Important Information

1 iNAV calculations as shown on www.lazardassetmanagement.com (the “data”) and provided by ICE Data Indices, are updated during Cboe trading hours. Powered by Factset. iNAV calculations are indicative and for reference purposes only. The Fund is not sponsored, endorsed, sold or marketed by ICE Data Indices, LLC, its affiliates (“ICE Data”) or their respective third party suppliers. ICE DATA OR ITS THIRD PARTY SUPPLIERS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE iNAV, IOPV, FUND OR ANY FUND DATA INCLUDED THEREIN. IN NO EVENT SHALL ICE DATA HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. You acknowledge that the data is provided for information only and should not be relied upon for any purpose.

2 The Lazard Global Listed Infrastructure Active ETF (‘Active ETF class’), formerly the Lazard Global Listed Infrastructure Fund – W Class, is a class of units in the Lazard Global Listed Infrastructure Fund ARSN 116 229 675. The Active ETF class is a dual-access active ETF with Issuer Sponsored and CHESS-Sponsored Sub-Registers. The dual-access structure enables investors to: 1) enter the Active ETF class either by applying for the units directly with Lazard using an Application Form or, by buying units on the Cboe Securities Exchange; and, exit the Active ETF Class either making a withdrawal request directly with Lazard using a Redemption Request Form or by selling units on the Cboe Securities Exchange.

This website has been prepared without taking account of any investor’s objectives, financial situation or needs. Investors should get professional advice as to whether investment in the Lazard Global Listed Infrastructure Active ETF (Active ETF) is appropriate having regard to their particular investment needs, objectives and financial circumstances before investing. Lazard has prepared a target market determination (TMD) for the Active ETF which sets out the class of consumers for whom the Active ETF including the Active ETF's key attributes, would likely be consistent with their likely objectives, financial situation and needs. A copy of the TMD is available at www.lazardassetmanagement.com.au, by contacting investorqueries@lazard.com, or from their IDPS operator. It is recommended that investors consider whether their objectives, financial situation and needs are consistent with the target market of the Active ETF. Investors should obtain a copy of the current Product Disclosure Statement (PDS) for the Active ETF, available at www.lazardassetmanagement.com.au, by contacting investorqueries@lazard.com, or from their IDPS operator and should consider the PDS before making any decision about whether to acquire or to continue to hold the Active ETF. Neither Lazard nor any member of the Lazard Group, including Lazard Asset Management LLC and its affiliates guarantees in any way the performance of the Active ETF, repayment of capital from the Active ETF , any particular return from or any increase in the value of the Active ETF.