Recent news highlights the Trust as one of several gold ETFs providing accessible exposure to gold prices.

• The Trust is mentioned among three gold ETFs offering easy exposure to the precious metal, emphasizing its role as a cost-efficient investment vehicle for gold [N1].

The Trust offers investors a simple, cost-efficient way to gain exposure to gold prices through shares backed by physical gold. Its structure and custodial arrangements provide transparency and security of assets. The ability to trade shares on a major exchange with arbitrage mechanisms supports liquidity and price alignment with gold's market value. The Sponsor's fee waiver reduces expenses, enhancing cost efficiency for investors. The Trust's growth in net asset value and shares outstanding indicates increasing investor interest and adoption.

The Trust's shares may trade at a premium or discount to net asset value due to market supply and demand dynamics and non-concurrent trading hours with major gold markets, potentially impacting investor returns. The Trust does not provide regulatory protections afforded to registered investment companies or commodity pools, which may increase investor risk. Custodial insurance benefits the custodian, not the Trust, potentially limiting recovery in case of loss. The Sponsor's fee waiver is voluntary and may be discontinued, increasing expenses. The Trust's reliance on authorized participants for share issuance and redemption may affect liquidity under certain conditions.

The Trust's moat derives from its structure as a grantor trust backed by physical gold held by a reputable custodian with insured custody arrangements. Its listing on NYSE Arca and the ability to issue and redeem shares in baskets through authorized participants provide liquidity and arbitrage mechanisms that help maintain share price alignment with net asset value. The Trust benefits from BlackRock's sponsorship and established infrastructure, including administrative and marketing expense support. The Trust's design removes barriers to gold investment for retail investors by offering fractional shares that reflect gold prices without the complexities and costs of direct physical gold ownership.

• Market Price Volatility: Shares may trade at prices above or below the net asset value due to market supply and demand and timing differences with gold markets, affecting investor returns.
• Regulatory Protections: The Trust is not registered as an investment company or commodity pool, so investors lack certain regulatory protections available to those investment vehicles.
• Custodial Risk: While the custodian maintains insurance, it benefits the custodian and not the Trust, potentially limiting recovery in case of gold loss.
• Sponsor Fee Waiver: The Sponsor's fee waiver reducing expenses to 0.07% is voluntary and may be discontinued, which could increase the Trust's expenses.
• Liquidity Dependence: The Trust relies on authorized participants for creation and redemption of shares, which may impact liquidity under certain market conditions.

• iShares Gold Trust Micro is a grantor trust formed under New York law, sponsored by iShares Delaware Trust Sponsor LLC, a subsidiary of BlackRock, Inc.
• The Trust's purpose is to own gold transferred to it in exchange for shares, each representing a fractional undivided beneficial interest in the Trust's net assets.
• The Trust's assets primarily consist of physical gold held by JPMorgan Chase Bank N.A., London Branch as custodian, with gold stored in vaults in New York, London, and other authorized locations.
• The Trust issues and redeems shares in baskets of 50,000 shares only to authorized participants who deposit or receive gold accordingly.
• The Trust is not actively managed, does not lend its gold, and does not engage in trading or hedging activities.
• Shares trade on NYSE Arca under ticker IAUM and may trade at a premium or discount to net asset value (NAV).
• The NAV is calculated daily based on the LBMA Gold Price PM or AM, less expenses and liabilities.
• The Trust's only ordinary recurring expense is the Sponsor's fee, accrued at 0.09% annually but currently waived to 0.07% through June 30, 2027.
• The Sponsor assumes certain administrative and marketing expenses, including trustee, custodian, listing, SEC registration, audit, and legal fees up to $500,000 annually.
• The Trust's net asset value grew from approximately $1.36 billion at December 31, 2024 to approximately $6.03 billion at December 31, 2025, with shares outstanding increasing from 52.2 million to 140.4 million.
• Financial snapshot as of September 30, 2026 shows net income of $184.9 million and basic EPS of $1.08; cash and equivalents reported as zero as of December 31, 2022.
• The Trust does not hold or trade commodity futures or other instruments regulated by the Commodity Exchange Act and is not registered as an investment company under U.S. federal securities laws.
• The Custodian maintains insurance covering gold loss but the insurance benefits the Custodian, not the Trust or Trustee.
• The Custodian and any sub-custodians grant inspection rights to the Trustee and independent auditors to verify gold holdings.
• The Trust's shares provide a cost-efficient and accessible alternative to direct investment in physical gold, avoiding complexities of assay, transportation, warehousing, and insurance.
• Recent news coverage includes mention as one of three gold ETFs providing easy exposure to the precious metal [N1].