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. KraneShares Global Humanoid and Embodied Intelligence Index UCITS ETF Class USD Shares KraneShares Global Humanoid and Embodied Intelligence Index UCITS ETF (the “Fund”) Class USD Shares (ISIN: IE000O6Z73N7) (the “Class”) A Fund of KraneShares ICAV (the “ICAV”). The Fund is managed by Waystone Management Company (IE) Limited (the “Manager”). Objectives and investment policy The Fund seeks to provide investment results that correspond generally to reflects, depending on market conditions, the Fund may, in order to track the price and yield performance of companies involved in the advancement the Index accurately, hold positions in individual constituents of the Index of humanoid and embodied intelligence technology or acting as a supply up to 20% of the Fund’s Net Asset Value. chain solution for a humanoid and embodied intelligence company. The Fund’s investment policy and the nature of the Index means that the (“Embodied Intelligence Companies”). Embodied Intelligence Companies Investment Manager will not generally be able to take Sustainability Risks are companies which have been classified within certain activity groupsinto account in making investment decisions. within The Refinitiv® Business Classification, which are related toSave in exceptional circumstances, the Fund will only issue and redeem humanoid and embodied intelligence.shares of the Fund (“Shares”) to certain institutional investors. However, The Fund is passively managed and will seek to achieve its objective byother investors may purchase or sell Shares through brokers on one or tracking the performance of the MerQube Global Humanoid and Embodied more stock exchanges. The Shares trade on these stock exchanges at Intelligence Index (the “Index”) as closely as possible. The Index is market prices which may fluctuate throughout the day. Market prices may composed of 50 Embodied Intelligence Companies which are selected be greater or less than the daily net asset value of the Fund. The Fund using a proprietary scoring system which takes minimum market may engage in securities lending but does not intend to use repurchase capitalisation and liquidity requirements into account. Components are agreements or total return swaps. weighted equally at each quarterly rebalance, based on their prices five The Fund may invest up to 10% of its net asset value in other regulated days prior to rebalance. Under normal circumstances, the Fund will invest collective investment schemes, including other exchange traded funds. at least 80% of its net assets in securities of Embodied Intelligence Companies or in depositary receipts representing securities of the Index. Shareholders may redeem Shares on any Business Day (as defined in Depositary receipts are securities issued by a financial institution which the Fund supplement) and any other day at the Directors’ discretion evidence ownership interests in a security or a pool of securities deposited provided Shareholders are notified in advance. A list of dealing days for with the financial institution. The Fund seeks to hold all the securities of the the Fund is published on https://kraneshares.eu/. Index with the approximate weightings that they have in the Index. The The Fund’s base currency and the class currency of this Class is U.S. Fund in certain, limited circumstances, where replication of the Index is not Dollar. reasonably practical may also invest in instruments that are not included in The Fund’s income will be reinvested and the Fund does not intend to the Index but are securities which provide similar price and yield declare dividends. performance and risk profiles to constituents of the Index.Please refer to the ICAV’s prospectus and the supplement in respect of The Fund does not intend to use financial derivative instruments. the Fund for more information. Although the Index is generally well diversified, because of the market itRisk and reward profile Lower risk Higher risk• Index Tracking Risk: The Fund’s performance may not track the Index exactly. This can result from market fluctuations, changes in the 1 2 3 4 5 6 7composition of the Index, transaction costs, the costs of making changes to the Fund’s portfolio and other Fund expenses. Typically lower rewardsTypically higher rewards • Liquidity Risk: In stressed market conditions, the nature of the Fund's assets may result in the Fund not being able to process all redemption The risk category above is not a measure of capital loss or gains but of requests in line with its usual procedures and timeframes. how significant the rises and falls in the Fund's return are predicted to be.• Holdings and Sector Concentration: The Fund may be concentrated in a specific industry sector and the NAV of the Fund may be more • The risk reward category shown is based on historic data which may volatile as a result of this concentration. not be a reliable indication for future performance of the Fund. • The risk category shown is not guaranteed and may shift over time. • Emerging Market including China: Investments in emerging market including China may involve a higher risk of financial loss than • The higher the category, the greater potential for reward, but also the investments in more developed countries due to lower liquidity and greater the risk of losing the investment. possible lack of adequate, legal, social, political and economic • The lowest category does not mean risk free. structures, protection and stability as well as uncertain tax positions. • The Fund is in category 7. The Fund is in this category due to the • Equity Risk: The value of equity securities may go down as well as up nature of its investments and their recent price volatility. This means in response to the performance of individual companies and general that the Shares may be subject to significant increases and decreases market conditions, sometimes rapidly or unpredictably. If a company in price. goes through bankruptcy or a similar financial restructuring, its shares Significant risks for the Fund not taken into account in this indicatorin issue typically lose most or all of their value. include the following: • Index Related Risk: The Fund tracks the performance of the Index. • Concentration Risk: The Fund may invest in a relatively smallAs a result, the net asset value of the Fund's assets is directly number of investments or concentrate its investments in a specific dependent on the performance of the Index. Losses that could be industry sector. As a result, investments may be more volatile than a avoided via active management will not be offset. more diversified investment. • Risk related to Stock Connect Programs: The Fund may be investing in China A Shares via the Shanghai – Hong Kong StockPage 1 of 2 Connect and the Shenzhen-Hong Kong Stock Connect which may For full details of the relevant risks reference should be made to the entail additional clearing and settlement, regulatory, operational and risk factors sections of the prospectus and supplement. counterparty risks.Charges The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest The entry and exit charges shown are maximum figures. In somecases you might pay less – you can find this out from your financial Entry charge0.00% adviser. Exit Charge 0.00% Entry and exit charges are not applicable to investors buying/sellingShares on a stock exchange, but such investors will do so at market These are the maximum charges that we might take out of your money before it is prices and may be subject to broker fees and/or other charges. invested and before we pay out the sale proceeds of your investment. In some cases, As the Class has not yet launched, the ongoing charges figure is an you might pay less and you should speak to your financial adviser about this. estimate based on the expected total charges. This figure may varyfrom year to year. It excludes portfolio transaction costs, except in the Charges taken from the Fund over a year case of an entry/exit charge by the Fund when buying or selling units in Ongoing Charge 0.69% another collective investment scheme.For more information about charges, please make reference to Charges taken from the Fund under specific conditions fees and expenses section of the prospectus and supplement. Performance Fee 0.00% Past performance The Class does not yet have sufficient data to provide a useful indication of past performance to investors. Fund launch date: This Fund is not yet launched.. Share class launch date: This share class is not yet launched. Practical information • The Depositary is SEI Investments – Depositary and Custodial Services (Ireland) Limited. • Further information about the Fund including copies of the prospectus, the supplement in respect of the Fund, annual audited reports and accounts (once available) and the most recent subscription and repurchase prices may be obtained in English free of charge from https://kraneshares.eu/. •The indicative net asset value per share of the Fund is available on major market data vendor terminals, including Bloomberg, Reuters. •Details of the Manager’s current remuneration policy are available on www.Waystone.com or alternatively a paper copy may be obtained, free of charge, at the registered office of the Manager, upon request. •This key investor information document relates to the Class. More specific information about the Fund, including how to buy, sell and switch Shares, may be found in the prospectus and the supplement. •The ICAV is structured as an umbrella fund with segregated liability between its Funds. This means that the assets and liabilities of each Fund are segregated by law, so that an investor should have no claims over the assets of a Fund in which they do not own shares. •The ICAV is subject to the tax laws and regulations of Ireland. Depending on your country of residence, this might have an impact on your personal tax position. You are advised to seek professional tax advice. •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. This ICAV is authorised as a UCITS in Ireland and regulated by the Central Bank of Ireland. The Manager is authorised in Ireland and regulated by the Central Bank of Ireland. This Key Investor Information is accurate as at: 24/09/2025Page 2 of 2