abrdn Future Raw Materials UCITS ETF This is a marketing communication. Please refer to the Prospectus of the UCITS/Information document and the Key Investor Information Document (KIID) or Key Information Document (KID) as applicable before making any final investment decisions. 30 April 2026 Key facts Fund name abrdn Future Raw Objective Materials UCITS ETF To generate growth over the long-term (5 years or more) by investing primarily in companies withIndex nameMSCI AC World (Net) alignment to the Future Raw Materials Theme (as defined below). Index (USD) Performance Comparator: for comparison purposes, investors can compare the Fund's long-term Manager/Investment abrdn Investments performance to the MSCI ACWI Index Net Total Return (USD) as indicative of the performance of the ManagerLimited Future Raw Materials Theme against global equities. The Fund does not aim to outperform this index and it is not used for portfolio construction or risk management purposes. Depositary/CustodianState Street Custodial Services (Ireland) Investment policyLimited - Ireland - The Fund invest at least 70% in equities and Equity Related Securities of companies of all sizes listed on Fund sizeUSD 43.75m global stock exchanges including Emerging Markets, with alignment to the Future Raw Materials Theme.Shareclass size USD 43.88m - The "Future Raw Materials Theme" can be defined as companies having a minimum of 50% of their Shares outstanding 17000000 current revenue linked to the extraction and processing of Future Raw Materials (as defined below). - Provided that the 50% threshold is met, these companies aligned with the Future Raw Materials Theme TER 0.45% may also be involved in activities that may not align with the Future Raw Materials Theme. CompaniesBase currency USD which meeting the 50% threshold above are referred to herein as "Theme Aligned Investments".Inception date 09 May 2025 - The Investment Manager will identify a short list of strategic minerals (which may include, but are not limited to, copper, nickel, lithium, aluminium and rare earth minerals) whose demand is expected to Management approach Active - Physical increase due to their use in technologies that underpin economic changes and developments (the "Future ExposureQuantitative Raw Materials"). Such shortlist will change as technological developments emerge and evolve which Rebalance frequency Quarterly means that the use and supply of certain minerals varies. Details of the components of the short list will be available on request from the Investment Manager.UCITSYes - In addition to its investment in Theme Aligned Investments, the Fund may, for liquidity and diversification Fund type ICAV purposes, invest up to 30% of the Fund's Net Asset Value in companies which are not Theme Aligned Tax status AUT,DEU,ITA,CHE,GBR Investments but which do have exposure to Future Raw Materials. Such companies are companies that do not currently meet the minimum 50% revenue alignment threshold of the Future Raw Materials Theme ISA eligible (andYes referred to above, however, such companies must have a minimum of 20% of either current or forecasted equivalent for other revenue linked to Future Raw Materials. If forecast revenue is used, the expectation is that the company's countries) current revenue linked with Future Raw Materials will exceed this 20% minimum within 18 months. SIPP eligible (and Yes - The Fund may invest up to 30% in Mainland China equity and Equity Related Securities through theequivalent for other ShanghaiHong Kong and ShenzhenHong Kong Stock Connect programme.countries) - The Fund may also invest up to 20% in companies with Variable Interest Entity structures. Index ticker ARAX - The Fund may invest up to 10% in other funds (including those managed by abrdn), moneymarket instruments and cash for liquidity management. DomicileIreland Risk and Reward profile Due to the share class having been launched within the past year and consequently having a performance track record of less than Lower risk Higher risk 12 months, the share class performance cannot currently be shown. Typically lower rewards Typically higher rewards This indicator reflects the volatility of the fund’s share price over the last five years. See Key Investor Information Document (KIID) for details. Key risks (a) The value of investments and the income from them can fall and investors may get back less than the amount invested. (b) The fund invests in equity and equity related securities. These are sensitive to variations in the stock markets which can be volatile and change substantially in short periods of time. (c) A concentrated portfolio may be more volatile and less liquid than a more broadly diversified one. The fund's investments are concentrated in a particular country or sector, or closely related group of industries or sectors. (d) The fund invests in emerging market equities and / or bonds. Investing in emerging markets involves a greater risk of loss than investing in more developed markets due to, among other factors, greater political, tax, economic, foreign exchange, liquidity and regulatory risks. (e) The shares of small and mid-cap companies may be less liquid and more volatile than those of larger companies.Investor Service+ 44 (0)1224 425255 (UK)+ 352 4640 1 0820 (International)Fax Dealing Service + 352 2452 9056 www.aberdeeninvestments.com (f) The fund may invest in companies with Variable Interest Management process Entity (VIE) structures in order to gain exposure to - The Fund is actively managed. industries with foreign ownership restrictions. There is a risk that investments in these structures may - The Investment Manager actively identifies a short list of key minerals (which may include, but are be adversely affected by changes in the legal and not limited to, copper, nickel, lithium, aluminium and rare earth minerals) which it classifies as Future regulatory framework. Raw Materials, through a combination of internal research (such as financial analysis and company (g) Investing in China A shares involves special engagement at both stock and sector level) and external research and assessment (such as third-partyconsiderations and risks, including greater price volatility, a less developed regulatory and legal research papers on the theme and thematic taxonomies), upon which Fund investments are focused. framework, exchange rate risk/controls, settlement, tax, Whilst the Investment Manager cannot reasonably identify the end use of the minerals that investee quota, liquidity and regulatory risks. companies extract and process, the mineral selection is based on the considered long-term demand of (h) The use of derivatives carries the risk of reduced their use in technologies (for example space satellites, data transmission networks, solar panels and wind liquidity, substantial loss and increased volatility in adverse market conditions, such as a failure amongst turbines, electric batteries and wiring) in conjunction with the scarcity of supply to meet this demand. Themarket participants. The use of derivatives may result short list of minerals is defined with a long-term view but will be reviewed at least annually. in the fund being leveraged (where market exposure - The initial investment universe is established using statistical analysis to identify Theme Aligned and thus the potential for loss by the fund exceeds the Investments. The Investment Manager may then supplement the initial universe with companies thatamount it has invested) and in these market conditions the effect of leverage will be to magnify losses. have a minimum of 20% of current or forecasted revenue linked to Future Raw Materials to finalise the investment universe. - The portfolio is then constructed from this universe, using a quantitative model to select companies and assign position weights based on the Investment Manager's proprietary scoring system, which looks to maximise the weightings of companies with the most favourable elements of valuation, profitability, and earning and price momentum, whilst taking into account the requirements in terms of diversification (across stock and mineral), and liquidity. - No benchmark is used for portfolio construction or as a basis for setting risk constraints in the management of the Fund. Top Ten Holdings Sector (%) Lynas Rare Earths 3.9 Materials91.2 Nickel Industries Ltd 3.6 Century Aluminium Commpany 3.5 Energy 5.7 Press Metal Aluminium Holdings 3.4 Sigma Lithium Corp 3.3Industrials 1.5 Pilbara Minerals 3.2 Alcoa 3.1Information Technology 1.3 Vale Indonesia 3.1 China Minmetals Rare Earth (A) (SC SZ) 3.1Cash 0.3 MP Materials 2.9 Assets in top ten holdings33.1Country (%) China21.7 Australia19.0 Canada 17.3 United States of America 13.4 Indonesia5.7 Peru 3.6 Malaysia 3.4 Brazil 3.3 Other12.5 Cash 0.3 Source : Aberdeen 30/04/2026 Figures may not always sum to 100 due to rounding. Trading information ExchangeCurrency ISINSedol Ticker Bloomberg code Deutsche Borse XetraUSDIE000J7QYHD8 BR2PGR0 ARAWUSD. ARAX GY DE Deutsche Borse XetraEUR IE000J7QYHD8 BRCFZ06 ARAW.DE ARAW GY London Stock Exchange GBX IE000J7QYHD8 BRCG190 ARAW.L ARAW LN SIX Swiss Exchange CHF IE000J7QYHD8 BR2PGS1 ARAW.S ARAW SE Country registration AustriaInvestor Service+ 44 (0)1224 425255 (UK) Belgium+ 352 4640 1 0820 (International) France Fax Dealing Service + 352 2452 9056 Germany Irelandwww.aberdeeninvestments.com Italy Luxembourg Netherlands Switzerland United Kingdom The fund is a sub fund of abrdn III ICAV, an open-ended umbrella fund which is regulated by the Central Bank of Ireland and with segregated liability between sub-funds registered in the Republic of Ireland (no. C469164) at 3rd Floor, 55 Charlemont Place, Dublin 2. This fund is categorised as Article 6 under SFDR. Details of Aberdeen's Sustainable and Responsible Investment Approach are published at www.aberdeeninvestments. com under Sustainable Investing. This fund concerns the acquisition of units/shares in a fund, and not in a given underlying asset such as a building or shares of a company. Any decision to invest should take into account all objectives of the fund. To help you understand this fund and for a full explanation of risks and the overall risk profile of this fund and the share classes within it, please refer to the Key Investor Information Documents available in the local language, and Prospectus available in English, which are available at www.aberdeeninvestments.com. The Prospectus also contains a glossary of key terms used in this document. A summary of investor rights can be found in English under Group Policies on the Manager’s website (https://www.carnegroup.com/wp-content/uploads/2022/03/Carne-Group-Summary-of-Investor-Rights-1. pdf) This information is intended to be of general interest only and should not be considered as an offer, investment recommendation or solicitation to deal in the shares of any securities or financial instruments. Subscriptions for shares in the fund may only be made on the basis of the latest prospectus, relevant Key Investor Information Document (KIID) and, in the case of UK investors, the Supplementary Information (SID) for the fund which provides additional information as well as the risks of investing. These may be obtained free of charge from Aberdeen. All documents are also available on www.aberdeeninvestments.com. Further information about the abrdn Future Raw Materials UCITS ETF can be obtained from the prospectus, supplement to the prospectus and latest annual and semi-annual reports once available. These documents are available in English, are free of charge and can be obtained along with other information such as unit prices, from aberdeeninvestments.com, the Manager, or the paying agent: EU/EEA territories in which the fund is authorised for sale: europeanfacilitiesagent@carnegroup.com or UK facilities agent: UKfacilities@ carnegroup.com The Manager may terminate arrangements for marketing the fund under the Cross-border Distribution Directive denotification process. For UK Investors Only: The Fund is authorised overseas, but not in the United Kingdom. UK investors should be aware that if they invest in this Fund, they will not be able to refer a complaint against its management company or its depositary to the UK’s Financial Ombudsman Service. Any claims for losses relating to the management company or the depositary will not be covered by the UK’s Financial Services Compensation Scheme. Investors should consider getting financial advice before deciding to invest and should see the prospectus of the Fund for more information. The fund has been authorised for public sale in certain jurisdictions and private placement exemptions may be available in others. It is not intended for distribution or use by any person or entity that is a citizen or resident of or located in any jurisdiction where such distribution, publication or use would be prohibited. Any data contained herein which is attributed to a third party (“Third Party Data”) is the property of (a) third party supplier(s) (the “Owner”) and is licensed for use by Aberdeen*. Third Party Data may not be copied or distributed. Third Party Data is provided “as is” and is not warranted to be accurate, complete or timely. To the extent permitted by applicable law, none of the Owner, Aberdeen* or any other third party (including any third party involved in providing and/or compiling Third Party Data) shall have any liability for Third Party Data or for any use made of Third Party Data. Neither the Owner nor any other third party sponsors, endorses or promotes the fund or product to which Third Party Data relates. * Aberdeen means the relevant member of the Aberdeen Group , being Aberdeen Group plc together with its subsidiaries, subsidiary undertakings and associated companies (whether direct or indirect) from time to time. FTSE International Limited (“FTSE”) © FTSE 2026. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under license. All Rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for the errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent. Before making an investment in the fund, investors should take steps to ensure that they fully understand the investment risks associated with the fund and have made an independent assessment of the appropriateness of an investment in the fund in light of their own objectives and circumstances.abrdn Investments Limited or any other party is not acting as your financial adviser or in any other fiduciary capacity in respect to this proposed transaction. The information contained in this document is based on material Carne Global Fund Managers (Ireland) Limited and abrdn Investments Limited believe to be reliable.The information contained in this document is not complete and is subject to updating, completion, modification and amendment. Assumptions, estimates, and opinions contained in this document are subject to change without notice. Please note that no representation is being made that the fund is likely to achieve returns in the future similar to any other funds for which abrdn Investments Limited or any other member of the Aberdeen Group is Investment Manager or Distributor. The Aberdeen Group comprises Aberdeen Group plc and its subsidiaries. Opinions expressed above are subject to change without notice and do not take in to account the particular investment objectives, financial situation or needs of individual investors. The communication may only be transmitted to persons to which the Manager or the Investment Manager reasonably believe they are permitted to communicate financial promotions related to the fund or otherwise promote the fund. abrdn Investments Limited is registered in Scotland (SC108419) at 1 George Street, Edinburgh, United Kingdom, EH2 2LL. It is authorised and regulated in the United Kingdom by the Financial Conduct Authority and is theInvestment Manager andDistributor for abrdn III ICAV. Carne Global Fund Managers (Ireland) Limited, registered in the Republic of Ireland (Company no. 377914) at 3rd Floor, 55 Charlemont Place, Dublin 2. It is regulated by the Central Bank of Ireland and is theAuthorised Investment Fund Manager (“the Manager”) for abrdn III ICAV.