Jay Jacobs was appointed to the Board of Directors of iShares Delaware Trust Sponsor LLC, the sponsor of iShares Silver Trust, effective March 27, 2026. Mr. Jacobs was also appointed as President and Chief Executive Officer of the Sponsor, effective March 27, 2026. Shannon Ghia resigned as a Director and as President and Chief Executive Officer of the Sponsor, effective March 27, 2026. Ms. Ghia's decision to resign was not the result of any dispute or disagreement with the Sponsor or the Trust on any matter relating to the Trust's operations, policies, or practices. Mr. Jacobs is a Managing Director of BlackRock, Inc. and has served as the U.S. Head of Equity ETFs at BlackRock since April 7, 2025. His prior experience includes leading the research and strategy team at Global X ETFs from May 2013 to March 2022, and working as a business analyst at the New York Stock Exchange from July 2011 to May 2013. Mr. Jacobs earned a BA degree in International Studies from Emory University and an MBA from Columbia Business School, and is a CFA charterholder.