17 March 2020.

Further to the market commentary posted last week, we wish to update you on how we are continuing to operate efficiently and effectively amidst coronavirus (COVID-19) concerns.

We are pleased to advise that should the impact of COVID-19 escalate further, we have business continuity frameworks in place to ensure that we can continue with business as usual.

All business-critical functions will operate as normal, including but not limited to:

· The service to our clients, enabled through remote working solutions should members of our team be required temporarily to work from home or another location

· Ensuring the security of client assets and personal information

· Communicating with clients so that they can continue to manage their investments effectively

We take the matter of public health seriously and our goal is to minimise any potential impacts on our team, clients and business partners. We are utilising federal and state government sources for advice and qualified information.

It's important to note that we do not anticipate any changes to our business operations. Clients will continue to have access to our client portal and are welcome people to call our client services team who will direct to the best person to respond to queries.

We trust that you will stay safe in this highly unusual environment.

Mathew Browning, CEO, U Ethical

Market Commentary Disclosure

The market commentary reflects U Ethical’s position at the time of publication and is subject to change. U Ethical reserves the right to make any adjustments to the investment strategy or outlook for all products at any time to reflect major disruptions or changes in the financial markets, as allowed by the relevant governing documents, Product Disclosure Statement, Information Memorandum, or Offer Documents.

The information provided is general information only. It does not constitute financial, tax or legal advice or an offer or solicitation to subscribe for units / debentures in any U Ethical Fund of which U Ethical is the Manager, Administrator, Issuer, Trustee or Responsible Entity. This information has been prepared without taking account of your personal objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, you should consider the appropriateness of the information based on your own objectives, financial situation or needs or consult a professional adviser. You should also consider the relevant Product Disclosure Statement (PDS) or Offer Document which can be found on our website www.uethical.com or by calling us on 1800 996 888.