FORM OF RULE 12d1-4 FUND OF FUNDS INVESTMENT AGREEMENTFund of Funds Investment Agreement • January 31st, 2022 • Vanguard Malvern Funds • Pennsylvania
Contract Type FiledJanuary 31st, 2022 Company JurisdictionTHIS AGREEMENT, dated as of , [between/among] the [Trust Name(s)], on behalf of [itself/themselves] and [its/their] separate series listed on Schedule A (each, an “Investing Fund”), severally and not jointly, and the investment trusts listed on Schedule A, on behalf of themselves and their respective series also listed on Schedule A, severally and not jointly (each, a “Vanguard Fund” and together with the Investing Funds, the “Funds”).