Fidelity US Quality Value UCITS ETFKey Investor Information Thisdocumentprovidesyou withkey investorinformation aboutthisfund.It is not marketingmaterial.The information is requiredby law to help you understandthe natureand the risksof investingin this fund.You are advised to read it so you can make an informeddecision about whether to invest. Fidelity US Quality Value UCITS ETF a sub-fund of Fidelity UCITS ICAV Fidelity US Quality Value UCITS ETF Acc (ISIN:IE000MKIH0W7) This fund is managed by FIL Investment Management (Luxembourg) S.A., Ireland Branch Objectives and Investment Policy Risk and Reward Profile Objective: The fundaims to provideinvestorswitha totalreturn, Lower Risk Higher Risk taking into account both capital and income returns,which reflects,beforefees and expenses,the returnof the FidelityUS Quality Value Index (the ‘‘Index’’).Typically lower rewards Typically higher rewards Investment Policy:The investment policy of the fundis to track the performanceof the Indexas closelyas possible,regardless of whetherthe Indexlevel rises or falls, while seeking to minimise 12 34 5 6 7 as far as possible the tracking error between the fund’s performance and that of the Index. Historical data may not be a reliable indication for the future. The fund will aim to replicatethe Index by holdingall of theThe riskcategoryshownis not guaranteedand may change over Index securitiesin a similarproportionto theirweightingin the time. Index. The lowest category does not mean a "risk free" investment. The fundmay use derivativesfor efficientportfoliomanagement The risk and rewardprofileis classifiedby the level of historical and currency hedging purposes. fluctuation of the Net AssetValuesof the shareclass, and within Investment Process: The fund uses a benchmark ‘‘index tracking’’thisclassification, categories1-2 indicatea low level of historical (also knownas ‘‘passive’’) investment managementapproachby fluctuations, 3-5 a medium level and 6-7 a high level. tracking the Index. The value of your investmentmay fall as well as rise and you The Index is designedto reflectthe performanceof stocksof may get back less than you originally invested. large and mid-capitalization US companiesthat have attractive The fund may invest in instruments denominatedin currencies valuationsand exhibit quality fundamentalcharacteristics.Theotherthanthe fundbase currency. Changes in currency exchange Index comprises the equity securities of the relevant companies. rates can therefore affect the value of your investment. The fundpromotesenvironmental and/orsocial characteristics by This fund is categorisedin risk class 6 because,in accordance virtue of tracking the performancethe of Index. Throughthe with the investment policy, the value of the investmentsmay construction process,the Indexaims to achievean ESG scoreof fluctuateconsiderably.Consequently,both the expected return its portfoliowhich is greater than that of the broad market and the potential risk of loss may be high. reference index. The Index constituentsare also screened according to fundamentalmeasures as well as certain ESG exclusionary criteriabased on norm-basedscreeningand negativescreening of certain sectors, companies or practices. For moreinformationon the Index,please referto the publically available index methodology at www.spglobal.com/spdji/en/custom-index-calculations/fidelity- investments/all/#indices. Base Currency: USD Benchmark: FidelityUS QualityValue Index,an indexthattakes into account ESG characteristics. Used for: index tracking. Distribution:As this is a non-distributingshare class, dividends are reinvested. Fidelity US Quality Value UCITS ETFCharges for this fund The chargesyou pay are used to pay the costs of runningthe fund,includingthe costsof marketingand distributing it. Thesecharges reduce the potential growth of your investment. One-off charges taken before or after you invest This is the maximumthat mightbe taken out of your money Entry charge 0.00% beforeit is investedor beforethe proceedsof yourinvestment are paid out. Exit charge 0.00% The ongoingchargesfigureshownhere for thisnew class is an estimateof the charges.Thisfiguremay vary fromyear to year. The entry and exit charges shown are maximum figures. In some cases It excludes: you might pay less - you can find this out from your financial adviser / • performance fees (where applicable); distributor. • portfoliotransactioncosts,exceptin the case Charges taken from the fund over a year of an entry/exitcharge paid by the fund when buying or selling units in another Ongoing charges 0.20% collective investment undertaking. Charges taken from the fund under certain specific conditionsFor more informationabout charges,includingthe possibility that swing pricingmay apply, please consultthe most recent Performance fee N/AProspectus. *Authorisedparticipantsdealingdirectlywiththe fundmay pay an entrychargeup to 5%and an exit charge up to 3%. Although not charged directly to investorswho are not authorised participants,thesechargesmay have an impacton brokerage fees, transaction fees and/or the "bid-ask" spread. Past Performance Past performanceis not a guide to future performance results. If any, the past performanceshowntakes into account the ongoing charges with exception of any applicable entry/exit There is insufficient data to provide a useful indication of past performance to investors. charges. The fund and the class were launched on 4 December 2024. Past performancehas been calculatedin USD. Practical Information Depositary: Brown Brothers Harriman Trustee Services (Ireland) Limited. This key informationdocumentdescribesa sub-fundof Fidelity UCITS ICAV (the “Fund”). The prospectusand periodic reportsare prepared for the entire Fund. For moreinformation, please consultthe prospectusand latestreportsand accountswhichmay be obtainedfree of chargein English from FIL InvestmentManagement(Luxembourg) S.A., Ireland Branch.These documentsand details of the remuneration policy are available via www.fidelityinternational.com. The tax legislation in Ireland may have an impact on your personal tax position. For further details you should consult a tax advisor. FIL Investment Management(Luxembourg) S.A., IrelandBranchmay be held liable solelyon the basis of any statementcontainedin this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus of the fund. The Net Asset Value of the fundis available at the registeredofficeof FIL InvestmentManagement(Luxembourg)S.A., IrelandBranch, and at www.fidelityinternational.com. The assets and liabilitiesof the fund are segregatedby law fromthoseof othersub-fundsand thereis no cross-liabilityamongthe sub-funds. You may have the rightto switchfromthisshareclass intothe same or possiblyothershareclass typesof anothersub-fundof the Fund. Details on switching rules may be found in the Prospectus. This fund is authorised in Ireland and regulated by Central Bank of Ireland (CBI). FIL Investment Management(Luxembourg)S.A., IrelandBranch(to be redesignatedas FIL Investment Management(Luxembourg) S.a.r.l, IrelandBranchon or aroundMarch 2025) is the Irishbranchof FIL InvestmentManagement(Luxembourg) S.A., whichis authorisedin Luxembourg and regulated by Commission de Surveillance du Secteur Financier (CSSF). This key investor information is accurate as at 18/02/2025.