Legal Notice

Please read these Terms of Use (“Terms”) carefully before accessing or using our website https://www.fundsmithetf.us/ (the “Website”) which is operated by Fundsmith LLP. By accessing or using any part of the Website, you agree to be bound by these Terms. If you do not want to agree to these Terms, you must not access or use the Website. If a provision of an agreement with a customer conflicts or otherwise is inconsistent with a provision of these Terms, then the terms of the customer agreement will prevail to the extent necessary.

Changes to the Terms and Conditions

Fundsmith LLP may revise and update these Terms from time to time in our sole discretion. All changes are effective immediately when we post them, and apply to all access to and use of the Website thereafter. Your continued use of the Website following the posting of revised Terms means that you accept and agree to the changes. You are expected to check this page from time to time so you are aware of any changes, as they are binding on you.

Regulatory Information

Fundsmith Investment Services Limited (“FISL”) is registered with the U.S. Securities and Exchange Commission (the “SEC”) as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. FISL’s Form ADV is available at http://www.adviserinfo.sec.gov and includes more information about the firm. Registration with the SEC or with any state securities authority does not imply a certain level of skill or training. Nothing contained in this Website should be construed as investment advice. Prior to making any investment or hiring any investment adviser you should consult with professional financial, legal and tax advisors to assist in due diligence as may be appropriate and determining the appropriateness of the risk associated with a particular investment.

Age Requirements

This Website is offered and available to users who are 18 years of age or older. By using the Website, you represent and warrant that you are of legal age to form a binding contract with us and you meet all of the foregoing eligibility requirements. If you do not meet all of these requirements you must not access or use the Website.

Intended Audience

This Website is directed at residents of the United States of America, and is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or that would subject Fundsmith LLP and/or its affiliates (“Fundsmith”), or any investment vehicle managed by such entities, to any registration or other requirement within such jurisdiction or country. You represent and warrant that (i) you are not located in a country that is subject to a U.S. Government embargo or that has been designated by the U.S. Government as a “terrorist supporting” country; (ii) you are not listed on any U.S. Government list of prohibited or restricted parties; and (iii) your access or use of this Website is not prohibited under the laws of any applicable jurisdiction.

Fundsmith reserves the right to limit access to the Website to any person, geographic region or jurisdiction. Unless otherwise expressly set forth herein, Fundsmith makes no representations that transactions, products or services discussed on the Website (“Services”) are available or appropriate for use in all jurisdictions or by all users, or that access by any user in the jurisdiction in which such user is located is not illegal or prohibited. Users who choose to access the Website from other locations outside the United States access it on their own initiative and are responsible for establishing the legality, usability and correctness of any information or materials on the Website under the laws of any applicable jurisdictions.

Website Contents and Changes to Information

While the information on this Website is based on information that Fundsmith believes to be accurate and complete at the date of its publication, Fundsmith cannot guarantee the adequacy, accuracy or completeness of such information. Subject to adhering to all applicable law, Fundsmith reserves the right at any time to modify, suspend, or discontinue the Website (or any portion thereof) with or without notice, and Fundsmith will not be liable to you or to any third party for any such modification, suspension, or discontinuance. The views expressed in this Website are Fundsmith’s opinions and such opinions are subject to change without notice.

Website Access and Availability

Access to this Website is permitted on a temporary basis.

Subject to adhering to all applicable law, Fundsmith reserves the right to withdraw or amend the service provided by the Website at any time. Fundsmith does not accept responsibility as to the operation, functionality or availability of this Website, or warrant that the use of the Website will be free from delay, interruption, interception or error.

Fundsmith’s Services are licensed, not sold, to you, and all rights granted to you under these Terms are subject to your compliance with the Terms. Without limiting our other rights or remedies under these Terms, you agree we have the right to limit and/or disable your access to the Website and our Services if you violate any provision of these Terms or your use of the Website would cause a risk of harm to others.

Prohibited Uses

You may use the Website and use our Services only for lawful purposes and in accordance with these Terms. You agree not to use the Website:

• In any way that violates any applicable federal, state, local, or international law or regulation (including, without limitation, any laws regarding the export of data or software to and from the US or other countries).
• For the purpose of exploiting, harming, or attempting to exploit or harm minors in any way by exposing them to inappropriate content, asking for personally identifiable information, or otherwise.
• To send, knowingly receive, upload, download, use, or re-use any material that does not comply with the provisions included in these Terms.
• To transmit, or procure the sending of, any advertising or promotional material without our prior written consent, including any “junk mail,” “chain letter,” “spam,” or any other similar solicitation.
• To impersonate or attempt to impersonate Fundsmith, a Fundsmith employee, another user, or any other person or entity (including, without limitation, by using email addresses or screen names associated with any of the foregoing).
• To engage in any other conduct that restricts or inhibits anyone’s use or enjoyment of the Website, or which, as determined by us, may harm Fundsmith or users of the Website, or expose them to liability.

Additionally, you agree not to:

• Use the Website in any manner that could disable, overburden, damage, or impair the Website or interfere with any other party’s use of the Website or Services.
• Use any robot, spider, or other automatic device, process, or means to access the Website for any purpose, including monitoring or copying any of the material on the Website.
• Use any manual process to monitor or copy any of the material on the Website, or for any other purpose not expressly authorized in these Terms, without our prior written consent.
• Introduce any viruses, Trojan horses, worms, logic bombs, or other material that is malicious or technologically harmful.
• Attempt to gain unauthorized access to, interfere with, damage, or disrupt any parts of the Website, the server on which the Website are stored, or any server, computer, or database connected to the Website.
• Attack the Website via a denial-of-service attack or a distributed denial-of-service attack.
• Otherwise attempt to interfere with the proper working of the Website.

You will not introduce viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful to or through this Website. You must not attempt to gain unauthorized access to this Website, the server on which the Website is stored or any server, computer or database connected to this Website. You must not attack this Website via a denial of service attack or a distributed denial of service attack. Fundsmith may report any breach of this provision to the relevant authorities and may cooperate with them in any investigation, including by disclosing your identity.

NO OFFER OR ADVICE

You acknowledge that the content of this Website is for general, informational purposes only and has been prepared without regard to any particular user’s investment objectives, financial situation, or means. This material is not to be construed as a recommendation that you enter a particular transaction nor a representation that any products or services is suitable or appropriate for you. The information contained on this Website is not intended to constitute an offer to buy or sell any securities or promise to undertake or solicit business. Decisions based on information contained on this website are your sole responsibility.

BEFORE ACQUIRING THE SHARES OF THE FUND BY PURCHASE OR EXCHANGE, IT IS YOUR RESPONSIBILITY TO READ THE FUND’S PROSPECTUS.

There may be delays, omissions or inaccuracies in information obtained through your use of this Website. The information on the Website is provided to you with the understanding that Fundsmith’s provision of this information to you does not constitute the rendering of investment, consulting, legal, accounting, tax, or other advice or services. Information on this Website should not be relied upon for making business, investment or other decisions or used as a substitute for consultation with professional advisors.

NO WARRANTIES

Reasonable precautions have been taken to ensure that the website content, including account information and pricing data, are complete and accurate. However, due to the nature of information delivery technology and the necessity of using multiple data sources, including third-party content, we are unable to assure the accuracy of the data you access through this website. Website content is presented only as of the date published or indicated and may be superseded by subsequent market events or other reasons. Fundsmith does not warrant that the Website is accurate, complete, reliable or error-free. You understand that we cannot and do not guarantee or warrant that files available for downloading from the internet or the Website will be free of viruses or other destructive code. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining a means external to our site for any reconstruction of any lost data. To the fullest extent provided by law, we will not be liable for any loss or damage caused by a distributed denial-of-service attack, viruses, or other technologically harmful material that may infect your computer equipment, computer programs, data, or other proprietary material due to your use of the Website or items obtained through the Website or to your downloading of any material posted on it, or on any site linked to them.

Your use of the Website is at your own risk. The Website or items obtained through the Website is provided on an “as is” and “as available” basis, without any warranties of any kind, either express or implied. Neither Fundsmith nor any person associated with Fundsmith makes any warranty or representation with respect to the completeness, security, reliability, quality, accuracy, or availability of the Website. Without limiting the foregoing, neither Fundsmith nor anyone associated with Fundsmith represents or warrants that Fundsmith or items obtained through the Website will be accurate, reliable, error-free, or uninterrupted, that defects will be corrected, that our Website or the server that makes them available are free of viruses or other harmful components, or that the Website will otherwise meet your needs or expectations.

To the fullest extent provided by law, Fundsmith hereby disclaims all warranties of any kind, whether express or implied, statutory, or otherwise, including but not limited to any warranties of merchantability, non-infringement, and fitness for particular purpose. The foregoing does not affect any warranties that cannot be excluded or limited under applicable law. Any oral or written advice provided by Fundsmith or its agents does not and will not create any warranty or guarantee.

MATERIAL INTERESTS

Certain employees and officers of Fundsmith may invest in pooled investment vehicles managed by Fundsmith from time to time.

DATA PROTECTION AND PRIVACY

Fundsmith is committed to protecting the confidentiality and security of visitors to this Website. Please refer to the detailed information in the relevant ‘privacy policy’ link at the bottom of each page on this site. However, the Internet is not a secure medium and while Fundsmith takes reasonable precautions to protect any personal information transmitted through this Website, it does not guarantee or warrant the security of such personal information. Fundsmith does not accept any responsibility for unauthorized access by a third party or the corruption of data sent to it.

Fundsmith will take reasonable precautions to ensure the security of this Website. However, Fundsmith cannot assure you that your information will never be disclosed in a manner inconsistent with these Terms, and will not be liable for any loss or damage caused by a distributed denial of service attack, viruses or other technologically harmful material that may infect your computer equipment, computer programs, data or other material due to your use of this Website or to your downloading material posted on it.

INTELLECTUAL PROPERTY RIGHTS

Fundsmith is the owner or the licensee of all intellectual property rights contained within this Website and in the material published on it. These works are protected by copyright, trademark and other laws. All such rights are reserved.

You may download or print out a hard copy of pages from this Website or the material made available on it for your personal reference. However, you must not reproduce, modify, copy, alter in any way, distribute, sell, resell, transmit, transfer, license, assign or publish any of the material on this Website without Fundsmith’s prior written consent. You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way.

You must not use this Website at any time for any purpose that is unlawful or prohibited and must comply with any applicable local, state, national or international laws or regulations when using this Website.

Fundsmith is the registered trademark of Fundsmith LLP. All logos and marks included on the Website that identify

Fundsmith services and products are proprietary materials. The use of such terms and logos and marks without the express prior written consent of Fundsmith is strictly prohibited. Copyright in the pages and in the screens of the Website, and in the information and material therein, is proprietary material owned by Fundsmith, unless otherwise indicated.

The unauthorized use of any material on the Website may violate numerous statutes, regulations and laws, including, but not limited to, copyright, trademark, trade secret or patent laws.

LINKING TO THIS SITE

You may link to this Website, provided that you do so in a way which is fair, legal and does not damage Fundsmith’s reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval or endorsement on Fundsmith’s part where none exists. You must not establish a link from a website that is not owned by you. This Website must not be framed on any other Website nor may you create a link to any part of this Website other than the Home Page.

LINKS FROM THIS SITE

Where this Website contains links to other sites and resources provided by third parties, these links are provided for your information only. Fundsmith has no control over the contents of these sites or resources, does not monitor any websites linked from or to the Website, and accepts no responsibility for them or for any loss or damage that may arise to you from your use of them. Any links from or to other websites are provided merely for the convenience of the users of the Website and the inclusion of these links does not imply an endorsement, representation, or warranty by Fundsmith with respect to any such linked websites or the content, products or services contained or accessible through such websites or their operators. Fundsmith disclaims responsibility for the privacy policies and customer information practices of third-party internet websites hyperlinked from the Website. Following links from or to such websites is at your sole risk.

TERMINATION

Fundsmith has the right to terminate your access to this Website at any time on giving notice to you and in any event if you commit any breach of these Terms, subject to adhering to all applicable law. Fundsmith will have no liability to you for such termination. In the event that your access to this Website is terminated, the remaining provisions of these Terms will continue to apply.

LIMITATION OF LIABILITY

To the extent permitted by applicable law, neither Fundsmith, any of its members, officers or employees, nor any third party vendor, will be liable or have any responsibility of any kind for any direct, indirect, incidental, reliance, special, consequential, or exemplary loss or damage that you incur in the event of any failure or interruption of this Website, or resulting from the act or omission of any other party involved in making this Website or the data contained in it available to you, or from any other cause relating to your access to, inability to access, or use of the Website or the materials contained on this Website whether or not the circumstances giving rise to such cause may have been within Fundsmith’s control or of any vendor providing software or services support. You agree that the limitations of liability set forth above will survive any termination or expiration of these Terms and will apply even if any limited remedy specified herein is found to have failed of its essential purpose.

You acknowledge and agree that the above limitations of liability, together with the other provisions in these Terms that limit liability, are essential terms and that Fundsmith would not be willing to grant you the rights set forth in these Terms but for your agreement to the above limitation of liability.

INDEMNITY

You will indemnify Fundsmith from and against all actions, claims, proceedings, costs and damages (including any damages or compensation paid by us on the advice of our legal advisors to compromise or settle any claim) and all legal costs or expenses arising out of your use of the Website and any breach by you of any terms and conditions contained in these Terms.

GOVERNING LAW & OTHER LEGAL PROVISIONS

These Terms shall be governed by and construed in accordance with the laws of England and Wales without regard to conflicts of law principles. The courts of England and Wales will have the exclusive jurisdiction over any claim arising from or related to this Website. No failure of either party to enforce any of its rights under these Terms will act as a waiver of such rights. If any portion of any provision of these Terms is found invalid or unenforceable, that provision shall be enforced to the maximum extent possible and the remaining provisions of these Terms shall remain in full force and effect.

GENERAL TERMS

Fundsmith’s failure to exercise or enforce any right or provision of these Terms will not constitute a waiver of such right or provision. Waivers are effective only if in writing and signed by Fundsmith and you. These Terms may not be amended unless in writing. If any provision of these Terms is or becomes unenforceable or invalid, the remaining provisions will continue with the same effect as if such unenforceable or invalid provision had not been used. Nothing contained in these Terms will be deemed to constitute Fundsmith or you as the agent or representative of the other or as joint venturers or partners. These Terms inures to the benefit of and will be binding upon Fundsmith’s and your permitted successors and assigns. You must not transfer any of your rights or obligations under these Terms to anyone else without our prior written consent. All of our rights and obligations under these Terms are assignable. Headings and captions are for convenience only.

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