Successive governments have promoted academy sponsorship as a way to improve the educational achievement of young people from disadvantaged backgrounds. As the academies programme has developed, policymakers have increasingly seen academy chains, and especially multi-academy trusts (MATs) as the best way of working to improve the performance of previously struggling schools and the educational outcomes of their often disadvantaged pupils. While the DfE now reports annually on MAT performance, a welcome development, there has been less attention to outcomes for disadvantaged pupils, the focus of the initial establishment of the sponsored academies programme. The Chain Effects annual reports address this gap, and remain the only analysis of the effectiveness of this policy strategy in impacting positively on the attainment of disadvantaged young people. This fifth and final report, written by Merryn Hutchings and Becky Francis, uses 2017 exam results and reviews findings over the five years. [For the 2017 report, see ED592240.]