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.

RIZE USA ENVIRONMENTAL IMPACT UCITS ETF: USD Accumulating ETF ARK Invest UCITS ICAV (the "ICAV") ISIN: IE000PY7F8J9 The Fund is a sub-fund of ARK Invest UCITS ICAV (the "ICAV"). Managed by IQ EQ Fund Management (Ireland) Limited (the "Manager") of the IQ EQ group of companies Objectives and Investment Policy

The Index shall be rebalanced on a semi-annual basis. Please refer to the FUND. The Rize USA Environmental Impact UCITS ETF (the "Fund")

“The Index” section of the Fund Supplement for further detail. is a passively managed exchange traded fund ("ETF") that aims to replicate the performance of the Foxberry SMS USA Environmental

TRACKING METHOD. The Fund will primarily invest in the companies Impact USD Net Total Return Index (the "Index"). contained in the Index in similar proportions to their weightings in the INDEX. The Index is designed to provide exposure to United StatesIndex. The Fund may also invest in (1) Depositary receipts relating to the companies that are developing and applying innovative and impactful

companies contained in the Index and (2) financial derivative instruments solutions to tackle the world’s most pressing climatic and

(“FDIs”) which are investments the prices of which are based on the environmental challenges. These are companies that are consideredcompanies contained in the Index. to be making a substantial contribution to one or more of the sixDIVIDEND POLICY. This Share Class does not intend to pay dividends. environmental objectives of the EU Sustainable Finance Taxonomy: Any income which may result from the Fund’s investments will be re- (1) Climate change mitigation; (2) Climate change adaption; (3) The

invested into the Fund. sustainable use and protection of water and marine resources; (4) The transition to a circular economy; (5) Pollution prevention and

DEALING. Shares in this Share Class (the “Shares”) are denominated in control; and (6) The protection and restoration of biodiversity and

USD and can be bought and sold on stock exchanges by ordinary ecosystems. The Index utilises a unique thematic classification and

investors using an intermediary (e.g. a stockbroker). In normal scoring system pursuant to which companies must derive at least

circumstances, only Authorised Participants may buy and sell Shares 50% of their revenues from the sub-sectors of the “Environmental directly with the ICAV. Authorised Participants may redeem their Shares Impact Opportunities” thematic classification used by the Index and

on demand in accordance with the “Dealing Timetable” published on are primarily weighted according to their respective forward-looking http://www.rizeetf.com Environmental Impact Scores.

Risk and Reward Profile Lower riskHigher riskincluding the risk arising from rapidly changing technologies and

obsolescence of existing products; fierce competition from

competitors with lower costs; aggressive pricing and reduced profit Potentially lower reward

Potentially higher reward margins; the loss of patent, copyright and trademark protections;

cyclical market patterns; evolving industry standards, evolving

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7regulatory frameworks; and frequent new product introductions.

Some companies may be smaller and less experienced companies, • Historical data may not be a reliable indication for the future.

with limited product lines, markets or financial resources and fewer • The risk category shown is not guaranteed and may shift over time. experienced management or marketing personnel. They may • The lowest category does not mean 'risk free'. experience extreme price and volume fluctuations that are often

unrelated to their operating performance. The Fund is rated 7 due to the nature of its investments and its risks. The rating is calculated based on historical data and may not be a reliable

The Index is typically comprised of a mix of micro, small, mid and large indication of the Fund’s future risk profile. The risk category may shift over

capitalisation companies. Micro and small capitalisation companies time. The lowest category on the above scale does not mean “risk free”.

may be more vulnerable to adverse business or economic events than The Fund may be subject to the risks associated with companies

larger, more established companies and may underperform other operating in the renewable energy sectors including, but not limited segments of the market or the equity market as a whole. Securities of to, fluctuating energy prices which impact upon company revenues,micro and small capitalisation companies generally trade in lower weather fluctuations that impact the ability to generate electricity, thevolumes, are less liquid and are often more vulnerable to market risk that existing regulatory frameworks (the benefits of which mightvolatility and greater and more unpredictable price changes than include commitments to pay premium prices, priority access tolarger capitalisation stocks or the stock market as a whole. electricity grids, support for the necessary infrastructure investments

Other: (1) Third party service providers (such as the ICAV’s and guarantees of purchases of renewable energy output) become

depositary) may go bankrupt and fail to pay money due to the Fund less supportive and the cost of producing renewable energy which or return property belonging to the Fund. (2) If the Index provider stops can be high relative to conventional energy sources / technologies

calculating the Index or if the Fund’s license to replicate the Index is (which pose a risk to the long term economic viability of renewable

terminated, the Fund may have to be closed. (3) It may not always be energy ventures).possible to buy and sell the Fund’s Shares on a stock exchange or at The Fund may also be subject to the risks associated with companies

prices closely reflecting the Net Asset Value. (4) There is no capital developing new renewable energy technologies and other

guarantee or protection on the value of the Fund and investors can technologies associated with energy efficiency, electrification of

lose all the capital invested in the Fund. (5) Please refer to the “Risk vehicles and other modes of transport, water treatment and

Factors” section of the ICAV’s Prospectus and the Fund Supplement. purification, waste management and recycling and pollution control,

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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

*Authorised Participants dealing directly with the ICAV will pay

dealing-related transaction costs.Entry chargeNo charge

Investors who buy and sell Shares on stock exchanges are not

charged entry or exit charges by the ICAV but may be charged dealingExit charge No charge

costs and fees by their stockbroker. Please consult your stockbrokerCharges taken from the Fund over a year

and/or investment adviser for details of such fees.

The ongoing charges figure is based on expenses for the financialOngoing charges 0.45%

year ending July 2024. The ongoing charges figure excludes portfolio

transaction costs (except for transaction costs paid to the Depositary,Charges taken from the Fund under certain specific conditions

which are included).

For more information about charges, please see the “Fees, Costs andPerformance fee No charge

Expenses” and "Subscriptions and Redemptions" sections of the

ICAV’s Prospectus and the "Fees and Expenses" and “Dealing in

Shares of the Fund” sections of the Fund Supplement which are

available at: http://www.rizeetf.com

Past Performance

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• The Fund has been in existence since August 2023. This Share 0

Class has been in existence since August 2023.

• Past performance is not an indication of future performance.-1

• Past performance is calculated in USD.-2 • The performance figures include all ongoing charges and exclude any

% entry charges or exit charges.-3 -4 -5

2020202120222023

2024

Fund

-4.49

Index -4.21

Practical Information

• Fund Depositary: Northern Trust Fiduciary Services (Ireland) Limited.

• The ICAV is resident in Ireland for taxation purposes. This may have an impact on your personal tax position. Please consult your investmentor tax adviser for advice on your own tax liabilities.

• The Manager may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistentwith the relevant parts of the ICAV’s Prospectus.

• Switching of shares between this Share Class and other share classes of the Fund and/or other sub-funds of the ICAV is not permitted.

• The Fund is one of a number of sub-funds of the ICAV. The assets and liabilities of each sub-fund are segregated from each other by Irishlaw. Although the rights of investors and creditors are normally limited to the assets of each sub-fund, the ICAV is a single legal entity thatmay operate in jurisdictions which may not recognise such segregation.

• Further information about the Fund and the Share Class can be obtained from the ICAV’s Prospectus and Fund Supplement and the annualand interim financial statements (that are prepared for the ICAV as a whole), which are available in English and certain other languages, inaddition to the latest available Net Asset Value for the Share Class and details of the Fund’s portfolio, at: http://www.rizeetf.com

• Details of the Manager’s up-to-date policy in respect of remuneration, including a description of how remuneration and benefits are calculatedand the identities of the persons responsible for awarding same can be accessed from the following website: www.iqeq.com/policy-documents

• An indicative intra-day net asset value (“iNAV”) for the Share Class will be available at: http://www.rizeetf.com The ICAV 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.

This Key Investor Information is accurate as at 19 February 2025.

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