SEI Investments Distribution Co. (1 Freedom Valley Drive, Oaks, PA, 19456) is the distributor for the Global X Funds.

Check the background of SIDCO and Global X's Registered Representatives on FINRA's BrokerCheck.

BUG seeks to invest in companies that stand to benefit from the increased adoption of cybersecurity technology, including those developing and managing security protocols that prevent intrusion and attacks across systems, networks, applications, computers, and mobile devices.

DTCR seeks to invest in companies that own, operate, or develop data centers and cellular towers, as well as those that manufacture the servers and hardware powering these facilities, offering targeted exposure to the digital infrastructure underpinning the AI economy.

PAVE seeks to invest in companies that stand to benefit from a potential increase in infrastructure activity in the United States, including those involved in the production of raw materials, heavy equipment, engineering, and construction.

SHLD is positioned to complement, or even replace, conventional aerospace and defense allocations by providing targeted exposure to defense technology companies alongside established defense-industrial primes. This concentrated approach fills a structural gap in broad equity portfolios, where companies focused on emerging defense technologies remain underrepresented relative to legacy contractors.

As cybersecurity, advanced systems, autonomy, and AI increasingly reshape the defense sector, SHLD offers a differentiated way to access the companies driving the next generation of military capabilities.

Global defense spend could rise another 6% year-over-year to over $3 trillion in 2026 — extending a decade-long stretch of growth. Spending is projected to grow at a 6% annualized rate, reaching $4.4 trillion by 2030.¹

Future-proofing advanced military systems is a top priority for governments, requiring specialized software and hardware—including sensors, AI chips, and high-performance processing and networking solutions.

Defense tech spans sectors such as industrials, cybersecurity, AI, and drone systems. Unlike civilian markets, defense revenues are driven by strategic military priorities rather than economic cycles.

¹Global X ETFs forecast, with information derived from: Stockholm International Peace Research Institute (SIPRI), Apr 2026.

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The financial statements include the Fund's disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.

The financial statements include the Fund's disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.

The Defense Tech theme enters 2026 on solid footing as rising military spending flows through to company fundamentals.

Defense tech is entering a new phase of growth, driven by rising military budgets and accelerating modernization efforts of advanced and emerging economies.

The Premium/Discount chart demonstrates the difference between the daily market price of shares of the Fund and the Fund's net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

Source: AltaVista Research, LLC