The Fund seeks to maximise total return by investing primarily in equity securities of mining and metals companies globally whose predominant economic activity is the production of base metals and industrial minerals such as iron ore and coal, and mining of gold/other precious metal/mineral. The Fund does not hold physical gold or metal.

BlackRock (Luxembourg) SA

BlackRock Investment Management (UK) Ltd.

Other Equity

Equity

MSCI ACWI Me&Mi 30% Bf 10/40 NR USD

BGF World Mining D2 SGD Hedged

BGF World Mining A2

Canada

Australia

Switzerland

United States

Brazil

United Kingdom

Unclassified

Basic Materials

Energy

BHP Group Ltd

Glencore PLC

Vale SA ADR

Rio Tinto PLC Registered Shares

Freeport-McMoRan Inc

Wheaton Precious Metals Corp

Teck Resources Ltd Class B (Sub Voting)

Barrick Gold Corp

Nucor Corp

Cameco Corp