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Statement From BlackRock

BlackRock statement in response to its investment in China Shenhua Energy.

BlackRock is deeply concerned with this matter and continuously engages with companies on environmental and social issues - including the protection of Indigenous heritage sites across miners’ operations. We have voiced our concerns to the company directly as part of our investment stewardship efforts.

We have already removed companies that generate more than 25% of their revenues from thermal coal production, including China Shenhua, from all of our active discretionary portfolios in line with our sustainability commitments earlier this year. The remaining exposure is through passive index holdings where we do not have the discretion to divest from a certain company as long as it is included in the relevant index strategy.