Document:

EX-10.4

 Exhibit 10.4 
  

 
 Execution Copy 

FUND ADMINISTRATION AND ACCOUNTING AGREEMENT 

THIS AGREEMENT is made as of January 5, 2017 by and between World Currency Gold Trust (the “Trust”), a Delaware statutory trust
organized in series, on behalf of each of its series (each, a “Fund” and collectively, the “Funds”), as listed on Exhibit A hereto (as such Exhibit may be amended from time to time) and The Bank of New York Mellon, a New York
corporation authorized to do a banking business (“BNY Mellon”). 
 WITNESSETH: 

WHEREAS, the Trust, on behalf of each Fund, desires to retain BNY Mellon to provide the services described herein, and BNY Mellon is willing
to provide such services, all as more fully set forth below. 
 NOW, THEREFORE, in consideration of the mutual promises and agreements
contained herein, the parties hereby agree as follows: 
 1. Definitions. 

Whenever used in this Agreement, unless the context otherwise requires, the following words shall have the meanings set forth below: 

“1933 Act” means the Securities Act of 1933, as amended. 

“1934 Act” means the Securities Exchange Act of 1934, as amended. 

“Authorized Person” shall mean each person, whether or not an officer or an employee of the Trust, duly authorized to execute
this Agreement and to give Instructions on behalf of the Trust as set forth in Exhibit B hereto and each Authorized Person’s scope of authority may be limited by setting forth such limitation in a written document signed by both parties hereto.
From time to time the Trust may deliver a new Exhibit B to add or delete any person and BNY Mellon shall be entitled to rely on the last Exhibit B actually received by BNY Mellon. 

“BNY Mellon Affiliate” shall mean any office, branch, or subsidiary of The Bank of New York Mellon Corporation. 

 “Confidential Information” shall have the meaning given in Section 22 of
this Agreement. 
 “Documents” shall mean such other documents, including but not limited to, resolutions of the Sponsor
authorizing the execution, delivery and performance of this Agreement by the Trust, and opinions of outside counsel, as BNY Mellon may reasonably request from time to time, in connection with its provision of services under this Agreement. 

“Gold” shall mean gold bullion meeting the requirements of London Good Delivery. 

“Index” shall mean the underlying index for each Fund. 

“Instructions” shall mean Oral Instructions or written communications actually received by BNY Mellon by S.W.I.F.T., tested
telex, letter, facsimile transmission, or other method or system specified by BNY Mellon as available for use in connection with the services hereunder, from an Authorized Person or person believed in good faith to be an Authorized Person. 

“Investment Advisor” shall mean the entity identified by the Trust to BNY Mellon as the entity having investment
responsibility with respect to the Trust. 
 “LBMA” means The London Bullion Market Association. 

“London Good Delivery” shall have the meaning assigned in the “The Good Delivery Rules for Gold and Silver Bars”
published by the LBMA. 
 “Net Asset Value” shall mean the per share value of a Fund, calculated in the manner described in
the Funds’ Offering Materials. 
 “Offering Materials” shall mean the Funds’ currently effective prospectus and
most recently filed registration statement with the SEC relating to shares of the Funds. 
 “Organizational Documents”
shall mean certified copies of the Trust’s articles of incorporation, certificate of incorporation, certificate of formation or organization, certificate of limited partnership, bylaws, limited partnership agreement, memorandum of association,
limited liability company agreement, operating agreement, confidential offering memorandum, material 

  
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contracts, Offering Materials, all SEC exemptive orders issued to the Trust, required filings or similar documents of formation or organization, as applicable, delivered to and received by BNY
Mellon. 
 “Oral Instructions” shall mean oral instructions received by BNY Mellon under permissible circumstances
specified by BNY Mellon, in its sole discretion, as being from an Authorized Person or person believed in good faith by BNY Mellon to be an Authorized Person. 

“Reference Currency” shall mean each currency referenced in a Fund’s underlying Index. 

“SEC” means the United States Securities and Exchange Commission. 

“Securities Laws” means the 1933 Act and the 1934 Act. 

“Shares” means the shares of beneficial interest of any series or class of the Trust. 

“Sponsor” means the designated sponsor of the Trust, currently WGC USA Asset Management Company, LLC. 

2. Appointment. 
 The
Trust, on behalf of each Fund, hereby appoints BNY Mellon as its agent for the term of this Agreement to perform the services described herein. BNY Mellon hereby accepts such appointment and agrees to perform the duties hereinafter set forth. 

3. Representations and Warranties. 

(a) The Trust, on behalf of each Fund, hereby represents and warrants to BNY Mellon, which representations and warranties shall be deemed to
be continuing, that: 
 (i) It is duly organized and existing under the laws of the jurisdiction of its organization, with
full power to carry on its business as now conducted, to enter into this Agreement on behalf of each Fund, and to perform its obligations hereunder; 

(ii) This Agreement has been duly authorized, executed and delivered by the Trust, on its own behalf and on behalf of each
Fund, in accordance with all requisite action and constitutes a valid and legally binding obligation of such Fund, enforceable in accordance with its terms; 

  
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 (iii) It is conducting its business in compliance with all applicable laws and
regulations, both state and federal, has made and will continue to make all necessary filings including tax filings and has obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted; there is no
statute, regulation, rule, order or judgment binding on it and no provision of its Organizational Documents, nor of any mortgage, indenture, credit agreement or other contract binding on it or affecting its property which would prohibit its
execution or performance of this Agreement; 
 (iv) The method of valuation of Gold and each Reference Currency and the
method of computing the Net Asset Value shall be as set forth in the Offering Materials of the Funds. To the extent the performance of any services described in Schedule I attached hereto by BNY Mellon in accordance with the then effective Offering
Materials for the Funds would violate any applicable laws or regulations, the Funds shall immediately so notify BNY Mellon in writing and thereafter shall either furnish BNY Mellon with the appropriate values of Gold, each Reference Currency, net
asset value or other computation, as the case may be, or, instruct BNY Mellon in writing to value Gold and each Reference Currency and/or compute Net Asset Value or other computations in a manner each Fund specifies in writing, and either the
furnishing of such values or the giving of such instructions shall constitute a representation by such Fund that the same is consistent with all applicable laws and regulations and with its Offering Materials, all subject to confirmation by BNY
Mellon as to its capacity to act in accordance with the foregoing; 
 (v) The Trust hereby represents and warrants to BNY
Mellon that (i) the terms of this Agreement, (ii) the fees and expenses associated with this Agreement, and (iii) any benefits accruing to BNY Mellon or to the adviser to, or sponsor of, the Trust in connection with this Agreement,
including, but not limited to, any fee waivers, reimbursements, or payments made, or to be made, by BNY Mellon to such adviser or sponsor or to any affiliate of the Trust relating to this Agreement have been fully disclosed to the Trust or the
Trust’s sponsor and that, if required by applicable law, the Trust or the Trust’s sponsor has approved or will approve the terms of this Agreement, and any such fees, expenses, and benefits. 

  
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 (vi) Each person named on Exhibit B hereto is duly authorized by the Trust to be
an Authorized Person hereunder; 
 (vii) It has implemented, and is acting in accordance with, procedures reasonably designed
to ensure that it will disseminate to all market participants, other than Authorized Participants (as defined in its Prospectus and Statement of Additional Information), each calculation of net asset value provided by BNY hereunder to Authorized
Participants at the time BNY Mellon provides such calculation to Authorized Participants. 
 (b) BNY hereby represents and
warrants to the Trust, which representations and warranties shall be deemed to be continuing that: 
 (i) It is duly
organized and existing under the laws of the jurisdiction of its organization, with full power and authority to carry on its business as now conducted, to enter into this Agreement and to perform its obligations hereunder; 

(ii) This Agreement has been duly authorized, executed and delivered by BNY Mellon in accordance with all requisite action and
constitutes a valid and legally binding obligation of BNY Mellon, enforceable in accordance with its terms; 
 (iii) It has,
and will maintain, such backup, contingency and disaster recovery procedures as are required by its regulators. 
 4. Delivery of
Documents. 
 The Trust and each Fund shall promptly provide, deliver, or cause to be delivered from time to time, to BNY Mellon the
Trust’s Organizational Documents, a copy of any and all SEC exemptive orders issued to the Trust, and Documents and other materials used in the distribution of Shares and all amendments thereto as may be reasonably necessary for BNY Mellon to
perform its duties hereunder. BNY Mellon shall not be deemed to have notice of any information (other than information supplied by BNY Mellon or contained in an Organizational Document or Document previously delivered to BNY Mellon) contained in
such Organizational Documents, Documents or other materials until they are actually received by BNY Mellon. 

  
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 5. Duties and Obligations of BNY Mellon. 

(a) Subject to the direction and control of the Sponsor and the provisions of this Agreement, BNY Mellon shall provide to each Fund the
administrative services and the valuation and computation services listed on Schedule I attached hereto. 
 (b) In performing hereunder, BNY
Mellon shall provide, at its expense, office space, facilities, equipment and personnel. 
 (c) BNY Mellon shall not provide any services
relating to the management, investment advisory or sub-advisory functions of any Fund, distribution of shares of any Fund, maintenance of any Fund’s financial records, other than those listed in Schedule I attached hereto, or other services
normally performed by the Funds’ respective counsel or independent auditors and the services provided by BNY Mellon do not constitute, nor shall they be construed as constituting, legal advice or the provision of legal services for or on behalf
of the Fund or any other person, and each Fund acknowledges that BNY Mellon does not provide public accounting or auditing services or advice and will not be making any tax filings, or doing any tax reporting on its behalf, other than those
specifically agreed to hereunder. The scope of services provided by BNY Mellon under this Agreement shall not be increased as a result of new or revised regulatory or other requirements that may become applicable with respect to the Fund, unless the
parties hereto expressly agree in writing to any such increase in the scope of services. 
 (d) The Trust, on behalf of each Fund, shall
cause its officers, advisors, sponsor, distributor, legal counsel, independent accountants, current administrator (if any), transfer agent, and any other service provider to cooperate with BNY Mellon and to provide BNY Mellon, upon reasonable
request, with such information, documents and advice relating to such Fund as is within the possession or knowledge of such persons, and which BNY Mellon reasonably believes is necessary in order to enable BNY Mellon to perform its duties hereunder.
In connection with its duties hereunder, BNY Mellon shall not be responsible for, under any duty to inquire into, or be deemed to make any assurances with respect to the accuracy, validity or propriety of any information, documents or advice
provided to BNY Mellon by any of the aforementioned persons. BNY Mellon shall not be liable for any loss, damage or expense resulting from or arising out of the failure of a Fund to cause any information, documents or advice to be provided to BNY
Mellon as provided herein and shall be held harmless by each Fund when acting in good 

  
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faith reliance upon such information, documents or advice relating to such Fund, provided that BNY has carried out its duties in accordance with its standard of care as set forth herein. All fees
or costs charged by such persons shall be borne by the appropriate Fund. In the event that any services performed by BNY Mellon hereunder rely, in whole or in part, upon information obtained from a third party service utilized or subscribed to by
BNY Mellon which BNY Mellon in its reasonable judgment deems reliable, BNY Mellon shall not have any responsibility or liability for, under any duty to inquire into, or deemed to make any assurances with respect to, the accuracy or completeness of
such information. 
 (e) Nothing in this Agreement shall limit or restrict BNY Mellon, any BNY Mellon Affiliate or any officer or employee
thereof from acting for or with any third parties, and providing services similar or identical to some or all of the services provided hereunder. 

(f) The Trust, on behalf of each Fund, shall furnish BNY Mellon with any and all instructions, explanations, information, specifications and
documentation deemed necessary by BNY Mellon in the performance of its duties hereunder, including, without limitation, the amounts or written formula for calculating the amounts and times of accrual of Fund liabilities and expenses. BNY Mellon
shall not be required to include as Fund liabilities and expenses, nor as a reduction of net asset value, any accrual for any federal, state, or foreign income taxes unless the Fund shall have specified to BNY Mellon in Instructions the precise
amount of the same to be included in liabilities and expenses or used to reduce net asset value. The Trust, on behalf of each Fund, shall also furnish BNY Mellon with valuations for Gold and each Reference Currency if BNY Mellon notifies the Trust
that same are not available to BNY Mellon from a pricing service utilized, or subscribed to, by BNY Mellon which the Trust directs BNY Mellon to utilize, and which BNY Mellon in its judgment deems reliable at the time such information is required
for calculations hereunder. At any time and from time to time, the Fund also may furnish BNY Mellon with valuations for Gold and each Reference Currency and instruct BNY Mellon in Instructions to use such information in its calculations hereunder.
BNY Mellon shall at no time be required or obligated to commence or maintain any utilization of, or subscriptions to, any pricing service. In no event shall BNY Mellon be required to determine, or have any obligations with respect to, whether a
market price represents any fair or true value, nor to adjust any price to reflect any events or announcements, including, without limitation, those with respect to the issuer thereof, it being agreed that all such determinations and considerations
shall be solely for the Fund. 

  
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 (g) BNY Mellon may apply to an Authorized Person of any Fund for Instructions with respect to any
matter arising in connection with BNY Mellon’s performance hereunder for such Fund, and in the absence of manifest error, BNY Mellon shall not be liable for any action taken or omitted to be taken by it in good faith without gross negligence or
willful misconduct in accordance with such Instructions. Such application for Instructions may, at the option of BNY Mellon, set forth in writing any action proposed to be taken or omitted to be taken by BNY Mellon with respect to its duties or
obligations under this Agreement and the date on and/or after which such action shall be taken. Except as otherwise set forth herein, BNY Mellon shall not be liable for any action taken or omitted to be taken in accordance with a proposal included
in any such application on or after the date specified therein unless, prior to taking or omitting to take any such action, BNY Mellon has received Instructions from an Authorized Person in response to such application specifying the action to be
taken or omitted. 
 (h) BNY Mellon may consult with counsel to the Trust, and shall be fully protected with respect to anything done or
omitted by it provided that BNY Mellon acts in good faith and without gross negligence or willful misfeasance in carrying out such advice or opinion of such counsel to the Trust, and provided further that, any such action or omission by BNY Mellon
is consistent with BNY Mellon’s rights and responsibilities under this Agreement. 
 (i) Notwithstanding any other provision contained
in this Agreement or Schedule I attached hereto, BNY Mellon shall have no duty or obligation to determine, or advise or notify any Fund of: (i) the taxable nature of any distribution or amount received or deemed received by, or payable to, a
Fund, (ii) the taxable nature or effect on a Fund or its shareholders of any corporate actions, class actions, tax reclaims, tax refunds or similar events, (iii) the taxable nature or taxable amount of any distribution or dividend paid,
payable or deemed paid, by a Fund to its shareholders; or (iv) the effect under any federal, state, or foreign income tax laws of a Fund making or not making any distribution or dividend payment, or any election with respect thereto. 

(j) BNY Mellon shall have no duties or responsibilities whatsoever except such duties and responsibilities as are specifically set forth in
this Agreement and Schedule I attached hereto, and no covenant or obligation, except for those set forth herein, shall be implied against BNY Mellon in connection with this Agreement. 

  
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 (k) BNY Mellon, in performing the services required of it under the terms of this Agreement,
shall be entitled to rely fully on the accuracy and validity of any and all Instructions, explanations, information, specifications, Documents and documentation furnished to it by the Trust, on behalf of a Fund, and shall have no duty or obligation
to review the accuracy, validity or propriety of such Instructions, explanations, information, specifications, Documents or documentation, including, without limitation, evaluations of Gold; the amounts or formula for calculating the amounts and
times of accrual of Funds’ or Series’ liabilities and expenses; the amounts receivable and the amounts payable on the sale or purchase of Gold or any Reference Currency; and amounts receivable or amounts payable for the sale or redemption
of Fund Shares effected by or on behalf of a Fund. In the event BNY Mellon’s computations hereunder rely, in whole or in part, upon information, including, without limitation, bid, offer or market values of Gold, Reference Currencies or
other assets, or accruals of interest or earnings thereon, from a pricing or similar service utilized, or subscribed to, by BNY Mellon which the Fund directs BNY Mellon to utilize, and which BNY Mellon in its reasonable judgment deems reliable, BNY
Mellon shall not be responsible for, under any duty to inquire into, or deemed to make any assurances with respect to, the accuracy or completeness of such information. Without limiting the generality of the foregoing, BNY Mellon shall not be
required to inquire into any valuation of Gold, Reference Currencies or other assets by a Fund or any third party described in this sub-section (k) even though BNY Mellon in performing services similar to the services provided pursuant to this
Agreement for others may receive different valuations of Gold or Reference Currencies. 
 (l) BNY Mellon, in performing the services
required of it under the terms of this Agreement, shall not be responsible for determining whether any interest accruable to a Fund is or will be actually paid, but will accrue such interest until otherwise instructed by such Fund. 

(m) BNY Mellon shall not be responsible for damages (including without limitation damages caused by delays, failure, errors, interruption or
loss of data) which occur directly or indirectly by reason of circumstances beyond its reasonable control in the performance of its duties under this Agreement, including, without limitation, labor difficulties within or without BNY Mellon,
mechanical breakdowns, flood or catastrophe, acts of God, failures of transportation, interruptions, loss, or malfunctions of utilities, action or inaction of civil or military authority, national emergencies, public enemy, war, terrorism, riot,
sabotage, 

  
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non-performance by a third party, failure of the mails, communications, computer (hardware or software) services, or functions or malfunctions of the internet, firewalls, encryption systems or
security devices caused by any of the above. Nor shall BNY Mellon be responsible for delays or failures to supply the information or services specified in this Agreement where such delays or failures are caused by the failure of any person(s) other
than BNY Mellon or a BNY Mellon Affiliate to supply any instructions, explanations, information, specifications or documentation deemed necessary by BNY Mellon in the performance of its duties under this Agreement. Upon the occurrence of any such
delay or failure BNY Mellon shall use commercially reasonable efforts to resume performance as soon as practicable under the circumstances. 

6. Allocation of Expenses. 

Except as otherwise provided herein, all costs and expenses arising or incurred in connection with the performance of this Agreement shall be
paid by the Trust on behalf of each Fund, as appropriate, including but not limited to, organizational costs and costs of maintaining corporate existence, taxes, interest, brokerage fees and commissions, insurance premiums, compensation and expenses
of such Fund’s Sponsor, directors, officers or employees, legal, accounting and audit expenses, management, advisory, sub-advisory, administration and shareholder servicing fees, charges of custodians, transfer and dividend disbursing agents,
expenses (including clerical expenses) incident to the issuance, redemption or repurchase of Fund shares or membership interests, as applicable, fees and expenses incident to the registration or qualification under the Securities Laws, state or
other applicable securities laws of each Fund or its shares or membership interests, as applicable, costs (including printing and mailing costs) of preparing and distributing Offering Materials, reports, notices and proxy material to such
Fund’s shareholders or members, as applicable, all expenses incidental to holding meetings of such Fund’s Sponsor, directors and shareholders, and extraordinary expenses as may arise, including litigation affecting such Fund and legal
obligations relating thereto for which the Fund may have to indemnify its sponsor, directors, officers, managers, and/or members, as may be applicable. 

7. Portfolio Compliance Services. 

(a) If Schedule I contains a requirement for BNY Mellon to provide each Fund with portfolio compliance services, such services shall be
provided pursuant to the terms of this 

  
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Section 7 (the “Portfolio Compliance Services”). The precise compliance review and testing services to be provided shall be as mutually agreed between BNY Mellon and the Trust, on
behalf of each Fund, and the results of BNY Mellon’s Portfolio Compliance Services shall be detailed in a portfolio compliance summary report (the “Compliance Summary Report”) prepared on a periodic basis as mutually agreed. Each
Compliance Summary Report shall be subject to review and approval by the Trust. BNY Mellon shall have no responsibility or obligation to provide Portfolio Compliance Services other that those services specifically listed in Schedule I. 

(b) The Trust, on behalf of each Fund, will examine each Compliance Summary Report delivered to it by BNY Mellon and notify BNY Mellon of any
error, omission or discrepancy within ten (10) days of its receipt. The Trust agrees to notify BNY Mellon promptly in writing if it fails to receive any such Compliance Summary Report. In addition, if the Trust learns of any out-of-compliance
condition before receiving a Compliance Summary Report reflecting such condition, the Trust will notify BNY Mellon of such condition promptly after discovery thereof. 

(c) While BNY Mellon will endeavor to identify out-of-compliance conditions, BNY Mellon does not and could not for the fees charged, make any
guarantees, representations or warranties with respect to its ability to identify all such conditions. Provided BNY Mellon acted without gross negligence or willful misfeasance, in the event of any errors or omissions in the performance of Portfolio
Compliance Services, a Fund’s sole and exclusive remedy and BNY Mellon’s sole liability shall be limited to re-performance by BNY Mellon of the Portfolio Compliance Services affected and in connection therewith the correction of any error
or omission, if practicable and the preparation of a corrected report, at no cost to the Fund. 
 8. Regulatory Administration
Services. 
 (a) If Schedule I contains a requirement for BNY Mellon to provide each Fund with compliance support services and/or
Regulatory Administration services, such services shall be provided pursuant to the terms of this Section 8 (such services, collectively hereinafter referred to as the “Regulatory Support Services”). 

  
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 (b) Notwithstanding anything in this Agreement to the contrary, the Regulatory Support Services
provided by BNY Mellon under this Agreement are administrative in nature and do not constitute, nor shall they be construed as constituting, legal advice or the provision of legal services for or on behalf of a Fund or any other person. 

(c) All work product produced by BNY Mellon in connection with its provision of Regulatory Support Services under this Agreement is subject to
review and approval by the Trust and by the Trust’s legal counsel. The Regulatory Support Services performed by BNY Mellon under this Agreement will be at the request and direction of the Trust. BNY Mellon disclaims liability to the Fund, and
the Fund is solely responsible, for the adequacy and effectiveness of the Fund’s compliance program. 
 9. Standard of Care;
Indemnification. 
 (a) Except as otherwise provided herein, BNY Mellon shall exercise reasonable care and diligence in carrying out all
of its duties and obligations under this Agreement and BNY Mellon shall not be liable for any costs, expenses, damages, liabilities or claims (including reasonable attorneys’ and accountants’ fees) incurred by or asserted against the
Trust, or the Trust on behalf of a Fund, except those costs, expenses, damages, liabilities or claims arising out of BNY Mellon’s own gross negligence, bad faith, willful misfeasance, reckless disregard of its duties hereunder, or breach of any
representation or warranty of BNY Mellon contained in this Agreement. In no event shall either party be liable to the other party or any third party for special, indirect or consequential damages, or lost profits or loss of business, arising under
or in connection with this Agreement, even if previously informed of the possibility of such damages and regardless of the form of action. 

(b) Subject to the limitations set forth in Section 10 below, the Trust and/or each Fund, as applicable, shall indemnify and hold
harmless BNY Mellon from and against any and all costs, expenses, damages, liabilities and claims (including claims asserted by the Trust or a Fund), and reasonable attorneys’ and accountants’ fees relating thereto, which are sustained or
incurred by or which may be asserted by a third party against BNY Mellon, by reason of or as a result of any action taken or omitted to be taken by BNY Mellon in good faith hereunder or in reliance upon (i) the Trust’s Offering Materials
or Documents (excluding information provided 

  
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by BNY Mellon), (ii) any Instructions of an Authorized Person, or, (iii) any opinion of legal counsel for each Fund pursuant to Section 5(h) of this Agreement, or arising out of
transactions or other activities of such Fund which occurred prior to the commencement of this Agreement. Provided, that no Fund shall indemnify BNY Mellon for costs, expenses, damages, liabilities or claims for which BNY Mellon is liable under
preceding subsection 9(a). This indemnity shall be a continuing obligation of the Trust and each Fund, its successors and assigns, notwithstanding the termination of this Agreement. Without limiting the generality of the foregoing, the Trust and/or
each Fund, as applicable, shall indemnify BNY Mellon against and save BNY Mellon harmless from any loss, damage or expense, including reasonable counsel fees and other costs and expenses of a defense against any claim or liability, arising from any
one or more of the following: 
 (i) Errors in records or instructions, explanations, information, specifications or documentation of any
kind, as the case may be, supplied to BNY Mellon by or on behalf of a Fund; 
 (ii) Action or inaction taken or omitted to be taken by BNY
Mellon pursuant to written or oral instructions of the Trust on behalf of the Funds or otherwise carried out by BNY Mellon without gross negligence, bad faith, willful misfeasance or reckless disregard of its duties hereunder; 

(iii) Any action taken or omitted to be taken by BNY Mellon in good faith in accordance with the advice or opinion of counsel for the Trust
or a Fund or its own counsel pursuant to Section 5(h) of this Agreement; 
 (iv) Any improper use by the Trust or a Fund or its
agents, distributor or investment advisor of any valuations or computations supplied by BNY Mellon pursuant to this Agreement; 
 (v) The
method of valuation and the method of computing each Fund’s net asset value to the extent such methods were instructed by a Fund or its agents, directly or by way of its Prospectus; or 

(vi) Any valuations or net asset value provided by a Fund. 

  
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 (c) Actions taken or omitted in reliance on Instructions or upon any information, order,
indenture, stock certificate, membership certificate, power of attorney, assignment, affidavit or other instrument believed by BNY Mellon in good faith to be from an Authorized Person, or upon the opinion of legal counsel for a Fund or its own
counsel, shall be conclusively presumed to have been taken or omitted in good faith. 
 10. Limitation of Liability. 

BNY Mellon agrees that, pursuant to Section 3804(a) of the Delaware Statutory Trust Act, the liabilities of each Fund shall be limited
such that (a) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing and relating to this Agreement with respect to a particular Fund shall be enforceable against the assets of that particular Fund only,
and not against the assets of the Trust generally or the assets of any other Fund and (b) none of the debts, liabilities, obligations and expenses incurred, contracted for, or otherwise existing and relating to this Agreement with respect to
the Trust generally and any other Fund shall be enforceable against the assets of that particular Fund. 
 11. Compensation. 

BNY Mellon is entitled to receive from the Sponsor fees for its ordinary services under this Agreement and reimbursement for its customary and
ordinary out-of-pocket expenses incurred under this Agreement in accordance with a separate written agreement between the Sponsor and BNY Mellon. Each Fund agrees to pay BNY Mellon any compensation due it for extraordinary services as is mutually
agreed to in writing by each Fund and BNY Mellon from time to time. 
 12. Records; Visits. 

(a) The books and records pertaining to the Trust and each Fund which are in the possession or under the control of BNY Mellon shall be the
property of the Trust. The Trust and Authorized Persons shall have access to such books and records at all times during BNY Mellon’s normal business hours. Upon the reasonable request of the Trust, copies of any such books and records shall be
provided by BNY Mellon to the Trust or to an Authorized Person, at the Trust’s expense. 
 (b) BNY Mellon shall keep records relating
to the services to be performed by BNY Mellon hereunder, in the form and manner to the extent required by Section 31 of the Investment 

  
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Company Act of 1940 and the rules thereunder (the “Rules”) as if the Trust was subject to such Rules, and all such books and records shall be property of the Trust, will be preserved,
maintained and made available to the Trust and will be surrendered promptly to the Trust on and in accordance with its reasonable request. 

13. Term of Agreement. 

The term of this Agreement shall be one year commencing upon the date hereof and shall automatically renew for additional one-year terms
unless either party provides written notice of termination at least ninety (90) days prior to the end of any one year term or, unless earlier terminated as provided below: 

(a) Either party hereto may terminate this Agreement in the event the other party breaches any material provision of this Agreement, which
shall include, without limitation, the Trust or the Sponsor’s failure to make payments to BNY Mellon as contemplated by Section 11, provided that the non-breaching party gives written notice of such breach to the breaching party and the
breaching party does not cure such violation within 90 days of receipt of such notice. 
 (b) Either party hereto may terminate this
Agreement immediately by sending notice thereof to the other party upon the happening of any of the following: (i) a party commences as debtor any case or proceeding under any bankruptcy, insolvency or similar law, or there is commenced against
such party any such case or proceeding; (ii) a party commences as debtor any case or proceeding seeking the appointment of a receiver, conservator, trustee, custodian or similar official for such party or any substantial part of its property or
there is commenced against the party any such case or proceeding; (iii) a party makes a general assignment for the benefit of creditors; or (iv) a party states in any medium, written, electronic or otherwise, any public communication or in
any other public manner its inability to pay debts as they come due. Either party hereto may exercise its termination right under this Section 13(b) at any time after the occurrence of any of the foregoing events notwithstanding that such event
may cease to be continuing prior to such exercise, and any delay in exercising this right shall not be construed as a waiver or other extinguishment of that right. 

(c) The Trust may terminate this Agreement at any time upon ninety (90) days’ prior written notice in the event that the Sponsor
determines to liquidate the Trust and terminate its registration with the Securities and Exchange Commission. 

  
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 (d) Should the Trust exercise its right to terminate, all out of pocket expenses associated with
the movement of records and material will be borne by the Trust. 
 (e) The terms of Sections 9 and 10 shall survive any termination of this
Agreement. 
 14. Amendment. 

This Agreement may not be amended, changed or modified in any manner except by a written agreement executed by BNY Mellon and the Trust to be
bound thereby, and authorized or approved by the Trust’s Sponsor. 
 15. Assignment; Subcontracting. 

(a) Neither this Agreement nor any rights or obligations hereunder may be assigned by either party without the written consent of the other
party. 
 (b) This Agreement shall inure to the benefit of and be binding upon the parties, and their respective permitted successors and
assigns. 
 (b) Notwithstanding the foregoing: (i) BNY Mellon may subcontract with, hire, engage or otherwise outsource to any BNY
Mellon Affiliate with respect to the performance of any one or more of the functions, services, duties or obligations of BNY Mellon under this Agreement but any such subcontracting, hiring, engaging or outsourcing shall not relieve BNY Mellon of any
of its responsibilities or liabilities hereunder; (ii) BNY Mellon may subcontract with, hire, engage or otherwise outsource to an unaffiliated third party with respect to the performance of any one or more of the functions, services, duties or
obligations of BNY Mellon under this Agreement but any such subcontracting, hiring, engaging or outsourcing shall (A) require the prior written consent of the Fund and (B) limit BNY Mellon’s liability such that BNY Mellon shall only
be liable for failure to reasonably select such unaffiliated third party, and BNY Mellon shall have no liability for any acts or omissions to act of such unaffiliated third party; and (iii) BNY Mellon, in the course of providing certain
additional services requested by a Fund, including but not limited to, Typesetting or eBoard Book services (“Vendor Eligible Services”) as further described in Schedule I, may in its sole discretion, enter into an agreement or agreements
with a financial printer, or electronic services provider (“Vendor”) to provide BNY Mellon with the ability to generate certain reports or provide 

  
 - 16 - 

 
certain functionality. BNY Mellon shall not be obligated to perform any of the Vendor Eligible Services unless an agreement between BNY Mellon and the Vendor for the provision of such services is
then-currently in effect, and shall only be liable for the failure to reasonably select the Vendor. Upon request, BNY Mellon will disclose the identity of the Vendor and the status of the contractual relationship, and a Fund is free to attempt to
contract directly with the Vendor for the provision of the Vendor Eligible Services. 
 (c) As compensation for the Vendor Eligible Services
rendered by BNY Mellon pursuant to this Agreement, the Sponsor will pay to BNY Mellon such fees as may be agreed to in writing by the Sponsor and BNY Mellon. In turn, BNY Mellon will be responsible for paying the Vendor’s fees. For the
avoidance of doubt, BNY Mellon anticipates that the fees it charges hereunder will be more than the fees charged to it by the Vendor, and BNY Mellon will retain the difference between the amount paid to BNY Mellon hereunder and the fees BNY Mellon
pays to the Vendor as compensation for the additional services provided by BNY Mellon in the course of making the Vendor Eligible Services available to the Trust. 

16. Governing Law; Consent to Jurisdiction. 

This Agreement shall be construed in accordance with the laws of the State of New York, without regard to conflict of laws principles thereof.
Each Fund hereby consents to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising hereunder, and waives to the fullest extent permitted by law its right to a trial by jury. To the
extent that in any jurisdiction any Fund may now or hereafter be entitled to claim, for itself or its assets, immunity from suit, execution, attachment (before or after judgment) or other legal process, such Fund irrevocably agrees not to claim, and
it hereby waives, such immunity. 
 17. Severability. 

In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations shall not in any way be affected or impaired thereby, and if any provision is inapplicable to any person or circumstances, it shall nevertheless remain applicable to all other
persons and circumstances. 

  
 - 17 - 

 18. No Waiver. 

Each and every right granted to BNY Mellon hereunder or under any other document delivered hereunder or in connection herewith, or allowed it
by law or equity, shall be cumulative and may be exercised from time to time. No failure on the part of BNY Mellon to exercise, and no delay in exercising, any right will operate as a waiver thereof, nor will any single or partial exercise by BNY
Mellon of any right preclude any other or future exercise thereof or the exercise of any other right. 
 19. Notices. 

All notices, requests, consents and other communications pursuant to this Agreement in writing shall be sent as follows: 

if to the Trust, at 
 World
Currency Gold Trust 
 c/o WGC USA Asset Management Company, LLC 

685 Third Avenue, 27th Floor 
 New
York, New York 10017, United States of America 
 if to BNY Mellon, at 

BNY Mellon 
 2 Hanson Place 

Brooklyn, NY 11217 
 Attention:
ETF Operations 
 with a copy to: 

The Bank of New York Mellon 
 225
Liberty Street 
 New York, New York 10286 

Attention: Legal Dept.—Asset Servicing 
 or
at such other place as may from time to time be designated in writing. Notices hereunder shall be effective upon receipt. 
 20.
Counterparts. 
 This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original; but
such counterparts together shall constitute only one instrument. 

  
 - 18 - 

 21. Several Obligations. 

The parties acknowledge that the obligations of the Funds hereunder are several and not joint, that no Fund shall be liable for any amount
owing by another Fund and that the Funds have executed one instrument for convenience only. 
 22. Confidentiality. 

(a) Each party shall keep confidential any information relating to the other party’s business (“Confidential Information”).
Confidential Information shall include (a) any data or information that is competitively sensitive material, and not generally known to the public, including, but not limited to, information about product plans, marketing strategies, finances,
operations, customer relationships, customer profiles, customer lists, sales estimates, business plans, and internal performance results relating to the past, present or future business activities of a Fund or BNY Mellon and their respective
subsidiaries and affiliated companies; (b) any scientific or technical information, design, process, procedure, formula, or improvement that is commercially valuable and secret in the sense that its confidentiality affords a Fund or BNY Mellon
a competitive advantage over its competitors; (c) all confidential or proprietary concepts, documentation, reports, data, specifications, computer software, source code, object code, flow charts, databases, inventions, know-how, and trade secrets, whether or not patentable or copyrightable; and (d) anything designated as confidential. Notwithstanding the foregoing, information shall not be Confidential Information and shall
not be subject to such confidentiality obligations if it: (a) is already known to the receiving party at the time it is obtained; (b) is or becomes publicly known or available through no wrongful act of the receiving party; (c) is
rightfully received from a third party who, to the best of the receiving party’s knowledge, is not under a duty of confidentiality; (d) is released by the protected party to a third party without restriction; (e) is requested or
required to be disclosed by the receiving party pursuant to a court order, subpoena, governmental or regulatory agency request or law; (f) is relevant to the defense of any claim or cause of action asserted against the receiving party;
(g) is Fund information provided by BNY Mellon in connection with an independent third party compliance or other review; (h) is released in connection with the provision of services under this Agreement; or (i) has been or is
independently developed or obtained by the receiving party. The provisions of this Section 22 shall survive termination of this Agreement for a period of one (1) year after such termination. 

  
 - 19 - 

 (b) The Bank of New York Mellon Corporation is a global financial organization that provides
services to clients through its affiliates and subsidiaries in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may centralize functions including audit, accounting, risk, legal, compliance, sales, administration,
product communication, relationship management, storage, compilation and analysis of customer-related data, and other functions (the “Centralized Functions”) in one or more affiliates, subsidiaries and third-party service providers. Solely
in connection with the Centralized Functions, (i) the Fund consents to the disclosure of and authorizes BNY Mellon to disclose information regarding the Fund (“Customer-Related Data”) to the BNY Mellon Group and to its third-party
service providers who are subject to confidentiality obligations with respect to such information and (ii) BNY Mellon may store the names and business contact information of the Fund’s employees and representatives on the systems or in the
records of the BNY Mellon Group or its service providers. The BNY Mellon Group may aggregate Customer-Related Data with other data collected and/or calculated by the BNY Mellon Group, and notwithstanding anything in this Agreement to the contrary
the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Customer-Related Data with a particular customer. The Fund confirms that it is authorized
to consent to the foregoing. 

  
 - 20 - 

 IN WITNESS WHEREOF, the parties hereto have caused the foregoing instrument to be executed
by their duly authorized officers and their seals to be hereunto affixed, all as of the latest date set forth below. 
 WORLD CURRENCY GOLD
TRUST, ON 
 BEHALF OF EACH FUND LISTED ON 

APPENDIX A 

By: /s/ Gregory S.
Collett                                     

Name: Gregory S.
Collett                         

Title: Vice President* 

Date: 1.3.17 

* Authorized to sign on behalf of the Trust in 

   this capacity since an officer of the Trust’s 

   sponsor 

THE BANK OF NEW YORK MELLON 

By: /s/ Stephen
Cook                                         
    
 Name: Stephen Cook 

Title: Managing Director 

Date: 1/5/2017 
  

 

  
 - 21 - 

 EXHIBIT A 

Funds 
 SPDR® Long Dollar Gold Trust 
 SPDR® Euro Gold
Trust 
 SPDR® Pound Gold Trust 

SPDR® Yen Gold Trust 

 EXHIBIT B 

I, [Name]                     , of
        [Fund Name]         , a [State] [corporation/trust] (the “Fund”), do hereby certify that: 

The following individuals serve in the following positions with the Trust, and each has been duly elected or appointed by the Trust to each
such position and qualified therefor in conformity with the Trust’s Organizational Documents, and the signatures set forth opposite their respective names are their true and correct signatures. Each such person is designated as an Authorized
Person under the Fund Administration and Accounting Agreement dated as of                 , 201    , between the Trust and The Bank of New York
Mellon. 
  

					
	Name	  	Position	  	Signature
		  		  	
		  		  	
		  		  	
	  
	  	  
	  	  

  
 - 2 - 

 SCHEDULE I 

Schedule of Services 
 All
services provided in this Schedule of Services are subject to the review and approval of the appropriate Fund officers, Fund counsel and accountants of each Fund, as may be applicable. The services included on this Schedule of Services may be
provided by BNY Mellon or a BNY Mellon Affiliate, collectively referred to herein as “BNY Mellon”. 
 VALUATION AND COMPUTATION ACCOUNTING
SERVICES 
  
 BNY Mellon shall provide the following valuation and
computation accounting services for each Fund: 
  

	 	•	 	Journalize investment, capital share and income and expense activities; 

  

	 	•	 	Maintain individual ledgers for Fund assets 

  

	 	•	 	Maintain certain financial books and records for each Fund, including creation and redemption books and records, Fund accounting records, and books and records regarding Gold transfers under the Funds’ Gold
Delivery Agreement;; 

  

	 	•	 	Maintain historical tax lots for Fund assets; 

  

	 	•	 	Reconcile cash and investment balances of each Fund with the Fund’s custodian and provide each Fund’s Sponsor, as applicable, with the beginning cash balance available for investment purposes upon request;

  

	 	•	 	Calculate various contractual expenses; 

  

	 	•	 	Calculate capital gains and losses; 

  

	 	•	 	Calculate daily distribution rate per share; 

  

	 	•	 	Determine net income; 

  

	 	•	 	Obtain Gold quotes, Reference Currency quotes and currency exchange rates from pricing services approved by a Fund’s Sponsor, or if such quotes are unavailable, then obtain such prices from the Fund’s Sponsor,
and in either case, calculate the market value of each Fund’s investments in accordance with the Fund’s valuation policies or guidelines; provided, however, that BNY Mellon shall not under any circumstances be under a duty to independently
price or value any of the Fund’s investments itself or to confirm or validate any information or valuation provided by the Sponsor or any other pricing source, nor shall BNY Mellon have any liability relating to inaccuracies or otherwise with
respect to such information or valuations; 

  

	 	•	 	Compute net asset value, calculated in the manner described in the Funds’ Offering Materials; 

  

	 	•	 	Such net asset value reports and statements shall be provided to the Fund by 12:00 p.m. New York time and to Authorized Participants by 12:00 p.m. New York time, in each case by such means as BNY Mellon and the Fund may
agree upon from time to time. 

  

	 	•	 	Transmit or make available a copy of the daily portfolio valuation to a Fund’s Sponsor; and 

  

	 	•	 	Publish basket to NSCC on each day on which trading occurs on the applicable securities exchange where the Fund is traded; and 

  

	 	•	 	Compute portfolio returns. 

 FINANCIAL REPORTING 

BNY Mellon shall provide the following financial reporting services for each Fund: 

	 	•	 	Financial Statement Preparation & Review 

  

	 	•	 	Prepare financial statements for each Fund; 

  

	 	•	 	Prepare the Fund’s periodic shareholder reports as required pursuant to the Securities Exchange Act of 1934 as requested by the Fund; and 

 

	 	•	 	Prepare, circulate and maintain the Fund’s financial reporting production calendar. 

  

	 	•	 	Typesetting Services 

  

	 	•	 	Create financial compositions for the applicable financial report and related EDGAR files; 

  

	 	•	 	Maintain country codes, industry class codes, security class codes and state codes; 

  

	 	•	 	Map individual general ledger accounts into master accounts to be displayed in the applicable financial reports; 

  

	 	•	 	Create components that will specify the proper grouping and sorting for display of portfolio information; 

  

	 	•	 	Create components that will specify the proper calculation and display of financial data required for each applicable financial report (except for identified manual entries, which BNY Mellon will enter);

  

	 	•	 	Process, convert and load security and general ledger data; 

  

	 	•	 	Include data in financial reports provided from external parties to BNY Mellon which, includes, but is not limited to: Forms 10-Q, 10-K and S-1, shareholder letters, “Management Discussion and Analysis”
commentary, notes on performance, notes to financials, report of independent auditors, Fund management listing, service providers listing and Fund spectrums; 

  

	 	•	 	Document publishing, including the output of print-ready PDF files and EDGAR html files (such EDGAR html files will be limited to one per the applicable financial report and unless mutually agreed to in writing between
BNY Mellon and a Fund, BNY Mellon will use the same layout for production data for every successive reporting period); 

  

	 	•	 	Generate financial reports using the Vendor’s capabilities which include the following: 

  

	 	•	 	front/back cover; 

  

	 	•	 	table of contents; 

  

	 	•	 	shareholder letter; 

  

	 	•	 	Management Discussion and Analysis commentary; 

  

	 	•	 	sector weighting graphs/tables; 

  

	 	•	 	disclosure of Fund expenses; 

  

	 	•	 	schedules of investments; 

  

	 	•	 	statement of net assets; 

  

	 	•	 	statements of assets and liabilities; 

  

	 	•	 	statements of operation; 

  

	 	•	 	statements of changes; 

  

	 	•	 	statements of cash flows; 

  

	 	•	 	financial highlights; 

  

	 	•	 	notes to financial statements; 

  

	 	•	 	report of independent registered public accounting firm; 

  

	 	•	 	tax information; and 

  
 - 4 - 

	 	•	 	additional Fund information as mutually agreed in writing between BNY Mellon and a Fund. 

  

	 	•	 	Unless mutually agreed in writing between BNY Mellon and a Fund, BNY Mellon will use the same layout and format for every successive reporting period for the typeset reports. At the request of a Fund and upon the mutual
written agreement of BNY Mellon and the Fund as to the scope of any changes and additional compensation of BNY Mellon, BNY Mellon will, or will cause the Vendor to change format or layout of reports from time to time. 

TAX SERVICES 
 BNY Mellon shall
provide the following tax services for each Fund: 
  

	 	•	 	Tax Provision Preparation 

  

	 	•	 	Prepare fiscal year-end tax provision analysis; 

  

	 	•	 	Process tax adjustments on securities identified by a Fund that require such treatment; 

  

	 	•	 	Prepare ROCSOP adjusting entries; and 

  

	 	•	 	Prepare financial statement footnote disclosures. 

  

	 	•	 	Tax Distributions Calculations 

  

	 	•	 	Prepare calendar year tax distribution analysis; 

  

	 	•	 	Process tax adjustments on securities identified by a Fund that require such treatment; and 

  

	 	•	 	Prepare annual tax-based distribution estimate for each Fund. 

  

	 	•	 	Other Tax Services 

  

	 	•	 	Prepare for execution and filing, the federal and state income and excise tax returns; 

  

	 	•	 	Prepare year-end broker/dealer reporting and prepare fund distribution calculations disseminated to broker/dealers; and 

  

	 	•	 	Coordinate U.S.C. Title 26 Internal Revenue Code (“IRC”) §855 and excise tax distribution requirements. 

  

	 	•	 	Uncertain Tax Provisions 

  

	 	•	 	Documentation of all material tax positions taken by a Fund with respect to specified fiscal years and identified to BNY Mellon (“Tax Positions”); 

 

	 	•	 	Review of a Fund’s: (i) tax provision work papers, (ii) excise tax distribution work papers, (iii) income and excise tax returns, (iv) tax policies and procedures, and (v) Subchapter M
compliance work papers; 

  

	 	•	 	Determine as to whether or not Tax Positions have been consistently applied, and documentation of any inconsistencies; 

  

	 	•	 	Review relevant statutory authorities; 

  

	 	•	 	Review tax opinions and legal memoranda prepared by tax counsel or tax auditors to a Fund; 

  
 - 5 - 

	 	•	 	Review standard mutual fund industry practices, to the extent such practices are known to, or may reasonably be determined by, BNY Mellon; and 

 

	 	•	 	Delivery of a written report to the applicable Fund detailing such items. 

 IRS CIRCULAR 230
DISCLOSURE: 
 To ensure compliance with requirements imposed by the Internal Revenue Service, BNY Mellon informs the Trust
that any U.S. tax advice contained in any communication from BNY Mellon to the Trust (including any future communications) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal
Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein or therein. 
 FUND
ADMINISTRATION SERVICES 
 BNY Mellon shall provide the following fund administration services for each Fund: 

 

	 	•	 	In accordance with Instructions received from a Fund, and subject to portfolio limitations as provided by such Fund to BNY Mellon in writing from time to time, monitor Gold transfers under the Gold Delivery Agreement,
such Fund’s compliance, on a post-trade basis, with such portfolio limitations, provided that BNY Mellon maintains in the normal course of its business all data necessary to measure the Fund’s compliance; 

 

	 	•	 	Establish appropriate expense accruals and compute expense ratios, maintain expense files and coordinate the payment of Fund approved invoices; 

 

	 	•	 	Calculate Fund approved income and per share amounts required for periodic distributions to be made by the applicable Fund; 

  

	 	•	 	Calculate total return information; 

  

	 	•	 	Coordinate a Fund’s annual audit; 

  

	 	•	 	Supply various normal and customary portfolio and Fund statistical data as requested on an ongoing basis; and 

  

	 	•	 	Provide sub-certification in support of certain matters set forth in the aforementioned certification. Such sub-certification is to be in such form and relating to such matters as agreed to by BNY Mellon in advance. BNY
Mellon shall be required to provide the sub-certification only during the term of the Agreement and only if it receives such cooperation as it may request to perform its investigations with respect to the sub-certification. For clarity, the
sub-certification is not itself a certification under the Sarbanes-Oxley Act of 2002 or under any other law, rule or regulation. 

REGULATORY ADMINISTRATION SERVICES 

BNY Mellon shall provide the following regulatory administration services for each Fund: 

  
 - 6 - 

	 	•	 	Maintain a regulatory calendar for each Fund listing various SEC filing approval deadlines; 

  

	 	•	 	Prepare and coordinate the filing of annual post-effective amendments to a Fund’s registration statement (not including the initial registration statement or related to the addition of one or more classes of shares
or series); 

  

	 	•	 	Assist the Fund in the handling of SEC examinations by providing requested documents in the possession of BNY Mellon that are on the SEC examination request list; and 

 

	 	•	 	Assist in the preparation of notices of annual or special meetings of shareholders and proxy materials relating to such meetings. 

  
 - 7 -EX-10.5

 Exhibit 10.5 
  

 
 Execution Copy 

TRANSFER AGENCY AND SERVICE AGREEMENT 

THIS AGREEMENT is made as of the 5th day of January, 2017, by and between World Currency
Gold Trust (the “Trust”), a Delaware statutory trust organized in series, having its principal office and place of business at 685 Third Avenue, 27th Floor, New York, New York 10017, on
behalf of each of its series (each, a “Fund” and collectively, the “Funds”) as listed on Appendix A hereto (as such Appendix be amended from time to time) and THE BANK OF NEW YORK MELLON, a New York corporation authorized to do a
banking business having its principal office and place of business at One Wall Street, New York, New York 10286 (the “Bank”). 

WHEREAS, the Trust, on behalf of each Fund, will ordinarily issue for purchase and redeem shares of each Fund (the “Shares) only in
aggregations of Shares known as “Creation Units” (typically 25,000 shares) (each a “Creation Unit”) principally in kind; 

WHEREAS, The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York (“DTC”), or
its nominee (Cede & Co.), will be the registered owner (the “Shareholder”) of all Shares; and 
 WHEREAS, the Trust, on
behalf of each Fund, desires to appoint the Bank as its transfer agent, dividend disbursing agent, and agent in connection with certain other activities, and the Bank desires to accept such appointment. 

NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties hereto agree as follows: 

1. Terms of Appointment; Duties of the Bank 

1.1 Subject to the terms and conditions set forth in this Agreement, the Trust, on behalf of each Fund, hereby employs and appoints the Bank
to act as, and the Bank agrees to act as, its transfer agent for the authorized and issued Shares, and as the Trust’s dividend disbursing agent. 

1.2 Pursuant to such appointment, the Bank agrees that it will perform the following services: 

(a) In accordance with the terms and conditions of this Agreement and the Participant Agreements applicable to each Fund, a form of which is
attached hereto as Exhibit A, the Bank shall: 
 (i) Perform and facilitate the performance of purchases and redemption of Creation Units
for each Fund; 
 (ii) Prepare and transmit by means of DTC’s book-entry system payments for
dividends and distributions, if any, declared by each Fund; 
 (iii) Maintain separate and distinct records for each Fund with respect to
the name and address of the Shareholder and the number of Shares issued by each respective Fund and held by the Shareholder in each Fund; 

(iv) With respect to each Fund, record, separately and distinctly, the issuance of Shares of each Fund and maintain a record of the total
number of Shares of each Fund which are outstanding and authorized based upon data provided to it by the Trust. The Bank shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares or to take cognizance of
any laws relating to the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust. 

 (v) Prepare and transmit to the Trust and the Trust’s administrator and to any applicable
securities exchange (as specified to the Bank by the Trust or its administrator), with respect to each Fund, information with respect to purchases and redemptions of Shares of each Fund; 

(vi) On days that the Trust, on behalf of each Fund, may accept orders for purchases or redemptions, calculate and transmit to the
Trust’s sponsor (“Sponsor”) and the Trust’s administrator, on behalf of the applicable Fund(s), the number of outstanding Shares; 

(vii) On days that the Trust, on behalf of each Fund, may accept orders for purchases or redemptions (pursuant to the Participant Agreement),
transmit to the Trust on behalf of the applicable Fund(s) and DTC the amount of Shares purchased on such day; 
 (viii) Confirm to DTC the
number of Shares issued to the Shareholder, with respect to each Fund, as DTC may reasonably request; 
 (ix) Prepare and deliver other
reports, information and documents to DTC as DTC may reasonably request; 
 (x) Extend the voting rights to the Shareholder for extension
by DTC to DTC participants and the beneficial owners of Shares in accordance with policies and procedures of DTC for book-entry only securities; 

(xi) Distribute or maintain, as directed by the Trust, amounts related to purchases and redemptions of Creation Units and dividends and
distributions, if any; 
 (xii) Maintain separate and distinct books and records for each Fund as specified by the Trust, on behalf of each
Fund; 
 (xiii) Prepare a monthly report of all purchases and redemptions of Shares during such month on a gross transaction basis, and
identify on a daily basis the net number of Shares either redeemed or purchased on such Business Day and with respect to each Authorized Participant (as defined in each Participant Agreement) purchasing or redeeming Shares, the amount of Shares
purchased or redeemed; 
 (xiv) Receive purchase orders from Authorized Participants (as defined in the Participant Agreement) for Creation
Unit Aggregations of Shares received in good form and accepted by or on behalf of the Trust, transmit appropriate trade instructions to the National Securities Clearance Corporation, if applicable, and pursuant to such orders issue the appropriate
number of Shares of the Trust and hold such Shares in the account of the Shareholder for each of the respective Trusts; 
 (xv) Receive
from the Authorized Participants redemption requests, deliver the appropriate documentation thereof to The Bank of New York as custodian for the Trust, generate and transmit or cause to be generated and transmitted confirmation of receipt of such
redemption requests to the Authorized Participants submitting the same; transmit appropriate trade instructions to the National Securities Clearance Corporation, if applicable, and redeem the appropriate number of Creation Unit Aggregations of
Shares held in the account of the Shareholder; and 

  
 2 

 (xvi) Confirm the name, U.S taxpayer identification number and principle place of business of
each Authorized Participant. 
 (xvii) The Bank may execute transactions directly with Authorized Participants to the extent necessary or
appropriate to enable the Bank to carry out any of the duties set forth in items (i) through (xvi) above. 
 (xviii) Except as
otherwise instructed by the Trust, the Bank shall process all transactions for each Fund in accordance with the policies and procedures mutually agreed upon between the Trust and the Bank with respect to the proper net asset value to be applied to
purchases received in good order by the Bank or from an Authorized Participant before any cut-offs established by the Trust, and such other matters set forth in items (i) through (xvi) above as these policies and procedures are intended to
address. 
 (b) The Bank may maintain and manage, as agent for the Trust, such accounts as the Bank shall deem necessary for the performance
of its duties under this Agreement, including, but not limited to, the processing of Creation Unit purchases and redemptions; and the payment of dividends and distributions. The Bank may maintain such accounts at financial institutions deemed
appropriate by the Bank in accordance with applicable law. 
 (c) In addition to and neither in lieu nor in contravention of the services
set forth in the above sub-section 1.2(a), the Bank shall: perform the customary services of a transfer agent and dividend disbursing agent including, but not limited to, maintaining the account of the Shareholder with respect to each Fund,
obtaining a list of DTC participants holding interests in a Fund’s global certificate at the request of the Trust, mailing proxy materials, shareholder reports and prospectuses to DTC, at the request of the Trust, maintaining the items set
forth on Schedule A attached hereto, and performing such services identified in each Participant Agreement. 
 (d) The following shall be
delivered to DTC participants as identified by DTC as the Shareholder for book-entry only securities: 
 (i) Periodic reports of the Trust
required under the Securities Exchange Act of 1934, as amended; 
 (ii) Proxies, proxy statements and other proxy soliciting materials;

 (iii) Prospectus and amendments and supplements thereto, including stickers; and 

(iv) Other communications as the Trust may from time to time identify as required by law or as the Trust may reasonably request 

(v) The Bank shall provide additional services, if any, as may be agreed upon in writing by the Trust and the Bank. 

(e) The Bank shall keep records relating to the services to be performed by the Bank hereunder, in the form and manner to the extent required
by Section 31 of the Investment Company Act of 1940 and the rules thereunder (the “Rules”) as if the Trust was subject to such Rules, and all such books and records shall be property of the Trust, will be preserved, maintained and
made available to the Trust and will be surrendered promptly to the Trust on and in accordance with its request. 

  
 3 

 2. Fees and Expenses 

2.1 The Bank is entitled to receive from the Sponsor fees for its ordinary services under this Agreement and reimbursement for its customary
and ordinary out-of-pocket expenses incurred under this Agreement in accordance with a separate written agreement between the Sponsor and the Bank. Each Fund agrees to pay the Bank any compensation due it for extraordinary services as is mutually
agreed to in writing by each Fund and the Bank from time to time. 
 2.2 The Trust hereby represents and warrants to the Bank that
(i) the terms of this Agreement, (ii) the fees and expenses associated with this Agreement, and (iii) any benefits accruing to the Bank or to the adviser to, or sponsor of, the Trust in connection with this Agreement, including, but
not limited to, any fee waivers, reimbursements, or payments made, or to be made, by the Bank to such adviser or sponsor or to any affiliate of the Trust relating to this Agreement have been fully disclosed to the Trust or the Trust’s sponsor
and that, if required by applicable law, the Trust or the Trust’s sponsor has approved or will approve the terms of this Agreement, and any such fees, expenses, and benefits. 

3. Representations and Warranties of the Bank 

The Bank represents and warrants to the Trust that: 

It is a banking company duly organized and existing and in good standing under the laws of the State of New York. 

It is duly qualified to carry on its business in the State of New York. 

It is empowered under applicable laws and by its Charter and By-Laws to act as transfer agent and dividend disbursing agent and to enter into,
and perform its obligations under, this Agreement. 
 All requisite corporate proceedings have been taken to authorize it to enter into and
perform this Agreement. 
 It has and will continue to have access to the necessary facilities, equipment and personnel to perform its
duties and obligations under this Agreement. 
 4. Representations and Warranties of the Trust 

The Trust represents and warrants to the Bank that: 

It is duly organized and existing and in good standing under the laws of Delaware. 

It is empowered under applicable laws and by its Agreement and Declaration of Trust to enter into and perform this Agreement. 

A registration statement under the Securities Act of 1933, as amended, on behalf of the Trust and each Fund has been filed with the U.S.
Securities and Exchange Commission, and appropriate state securities law filings have been made and will continue to be made, with respect to all Shares of the Funds being offered for sale. 

5. Indemnification 
 5.1 The Bank shall
not be responsible for, and the Trust shall indemnify and hold the Bank and its directors, officers and employees, or persons performing similar functions on behalf of the Bank, 

  
 4 

 
harmless from and against, any and all damages, costs, expenses, liabilities or claims (including reasonable attorneys’ and accountants’ fees) (“Losses”) which may be
sustained or incurred or which may be asserted against the Bank in connection with or relating to this Agreement or the Bank’s actions or omissions with respect to this Agreement, arising out of or attributable to all actions of the Bank taken
pursuant to this Agreement, provided that such actions are taken without; 
 (a) The Bank’s own gross negligence, bad faith, willful
misfeasance, reckless disregard of its duties hereunder; or 
 (b) The breach of any representation or warranty of the Bank contained in
this Agreement. 
 5.2 Neither the Trust nor any Fund shall be responsible for, and the Bank shall indemnify and hold the Trust, its and its
directors, officers, and employees, or persons performing similar functions on behalf of the Trust or the Fund, and the applicable Fund harmless from and against, any and all Losses caused by; 

(a) The Bank’s own gross negligence, bad faith, willful misfeasance, reckless disregard of its duties hereunder; or 

(b) The breach of any representation or warranty of the Bank contained in this Agreement. 

5.3 A party seeking indemnification hereunder (the “Indemnified Party”) shall (i) provide prompt notice to the other party of
any claim (“Claim”) for which it intends to seek indemnification, (ii) grant control of the defense and for settlement of the Claim to the other party, and (iii) cooperate with the other party in the defense thereof. The
Indemnified Party shall have the right at its own expense to participate in the defense of any Claim, but shall not have the right to control the defense, consent to judgment or agree to the settlement of any Claim without the written consent of the
other party. The party providing the indemnification shall not consent to the entry of any judgment or enter any settlement which (i) does not include, as an unconditional term, the release by the claimant of all liabilities for Claims against
the Indemnified Party or (ii) which otherwise adversely affects the rights of the Indemnified Party. 
 6. Standard of Care and Limitation of
Liability 
 6.1 The Bank shall exercise reasonable care and diligence in carrying out all of its duties and obligations under this
Agreement. The Bank shall have no responsibility and shall not be liable for any Losses, except that the Bank shall be liable to the Trust for direct money damages caused by its own gross negligence, bad faith, willful misfeasance, reckless
disregard of its duties hereunder or that of its employees, or its breach of any representation or warranty of the Bank contained in this Agreement. In no event will the Bank be liable for: 

(a) Special, indirect or consequential damages, regardless of the form of action and even if the same were foreseeable. 

(b) The conclusive good faith reliance on or use by the Bank or its agents or subcontractors of information, records, documents or services
which (i) are received by the Bank or its agents or subcontractors, and (ii) have been prepared, maintained or performed by the Trust or any other person or firm on behalf of the Trust including but not limited to any previous transfer
agent or registrar. 

  
 5 

 (c) The conclusive good faith reliance on, or the carrying out by the Bank or its agents or
subcontractors of, any instructions or requests of the Trust or instructions or requests on behalf of the Trust. 
 (d) The offer or
sale of Shares by or for the Trust in violation of any requirement under the federal securities laws or regulations, or the securities laws or regulations of any state that such Shares be registered in such state, or any violation of any stop order
or other determination or ruling by any federal agency, or by any state with respect to the offer or sale of Shares in such state. 
 6.2 In
no event will the Trust or any Fund be liable for special, indirect or consequential damages, regardless of the form of action and even if the same were foreseeable. 

6.3 The Bank agrees that, pursuant to Section 3804(a) of the Delaware Statutory Trust Act, the liabilities of each Fund shall be limited
such that (a) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing and relating to this Agreement with respect to a particular Fund shall be enforceable against the assets of that particular Fund only,
and not against the assets of the Trust generally or the assets of any other Fund and (b) none of the debts, liabilities, obligations and expenses incurred, contracted for, other otherwise existing and relating to this Agreement with respect to
the Trust generally and any other Fund shall be enforceable against the assets of that particular Fund. 
 6.4 It is expressly acknowledged
and agreed that the obligations of each Fund hereunder shall not be binding upon any shareholder, Sponsor, officer, employee or agent of such Fund, personally. This Agreement has been duly authorized, executed and delivered by each Fund and neither
such authorization nor such execution and delivery shall be deemed to have been made by any of them individually or to impose any liability on any of them personally. 

7. Concerning the Bank 
 7.1 Upon receipt
of the Trust’s prior written consent (which shall not be unreasonably withheld), the Bank may delegate any of its duties and obligations hereunder to any delegee or agent whenever and on such terms and conditions as it deems reasonably
necessary or appropriate, provided that such delegee or agent is qualified to perform such delegated duties; provided, however, that no such delegation of its duties and obligations hereunder shall discharge the Bank from any of its obligations or
any liability hereunder. Notwithstanding the foregoing, Trust consent shall not be required for any such delegation to any other subsidiary of The Bank of New York Mellon Corporation, and the Bank shall be liable for the acts or omissions of any
such affiliate as if such act or omissions were its own. 
 7.2 The Bank shall be entitled to conclusively rely upon any written or oral
instruction actually received by the Bank and reasonably believed by the Bank to be duly authorized and delivered. The Trust agrees to forward to the Bank written instructions confirming oral instructions by the close of business of the same day
that such oral instructions are given to the Bank. The Trust agrees that the fact that such confirming written instructions are not received or that contrary written instructions are received by the Bank shall in no way affect the validity or
enforceability of transactions authorized by such oral instructions and effected by the Bank. 
 7.3 The Bank shall establish and maintain a
disaster recovery plan and back-up system at all times satisfying the requirements of all laws, rules, and regulations applicable to the Bank and which is reasonable under the circumstance (the “Disaster Recovery Plan and Back-Up System”).
The Bank shall not be responsible or liable for any failure or delay in the performance of its obligations under this Agreement arising out of or caused, directly or indirectly, by circumstances beyond its control which are not a result of its gross
negligence, including without limitation, acts of God; earthquakes; fires; floods; 

  
 6 

 
wars; civil or military disturbances; sabotage; epidemics; riots; interruption, loss or malfunctions of transportation, computer (hardware or software) or communication services; labor disputes;
acts of civil or military authority; governmental actions; or inability to obtain labor, material, equipment or transportation, provided that the Bank has established and is maintaining the Disaster Recovery Plan and Back-Up System, or if not, that
such delay or failure would have occurred even if the Bank had established and was maintaining the Disaster Recovery Plan and Back-Up System. Upon the occurrence of any such delay or failure the Bank shall use commercially reasonable best efforts to
resume performance as soon as practicable under the circumstances. 
 7.4 The Bank shall have no duties or responsibilities whatsoever
except such duties and responsibilities as are specifically set forth in this Agreement and the Participation Agreement, and no covenant or obligation shall be implied against the Bank in connection with this Agreement, except as set forth in this
Agreement and the Participation Agreement. 
 7.5 At any time the Bank may apply to an officer of the Trust for written instructions with
respect to any Fund and to the Trust or any matter arising in connection with the Bank’s duties and obligations under this Agreement, and the Bank, its agents, and subcontractors shall not be liable for any action taken or omitted to be taken
in good faith in accordance with such instructions. Such application by the Bank for instructions from an officer of the Trust may, at the option of the Bank, set forth in writing any action proposed to be taken or omitted to be taken by the Bank
with respect to its duties or obligations under this Agreement and the date on and/or after which such action shall be taken, and the Bank shall not be liable for any action taken or omitted to be taken in good faith in accordance with a proposal
included in any such application on or after the date specified therein unless, prior to taking or omitting to take any such action, the Bank has received written or oral instructions in response to such application specifying the action to be taken
or omitted. 
 7.6 The Bank, its agents and subcontractors may act upon any paper or document, reasonably believed to be genuine and to have
been signed by the proper person or persons, or upon any instruction, information, data, records or documents provided to the Bank or its agents or subcontractors by or on behalf of the Trust by machine readable input, telex, CRT data entry or other
similar means authorized by the Trust, and shall not be held to have notice of any change of authority of any person, until receipt of written notice thereof from the Trust. 

7.7 The Bank shall retain title to and ownership of any and all data bases, computer programs, screen formats, report formats, interactive
design techniques, derivative works, inventions, discoveries, patentable or copyrightable matters, concepts, expertise, patents, copyrights, trade secrets, and other related legal rights utilized by the Bank in connection with the services provided
by the Bank hereunder. Notwithstanding the foregoing, the parties hereto acknowledge that the Trust shall retain all ownership rights in Trust data residing on the Bank’s electronic system. 

7.8 Notwithstanding any provisions of this Agreement to the contrary, the Bank shall be under no duty or obligation to inquire into, and shall
not be liable for: 
 (a) The legality of the issue, sale or transfer of any Shares of a Fund, the sufficiency of the amount to be received
in connection therewith, or the authority of the Trust, on behalf of a Fund, to request such issuance, sale or transfer; 
 (b) The legality
of the purchase of any Shares of a Fund, the sufficiency of the amount to be paid in connection therewith, or the authority of the Trust, on behalf of a Fund, to request such purchase; 

  
 7 

 (c) The legality of the declaration of any dividend by the Trust, on behalf of a Fund, or the
legality of the issue of any Shares in payment of any stock dividend; or 
 (d) The legality of any recapitalization or readjustment of the
Shares of any Fund. 
 8. Providing of Documents by the Trust and Transfers of Shares 

8.1 The Trust shall promptly furnish to the Bank with a copy of its Declaration of Trust and all amendments thereto. 

8.2 In the event that DTC ceases to be the Shareholder, the Bank shall re-register the Shares in the name of the successor to DTC as
Shareholder upon receipt by the Bank of such documentation and assurances as it may reasonably require. 
 8.3 The Bank shall have no
responsibility whatsoever with respect to of any beneficial interest in any of the Shares owned by the Shareholder. 
 8.4 The Trust shall
deliver to the Bank the following documents on or before the effective date of any increase, decrease or other change in the total number of Shares authorized to be issued: 

(a) A certified copy of the amendment to the Trust’s Declaration of Trust with respect to such increase, decrease or change; and 

(b) An opinion of counsel for the Trust, in a form satisfactory to the Bank, with respect to (i) the validity of the Shares, the
obtaining of all necessary governmental consents, whether such Shares are fully paid and non-assessable and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or regulations (i.e., if
subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefore), and (ii) the due and proper listing of the Shares on all applicable securities
exchanges. 
 8.5 The Bank agrees that all records prepared or maintained by the Bank relating to the services to be performed by the Bank
hereunder are the property of the Trust and will be preserved, maintained and made available upon reasonable request and will be surrendered promptly to the Trust on and in accordance with its reasonable request. 

8.6 Prior to the issuance of any additional Shares pursuant to stock dividends, stock splits or otherwise, and prior to any reduction in the
number of Shares outstanding, the Trust shall deliver to the Bank: 
 (a) A certified copy of the order or consent of each governmental or
regulatory authority required by law as a prerequisite to the issuance or reduction of such Shares, as the case may be, and an opinion of counsel for the Trust that no other order or consent is required; and 

(b) An opinion of counsel for the Trust, in a form satisfactory to the Bank, with respect to (i) the validity of the Shares, the
obtaining of all necessary governmental consents, whether such Shares are fully paid and non-assessable and the status of such Shares under the Securities Act of 1933, as amended, and any other applicable federal law or regulations (i.e., if
subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefore), and (ii) the due and proper listing of the Shares on all applicable securities
exchanges. 

  
 8 

 8.7 The Bank and the Trust agree that all books, records, confidential, non-public, or
proprietary information and data pertaining to the business of the other party which are exchanged or received pursuant to the negotiation or the carrying out of this Agreement shall remain confidential, and shall not be voluntarily disclosed to any
person other than its auditors, accountants, regulators, employees, agents, attorneys-in-fact or counsel, except as may be, or may become required by law, by administrative or judicial order or by rule. The foregoing confidentiality obligation shall
not apply to any information to the extent: (i) it is already known to the receiving party at the time it is obtained; (ii) it is or becomes publicly known or available through no wrongful act of the receiving party: (iii) it is
rightfully received from a third party who, to the receiving party’s knowledge, is not under a duty of confidentiality; (iv) it is released by the protected party to a third party without restriction; or (v) it has been or is
independently developed or obtained by the receiving party without reference to the information provided by the protected party. 
 8.8 In
case of any requests or demands for the inspection of the Shareholder records of the Trust, the Bank will promptly employ reasonable commercial efforts to notify the Trust and secure instructions from an authorized officer of the Trust as to such
inspection. The Bank reserves the right, however, to exhibit the Shareholder records to any person whenever it is advised by its counsel that it may be held liable for the failure to exhibit the Shareholder records to such person. 

9. Termination of Agreement 
 9.1 The
term of this Agreement shall be one year commencing upon the date hereof and shall automatically renew for additional one-year terms unless either party provides written notice of termination at least ninety (90) days prior to the end of any
one year term or, unless earlier terminated as provided below: 
 (a) Either party hereto may terminate this Agreement in the event the
other party breaches any material provision of this Agreement, including, without limitation in the case of the Trust, its or the Sponsor’s obligations to make payments to the Bank under Section 2.1, provided that the non-breaching party
gives written notice of such breach to the breaching party and the breaching party does not cure such violation within 90 days of receipt of such notice. 

(b) Either party hereto may terminate this Agreement immediately by sending notice thereof to the other party upon the happening of any of the
following: (i) a party commences as debtor any case or proceeding under any bankruptcy, insolvency or similar law, or there is commenced against such party any such case or proceeding; (ii) a party commences as debtor any case or
proceeding seeking the appointment of a receiver, conservator, trustee, custodian or similar official for such party or any substantial part of its property or there is commenced against the party any such case or proceeding; (iii) a party
makes a general assignment for the benefit of creditors; or (iv) a party states in any medium, written, electronic or otherwise, any public communication or in any other public manner its inability to pay debts as they come due. Either party
hereto may exercise its termination right under this Section 9.1(b) at any time after the occurrence of any of the foregoing events notwithstanding that such event may cease to be continuing prior to such exercise, and any delay in exercising
this right shall not be construed as a waiver or other extinguishment of that right. 
 (c) The Trust may terminate this Agreement at any
time upon ninety (90) days’ prior written notice in the event that the Trust’s sponsor determines to liquidate the Trust and terminate its registration with the Securities and Exchange Commission. 

9.2 Should the Trust exercise its right to terminate, all
out-of-pocket expenses associated with the movement of records and material will be borne by the Trust. 

  
 9 

 9.3 The terms of Article 2 (with respect to fees and expenses incurred prior to termination),
Article 5 and Article 6 shall survive any termination of this Agreement. 
 10. Additional Series 

In the event that the Trust establishes one or more additional series of Shares with respect to which it desires to have the Bank render
services as transfer agent under the terms hereof, it shall so notify the Bank in writing, and if the Bank agrees in writing to provide such services, such additional issuance shall become Shares hereunder. 

11. Assignment 
 11.1 Neither this
Agreement nor any rights or obligations hereunder may be assigned by either party without the written consent of the other party. 
 11.2
This Agreement shall inure to the benefit of and be binding upon the parties and their respective permitted successors and assigns. 
 12. Severability
and Beneficiaries 
 12.1 In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any
jurisdiction, the validity, the legality and enforceability of the remaining provisions shall not in any way be affected thereby provided obligation of the Trust to pay is conditioned upon provision of services. 

12.2 This Agreement is solely for the benefit of the Bank and the Trust, and none of any Participant (as defined in the Participation
Agreement), the Sponsor, any Shareholder or beneficial owner of any Shares shall be or be deemed a third party beneficiary of this Agreement. 
 13.
Amendment 
 This Agreement may be amended or modified by a written agreement executed by both parties. 

14. Choice of Law 
 Except with respect
to Section 6.3 above, which shall be construed, interpreted and enforced in accordance with and governed by the laws of the State of Delaware, this Agreement shall be construed in accordance with the substantive laws of the State of New York,
without regard to conflicts of laws principles thereof. The Trust, on behalf of each Fund, and the Bank hereby consent to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising
hereunder. The Trust, on behalf of each Fund, hereby irrevocably waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and
any claim that such proceeding brought in such a court has been brought in an inconvenient forum. The Trust, on behalf of each Fund, and the Bank each hereby irrevocably waives any and all rights to trial by jury in any legal proceeding arising out
of or relating to this Agreement. 
 15. Merger of Agreement 

This Agreement constitutes the entire agreement between the parties hereto and supersedes any prior agreement with respect to the subject
matter hereof whether oral or written. 

  
 10 

 16. Notices 

All notices and other communications as required or permitted hereunder shall be in writing and sent by first class mail, postage prepaid,
addressed as follows or to such other address or addresses of which the respective party shall have notified the other. 
 If to the Bank:

 The Bank of New York Mellon 

2 Hanson Place 
 Brooklyn, NY
11217 
 Attention: ETF Operations 

with a copy to: 
 The Bank of
New York Mellon 
 225 Liberty Street 

New York, New York 10286 

Attention: Legal Dept.—Asset Servicing 

If to the Trust: 
 World
Currency Gold Trust 
 c/o WGC USA Asset Management Company, LLC 

685 Third Avenue, 27th Floor 

New York, New York 10017 
 17. Information
Sharing 
 The Bank of New York Mellon Corporation is a global financial organization that provides services to clients through its
affiliates and subsidiaries in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may centralize functions including audit, accounting, risk, legal, compliance, sales, administration, product communication, relationship
management, storage, compilation and analysis of customer-related data, and other functions (the “Centralized Functions”) in one or more affiliates, subsidiaries and third-party service providers. Solely in connection with the Centralized
Functions, (i) the Trust consents to the disclosure of and authorizes the Bank to disclose information regarding the Trust (“Customer-Related Data”) to the BNY Mellon Group and to its third-party service providers who are subject to
confidentiality obligations with respect to such information and (ii) the Bank may store the names and business contact information of the Trust’s employees and representatives on the systems or in

  
 11 

 
the records of the BNY Mellon Group or its service providers. The BNY Mellon Group may aggregate Customer-Related Data with other data collected and/or calculated by the BNY Mellon Group, and
notwithstanding anything in this Agreement to the contrary the BNY Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Customer-Related Data with a
particular customer. The Trust confirms that it is authorized to consent to the foregoing. 
 18. Counterparts 

This Agreement may be executed by the parties hereto in any number of counterparts, and all of said counterparts taken together shall be
deemed to constitute one and the same instrument. 
 [Signature page follows.] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in their names
and on their behalf by and through their duly authorized officers, as of the latest date set forth below. 
 WORLD
CURRENCY GOLD TRUST, ON 
 BEHALF OF EACH FUND LISTED ON APPENDIX A 

By: /s/ Gregory S.
Collett                     

Name: Gregory S. Collett 

Title: Vice President* 

Date: 1.3.17 

* Authorized to sign on behalf of the Trust in this capacity 

   since an officer of the Trust’s sponsor 

THE BANK OF NEW YORK MELLON 

By: /s/ Stephen
Cook                         

Name: Stephen Cook 

Title: Managing Director 

Date: 1/5/2017 

  
 13 

 APPENDIX A 

Funds 
 SPDR® Long Dollar Gold Trust 
 SPDR® Euro Gold
Trust 
 SPDR® Pound Gold Trust 

SPDR® Yen Gold Trust 

  
 14 

 SCHEDULE A 

Books And Records To Be Maintained 

Source Documents requesting Creations and Redemptions (including dates and times of orders) 

Correspondence/AP Inquiries 
 Reconciliations, bank statements,
copies of canceled checks, cash proofs 
 Daily/Monthly reconciliation of outstanding Shares between the Trust and DTC 

Dividend Records 
 Year-end Statements and Tax Forms 

  
 15 

 EXHIBIT A 

Form of Authorized Participant Agreement 

  
 16

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