Distributions are paid four times a year in accordance with the Fund s distribution policy. Maximum Trust The maximum amount of trust assets is 10 trillion yen. Assets Public Notification of Public notice the management company issues to unitholders shall be posted on the Important website shown below by means of electronic notice: Announcements Management Reports No management reports will be prepared or published. 6/10

7 Tax Treatment For tax purposes, to be treated as listed securities investment trusts, etc. Listed securities investment trusts, etc. are eligible under the Nippon Individual Savings Account system under tax laws. Tax credit for distributions or the exclusion from gross revenue system do not apply. Fund Expenses Expenses to be borne directly by investors Details of expenses Broker Commissions Authorised participants may independently set Consideration for charged on creation application commissions (including consumption administrative procedures orders taxes, etc.), and receive them from investors. relating to the creation Please contact the Authorised participants for further information. Amount equivalent to At the time of creation, the NAV on the business * For further information, please execution costs for day immediately following the day on which a see Amount Equivalent to creation creation application is accepted multiplied by the Execution Costs for Creation and percentage designated by the management Amount Equivalent to Execution company will be imposed as the amount equivalent Costs for Redemption below. to execution costs for creation. Amount equivalent to At the time of redemption, the NAV on the business * For further information, please execution costs for day immediately following the day on which a see Amount Equivalent to redemption redemption application is accepted multiplied by Execution Costs for Creation and the percentage designated by the management Amount Equivalent to Execution company will be imposed as the amount equivalent Costs for Redemption next page. to execution costs for redemption. Broker Commissions If an authorised participant receives a request for Consideration for charged on redemption redemption or repurchase of Units from an administrative procedures (repurchase) orders investor, it may receive commissions (including relating to the redemption consumption taxes, etc.) that it independently sets (repurchase) from the investor. Please contact your authorised participants for further information. * Because the rate of the amount equivalent to execution costs for creation and the amount equivalent to execution costs for redemption may fluctuate from time to time, it is not possible to indicate the maximum rate, etc. in this document. Applicable rate of the amount equivalent to execution costs for creation and the amount equivalent to execution costs for redemption will, in principle, be presented to the authorised participants on the business day immediately preceding the day on which a creation application or redemption application is accepted (unless an unavoidable event occurs). Please contact the authorised participants for the rates applicable on each business day. Please note that an amount equivalent to execution costs for repurchase requests will also arise when repurchase requests are made upon delisting. * The total amount of commissions, expenses, etc. of the Fund to be borne by investors varies depending on the holding period of the shares of the Fund. 7/10

8 * Broker commissions charged on creation orders and redemption (repurchase) fees include consumption tax and local consumption tax. Amount Equivalent to Execution Costs for Creation and Amount Equivalent to Execution Costs for Partial Redemption The amount equivalent to execution costs for creation imposed upon creation and the amount equivalent to execution costs for redemption imposed upon redemption (collectively, the Spread ) are set for the purpose of causing an investor making creation or redemption of the Fund to bear the transaction costs and other expenses incurred by the trust assets arising from such creation or redemption. The Spread will be calculated by multiplying the NAV relating to such creation or redemption by certain rates. By setting the Spread separately for each respective instance of creation or redemption, it is intended to secure the fairness between investors of the payment of the transaction costs and other expenses arising from such creation or redemption. The creation price and the redemption price will be calculated as follows: - Creation price upon additional creation (at the time of creation): NAV + Amount equivalent to execution costs for creation - Redemption price upon redemption (at the time of redemption) : NAV - Amount equivalent to execution costs for redemption The Spreads are calculated mainly using the following formula: the difference between (1) and (2) or weighted against (4) (3) where: (1) is the price for valuating incorporated issues for the purpose of the total net asset value of the Fund; (2) is the estimated transaction price at the time of sale and creation of calculating incorporated issues; (3) is all fees, taxes and other transaction costs separately collected in relation to the trading of incorporated issues, etc.; and (4) is the allocation ratio of incorporated issues in the Fund. In addition, the amount equivalent to execution costs for creation imposed upon creation and the amount equivalent to execution costs for redemption imposed upon redemption are separately set. Notwithstanding the foregoing, the amounts may be calculated properly taking into account other elements that are determined to be effective for estimation of the estimated transaction price or transaction costs of issues to be sold or purchased according to the market movement, management status and other matters at the time of calculation. 8/10

9 Expenses to be borne indirectly by investors (i.e. expenses paid out of the Fund s assets) Management Fee The Fund s total net assets at an annual rate of (Trust Fee) %* (0.14% excluding taxes) or less * Management fees (trust fees) are paid out of the Fund s assets at the end of each fiscal year and at trust s Details of expenses Management fees (trust fees) = NAV during the management term x trust fee rate Other Expenses and Fees termination. Breakdown of Management Annual rate Management Company of % Fee (0.11% excluding taxes) Trustee Annual rate of % (0.03% excluding taxes) The Fund s total net assets at the maximum annual rate of % (0.0375% excluding taxes) are paid out of the Fund s assets for listing fees and usage fees of trademark of the Index at the end of each fiscal year and at trust s termination. Fund s costs and expenses, brokerage commissions, expenses for keeping in custody assets denominated in foreign currencies, and other fees are paid out of the Fund s assets from time to time. If the Fund conducts securities lending, at most one half of the amounts of negative interest of per diem, which are proceeds of the Fund, will be paid to the entrusted company etc. as fees from time to time. * Rates, maximum amounts, etc. of other expenses and fees are not shown in advance as they fluctuate with past performance and other factors. Consideration for fund management, calculation of the NAV, preparation of various documents, and other related services Consideration for administration of investment assets, execution of instructions received from the management company, and other related services - Fund s costs and expenses: Auditing fees of the Fund s financial statements, taxes imposed on the trust assets, fees charged on fund management, and interests accrued on the amount paid by the trustee company in advance - Brokerage commissions: Commissions charged on buy and sell orders of Fund s investment securities - Expenses for keeping assets denominated in foreign currencies: Expenses necessary for keeping in custody of securities, wire 9/10

10 transfer of funds, and transfer of assets to be paid to the foreign custody banks and other institutions * The total amount of commissions, expenses, etc. of the Fund to be borne by investors varies depending on the holding period of the shares of the Fund. * Management fees (trust fees), and other expenses and fees include consumption tax and local consumption tax. Page 3-10 of this material is an English translation of the excerpt from the Delivery Prospectus of ishares Nikkei 225 ETF (the Fund ). This translation is not required by law or any regulation. Other Fund documents including the Upon- Request Prospectus, Investment Reports, Securities Registration Statements and other offering/ongoing disclosure documents, as well as this Delivery Prospectus, are in Japanese and are intended for investors who can understand Japanese. This material was prepared by BlackRock Japan Co., Ltd. for informational purpose only and may not be used for the purpose of offering or solicitation of any securities (including units of the Fund) to any person or entity in any jurisdiction. Neither this material nor any part hereof may be reproduced, transmitted, reprinted, or redistributed without the prior written authorization of BlackRock Japan Co., Ltd. The accuracy or completeness of this translation is not guaranteed. In the event of any inconsistency between this English translation and the Japanese version, the Japanese version shall prevail. Except as otherwise indicated herein, this material is based on the Japanese version dated as of May 10, In case of any update to or modification of the Japanese version of the adhesive terms and conditions, there is no guarantee that a corresponding update or modification will be made to this English translation. 10/10