Common use of Acquiring Funds Clause in Contracts

Acquiring Funds. Horizon Active Asset Allocation Fund Horizon Active Risk Assist® Fund Horizon Active Income Fund Horizon Active Dividend Fund Horizon Defined Risk Fund Horizon U.S. Defensive Equity Fund SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies Fund Name Ticker Trust SPDR Dow Xxxxx International Real Estate ETF RWX SPDR Index Shares Funds SPDR Dow Xxxxx Global Real Estate ETF RWO SPDR Index Shares Funds SPDR EURO STOXX 50 ETF FEZ SPDR Index Shares Funds SPDR MSCI ACWI ex-US ETF CWI SPDR Index Shares Funds SPDR Portfolio MSCI Global Stock Market ETF SPGM SPDR Index Shares Funds SPDR MSCI ACWI Low Carbon Target ETF LOWC SPDR Index Shares Funds SPDR MSCI EAFE Fossil Fuel Reserves Free ETF EFAX SPDR Index Shares Funds SPDR MSCI EAFE StrategicFactors ETF QEFA SPDR Index Shares Funds SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF EEMX SPDR Index Shares Funds SPDR MSCI Emerging Markets StrategicFactors ETF QEMM SPDR Index Shares Funds SPDR MSCI World StrategicFactors ETF QWLD SPDR Index Shares Funds SPDR S&P Emerging Asia Pacific ETF GMF SPDR Index Shares Funds SPDR S&P North American Natural Resources ETF NANR SPDR Index Shares Funds SPDR S&P China ETF GXC SPDR Index Shares Funds SPDR Portfolio Developed World ex-US ETF SPDW SPDR Index Shares Funds SPDR S&P International Small Cap ETF GWX SPDR Index Shares Funds SPDR Portfolio Emerging Markets ETF SPEM SPDR Index Shares Funds SPDR S&P Emerging Markets Dividend ETF EDIV SPDR Index Shares Funds SPDR S&P Emerging Markets Small Cap ETF EWX SPDR Index Shares Funds SPDR S&P Global Dividend ETF WDIV SPDR Index Shares Funds SPDR S&P Global Infrastructure ETF GII SPDR Index Shares Funds SPDR S&P Global Natural Resources ETF GNR SPDR Index Shares Funds SPDR S&P International Dividend ETF DWX SPDR Index Shares Funds SPDR Portfolio Europe ETF SPEU SPDR Index Shares Funds SPDR Bloomberg Barclays 1-10 Year TIPS ETF TIPX SPDR Series Trust SPDR Bloomberg Barclays 1-3 Month T-Xxxx ETF BIL SPDR Series Trust SPDR Bloomberg Barclays Short Term International Treasury Bond ETF BWZ SPDR Series Trust SPDR Portfolio Short Term Treasury ETF SPTS SPDR Series Trust SPDR Portfolio Intermediate Term Treasury ETF SPTI SPDR Series Trust SPDR Bloomberg Barclays 3-12 Month T-Xxxx ETF XXXX SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets USD Bond ETF EMHC SPDR Series Trust SPDR Bloomberg Barclays International Corporate Bond ETF IBND SPDR Series Trust SPDR Bloomberg Barclays International Treasury Bond ETF BWX SPDR Series Trust SPDR Bloomberg Barclays High Yield Bond ETF JNK SPDR Series Trust SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB SPDR Series Trust SPDR Portfolio Long Term Corporate Bond ETF SPLB SPDR Series Trust SPDR Portfolio Long Term Treasury ETF SPTL SPDR Series Trust SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF SHM SPDR Series Trust SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI SPDR Series Trust SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF HYMB SPDR Series Trust SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies

Acquiring Funds. Horizon Active Asset Allocation FT Series All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Risk Assist® All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Income II All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Dividend III All Existing and Future Series First Trust Exchange-Traded Fund Horizon Defined Risk IV All Existing and Future Series First Trust Exchange-Traded Fund Horizon U.S. Defensive Equity V All Existing and Future Series First Trust Exchange-Traded Fund VI All Existing and Future Series First Trust Exchange-Traded Fund VII All Existing and Future Series First Trust Exchange-Traded Fund VIII All Existing and Future Series First Trust Series Fund All Existing and Future Series First Trust Variable Insurance Trust All Existing and Future Series SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies Fund Name Ticker Trust SPDR Dow Xxxxx Jxxxx International Real Estate ETF RWX SPDR Index Shares Funds SPDR Dow Xxxxx Jxxxx Global Real Estate ETF RWO SPDR Index Shares Funds SPDR EURO STOXX 50 ETF FEZ SPDR Index Shares Funds SPDR MSCI ACWI ex-US ETF CWI SPDR Index Shares Funds SPDR Portfolio MSCI Global Stock Market ETF SPGM SPDR Index Shares Funds SPDR MSCI ACWI Low Carbon Target ETF LOWC SPDR Index Shares Funds SPDR MSCI EAFE Fossil Fuel Reserves Free ETF EFAX SPDR Index Shares Funds SPDR MSCI EAFE StrategicFactors ETF QEFA SPDR Index Shares Funds SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF EEMX SPDR Index Shares Funds SPDR MSCI Emerging Markets StrategicFactors ETF QEMM SPDR Index Shares Funds SPDR MSCI World StrategicFactors ETF QWLD SPDR Index Shares Funds SPDR S&P Emerging Asia Pacific ETF GMF SPDR Index Shares Funds SPDR S&P North American Natural Resources ETF NANR SPDR Index Shares Funds SPDR S&P China ETF GXC SPDR Index Shares Funds SPDR Portfolio Developed World ex-US ETF SPDW SPDR Index Shares Funds SPDR S&P International Small Cap ETF GWX SPDR Index Shares Funds SPDR Portfolio Emerging Markets ETF SPEM SPDR Index Shares Funds SPDR S&P Emerging Markets Dividend ETF EDIV SPDR Index Shares Funds SPDR S&P Emerging Markets Small Cap ETF EWX SPDR Index Shares Funds SPDR S&P Global Dividend ETF WDIV SPDR Index Shares Funds SPDR S&P Global Infrastructure ETF GII SPDR Index Shares Funds SPDR S&P Global Natural Resources ETF GNR SPDR Index Shares Funds SPDR S&P International Dividend ETF DWX SPDR Index Shares Funds SPDR Portfolio Europe ETF SPEU SPDR Index Shares Funds SPDR Bloomberg Barclays 1-10 Year TIPS ETF TIPX SPDR Series Trust SPDR Bloomberg Barclays 1-3 Month T-Xxxx Bill ETF BIL SPDR Series Trust SPDR Bloomberg Barclays Short Term International Treasury Bond ETF BWZ SPDR Series Trust SPDR Portfolio Short Term Treasury ETF SPTS SPDR Series Trust SPDR Portfolio Intermediate Term Treasury ETF SPTI SPDR Series Trust SPDR Bloomberg Barclays 3-12 Month T-Xxxx Bill ETF XXXX BILS SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets USD Bond ETF EMHC SPDR Series Trust SPDR Bloomberg Barclays International Corporate Bond ETF IBND SPDR Series Trust SPDR Bloomberg Barclays International Treasury Bond ETF BWX SPDR Series Trust SPDR Bloomberg Barclays High Yield Bond ETF JNK SPDR Series Trust SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB SPDR Series Trust SPDR Portfolio Long Term Corporate Bond ETF SPLB SPDR Series Trust SPDR Portfolio Long Term Treasury ETF SPTL SPDR Series Trust SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF SHM SPDR Series Trust SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI SPDR Series Trust SPDR Nuveen Bloomberg Nxxxxx Xxxxxxxxx Barclays High Yield Municipal Bond ETF HYMB SPDR Series Trust SCHEDULE B SPDR Portfolio Short Term Corporate Bond ETF SPSB SPDR Series Trust SPDR Portfolio Aggregate Bond ETF SPAB SPDR Series Trust SPDR Bloomberg Barclays Convertible Securities ETF CWB SPDR Series Trust SPDR Bloomberg Barclays Investment Grade Floating Rate ETF FLRN SPDR Series Trust SPDR Portfolio TIPS ETF SPIP SPDR Series Trust SPDR Portfolio Mortgage Backed Bond ETF SPMB SPDR Series Trust SPDR Portfolio Corporate Bond ETF SPBO SPDR Series Trust SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK SPDR Series Trust SPDR Bloomberg SASB Corporate Bond ESG Select ETF RBND SPDR Series Trust SPDR Dxx Xxxxx REIT ETF RWR SPDR Series Trust SPDR FactSet Innovative Technology ETF XITK SPDR Series Trust SPDR FTSE International Government Inflation-Protected Bond ETF WIP SPDR Series Trust SPDR Global Dow ETF DGT SPDR Series Trust SPDR Portfolio High Yield Bond ETF SPHY SPDR Series Trust SPDR ICE Preferred Securities ETF PSK SPDR Series Trust SPDR MSCI USA StrategicFactors ETF QUS SPDR Series Trust SPDR NYSE Technology ETF XNTK SPDR Series Trust SPDR Rxxxxxx 1000 Low Volatility Focus ETF ONEV SPDR Series Trust SPDR Rxxxxxx 1000 Momentum Focus ETF ONEO SPDR Series Trust SPDR Rxxxxxx 1000 Yield Focus ETF OXXX SPDR Series Trust SPDR S&P 1500 Value Tilt ETF VLU SPDR Series Trust SPDR S&P 1500 Momentum Tilt ETF MXXX SPDR Series Trust SPDR S&P 500 ESG ETF EFIV SPDR Series Trust SPDR S&P 500 Fossil Fuel Reserves Free ETF SPYX SPDR Series Trust SPDR Portfolio S&P 500 Growth ETF SPYG SPDR Series Trust SPDR Portfolio S&P 500 High Dividend ETF SPYD SPDR Series Trust SPDR Portfolio S&P 500 ETF SPLG SPDR Series Trust SPDR Portfolio S&P 500 Value ETF SPYV SPDR Series Trust SPDR S&P Aerospace & Defense ETF XAR SPDR Series Trust SPDR S&P Bank ETF KBE SPDR Series Trust SPDR S&P Biotech ETF XBI SPDR Series Trust SPDR S&P Capital Markets ETF KCE SPDR Series Trust SPDR Portfolio S&P 1500 Composite Stock Market ETF SPTM SPDR Series Trust SPDR S&P Health Care Equipment ETF XHE SPDR Series Trust SPDR S&P Health Care Services ETF XHS SPDR Series Trust SPDR S&P Dividend ETF SDY SPDR Series Trust SPDR S&P Homebuilders ETF XHB SPDR Series Trust SPDR S&P Insurance ETF KIE SPDR Series Trust SPDR S&P Internet ETF XWEB SPDR Series Trust SPDR S&P Kensho Clean Power ETF CNRG SPDR Series Trust SPDR S&P Kensho Final Frontiers ETF ROKT SPDR Series Trust SPDR S&P Kensho Future Security ETF FXXX SPDR Series Trust SPDR S&P Kensho Intelligent Structures ETF SXXX SPDR Series Trust SPDR S&P Kensho New Economies Composite ETF KOMP SPDR Series Trust SPDR S&P Kensho Smart Mobility ETF HAIL SPDR Series Trust SPDR S&P Metals & Mining ETF XME SPDR Series Trust SPDR S&P 400 Mid Cap Growth ETF MDYG SPDR Series Trust SPDR S&P 400 Mid Cap Value ETF MDYV SPDR Series Trust SPDR Portfolio S&P 400 Mid Cap ETF SPMD SPDR Series Trust SPDR S&P Oil & Gas Equipment & Services ETF XES SPDR Series Trust SPDR S&P Oil & Gas Exploration & Production ETF XOP SPDR Series Trust SPDR S&P Pharmaceuticals ETF XPH SPDR Series Trust SPDR S&P Regional Banking ETF KRE SPDR Series Trust SPDR S&P Retail ETF XRT SPDR Series Trust SPDR S&P Semiconductor ETF XSD SPDR Series Trust SPDR S&P 600 Small Cap ETF SLY SPDR Series Trust SPDR S&P 600 Small Cap Growth ETF SLYG SPDR Series Trust SPDR Portfolio S&P 600 Small Cap ETF SPSM SPDR Series Trust SPDR S&P 600 Small Cap Value ETF SLYV SPDR Series Trust SPDR S&P Software & Services ETF XSW SPDR Series Trust SPDR S&P Telecom ETF XTL SPDR Series Trust SPDR S&P Transportation ETF XTN SPDR Series Trust SPDR SSGA Gender Diversity Index ETF SHE SPDR Series Trust SPDR SSGA US Large Cap Low Volatility Index ETF LGLV SPDR Series Trust SPDR SSGA US Small Cap Low Volatility Index ETF SMLV SPDR Series Trust SPDR Nuveen Municipal Bond ETF MBND SSGA Active Trust SPDR DoubleLine Total Return Tactical ETF TOTL SSGA Active Trust SPDR SSGA Ultra Short Term Bond ETF ULST SSGA Active Trust SPDR DoubleLine Emerging Markets Fixed Income ETF EMTL SSGA Active Trust SPDR Blackstone Senior Loan ETF SRLN SSGA Active Trust Information Classification: Limited Access FUND OF FUNDS INVESTMENT AGREEMENT This Fund of Funds Investment Agreement (this “Agreement”), dated as of 10January 19, 2022 (the “Effective Date”), is made among FT Series, First Trust Exchange-1Traded Fund, First Trust Exchange-21) List Traded Fund II, First Trust Exchange-Traded Fund III, First Trust Exchange- Traded Fund IV, First Trust Exchange-Traded Fund V, First Trust Exchange-Traded Fund VI, First Trust Exchange-Traded Fund VII, First Trust Exchange-Traded Fund VIII, First Trust Series Fund, and First Trust Variable Insurance Trust, on behalf of each of their existing and future series that invests in an Acquired Funds to Which Fund in reliance on the Agreement AppliesRule as such terms are defined below and as listed on Schedule A, severally and not jointly (each, the “Acquiring Fund”), and The Select Sector SPDR Trust, on behalf of each of its series listed on Schedule B, severally and not jointly (each, the “Acquired Fund” and together with the Acquiring Funds, the “Funds”).

Acquiring Funds. Horizon Active Asset Allocation FT Series All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Risk Assist® All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Income II All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Dividend III All Existing and Future Series First Trust Exchange-Traded Fund Horizon Defined Risk IV All Existing and Future Series First Trust Exchange-Traded Fund Horizon U.S. Defensive Equity V All Existing and Future Series First Trust Exchange-Traded Fund VI All Existing and Future Series First Trust Exchange-Traded Fund VII All Existing and Future Series First Trust Exchange-Traded Fund VIII All Existing and Future Series First Trust Series Fund All Existing and Future Series First Trust Variable Insurance Trust All Existing and Future Series SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies Fund Name Ticker Trust SPDR Dow Xxxxx Jxxxx International Real Estate ETF RWX SPDR Index Shares Funds SPDR Dow Xxxxx Jxxxx Global Real Estate ETF RWO SPDR Index Shares Funds SPDR EURO STOXX 50 ETF FEZ SPDR Index Shares Funds SPDR MSCI ACWI ex-US ETF CWI SPDR Index Shares Funds SPDR Portfolio MSCI Global Stock Market ETF SPGM SPDR Index Shares Funds SPDR MSCI ACWI Low Carbon Target ETF LOWC SPDR Index Shares Funds SPDR MSCI EAFE Fossil Fuel Reserves Free ETF EFAX SPDR Index Shares Funds SPDR MSCI EAFE StrategicFactors ETF QEFA SPDR Index Shares Funds SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF EEMX SPDR Index Shares Funds SPDR MSCI Emerging Markets StrategicFactors ETF QEMM SPDR Index Shares Funds SPDR MSCI World StrategicFactors ETF QWLD SPDR Index Shares Funds SPDR S&P Emerging Asia Pacific ETF GMF SPDR Index Shares Funds SPDR S&P North American Natural Resources ETF NANR SPDR Index Shares Funds SPDR S&P China ETF GXC SPDR Index Shares Funds SPDR Portfolio Developed World ex-US ETF SPDW SPDR Index Shares Funds SPDR S&P International Small Cap ETF GWX SPDR Index Shares Funds SPDR Portfolio Emerging Markets ETF SPEM SPDR Index Shares Funds SPDR S&P Emerging Markets Dividend ETF EDIV SPDR Index Shares Funds SPDR S&P Emerging Markets Small Cap ETF EWX SPDR Index Shares Funds SPDR S&P Global Dividend ETF WDIV SPDR Index Shares Funds SPDR S&P Global Infrastructure ETF GII SPDR Index Shares Funds SPDR S&P Global Natural Resources ETF GNR SPDR Index Shares Funds SPDR S&P International Dividend ETF DWX SPDR Index Shares Funds SPDR Portfolio Europe ETF SPEU SPDR Index Shares Funds SPDR Bloomberg Barclays 1-10 Year TIPS ETF TIPX SPDR Series Trust SPDR Bloomberg Barclays 1-3 Month T-Xxxx Bxxx ETF BIL SPDR Series Trust SPDR Bloomberg Barclays Short Term International Treasury Bond ETF BWZ SPDR Series Trust SPDR Portfolio Short Term Treasury ETF SPTS SPDR Series Trust SPDR Portfolio Intermediate Term Treasury ETF SPTI SPDR Series Trust SPDR Bloomberg Barclays 3-12 Month T-Xxxx Bxxx ETF XXXX BILS SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets USD Bond ETF EMHC SPDR Series Trust SPDR Bloomberg Barclays International Corporate Bond ETF IBND SPDR Series Trust SPDR Bloomberg Barclays International Treasury Bond ETF BWX SPDR Series Trust SPDR Bloomberg Barclays High Yield Bond ETF JNK SPDR Series Trust SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB SPDR Series Trust SPDR Portfolio Long Term Corporate Bond ETF SPLB SPDR Series Trust SPDR Portfolio Long Term Treasury ETF SPTL SPDR Series Trust SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF SHM SPDR Series Trust SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI SPDR Series Trust SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF HYMB SPDR Series Trust SCHEDULE B SPDR Portfolio Short Term Corporate Bond ETF SPSB SPDR Series Trust SPDR Portfolio Aggregate Bond ETF SPAB SPDR Series Trust SPDR Bloomberg Barclays Convertible Securities ETF CWB SPDR Series Trust SPDR Bloomberg Barclays Investment Grade Floating Rate ETF FLRN SPDR Series Trust SPDR Portfolio TIPS ETF SPIP SPDR Series Trust SPDR Portfolio Mortgage Backed Bond ETF SPMB SPDR Series Trust SPDR Portfolio Corporate Bond ETF SPBO SPDR Series Trust SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK SPDR Series Trust SPDR Bloomberg SASB Corporate Bond ESG Select ETF RBND SPDR Series Trust SPDR Dow Jxxxx REIT ETF RWR SPDR Series Trust SPDR FactSet Innovative Technology ETF XITK SPDR Series Trust SPDR FTSE International Government Inflation-Protected Bond ETF WIP SPDR Series Trust SPDR Global Dow ETF DGT SPDR Series Trust SPDR Portfolio High Yield Bond ETF SPHY SPDR Series Trust SPDR ICE Preferred Securities ETF PSK SPDR Series Trust SPDR MSCI USA StrategicFactors ETF QUS SPDR Series Trust SPDR NYSE Technology ETF XNTK SPDR Series Trust SPDR Rxxxxxx 1000 Low Volatility Focus ETF ONEV SPDR Series Trust SPDR Rxxxxxx 1000 Momentum Focus ETF ONEO SPDR Series Trust SPDR Rxxxxxx 1000 Yield Focus ETF OXXX SPDR Series Trust SPDR S&P 1500 Value Tilt ETF VLU SPDR Series Trust SPDR S&P 1500 Momentum Tilt ETF MXXX SPDR Series Trust SPDR S&P 500 ESG ETF EFIV SPDR Series Trust SPDR S&P 500 Fossil Fuel Reserves Free ETF SPYX SPDR Series Trust SPDR Portfolio S&P 500 Growth ETF SPYG SPDR Series Trust SPDR Portfolio S&P 500 High Dividend ETF SPYD SPDR Series Trust SPDR Portfolio S&P 500 ETF SPLG SPDR Series Trust SPDR Portfolio S&P 500 Value ETF SPYV SPDR Series Trust SPDR S&P Aerospace & Defense ETF XAR SPDR Series Trust SPDR S&P Bank ETF KBE SPDR Series Trust SPDR S&P Biotech ETF XBI SPDR Series Trust SPDR S&P Capital Markets ETF KCE SPDR Series Trust SPDR Portfolio S&P 1500 Composite Stock Market ETF SPTM SPDR Series Trust SPDR S&P Health Care Equipment ETF XHE SPDR Series Trust SPDR S&P Health Care Services ETF XHS SPDR Series Trust SPDR S&P Dividend ETF SDY SPDR Series Trust SPDR S&P Homebuilders ETF XHB SPDR Series Trust SPDR S&P Insurance ETF KIE SPDR Series Trust SPDR S&P Internet ETF XWEB SPDR Series Trust SPDR S&P Kensho Clean Power ETF CNRG SPDR Series Trust SPDR S&P Kensho Final Frontiers ETF ROKT SPDR Series Trust SPDR S&P Kensho Future Security ETF FXXX SPDR Series Trust SPDR S&P Kensho Intelligent Structures ETF SXXX SPDR Series Trust SPDR S&P Kensho New Economies Composite ETF KOMP SPDR Series Trust SPDR S&P Kensho Smart Mobility ETF HAIL SPDR Series Trust SPDR S&P Metals & Mining ETF XME SPDR Series Trust SPDR S&P 400 Mid Cap Growth ETF MDYG SPDR Series Trust SPDR S&P 400 Mid Cap Value ETF MDYV SPDR Series Trust SPDR Portfolio S&P 400 Mid Cap ETF SPMD SPDR Series Trust SPDR S&P Oil & Gas Equipment & Services ETF XES SPDR Series Trust SPDR S&P Oil & Gas Exploration & Production ETF XOP SPDR Series Trust SPDR S&P Pharmaceuticals ETF XPH SPDR Series Trust SPDR S&P Regional Banking ETF KRE SPDR Series Trust SPDR S&P Retail ETF XRT SPDR Series Trust SPDR S&P Semiconductor ETF XSD SPDR Series Trust SPDR S&P 600 Small Cap ETF SLY SPDR Series Trust SPDR S&P 600 Small Cap Growth ETF SLYG SPDR Series Trust SPDR Portfolio S&P 600 Small Cap ETF SPSM SPDR Series Trust SPDR S&P 600 Small Cap Value ETF SLYV SPDR Series Trust SPDR S&P Software & Services ETF XSW SPDR Series Trust SPDR S&P Telecom ETF XTL SPDR Series Trust SPDR S&P Transportation ETF XTN SPDR Series Trust SPDR SSGA Gender Diversity Index ETF SHE SPDR Series Trust SPDR SSGA US Large Cap Low Volatility Index ETF LGLV SPDR Series Trust SPDR SSGA US Small Cap Low Volatility Index ETF SMLV SPDR Series Trust SPDR Nuveen Municipal Bond ETF MBND SSGA Active Trust SPDR DoubleLine Total Return Tactical ETF TOTL SSGA Active Trust SPDR SSGA Ultra Short Term Bond ETF ULST SSGA Active Trust SPDR DoubleLine Emerging Markets Fixed Income ETF EMTL SSGA Active Trust SPDR Blackstone Senior Loan ETF SRLN SSGA Active Trust Information Classification: Limited Access FUND OF FUNDS INVESTMENT AGREEMENT This Fund of Funds Investment Agreement (this “Agreement”), dated as of 10January 19, 2022 (the “Effective Date”), is made among FT Series, First Trust Exchange-1Traded Fund, First Trust Exchange-21) List Traded Fund II, First Trust Exchange-Traded Fund III, First Trust Exchange- Traded Fund IV, First Trust Exchange-Traded Fund V, First Trust Exchange-Traded Fund VI, First Trust Exchange-Traded Fund VII, First Trust Exchange-Traded Fund VIII, First Trust Series Fund, and First Trust Variable Insurance Trust, on behalf of each of their existing and future series that invests in an Acquired Funds to Which Fund in reliance on the Agreement AppliesRule as such terms are defined below and as listed on Schedule A, severally and not jointly (each, the “Acquiring Fund”), and SPDR S&P 500 ETF Trust and SPDR Dow Jxxxx Industrial Average ETF Trust, severally and not jointly (each, the “Acquired Fund” and together with the Acquiring Funds, the “Funds”).

Acquiring Funds. Horizon Active Asset Allocation Fund Horizon Active Risk Assist® Fund Horizon Active Registrant: The Glenmede Fund, Inc. on behalf of the following series: Strategic Equity Portfolio Quantitative U.S. Long/Short Equity Portfolio Quantitative U.S. Large Cap Growth Equity Portfolio Quantitative U.S. Large Cap Core Equity Portfolio Small Cap Equity Portfolio Quantitative International Equity Portfolio High Yield Municipal Portfolio Responsible ESG U.S. Equity Portfolio Women in Leadership U.S. Equity Portfolio Short Term Tax Aware Fixed Income Fund Horizon Active Dividend Fund Horizon Defined Risk Fund Horizon Portfolio Equity Income Portfolio Quantitative U.S. Defensive Large Cap Value Equity Fund Portfolio Quantitative U.S. Small Cap Equity Portfolio Core Fixed Income Portfolio Quantitative U.S. Total Market Equity Portfolio Secured Options Portfolio Global Secured Options Portfolio SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies Acquired Funds Fund Name Ticker Trust Name The Communication Services Select Sector SPDR Dow Xxxxx International Fund XLC The Select Sector SPDR Trust The Consumer Discretionary Select Sector SPDR Fund XLY The Select Sector SPDR Trust The Consumer Staples Select Sector SPDR Fund XLP The Select Sector SPDR Trust The Energy Select Sector SPDR Fund XLE The Select Sector SPDR Trust The Financial Select Sector SPDR Fund XLF The Select Sector SPDR Trust The Health Care Select Sector SPDR Fund XLV The Select Sector SPDR Trust The Industrial Select Sector SPDR Fund XLI The Select Sector SPDR Trust The Materials Select Sector SPDR Fund XLB The Select Sector SPDR Trust The Real Estate ETF RWX Select Sector SPDR Index Shares Funds Fund XLRE The Select Sector SPDR Dow Xxxxx Global Real Estate ETF RWO Trust The Technology Select Sector SPDR Index Shares Funds Fund XLK The Select Sector SPDR EURO STOXX 50 ETF FEZ SPDR Index Shares Funds SPDR MSCI ACWI ex-US ETF CWI SPDR Index Shares Funds SPDR Portfolio MSCI Global Stock Market ETF SPGM SPDR Index Shares Funds SPDR MSCI ACWI Low Carbon Target ETF LOWC SPDR Index Shares Funds SPDR MSCI EAFE Fossil Fuel Reserves Free ETF EFAX SPDR Index Shares Funds SPDR MSCI EAFE StrategicFactors ETF QEFA SPDR Index Shares Funds SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF EEMX SPDR Index Shares Funds SPDR MSCI Emerging Markets StrategicFactors ETF QEMM SPDR Index Shares Funds SPDR MSCI World StrategicFactors ETF QWLD SPDR Index Shares Funds SPDR S&P Emerging Asia Pacific ETF GMF SPDR Index Shares Funds SPDR S&P North American Natural Resources ETF NANR SPDR Index Shares Funds SPDR S&P China ETF GXC SPDR Index Shares Funds SPDR Portfolio Developed World ex-US ETF SPDW SPDR Index Shares Funds SPDR S&P International Small Cap ETF GWX SPDR Index Shares Funds SPDR Portfolio Emerging Markets ETF SPEM SPDR Index Shares Funds SPDR S&P Emerging Markets Dividend ETF EDIV SPDR Index Shares Funds SPDR S&P Emerging Markets Small Cap ETF EWX SPDR Index Shares Funds SPDR S&P Global Dividend ETF WDIV SPDR Index Shares Funds SPDR S&P Global Infrastructure ETF GII SPDR Index Shares Funds SPDR S&P Global Natural Resources ETF GNR SPDR Index Shares Funds SPDR S&P International Dividend ETF DWX SPDR Index Shares Funds SPDR Portfolio Europe ETF SPEU SPDR Index Shares Funds SPDR Bloomberg Barclays 1-10 Year TIPS ETF TIPX SPDR Series Trust SPDR Bloomberg Barclays 1-3 Month T-Xxxx ETF BIL SPDR Series Trust SPDR Bloomberg Barclays Short Term International Treasury Bond ETF BWZ SPDR Series Trust SPDR Portfolio Short Term Treasury ETF SPTS SPDR Series Trust SPDR Portfolio Intermediate Term Treasury ETF SPTI SPDR Series Trust SPDR Bloomberg Barclays 3-12 Month T-Xxxx ETF XXXX SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets USD Bond ETF EMHC SPDR Series Trust SPDR Bloomberg Barclays International Corporate Bond ETF IBND SPDR Series Trust SPDR Bloomberg Barclays International Treasury Bond ETF BWX SPDR Series Trust SPDR Bloomberg Barclays High Yield Bond ETF JNK SPDR Series Trust SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB SPDR Series Trust SPDR Portfolio Long Term Corporate Bond ETF SPLB SPDR Series Trust SPDR Portfolio Long Term Treasury ETF SPTL SPDR Series Trust SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF SHM SPDR Series Trust SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI SPDR Series Trust SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF HYMB SPDR Series Trust SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement AppliesTrust

Acquiring Funds. Horizon Active Asset Allocation FT Series All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Risk Assist® All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Income II All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Dividend III All Existing and Future Series First Trust Exchange-Traded Fund Horizon Defined Risk IV All Existing and Future Series First Trust Exchange-Traded Fund Horizon U.S. Defensive Equity V All Existing and Future Series First Trust Exchange-Traded Fund VI All Existing and Future Series First Trust Exchange-Traded Fund VII All Existing and Future Series First Trust Exchange-Traded Fund VIII All Existing and Future Series First Trust Series Fund All Existing and Future Series First Trust Variable Insurance Trust All Existing and Future Series SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies Fund Name Ticker Trust SPDR Dow Xxxxx Jxxxx International Real Estate ETF RWX SPDR Index Shares Funds SPDR Dow Xxxxx Jxxxx Global Real Estate ETF RWO SPDR Index Shares Funds SPDR EURO STOXX 50 ETF FEZ SPDR Index Shares Funds SPDR MSCI ACWI ex-US ETF CWI SPDR Index Shares Funds SPDR Portfolio MSCI Global Stock Market ETF SPGM SPDR Index Shares Funds SPDR MSCI ACWI Low Carbon Target ETF LOWC SPDR Index Shares Funds SPDR MSCI EAFE Fossil Fuel Reserves Free ETF EFAX SPDR Index Shares Funds SPDR MSCI EAFE StrategicFactors ETF QEFA SPDR Index Shares Funds SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF EEMX SPDR Index Shares Funds SPDR MSCI Emerging Markets StrategicFactors ETF QEMM SPDR Index Shares Funds SPDR MSCI World StrategicFactors ETF QWLD SPDR Index Shares Funds SPDR S&P Emerging Asia Pacific ETF GMF SPDR Index Shares Funds SPDR S&P North American Natural Resources ETF NANR SPDR Index Shares Funds SPDR S&P China ETF GXC SPDR Index Shares Funds SPDR Portfolio Developed World ex-US ETF SPDW SPDR Index Shares Funds SPDR S&P International Small Cap ETF GWX SPDR Index Shares Funds SPDR Portfolio Emerging Markets ETF SPEM SPDR Index Shares Funds SPDR S&P Emerging Markets Dividend ETF EDIV SPDR Index Shares Funds SPDR S&P Emerging Markets Small Cap ETF EWX SPDR Index Shares Funds SPDR S&P Global Dividend ETF WDIV SPDR Index Shares Funds SPDR S&P Global Infrastructure ETF GII SPDR Index Shares Funds SPDR S&P Global Natural Resources ETF GNR SPDR Index Shares Funds SPDR S&P International Dividend ETF DWX SPDR Index Shares Funds SPDR Portfolio Europe ETF SPEU SPDR Index Shares Funds SPDR Bloomberg Barclays 1-10 Year TIPS ETF TIPX SPDR Series Trust SPDR Bloomberg Barclays 1-3 Month T-Xxxx Bxxx ETF BIL SPDR Series Trust SPDR Bloomberg Barclays Short Term International Treasury Bond ETF BWZ SPDR Series Trust SPDR Portfolio Short Term Treasury ETF SPTS SPDR Series Trust SPDR Portfolio Intermediate Term Treasury ETF SPTI SPDR Series Trust SPDR Bloomberg Barclays 3-12 Month T-Xxxx Bxxx ETF XXXX BILS SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets USD Bond ETF EMHC SPDR Series Trust SPDR Bloomberg Barclays International Corporate Bond ETF IBND SPDR Series Trust SPDR Bloomberg Barclays International Treasury Bond ETF BWX SPDR Series Trust SPDR Bloomberg Barclays High Yield Bond ETF JNK SPDR Series Trust SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB SPDR Series Trust SPDR Portfolio Long Term Corporate Bond ETF SPLB SPDR Series Trust SPDR Portfolio Long Term Treasury ETF SPTL SPDR Series Trust SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF SHM SPDR Series Trust SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI SPDR Series Trust SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF HYMB SPDR Series Trust SCHEDULE B SPDR Portfolio Short Term Corporate Bond ETF SPSB SPDR Series Trust SPDR Portfolio Aggregate Bond ETF SPAB SPDR Series Trust SPDR Bloomberg Barclays Convertible Securities ETF CWB SPDR Series Trust SPDR Bloomberg Barclays Investment Grade Floating Rate ETF FLRN SPDR Series Trust SPDR Portfolio TIPS ETF SPIP SPDR Series Trust SPDR Portfolio Mortgage Backed Bond ETF SPMB SPDR Series Trust SPDR Portfolio Corporate Bond ETF SPBO SPDR Series Trust SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK SPDR Series Trust SPDR Bloomberg SASB Corporate Bond ESG Select ETF RBND SPDR Series Trust SPDR Dow Jxxxx REIT ETF RWR SPDR Series Trust SPDR FactSet Innovative Technology ETF XITK SPDR Series Trust SPDR FTSE International Government Inflation-Protected Bond ETF WIP SPDR Series Trust SPDR Global Dow ETF DGT SPDR Series Trust SPDR Portfolio High Yield Bond ETF SPHY SPDR Series Trust SPDR ICE Preferred Securities ETF PSK SPDR Series Trust SPDR MSCI USA StrategicFactors ETF QUS SPDR Series Trust SPDR NYSE Technology ETF XNTK SPDR Series Trust SPDR Rxxxxxx 1000 Low Volatility Focus ETF ONEV SPDR Series Trust SPDR Rxxxxxx 1000 Momentum Focus ETF ONEO SPDR Series Trust SPDR Rxxxxxx 1000 Yield Focus ETF OXXX SPDR Series Trust SPDR S&P 1500 Value Tilt ETF VLU SPDR Series Trust SPDR S&P 1500 Momentum Tilt ETF MXXX SPDR Series Trust SPDR S&P 500 ESG ETF EFIV SPDR Series Trust SPDR S&P 500 Fossil Fuel Reserves Free ETF SPYX SPDR Series Trust SPDR Portfolio S&P 500 Growth ETF SPYG SPDR Series Trust SPDR Portfolio S&P 500 High Dividend ETF SPYD SPDR Series Trust SPDR Portfolio S&P 500 ETF SPLG SPDR Series Trust SPDR Portfolio S&P 500 Value ETF SPYV SPDR Series Trust SPDR S&P Aerospace & Defense ETF XAR SPDR Series Trust SPDR S&P Bank ETF KBE SPDR Series Trust SPDR S&P Biotech ETF XBI SPDR Series Trust SPDR S&P Capital Markets ETF KCE SPDR Series Trust SPDR Portfolio S&P 1500 Composite Stock Market ETF SPTM SPDR Series Trust SPDR S&P Health Care Equipment ETF XHE SPDR Series Trust SPDR S&P Health Care Services ETF XHS SPDR Series Trust SPDR S&P Dividend ETF SDY SPDR Series Trust SPDR S&P Homebuilders ETF XHB SPDR Series Trust SPDR S&P Insurance ETF KIE SPDR Series Trust SPDR S&P Internet ETF XWEB SPDR Series Trust SPDR S&P Kensho Clean Power ETF CNRG SPDR Series Trust SPDR S&P Kensho Final Frontiers ETF ROKT SPDR Series Trust SPDR S&P Kensho Future Security ETF FXXX SPDR Series Trust SPDR S&P Kensho Intelligent Structures ETF SXXX SPDR Series Trust SPDR S&P Kensho New Economies Composite ETF KOMP SPDR Series Trust SPDR S&P Kensho Smart Mobility ETF HAIL SPDR Series Trust SPDR S&P Metals & Mining ETF XME SPDR Series Trust SPDR S&P 400 Mid Cap Growth ETF MDYG SPDR Series Trust SPDR S&P 400 Mid Cap Value ETF MDYV SPDR Series Trust SPDR Portfolio S&P 400 Mid Cap ETF SPMD SPDR Series Trust SPDR S&P Oil & Gas Equipment & Services ETF XES SPDR Series Trust SPDR S&P Oil & Gas Exploration & Production ETF XOP SPDR Series Trust SPDR S&P Pharmaceuticals ETF XPH SPDR Series Trust SPDR S&P Regional Banking ETF KRE SPDR Series Trust SPDR S&P Retail ETF XRT SPDR Series Trust SPDR S&P Semiconductor ETF XSD SPDR Series Trust SPDR S&P 600 Small Cap ETF SLY SPDR Series Trust SPDR S&P 600 Small Cap Growth ETF SLYG SPDR Series Trust SPDR Portfolio S&P 600 Small Cap ETF SPSM SPDR Series Trust SPDR S&P 600 Small Cap Value ETF SLYV SPDR Series Trust SPDR S&P Software & Services ETF XSW SPDR Series Trust SPDR S&P Telecom ETF XTL SPDR Series Trust SPDR S&P Transportation ETF XTN SPDR Series Trust SPDR SSGA Gender Diversity Index ETF SHE SPDR Series Trust SPDR SSGA US Large Cap Low Volatility Index ETF LGLV SPDR Series Trust SPDR SSGA US Small Cap Low Volatility Index ETF SMLV SPDR Series Trust SPDR Nuveen Municipal Bond ETF MBND SSGA Active Trust SPDR DoubleLine Total Return Tactical ETF TOTL SSGA Active Trust SPDR SSGA Ultra Short Term Bond ETF ULST SSGA Active Trust SPDR DoubleLine Emerging Markets Fixed Income ETF EMTL SSGA Active Trust SPDR Blackstone Senior Loan ETF SRLN SSGA Active Trust Information Classification: Limited Access FUND OF FUNDS INVESTMENT AGREEMENT This Fund of Funds Investment Agreement (this “Agreement”), dated as of 10January 19, 2022 (the “Effective Date”), is made among FT Series, First Trust Exchange-1Traded Fund, First Trust Exchange-21) List Traded Fund II, First Trust Exchange-Traded Fund III, First Trust Exchange- Traded Fund IV, First Trust Exchange-Traded Fund V, First Trust Exchange-Traded Fund VI, First Trust Exchange-Traded Fund VII, First Trust Exchange-Traded Fund VIII, First Trust Series Fund, and First Trust Variable Insurance Trust, on behalf of each of their existing and future series that invests in an Acquired Funds to Which Fund in reliance on the Agreement AppliesRule as such terms are defined below and as listed on Schedule A, severally and not jointly (each, the “Acquiring Fund”), and The Select Sector SPDR Trust, on behalf of each of its series listed on Schedule B, severally and not jointly (each, the “Acquired Fund” and together with the Acquiring Funds, the “Funds”).

Acquiring Funds. Horizon Active Asset Allocation BlackRock Funds V BlackRock High Yield Bond Portfolio BlackRock Sustainable High Yield Bond Fund Horizon Active Risk Assist® BlackRock Series Fund Horizon Active Income Fund Horizon Active Dividend Fund Horizon Defined Risk Fund Horizon U.S. Defensive Equity II, Inc. BlackRock High Yield Portfolio BlackRock Variable Series Funds II, Inc. BlackRock High Yield V.I. Fund SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies Fund Name Ticker Trust SPDR Dow Xxxxx International Real Estate ETF RWX SPDR Index Shares Funds SPDR Dow Xxxxx Global Real Estate ETF RWO SPDR Index Shares Funds SPDR EURO STOXX 50 ETF FEZ SPDR Index Shares Funds SPDR MSCI ACWI ex-US ETF CWI SPDR Index Shares Funds SPDR Portfolio MSCI Global Stock Market ETF SPGM SPDR Index Shares Funds SPDR MSCI ACWI Low Carbon Target ETF LOWC SPDR Index Shares Funds SPDR MSCI EAFE Fossil Fuel Reserves Free ETF EFAX SPDR Index Shares Funds SPDR MSCI EAFE StrategicFactors ETF QEFA SPDR Index Shares Funds SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF EEMX SPDR Index Shares Funds SPDR MSCI Emerging Markets StrategicFactors ETF QEMM SPDR Index Shares Funds SPDR MSCI World StrategicFactors ETF QWLD SPDR Index Shares Funds SPDR S&P Emerging Asia Pacific ETF GMF SPDR Index Shares Funds SPDR S&P North American Natural Resources ETF NANR SPDR Index Shares Funds SPDR S&P China ETF GXC SPDR Index Shares Funds SPDR Portfolio Developed World ex-US ETF SPDW SPDR Index Shares Funds SPDR S&P International Small Cap ETF GWX SPDR Index Shares Funds SPDR Portfolio Emerging Markets ETF SPEM SPDR Index Shares Funds SPDR S&P Emerging Markets Dividend ETF EDIV SPDR Index Shares Funds SPDR S&P Emerging Markets Small Cap ETF EWX SPDR Index Shares Funds SPDR S&P Global Dividend ETF WDIV SPDR Index Shares Funds SPDR S&P Global Infrastructure ETF GII SPDR Index Shares Funds SPDR S&P Global Natural Resources ETF GNR SPDR Index Shares Funds SPDR S&P International Dividend ETF DWX SPDR Index Shares Funds SPDR Portfolio Europe ETF SPEU SPDR Index Shares Funds SPDR Bloomberg Barclays 1-10 Year TIPS ETF TIPX SPDR Series Trust SPDR Bloomberg Barclays 1-3 Month T-Xxxx Bill ETF BIL SPDR Series Trust SPDR Bloomberg Barclays Short Term International Treasury Bond ETF BWZ SPDR Series Trust SPDR Portfolio Short Term Treasury ETF SPTS SPDR Series Trust SPDR Portfolio Intermediate Term Treasury ETF SPTI SPDR Series Trust SPDR Bloomberg Barclays 3-12 Month T-Xxxx Bill ETF XXXX BILS SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets USD Bond ETF EMHC SPDR Series Trust SPDR Bloomberg Barclays International Corporate Bond ETF IBND SPDR Series Trust SPDR Bloomberg Barclays International Treasury Bond ETF BWX SPDR Series Trust SPDR Bloomberg Barclays High Yield Bond ETF JNK SPDR Series Trust SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB SPDR Series Trust SPDR Portfolio Long Term Corporate Bond ETF SPLB SPDR Series Trust SPDR Portfolio Long Term Treasury ETF SPTL SPDR Series Trust SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF SHM SPDR Series Trust SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI SPDR Series Trust SPDR Nuveen Bloomberg Xxxxxx Xxxxxxxxx Barclays High Yield Municipal Bond ETF HYMB SPDR Series Trust SCHEDULE B (as of 10SPDR Portfolio Short Term Corporate Bond ETF SPSB SPDR Series Trust SPDR Portfolio Aggregate Bond ETF SPAB SPDR Series Trust SPDR Bloomberg Barclays Convertible Securities ETF CWB SPDR Series Trust SPDR Bloomberg Barclays Investment Grade Floating Rate ETF FLRN SPDR Series Trust SPDR Portfolio TIPS ETF SPIP SPDR Series Trust SPDR Portfolio Mortgage Backed Bond ETF SPMB SPDR Series Trust SPDR Portfolio Corporate Bond ETF SPBO SPDR Series Trust SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK SPDR Series Trust SPDR Bloomberg SASB Corporate Bond ESG Select ETF RBND SPDR Series Trust SPDR Xxx Xxxxx REIT ETF RWR SPDR Series Trust SPDR FactSet Innovative Technology ETF XITK SPDR Series Trust SPDR FTSE International Government Inflation-1-21) List of Acquired Funds to Which the Agreement AppliesProtected Bond ETF WIP SPDR Series Trust SPDR Global Dow ETF DGT SPDR Series Trust SPDR Portfolio High Yield Bond ETF SPHY SPDR Series Trust SPDR ICE Preferred Securities ETF PSK SPDR Series Trust SPDR MSCI USA StrategicFactors ETF QUS SPDR Series Trust SPDR NYSE Technology ETF XNTK SPDR Series Trust SPDR Xxxxxxx 1000 Low Volatility Focus ETF ONEV SPDR Series Trust SPDR Xxxxxxx 1000 Momentum Focus ETF ONEO SPDR Series Trust SPDR Xxxxxxx 1000 Yield Focus ETF XXXX SPDR Series Trust SPDR S&P 1500 Value Tilt ETF VLU SPDR Series Trust SPDR S&P 1500 Momentum Tilt ETF XXXX SPDR Series Trust SPDR S&P 500 ESG ETF EFIV SPDR Series Trust SPDR S&P 500 Fossil Fuel Reserves Free ETF SPYX SPDR Series Trust SPDR Portfolio S&P 500 Growth ETF SPYG SPDR Series Trust SPDR Portfolio S&P 500 High Dividend ETF SPYD SPDR Series Trust SPDR Portfolio S&P 500 ETF SPLG SPDR Series Trust SPDR Portfolio S&P 500 Value ETF SPYV SPDR Series Trust SPDR S&P Aerospace & Defense ETF XAR SPDR Series Trust SPDR S&P Bank ETF KBE SPDR Series Trust SPDR S&P Biotech ETF XBI SPDR Series Trust SPDR S&P Capital Markets ETF KCE SPDR Series Trust SPDR Portfolio S&P 1500 Composite Stock Market ETF SPTM SPDR Series Trust SPDR S&P Health Care Equipment ETF XHE SPDR Series Trust SPDR S&P Health Care Services ETF XHS SPDR Series Trust SPDR S&P Dividend ETF SDY SPDR Series Trust SPDR S&P Homebuilders ETF XHB SPDR Series Trust SPDR S&P Insurance ETF KIE SPDR Series Trust SPDR S&P Internet ETF XWEB SPDR Series Trust SPDR S&P Kensho Clean Power ETF CNRG SPDR Series Trust SPDR S&P Kensho Final Frontiers ETF ROKT SPDR Series Trust SPDR S&P Kensho Future Security ETF XXXX SPDR Series Trust SPDR S&P Kensho Intelligent Structures ETF XXXX SPDR Series Trust SPDR S&P Kensho New Economies Composite ETF KOMP SPDR Series Trust SPDR S&P Kensho Smart Mobility ETF HAIL SPDR Series Trust SPDR S&P Metals & Mining ETF XME SPDR Series Trust SPDR S&P 400 Mid Cap Growth ETF MDYG SPDR Series Trust SPDR S&P 400 Mid Cap Value ETF MDYV SPDR Series Trust SPDR Portfolio S&P 400 Mid Cap ETF SPMD SPDR Series Trust SPDR S&P Oil & Gas Equipment & Services ETF XES SPDR Series Trust SPDR S&P Oil & Gas Exploration & Production ETF XOP SPDR Series Trust SPDR S&P Pharmaceuticals ETF XPH SPDR Series Trust SPDR S&P Regional Banking ETF KRE SPDR Series Trust SPDR S&P Retail ETF XRT SPDR Series Trust SPDR S&P Semiconductor ETF XSD SPDR Series Trust SPDR S&P 600 Small Cap ETF SLY SPDR Series Trust SPDR S&P 600 Small Cap Growth ETF SLYG SPDR Series Trust SPDR Portfolio S&P 600 Small Cap ETF SPSM SPDR Series Trust SPDR S&P 600 Small Cap Value ETF SLYV SPDR Series Trust SPDR S&P Software & Services ETF XSW SPDR Series Trust SPDR S&P Telecom ETF XTL SPDR Series Trust SPDR S&P Transportation ETF XTN SPDR Series Trust SPDR SSGA Gender Diversity Index ETF SHE SPDR Series Trust SPDR SSGA US Large Cap Low Volatility Index ETF LGLV SPDR Series Trust SPDR SSGA US Small Cap Low Volatility Index ETF SMLV SPDR Series Trust SPDR Nuveen Municipal Bond ETF MBND SSGA Active Trust SPDR DoubleLine Total Return Tactical ETF TOTL SSGA Active Trust SPDR SSGA Ultra Short Term Bond ETF ULST SSGA Active Trust SPDR DoubleLine Emerging Markets Fixed Income ETF EMTL SSGA Active Trust SPDR Blackstone Senior Loan ETF SRLN SSGA Active Trust

Acquiring Funds. Horizon Active Asset Allocation FT Series All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Risk Assist® All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Income II All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Dividend III All Existing and Future Series First Trust Exchange-Traded Fund Horizon Defined Risk IV All Existing and Future Series First Trust Exchange-Traded Fund Horizon U.S. Defensive Equity V All Existing and Future Series First Trust Exchange-Traded Fund VI All Existing and Future Series First Trust Exchange-Traded Fund VII All Existing and Future Series First Trust Exchange-Traded Fund VIII All Existing and Future Series First Trust Series Fund All Existing and Future Series First Trust Variable Insurance Trust All Existing and Future Series SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies Fund Name Ticker Trust SPDR Dow Xxxxx Jxxxx International Real Estate ETF RWX SPDR Index Shares Funds SPDR Dow Xxxxx Jxxxx Global Real Estate ETF RWO SPDR Index Shares Funds SPDR EURO STOXX 50 ETF FEZ SPDR Index Shares Funds SPDR MSCI ACWI ex-US ETF CWI SPDR Index Shares Funds SPDR Portfolio MSCI Global Stock Market ETF SPGM SPDR Index Shares Funds SPDR MSCI ACWI Low Carbon Target ETF LOWC SPDR Index Shares Funds SPDR MSCI EAFE Fossil Fuel Reserves Free ETF EFAX SPDR Index Shares Funds SPDR MSCI EAFE StrategicFactors ETF QEFA SPDR Index Shares Funds SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF EEMX SPDR Index Shares Funds SPDR MSCI Emerging Markets StrategicFactors ETF QEMM SPDR Index Shares Funds SPDR MSCI World StrategicFactors ETF QWLD SPDR Index Shares Funds SPDR S&P Emerging Asia Pacific ETF GMF SPDR Index Shares Funds SPDR S&P North American Natural Resources ETF NANR SPDR Index Shares Funds SPDR S&P China ETF GXC SPDR Index Shares Funds SPDR Portfolio Developed World ex-US ETF SPDW SPDR Index Shares Funds SPDR S&P International Small Cap ETF GWX SPDR Index Shares Funds SPDR Portfolio Emerging Markets ETF SPEM SPDR Index Shares Funds SPDR S&P Emerging Markets Dividend ETF EDIV SPDR Index Shares Funds SPDR S&P Emerging Markets Small Cap ETF EWX SPDR Index Shares Funds SPDR S&P Global Dividend ETF WDIV SPDR Index Shares Funds SPDR S&P Global Infrastructure ETF GII SPDR Index Shares Funds SPDR S&P Global Natural Resources ETF GNR SPDR Index Shares Funds SPDR S&P International Dividend ETF DWX SPDR Index Shares Funds SPDR Portfolio Europe ETF SPEU SPDR Index Shares Funds SPDR Bloomberg Barclays 1-10 Year TIPS ETF TIPX SPDR Series Trust SPDR Bloomberg Barclays 1-3 Month T-Xxxx Bill ETF BIL SPDR Series Trust SPDR Bloomberg Barclays Short Term International Treasury Bond ETF BWZ SPDR Series Trust SPDR Portfolio Short Term Treasury ETF SPTS SPDR Series Trust SPDR Portfolio Intermediate Term Treasury ETF SPTI SPDR Series Trust SPDR Bloomberg Barclays 3-12 Month T-Xxxx Bill ETF XXXX BILS SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets USD Bond ETF EMHC SPDR Series Trust SPDR Bloomberg Barclays International Corporate Bond ETF IBND SPDR Series Trust SPDR Bloomberg Barclays International Treasury Bond ETF BWX SPDR Series Trust SPDR Bloomberg Barclays High Yield Bond ETF JNK SPDR Series Trust SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB SPDR Series Trust SPDR Portfolio Long Term Corporate Bond ETF SPLB SPDR Series Trust SPDR Portfolio Long Term Treasury ETF SPTL SPDR Series Trust SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF SHM SPDR Series Trust SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI SPDR Series Trust SPDR Nuveen Bloomberg Nxxxxx Xxxxxxxxx Barclays High Yield Municipal Bond ETF HYMB SPDR Series Trust SCHEDULE B SPDR Portfolio Short Term Corporate Bond ETF SPSB SPDR Series Trust SPDR Portfolio Aggregate Bond ETF SPAB SPDR Series Trust SPDR Bloomberg Barclays Convertible Securities ETF CWB SPDR Series Trust SPDR Bloomberg Barclays Investment Grade Floating Rate ETF FLRN SPDR Series Trust SPDR Portfolio TIPS ETF SPIP SPDR Series Trust SPDR Portfolio Mortgage Backed Bond ETF SPMB SPDR Series Trust SPDR Portfolio Corporate Bond ETF SPBO SPDR Series Trust SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK SPDR Series Trust SPDR Bloomberg SASB Corporate Bond ESG Select ETF RBND SPDR Series Trust SPDR Dxx Xxxxx REIT ETF RWR SPDR Series Trust SPDR FactSet Innovative Technology ETF XITK SPDR Series Trust SPDR FTSE International Government Inflation-Protected Bond ETF WIP SPDR Series Trust SPDR Global Dow ETF DGT SPDR Series Trust SPDR Portfolio High Yield Bond ETF SPHY SPDR Series Trust SPDR ICE Preferred Securities ETF PSK SPDR Series Trust SPDR MSCI USA StrategicFactors ETF QUS SPDR Series Trust SPDR NYSE Technology ETF XNTK SPDR Series Trust SPDR Rxxxxxx 1000 Low Volatility Focus ETF ONEV SPDR Series Trust SPDR Rxxxxxx 1000 Momentum Focus ETF ONEO SPDR Series Trust SPDR Rxxxxxx 1000 Yield Focus ETF OXXX SPDR Series Trust SPDR S&P 1500 Value Tilt ETF VLU SPDR Series Trust SPDR S&P 1500 Momentum Tilt ETF MXXX SPDR Series Trust SPDR S&P 500 ESG ETF EFIV SPDR Series Trust SPDR S&P 500 Fossil Fuel Reserves Free ETF SPYX SPDR Series Trust SPDR Portfolio S&P 500 Growth ETF SPYG SPDR Series Trust SPDR Portfolio S&P 500 High Dividend ETF SPYD SPDR Series Trust SPDR Portfolio S&P 500 ETF SPLG SPDR Series Trust SPDR Portfolio S&P 500 Value ETF SPYV SPDR Series Trust SPDR S&P Aerospace & Defense ETF XAR SPDR Series Trust SPDR S&P Bank ETF KBE SPDR Series Trust SPDR S&P Biotech ETF XBI SPDR Series Trust SPDR S&P Capital Markets ETF KCE SPDR Series Trust SPDR Portfolio S&P 1500 Composite Stock Market ETF SPTM SPDR Series Trust SPDR S&P Health Care Equipment ETF XHE SPDR Series Trust SPDR S&P Health Care Services ETF XHS SPDR Series Trust SPDR S&P Dividend ETF SDY SPDR Series Trust SPDR S&P Homebuilders ETF XHB SPDR Series Trust SPDR S&P Insurance ETF KIE SPDR Series Trust SPDR S&P Internet ETF XWEB SPDR Series Trust SPDR S&P Kensho Clean Power ETF CNRG SPDR Series Trust SPDR S&P Kensho Final Frontiers ETF ROKT SPDR Series Trust SPDR S&P Kensho Future Security ETF FXXX SPDR Series Trust SPDR S&P Kensho Intelligent Structures ETF SXXX SPDR Series Trust SPDR S&P Kensho New Economies Composite ETF KOMP SPDR Series Trust SPDR S&P Kensho Smart Mobility ETF HAIL SPDR Series Trust SPDR S&P Metals & Mining ETF XME SPDR Series Trust SPDR S&P 400 Mid Cap Growth ETF MDYG SPDR Series Trust SPDR S&P 400 Mid Cap Value ETF MDYV SPDR Series Trust SPDR Portfolio S&P 400 Mid Cap ETF SPMD SPDR Series Trust SPDR S&P Oil & Gas Equipment & Services ETF XES SPDR Series Trust SPDR S&P Oil & Gas Exploration & Production ETF XOP SPDR Series Trust SPDR S&P Pharmaceuticals ETF XPH SPDR Series Trust SPDR S&P Regional Banking ETF KRE SPDR Series Trust SPDR S&P Retail ETF XRT SPDR Series Trust SPDR S&P Semiconductor ETF XSD SPDR Series Trust SPDR S&P 600 Small Cap ETF SLY SPDR Series Trust SPDR S&P 600 Small Cap Growth ETF SLYG SPDR Series Trust SPDR Portfolio S&P 600 Small Cap ETF SPSM SPDR Series Trust SPDR S&P 600 Small Cap Value ETF SLYV SPDR Series Trust SPDR S&P Software & Services ETF XSW SPDR Series Trust SPDR S&P Telecom ETF XTL SPDR Series Trust SPDR S&P Transportation ETF XTN SPDR Series Trust SPDR SSGA Gender Diversity Index ETF SHE SPDR Series Trust SPDR SSGA US Large Cap Low Volatility Index ETF LGLV SPDR Series Trust SPDR SSGA US Small Cap Low Volatility Index ETF SMLV SPDR Series Trust SPDR Nuveen Municipal Bond ETF MBND SSGA Active Trust SPDR DoubleLine Total Return Tactical ETF TOTL SSGA Active Trust SPDR SSGA Ultra Short Term Bond ETF ULST SSGA Active Trust SPDR DoubleLine Emerging Markets Fixed Income ETF EMTL SSGA Active Trust SPDR Blackstone Senior Loan ETF SRLN SSGA Active Trust Information Classification: Limited Access FUND OF FUNDS INVESTMENT AGREEMENT This Fund of Funds Investment Agreement (this “Agreement”), dated as of 10January 19, 2022 (the “Effective Date”), is made among FT Series, First Trust Exchange-1Traded Fund, First Trust Exchange-21) List Traded Fund II, First Trust Exchange-Traded Fund III, First Trust Exchange-Traded Fund IV, First Trust Exchange-Traded Fund V, First Trust Exchange-Traded Fund VI, First Trust Exchange-Traded Fund VII, First Trust Exchange-Traded Fund VIII, First Trust Series Fund, and First Trust Variable Insurance Trust, on behalf of each of their existing and future series that invests in an Acquired Funds to Which Fund in reliance on the Agreement AppliesRule as such terms are defined below and as listed on Schedule A, severally and not jointly (each, the “Acquiring Fund”), and SPDR S&P 500 ETF Trust and SPDR Dow Jxxxx Industrial Average ETF Trust, severally and not jointly (each, the “Acquired Fund” and together with the Acquiring Funds, the “Funds”).

Acquiring Funds. Horizon Active Asset Allocation FT Series All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Risk Assist® All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Income II All Existing and Future Series First Trust Exchange-Traded Fund Horizon Active Dividend III All Existing and Future Series First Trust Exchange-Traded Fund Horizon Defined Risk IV All Existing and Future Series First Trust Exchange-Traded Fund Horizon U.S. Defensive Equity V All Existing and Future Series First Trust Exchange-Traded Fund VI All Existing and Future Series First Trust Exchange-Traded Fund VII All Existing and Future Series First Trust Exchange-Traded Fund VIII All Existing and Future Series First Trust Series Fund All Existing and Future Series First Trust Variable Insurance Trust All Existing and Future Series SCHEDULE B (as of 10-1-21) List of Acquired Funds to Which the Agreement Applies Fund Name Ticker Trust SPDR Dow Xxxxx Jxxxx International Real Estate ETF RWX SPDR Index Shares Funds SPDR Dow Xxxxx Jxxxx Global Real Estate ETF RWO SPDR Index Shares Funds SPDR EURO STOXX 50 ETF FEZ SPDR Index Shares Funds SPDR MSCI ACWI ex-US ETF CWI SPDR Index Shares Funds SPDR Portfolio MSCI Global Stock Market ETF SPGM SPDR Index Shares Funds SPDR MSCI ACWI Low Carbon Target ETF LOWC SPDR Index Shares Funds SPDR MSCI EAFE Fossil Fuel Reserves Free ETF EFAX SPDR Index Shares Funds SPDR MSCI EAFE StrategicFactors ETF QEFA SPDR Index Shares Funds SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF EEMX SPDR Index Shares Funds SPDR MSCI Emerging Markets StrategicFactors ETF QEMM SPDR Index Shares Funds SPDR MSCI World StrategicFactors ETF QWLD SPDR Index Shares Funds SPDR S&P Emerging Asia Pacific ETF GMF SPDR Index Shares Funds SPDR S&P North American Natural Resources ETF NANR SPDR Index Shares Funds SPDR S&P China ETF GXC SPDR Index Shares Funds SPDR Portfolio Developed World ex-US ETF SPDW SPDR Index Shares Funds SPDR S&P International Small Cap ETF GWX SPDR Index Shares Funds SPDR Portfolio Emerging Markets ETF SPEM SPDR Index Shares Funds SPDR S&P Emerging Markets Dividend ETF EDIV SPDR Index Shares Funds SPDR S&P Emerging Markets Small Cap ETF EWX SPDR Index Shares Funds SPDR S&P Global Dividend ETF WDIV SPDR Index Shares Funds SPDR S&P Global Infrastructure ETF GII SPDR Index Shares Funds SPDR S&P Global Natural Resources ETF GNR SPDR Index Shares Funds SPDR S&P International Dividend ETF DWX SPDR Index Shares Funds SPDR Portfolio Europe ETF SPEU SPDR Index Shares Funds SPDR Bloomberg Barclays 1-10 Year TIPS ETF TIPX SPDR Series Trust SPDR Bloomberg Barclays 1-3 Month T-Xxxx Bxxx ETF BIL SPDR Series Trust SPDR Bloomberg Barclays Short Term International Treasury Bond ETF BWZ SPDR Series Trust SPDR Portfolio Short Term Treasury ETF SPTS SPDR Series Trust SPDR Portfolio Intermediate Term Treasury ETF SPTI SPDR Series Trust SPDR Bloomberg Barclays 3-12 Month T-Xxxx Bxxx ETF XXXX BILS SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND SPDR Series Trust SPDR Bloomberg Barclays Emerging Markets USD Bond ETF EMHC SPDR Series Trust SPDR Bloomberg Barclays International Corporate Bond ETF IBND SPDR Series Trust SPDR Bloomberg Barclays International Treasury Bond ETF BWX SPDR Series Trust SPDR Bloomberg Barclays High Yield Bond ETF JNK SPDR Series Trust SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB SPDR Series Trust SPDR Portfolio Long Term Corporate Bond ETF SPLB SPDR Series Trust SPDR Portfolio Long Term Treasury ETF SPTL SPDR Series Trust SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF SHM SPDR Series Trust SPDR Nuveen Bloomberg Barclays Municipal Bond ETF TFI SPDR Series Trust SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF HYMB SPDR Series Trust SCHEDULE B SPDR Portfolio Short Term Corporate Bond ETF SPSB SPDR Series Trust SPDR Portfolio Aggregate Bond ETF SPAB SPDR Series Trust SPDR Bloomberg Barclays Convertible Securities ETF CWB SPDR Series Trust SPDR Bloomberg Barclays Investment Grade Floating Rate ETF FLRN SPDR Series Trust SPDR Portfolio TIPS ETF SPIP SPDR Series Trust SPDR Portfolio Mortgage Backed Bond ETF SPMB SPDR Series Trust SPDR Portfolio Corporate Bond ETF SPBO SPDR Series Trust SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK SPDR Series Trust SPDR Bloomberg SASB Corporate Bond ESG Select ETF RBND SPDR Series Trust SPDR Dow Jxxxx REIT ETF RWR SPDR Series Trust SPDR FactSet Innovative Technology ETF XITK SPDR Series Trust SPDR FTSE International Government Inflation-Protected Bond ETF WIP SPDR Series Trust SPDR Global Dow ETF DGT SPDR Series Trust SPDR Portfolio High Yield Bond ETF SPHY SPDR Series Trust SPDR ICE Preferred Securities ETF PSK SPDR Series Trust SPDR MSCI USA StrategicFactors ETF QUS SPDR Series Trust SPDR NYSE Technology ETF XNTK SPDR Series Trust SPDR Rxxxxxx 1000 Low Volatility Focus ETF ONEV SPDR Series Trust SPDR Rxxxxxx 1000 Momentum Focus ETF ONEO SPDR Series Trust SPDR Rxxxxxx 1000 Yield Focus ETF OXXX SPDR Series Trust SPDR S&P 1500 Value Tilt ETF VLU SPDR Series Trust SPDR S&P 1500 Momentum Tilt ETF MXXX SPDR Series Trust SPDR S&P 500 ESG ETF EFIV SPDR Series Trust SPDR S&P 500 Fossil Fuel Reserves Free ETF SPYX SPDR Series Trust SPDR Portfolio S&P 500 Growth ETF SPYG SPDR Series Trust SPDR Portfolio S&P 500 High Dividend ETF SPYD SPDR Series Trust SPDR Portfolio S&P 500 ETF SPLG SPDR Series Trust SPDR Portfolio S&P 500 Value ETF SPYV SPDR Series Trust SPDR S&P Aerospace & Defense ETF XAR SPDR Series Trust SPDR S&P Bank ETF KBE SPDR Series Trust SPDR S&P Biotech ETF XBI SPDR Series Trust SPDR S&P Capital Markets ETF KCE SPDR Series Trust SPDR Portfolio S&P 1500 Composite Stock Market ETF SPTM SPDR Series Trust SPDR S&P Health Care Equipment ETF XHE SPDR Series Trust SPDR S&P Health Care Services ETF XHS SPDR Series Trust SPDR S&P Dividend ETF SDY SPDR Series Trust SPDR S&P Homebuilders ETF XHB SPDR Series Trust SPDR S&P Insurance ETF KIE SPDR Series Trust SPDR S&P Internet ETF XWEB SPDR Series Trust SPDR S&P Kensho Clean Power ETF CNRG SPDR Series Trust SPDR S&P Kensho Final Frontiers ETF ROKT SPDR Series Trust SPDR S&P Kensho Future Security ETF FXXX SPDR Series Trust SPDR S&P Kensho Intelligent Structures ETF SXXX SPDR Series Trust SPDR S&P Kensho New Economies Composite ETF KOMP SPDR Series Trust SPDR S&P Kensho Smart Mobility ETF HAIL SPDR Series Trust SPDR S&P Metals & Mining ETF XME SPDR Series Trust SPDR S&P 400 Mid Cap Growth ETF MDYG SPDR Series Trust SPDR S&P 400 Mid Cap Value ETF MDYV SPDR Series Trust SPDR Portfolio S&P 400 Mid Cap ETF SPMD SPDR Series Trust SPDR S&P Oil & Gas Equipment & Services ETF XES SPDR Series Trust SPDR S&P Oil & Gas Exploration & Production ETF XOP SPDR Series Trust SPDR S&P Pharmaceuticals ETF XPH SPDR Series Trust SPDR S&P Regional Banking ETF KRE SPDR Series Trust SPDR S&P Retail ETF XRT SPDR Series Trust SPDR S&P Semiconductor ETF XSD SPDR Series Trust SPDR S&P 600 Small Cap ETF SLY SPDR Series Trust SPDR S&P 600 Small Cap Growth ETF SLYG SPDR Series Trust SPDR Portfolio S&P 600 Small Cap ETF SPSM SPDR Series Trust SPDR S&P 600 Small Cap Value ETF SLYV SPDR Series Trust SPDR S&P Software & Services ETF XSW SPDR Series Trust SPDR S&P Telecom ETF XTL SPDR Series Trust SPDR S&P Transportation ETF XTN SPDR Series Trust SPDR SSGA Gender Diversity Index ETF SHE SPDR Series Trust SPDR SSGA US Large Cap Low Volatility Index ETF LGLV SPDR Series Trust SPDR SSGA US Small Cap Low Volatility Index ETF SMLV SPDR Series Trust SPDR Nuveen Municipal Bond ETF MBND SSGA Active Trust SPDR DoubleLine Total Return Tactical ETF TOTL SSGA Active Trust SPDR SSGA Ultra Short Term Bond ETF ULST SSGA Active Trust SPDR DoubleLine Emerging Markets Fixed Income ETF EMTL SSGA Active Trust SPDR Blackstone Senior Loan ETF SRLN SSGA Active Trust Information Classification: Limited Access FUND OF FUNDS INVESTMENT AGREEMENT This Fund of Funds Investment Agreement (this “Agreement”), dated as of 10January 19, 2022 (the “Effective Date”), is made among FT Series, First Trust Exchange-1Traded Fund, First Trust Exchange-21) List Traded Fund II, First Trust Exchange-Traded Fund III, First Trust Exchange-Traded Fund IV, First Trust Exchange-Traded Fund V, First Trust Exchange-Traded Fund VI, First Trust Exchange-Traded Fund VII, First Trust Exchange-Traded Fund VIII, First Trust Series Fund, and First Trust Variable Insurance Trust, on behalf of each of their existing and future series that invests in an Acquired Funds to Which Fund in reliance on the Agreement AppliesRule as such terms are defined below and as listed on Schedule A, severally and not jointly (each, the “Acquiring Fund”), and SPDR S&P 500 ETF Trust and SPDR Dow Jxxxx Industrial Average ETF Trust, severally and not jointly (each, the “Acquired Fund” and together with the Acquiring Funds, the “Funds”).