Key Investor Information This document provides you with key investor information about this 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 fund. You are advised to read it so you can make an informed decision

about whether to invest.

Saba Capital Investment Trusts UCITS ETF (the Fund) – ISIN: IE0008RSSHT4 Accumulating ETF Share Class A sub-fund of HANetf II ICAV. Managed by HANetf Management Limited (the Manager)

Objectives and Investment Policy

The Fund is actively managed and, in order to achieve its

Investment Trust is wound-up and its assets are distributed investment objective, the Investment Manager will invest in theamong shareholders or where the Fund receives the Underlying shares of closed-ended investment vehicles (qualifying as

Assets from an Investment Trust as an in-kind redemption or an transferable securities), being investment trusts (Investment

in-kind distribution. Trusts).Investment Policy: The Fund employs an active management Such Investment Trusts may provide exposure to public and

investment approach in order to achieve its investment private equities and bonds, alternative asset classes, including

objective. private equity and venture capital, real estate through real estate investment trusts (REITs), cash and cash equivalents andDealing: Shares of the Fund (Shares) are listed on one or more commodities (the Underlying Assets) in a manner consistent stock exchanges. Typically, only authorised participants (i.e. with the UCITS Regulations and Central Bank requirements. In

brokers) can purchase Shares from or sell Shares back to the particular, the Fund will invest in Investment Trusts domiciled in Fund. Other investors can purchase and sell Shares on exchange the UK, Guernsey and Jersey.

on each day the relevant stock exchange is open.

The Investment Manager utilises fundamental analysis toDistribution policy: Income received by the Fund’s investments identify investment opportunities with favourable attributes,

will not be distributed in respect of the shares of this class. taking account of factors such as discount to net asset value

Instead, it will be accumulated and reinvested on behalf of the (NAV), relative discount to peers, liquidity of the Investment shareholders of the Fund. Trust and underlying assets, shareholder composition, and the assets under management (AUM) of the Investment Trust or

Recommendation: This Fund may not be appropriate for short- closed-ended fund. term investment.

While the Fund will not seek direct exposure to any Underlying Currency: The base currency of the Fund is Pound Sterling. Assets, the Fund may at times directly hold Underlying Assets, in

For full investment objectives and policy details, please refer to a manner consistent with the UCITS Regulations and Central the supplement to the prospectus for the Fund (the Bank requirements, where an Investment Trust distributes its

“Supplement”). assets to the Fund in its capacity as a shareholder of the Investment Trust. Such distributions may occur where the

Risk and Reward Profile Lower risk Higher risk

(subject to the Fund’s investment restrictions) to invest theTypically lower rewards

Typically higher rewardsFund’s assets in investments that it considers will enable the Fund to achieve its investment objective. There is no guarantee123 4 56 7

that the Fund’s investment objective will be achieved based on the investments selected.

The categorisation above is not guaranteed to remain unchanged

 Investment Trusts Risk: As Investment Trusts are closed-ended

and may shift over time. structures, their shares may trade at a discount to the NAV of

The lowest category (1) does not imply a risk-free investment. the Underlying Assets. While the Investment Trusts in which

The risk indicator was calculated incorporating simulated historical the Fund may invest may be subject to fees and expenses

data and may not be a reliable indication of the future risk profile of generally in the range of 0.5% to 1%, as the Fund will acquire

the Fund. shares in such Investment Trusts at market price and typically

The categorisation above is not guaranteed to remain unchanged at a discount to NAV, it will not be directly subject to such fees

and may shift over time. through these investments. As with any exchange traded

The categorisation above (5) is due to the nature of the Fund’s investment, buying and selling shares in Investment Trusts will

investments and risk associated with those investments, including: be subject to transaction costs such as stamp duty and broker There is no assurance that any appreciation in the value of fees.

investments will occur, or that the investment objective of the

Risks not covered by the indicator, but which are materially

Fund will be achieved.

relevant to the Fund include: Active Management Risk: The Fund’s assets will be actively

managed by the Investment Manager who will have discretion

 Liquidity on secondary market risk: There can be no certainty For a complete overview of all risks attached to this Fund, refer tothat Shares can always be bought or sold on a stock exchange

the section entitled “Risk Factors” in the Supplement and theor that the market price will reflect the NAV of the Fund.Prospectus.

Charges The charges you pay are used to pay the costs of running the Fund, Since the Fund is an ETF, secondary market investors will not including the costs of marketing and distributing it. These charges reduce typically be able to deal directly with HANetf II ICAV. Investors the potential growth of your investment.

buying Shares on exchange will do so at market prices which

One-off charges taken before or after you invest

will reflect broker fees and/or transactions charges and bid-ask

Entry charge 0%*

spreads as well as underlying company prices at the time of

Exit charge

0%*

trading on the secondary market.* Authorised participants dealing directly with the Fund will payrelated transaction costs. Charges taken from the Fund over a year* For Investors dealing directly with the Fund, switching Ongoing charges

1.50%**

between sub-funds may incur a maximum switching charge of3%. Charges taken from the Fund under certain specific ** The ongoing charges are paid to the Manager which is conditions responsible for discharging from its fee the cost of operating Performance feeNonethe Fund. It excludes portfolio transaction costs, except in the * Authorised participants dealing directly with the Fund may pay an entry

case of an entry/exit charge paid by the Fund when buying or charge up to a maximum of 5% and an exit charge up to a maximum of selling units in another investment fund. 3%. The Fund is currently not exercising its entitlement to apply entryPlease see "General Charges and Expenses" and "Management and exit charges.

Charges and Expenses" sections of the Prospectus and"Charges and Expenses" and "Key Information for ShareDealing" sections of the Supplement for further informationabout charges. Past Performance

There is insufficient data to provide a useful indication of past performance to investors

Practical Information Investment Manager: Saba Capital Management L.P.

Switching: Switching of Shares between sub-funds of HANetf II Depositary: U.S. Bank Europe DAC trading as U.S. Bank Depositary

ICAV is not possible for investors who purchase shares on Services Limited

exchange. Switching may be available to authorised Administrator: U.S. Bank Global Fund Services (Ireland) Limited.

participants who deal directly with the Fund.Segregated liability: The Fund is a sub-fund of HANetf II ICAV, Further information: Copies of the Prospectus documentation and thean umbrella Irish collective asset-management vehicle. Under latest financial statements are available free of charge from the

Irish law the assets and liabilities of the Fund are segregated Administrator. The Prospectus and financial statements are prepared forfrom other sub-funds within HANetf II ICAV and the assets of HANetf II ICAV rather than separately for the Fund. Further informationthe Fund will not be available to satisfy the liabilities of another on the composition of the portfolio is available at www.HANetf.com.fund of HANetf II ICAV. Remuneration Policy: Details of the Manager’s remuneration policy, Taxation: HANetf II ICAV is resident in Ireland for taxation including a description of how remuneration and benefits are calculatedpurposes. Irish taxation legislation may impact on the personal and the identities of the persons responsible for awarding suchtax position of an investor. remuneration/benefits, can be accessed from the following website: Liability statement: The Manager may be held liable solely on www.hanetf.com. A paper copy of these policy details is also available the basis of any statement contained in this document that is free of charge from the Manager upon request.

misleading, inaccurate or inconsistent with the relevant parts of Pricing information: The net asset value of the share class will bethe Prospectus. available during normal business hours every business day at the office of the Administrator and will be published daily on www.hanetf.com. This Fund is authorised in Ireland and regulated by the Central Bank of Ireland. HANetf Management Limited is authorised in Ireland and regulated by the Central Bank of Ireland. This key investor information is accurate as at 26.01.2026