STOCK EXCHANGE ANNOUNCEMENT - FOR IMMEDIATE RELEASE

PIMCO ETFs plc

(the "Company")

Re: Change of Share Settlement Structure

Date: 26 October 2020

This notice is to make you aware that a change to the share settlement structure for the Company, as described in the circular issued to Shareholders of the Company dated 12 August 2020 (the "Circular"), took effect from 00.01 on 26  October 2020 (the "Effective Date"), whereby all sub-funds of the Company converted to a share settlement structure within an International Central Securities Depository model ("ICSD settlement model").

On the Effective Date all sub-funds of the Company converted to a new share settlement structure. With effect from the Effective Date, the shares of all the sub-funds of the Company (as listed below) will settle using an ICSD settlement model.  PIMCO US Low Duration Corporate Bond UCITS ETF already uses the ICSD Model.

PIMCO Euro Short Maturity UCITS ETF

PIMCO US Dollar Short Maturity UCITS ETF

PIMCO Sterling Short Maturity UCITS ETF

PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF

PIMCO US Short-Term High Yield Corporate Bond Index UCITS ETF

PIMCO Covered Bond UCITS ETF

PIMCO Euro Low Duration Corporate Bond UCITS ETF

PIMCO US Low Duration Corporate Bond UCITS ETF

PIMCO Euro Short-Term High Yield Corporate Bond Index UCITS ETF

Capitalised terms used but not defined herein shall bear the same meaning as outlined in the Circular.

The updated prospectus, supplements, key investor information documents and Articles will be available free of charge at the Company's registered office at 78 Sir John Rogerson's Quay, Dublin 2, D02 HD32, Ireland and online at www.pimco.com.

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