Key Investor Information This document provides you with key investor information about this Sub-Fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this Sub-Fund. You are advised to read it so you can make an informed decision about whether to invest.Janus Henderson US Short Duration High Yield Active Core UCITS ETF Janus Henderson US Short Duration High Yield Active Core UCITS ETF USD Acc IE0007W7MZL0 Investment Manager: Janus Henderson Investors UK Limited Management Company :Waystone Management Company (IE) Limited You are about to purchase a product that is not simple and may be difficult to understand Objectives and investment policy – The Share Class of the Sub-Fund will accumulate income in itsvalue. The Sub-Fund aims to outperform ICE BofA 0-5 Year BB-B US High Yield Constrained Index, the Index Benchmark, over the long term by investing primarily –This Sub-Fund may not be appropriate for short-term investment. in an actively managed portfolio of USD-denominated sub-investment grade corporate bonds. – The Share Class is denominated in USD. The Sub-Fund isdenominated in USD. The Sub-Fund aims to invest at least 80% of its net assets in a portfolio of USD- denominated corporate bonds with the following characteristics: Fixed or floating rate bonds; Rated below Baa3 by Moody's Investors Services, Inc. (“Moody's”), or equivalently rated by Standard & Poor's Ratings Services (“Standard & Poor's”) or Fitch, Inc. (“Fitch”), or, if unrated, determined by the Sub-Investment Manager to be of comparable quality; Expected maturity of between 1 and 5.5 years; Minimum – In normal conditions, Authorised Participants may deal in shares amount outstanding of USD 300 million and No Regulation S bonds.directly with the Sub-Fund. Other investors can deal in shares daily While the Sub-Fund will primarily invest in corporate bonds issued by corporatethrough an intermediary on stock exchanges on which the shares are issuers in developed markets, predominantly the US, the Sub-Fund may also traded. invest up to 20% of its net assets in corporate bonds from emerging markets issuers. The Sub-Fund may invest up to 10% of its net asset value in Eligible For more information on the Share Class of the Sub-Fund, please see Collective Investment Schemes, up to 10% in ancillary liquid assets and the sub- the supplement for the Sub-Fund and the prospectus of Janus fund might emoliy futures, credit default swaps, options, total-return swaps and Henderson ICAV, available on the product pages of www.jhetf.com. FX-forwards for efficcient portfolio management or investment purposes. The Sub-Investment Manager is actively managed with reference to the Index Benchmark and it uses a combination of quantitative analysis and fundamental For an explanation of some of the terms used in this document, please research (a “quantamental” approach) as the primary basis for constructing thevisit the glossary on our website atwww.janushenderson.com. Sub-Fund's portfolio. Further information on the quantitative analysis and fundamental research can be found in the Supplement. The portfolio of securities will be constructed systematically using a portfolio optimisation tool developed by the Sub-Investment Manager. In managing the Sub-Fund's risk profile relative to the Index Benchmark, the Sub-Investment Manager will seek to target a tracking error of 1.0 - 1.5% over the market cycle and to maintain a similar interest rate duration to the Index Benchmark (typically within +/-0.5 years). The Sub-Fund is an Article 6 fund for the purposes of SFDR Risk and reward profile Active Management: Active management techniques that have worked well in normal marketconditions could prove ineffective or negative for performance at other times. Credit Risk: An issuer of a bond (or money market instrument) may become unable or unwilling to pay Lower riskHigher risk interest or repay capital. If this happens or the market perceives this may happen, the value of thebond will fall. Typically lower rewards Typically higher rewards Interest Rates: When interest rates rise (or fall), the prices of different securities will be affecteddifferently. In particular, bond values generally fall when interest rates rise (or are expected to rise).This risk is typically greater the longer the maturity of a bond investment. High Yield Bonds: While high yield (non-investment grade) bonds generally offer higher rates ofinterest than investment grade bonds, they are more speculative and more sensitive to adversechanges in market conditions. This indicator is based on historical data and may not be a reliableCounty or Region: High exposure to a particular country or geographical region carries a higher level indication of the future risk and reward profile of the Share Class. of risk than a more broadly diversified portfolio. The risk category shown is not guaranteed and may shift over time.Derivatives: Derivatives may be used with the aim of reducing risk or managing the portfolio moreefficiently. However, this introduces other risks, in particular, that a derivative counterparty may notmeet its contractual obligations. The lowest category (Category 1) does not mean ‘risk free’.Liquidity: Securities could become hard to value or to sell at a desired time and price, especially in The Share Class is rated 4 due to the nature of its investments and the extreme market conditions when asset prices may be falling, increasing the risk of investment losses. frequency of price movement which include the following risks whichCounterparty and Operational Risks: Losses could be incurred if a counterparty became unwilling or may impact the value of the Share Class or expose it to losses. unable to meet its obligations, or as a result of failure or delay in operational processes or the failure ofa third party provider. – No capital protection: The value of your investment may go down as well as up and you may not get back the amount you invested. – Liquidity risk: Lower liquidity means there are insufficient buyers or sellers to allow the Sub-Fund to sell or buy investments readily. Neither the Index provider nor the issuer make any representation or For more information on the risks to the Sub-Fund, please see the forecast on liquidity.supplement for the Sub-Fund and the prospectus of Janus Henderson ICAV, available on the product pages of www.jhetf.com The Index is the intellectual property of the index provider. The Share Class is not sponsored or endorsed by the index provider. Please refer to the Sub-Fund's prospectus for full disclaimer. Charges for this Share Class Ongoing charges have not been based on an ex-post calculation as theSub-Fund was launched less than one calendar year ago. Ongoing The charges you pay are used to pay the costs of running the Sub-Fund, charges have accordingly been estimated based on the expected total including the costs of marketing and distributing it. These charges reduce of charges that will be taken from the assets of the Sub-Fund over the the potential growth of your investment. course of a year, in accordance with the Sub-Fund’s supplement. Itexcludes portfolio transaction costs and taxes or duty charges for One-off charges taken before or after you investportfolio re-balancing, except in the case of an entry/exit charge paid Entry charge: None*by the Sub-Fund when buying or selling units in another collectiveinvestment undertaking if any. Exit charge: None* * Not applicable to secondary market investors. Secondary marketinvestors (those who buy or sell shares on a stock exchange) may be Charges taken from the Sub-Fund over a yearcharged certain fees by their stock broker. These charges, if any, canbe obtained from such stock broker. Authorised Participants dealing Ongoing charges: 0.49% directly with the Sub-Fund will pay the transaction costs related to theirsubscriptions and redemptions. Charges taken from the Sub-Fund under certain specific conditions Performance fee: None For more information about charges, please see the section “Fees and Expenses” of the Sub-Fund’s prospectus and supplement, which is available a twww.jhetf.com. Past performance – Past performance is not a reliable indicator of future returns. – The Sub-Fund was launched on 27 January 2026 – The Share Class was launched on 27 January 2026. – Performance is shown after deduction of ongoing charges. Any entry/exit charges are excluded from the calculation. – The past performance has been calculated in USD. The base currency of the Sub-fund and Index is in USD. 1Y Return Share Class Index N/A N/A N/A Practical information – The Depositary is HSBC Continental Europe. – Further information about the Sub-Fund and the Share Class can be obtained from the latest annual report and semi-annual financial report in English and certain other languages. These can be found, along with details of the underlying investments of the Share Class and the latest share Net Asset Value, at www.jhetf.com or by calling +44 20 3909 4700 or from your financial adviser or broker. – The Sub-Fund is subject to Irish tax regulations. This may have an impact on the investor's personal tax position. – The Manager may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate, or inconsistent with the relevant parts of the Prospectus and Supplement for the Fund. – The indicative intra-day net asset value of the Share Class is available at www.londonstockexchange.com. – The Sub-Fund is part of Janus Henderson ICAV, an Irish collective asset-management vehicle with segregated liability between sub-funds. The assets and liabilities of each sub-fund of Janus Henderson ICAV are segregated by law from each other and the rights of investors and creditors in relation to a sub-fund should normally be limited to the assets of that sub-fund. Janus Henderson ICAV consists of separate sub-funds, each of which issues one or more Share Classes. This document is prepared for a specific Share Class. The prospectus and annual and semi-annual financial reports are prepared for Janus Henderson ICAV. – For ETF Share Classes, only Authorised Participants may switch into Shares of another Share Class of the Sub-Fund or another Sub-Fund of Janus Henderson ICAV. – Details of the remuneration policy of the Manager is available at https://www.waystone.com/waystone-policies/. A paper copy of the remuneration policy will be made available free of charge upon request. This Sub-Fund is authorised in Ireland and regulated by the Central Bank of Ireland. The Manager is authorised in Ireland and regulated by the Central Bank of Ireland. Tabula Investment Management Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Janus Henderson Investors UK Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 13 February 2026.