GLDM shares trade like stocks, are subject to investment risked will fluctuate in market value. The value of GLDM shares relates directly to the value of the gold held by GLDM (less its expenses), and fludOroort? in the price of gold could materially and adversely affect an investment in the shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them. GLDM does not generate any income, and as GLDM regularly sells gold to pay for its ongoing expenses, the amount of gold represented by each Share will decline over time to that extent. The World Gold Council name and logo are a registered trademark and used with the permission of the World Gold Council pursuant to a license agreement. The World Gold Council is not resporAle for the content of, and is not liable for the use of or reliance on, this material. World Gold Council is an affiliate of GLDM’s sponsor. W MiniSharesSM and GLDMSM are service marks of WGC USA Asset Management Company, LLC used with the permission of WGC USA Asset Management Company, LLC. Standard & Poor’s®, SAP* and SPDR’ are registered tjfeemarks of Standard & Poor’s Financial Services LLC, a division of S&P Global (“S&P”); Dow Jones is a registered trademark of Dow Jones Tradaphark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (“SPDJT^ndsublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsecLjbld or promotetfb^SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties makes any repre^rouonregarding the advisability of investing in such product(s) nor do they have any liability in relation thereto. For more infojytton, please contact the Marketing Agent for GLDM: X State Street Global Advisors Funds Distributors, LLC, One IronStreet, Boston, MA, 02210; T: +1866 320 4053 spdrgoldshares.com © 2021 State Street Corporation. All Rights Reserved. state Street Global Advisors Funds Distributors, LLC, JnalFdn Street, Boston, MA 02210 Not FDIC Insured • No Bank Guarantee • May Lose Value 3370896.1.1.AM.