PRODUCT KEY FACTS Macquarie Unit Trust Series- Macquarie IPO China Gateway Fund 30 April 2018

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1 PRODUCT KEY FACTS Macquarie Unit Trust Series- Macquarie IPO China Gateway Fund 30 April 2018 This statement provides you with key information about this product. This statement is a part of the Hong Kong offering document. You should not invest in this product based on this statement alone. Quick facts Manager: Sub-Manager: Trustee: Service Provider to the Trustee: Macquarie Funds Management Hong Kong Limited Macquarie Investment Management Australia Limited (an Australian company, internal delegation) HSBC Trustee (Cayman) Limited HSBC Institutional Trust Services (Asia) Limited Ongoing charges over a year#: Share class with performance fees without performance fees Classes A1, A2, A3 1.93% 1.93% Dealing frequency: Base currency: Dividend policy: Financial year end of this Sub-Fund: Daily USD No distribution will be made and any income and gains will be reinvested. 30 June Minimum initial subscriptio USD3,000 (Class A1, A2) HKD10,000 (Class A3) Minimum subsequent subscription: USD1,000 (Class A1, A2) HKD5,000 (Class A3) # The ongoing charges figure is based on expenses for the year ended 30 June This figure may vary from year to year. What is this product? The Macquarie IPO China Gateway Fund (the "Sub-Fund") is a sub-fund of Macquarie Unit Trust Series (the "Fund"), which is an exempted umbrella unit trust established in the Cayman Islands.

2 Objectives and Investment Strategy Objective The objective of the Sub-Fund is to capture the growth of IPO Securities from their offer and during the early stages of listing. This exposure will be achieved: directly by investing in shares or other related financial instruments which are or will be listed predominantly on stock exchanges in Hong Kong, Singapore, Taiwan or the USA (the Direct Portfolio ); and indirectly by investing in the Macquarie IPO China Concentrated Core Fund (the Indirect Portfolio ). IPO Securities are defined as securities of companies which have been listed within the past 1000 days. IPO Securities not listed in Hong Kong, Singapore, Taiwan must relate to companies which derive or are expected to derive a significant portion of their revenues from Greater China or Singapore. Greater China means the PRC, Hong Kong, Macau and Taiwan. Investment Strategy The Manager determines the Direct Portfolio using quantitative and qualitative criteria including market capitalisation, liquidity, size of free float, fundamental value and market diversification. The Manager will generally seek to acquire new IPO Securities through the initial public offering of the relevant IPO Securities or on the market after listing. The eligible universe includes listed equities with a focus on IPO Securities listed in Hong Kong, Singapore, Taiwan and the United States. In the case of IPO Securities not listed in Hong Kong, Singapore or Taiwan, the IPO Securities must relate to companies which derive or are expected to derive a significant portion of their revenues from Greater China or Singapore. The Sub-Fund intends to invest no more than 30 per cent. of its Net Asset Value in IPO Securities which are listed in markets other than Hong Kong or Taiwan and which are not expected to derive a significant portion of their revenues from the PRC. The Sub- Fund does not invest in China A shares. The Sub-Fund may also invest up to 30% of its net assets in the Macquarie IPO China Concentrated Core Fund, i.e. the Indirect Portfolio. The Macquarie IPO Concentrated Core Fund was established to provide investors with exposure to PRC-related IPO Securities principally those listed in Hong Kong, US and Singapore. The Direct Portfolio may also acquire IPO Securities that are within the eligible universe of the Macquarie IPO China Concentrated Core Fund. Investments in the Direct Portfolio and Indirect Portfolio will in aggregate comply with the investment restrictions applicable to the Sub-Fund. The Manager will determine an appropriate number of positions to best serve the investment objectives of the Sub-Fund having regard to the relative size of allocations that the Sub-Fund would need to make to individual positions compared to the available liquidity and likely market impact and transaction costs of trading those positions. The number and relative size of the positions may be adjusted from time to time. Equity exposure in the secondary market may be achieved through investment in shares, depositary receipts, participation rights and potentially through other instruments which are linked to the performance of eligible IPO securities such as participation notes, equity swaps and equity linked notes, provided that exposure via investments in such derivative instruments (excluding ADRs and GDRs) shall not exceed 15% of the net assets of the Sub-Fund. In circumstances where the Sub-Fund holds cash, the Sub-Fund may invest in Asian equity market index futures contracts which the Manager considers will provide exposure to equity markets of Greater China or Singapore. The net aggregate value of the prices of futures contracts may not

3 exceed the lesser of 100% of cash held within the Sub-Fund or 20% of the Net Asset Value of the Sub-Fund. The Sub-Fund currently has no exposure to participation notes and index futures. Cash and money market instruments will also be held to manage the liquidity of within the Sub- Fund s portfolio. The Manager does not intend to hedge the foreign exchange risk in respect of the Sub-Fund. What are the key risks? Investment involves risk. Please refer to the Explanatory Memorandum for details including the risk factors. 1. Investment Risk: Investment involves risk which may result in loss of part or the entire amount of your investment. 2. IPO Securities Risk: The Sub-Fund may invest in IPO Securities and the price performance of these securities may be difficult to assess due to lack of trading history. 3. Emerging Markets Risk: The Sub-Fund may invest in emerging markets such as China and Taiwan, which are subject to higher risk of economic, political and regulatory changes. These changes may pose additional risk to the Sub-Fund and securities linked to these markets are subject to higher volatility and liquidity risks than funds investing in developed markets. 4. Liquidity Risk: The ability of the Sub-Fund to invest and to liquidate assets may, from time to time, be restricted by the liquidity of the market for those assets. 5. Currency Risk: Certain investments of the Sub-Fund may be denominated in currencies other than the base currency of the Sub-Fund. The value of those investments (when converted to the base currency of the Sub-Fund) may fluctuate significantly due to changes in the exchange rates. 6. Risk of Conflict of Interest: The Manager, the Sub-Manager and the Trustee (and their related parties) may from time to time act for themselves or their clients in such a manner that gives rise to potential conflicts of interest with the Sub-Fund. In particular, they may act on behalf of other funds which use investment strategies that are identical or similar to, or in competition with, the Sub-Fund. 7. Performance Fee Risk: The method of calculating performance fee gives rise to the risk that a unitholder redeeming units may still incur a performance fee in respect of the units, even though the redeeming unitholder has suffered a loss in capital over the term of his or her investment. How has the Sub-Fund performed?

4 120% 106.5% 80% 40% 15.5% 21.0% 18.9% 9.6% 29.1% 0% -40% -36.1% -3.3% -17.6% -80% -61.8% -120% Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To- NAV, with dividend reinvested. These figures show by how much the Class A1 increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Class A1 is selected as representative share class as it has the longest track record. When no past performance is shown there was insufficient data available in that year to provide performance. Sub-Fund launch date: 8 August 2007 Class A1 launch date: 8 August 2007 Is there any guarantee? This Sub-Fund does not have any guarantees. You may not get back the full amount of money you invest. Investments in the Sub-Fund are not deposits with or liabilities of Macquarie Bank Limited ABN ( Macquarie ) or any Macquarie Group company and are subject to investment risk, including possible delays in repayment and loss of income and capital invested. None of Macquarie or any other Macquarie Group company guarantees the performance of the Sub-Fund, the repayment of capital from the Sub-Fund or any particular rate of return. What are the fees and charges?

5 Charges which may be payable by you You may have to pay the following fees when dealing in the units of the Sub-Fund. Fee Subscription Fee (or Preliminary Charge) What you pay Up to 5% of the subscription amount Conversion Charge (or Switching Fee) Nil * Redemption Fee Nil Ongoing fees payable by the Sub-Fund The following expenses will be paid out of the Sub-Fund. They affect you because they reduce the return you get on your investments. Management Fee 1.5 % p.a. of the Sub-Fund's Net Asset Value.* Trustee Fee Nil. Currently, this is borne by the Manager and not by the Sub-Fund. * Performance Fee 10% of the positive difference between the Net Asset Value per Unit on a Dealing Day (net of other fees and expenses) and the Benchmark Value. The Benchmark Value is 5.0% p.a. above the High Water Mark on an adjusted basis. The High Water Mark is initially set at the Issue price per Unit. Thereafter, the High Water Mark is the higher of the Issue price and the highest Net Asset Value per Unit as at the end of any previous performance period (on an adjusted basis). The performance period corresponds to the financial year of the Sub-Fund. For further details please refer to the Explanatory Memorandum. Administration Fee 0.25% p.a. of the Sub-Fund's Net Asset Value. * * These fees may be increased, up to the permitted maximum level specified in the Explanatory Memorandum by giving the relevant unitholders at least three months prior notice. The management fee stated is the aggregate fees payable to the Manager and the Sub-Manager. Other Fees You may have to pay other fees when dealing in the shares of the Sub-Fund. The Sub-Fund will also bear the costs which are directly attributable to it, as set out in the Explanatory Memorandum. Additional Information You generally buy and redeem units of the Sub-Fund at the Sub-Fund s next-determined Net Asset Value (NAV) after an authorised distributor or the Service Provider of the Trustee receives your request in good order on or before 4:00 p.m. (Hong Kong time) on the relevant Dealing Day, which is generally every Business Day. Distributor(s) may impose different dealing deadlines for receiving instructions for subscriptions, redemptions or conversions. Please contact the relevant distributor for their respective Dealing Cut-off Time and procedures.

6 The Net Asset Value per unit of the Sub-Fund is published on each Valuation Day (i.e. Dealing Day) on the website: in the base currency of the relevant Class of Units. This website has not been reviewed by the Securities and Futures Commission. Investors may obtain the past performance information of other classes offered to Hong Kong investors and other information from the website (then click on Individual Investor and click on Macquarie IPO China Gateway Fund ). This website has not been reviewed by the Securities and Futures Commission. Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness.