FIDELITY GLOBAL GOVERNMENT BOND CLIMATE AWARE UCITS ETF 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.FIDELITY GLOBAL GOVERNMENT BOND CLIMATE AWARE UCITS ETF a sub-fund of FIDELITY ICAV II FIDELITY GLOBAL GOVERNMENT BOND CLIMATE AWARE INDEX UCITS ETF GBP HEDGED ACC (ISIN: IE000QVCP9S5 ) This fund is managed by FIL Investment Management (Luxembourg) S.A.R.L. than the fund base currency. Changes in currency exchange rates Objectives and investment policy can therefore affect the value of your investment. Objective: The fund aims to provide investors with a total return,This fund is categorised in risk class 4 because, in accordance with taking into account both capital and income returns, which reflects, the investment policy, the value of the investments may fluctuate before fees and expenses, the return of the Solactive Paris Aware moderately. Consequently, both the expected return and the Global Government USD Index (the ‘‘Index’’). potential risk of loss may be average. Investment Policy: The investment policy of the fund is to track the Additional risks: liquidity, credit. performance of the Index as closely as possible, regardless ofRecommended Holding Period: This product may appeal to whether the Index level rises or falls, while seeking to minimise as investors who plan to hold their investment for a recommended far as possible the tracking error between the fund’s performance holding period of at least 3 years and that of the Index. The fund will aim to replicate the Index by holding all of the Index securities in a similar proportion to their weighting in the Index. The fund may use derivatives for efficient portfolio management and currency hedging purposes. Investment Process: The fund uses a benchmark ‘‘index tracking’’ (also known as ‘‘passive’’) investment management approach by tracking the Index. The Index is designed to reflect the performance of global local currency government bonds, issued by investment grade countries, while at the same time aiming to exhibit a level of carbon emission intensity 14% lower than the investible universe at launch and subsequently to aim for a further year-on-year decarbonisation target, currently at an average rate of 7% per annum. The Index is weighted by reference to the carbon emission targets described above, as well as other factors such as bond issuance levels, yield levels and foreign exchange rates. For more information on the Index, please refer to the publically available information on theindex provider’swebsiteat https://www.solactive.com/indices. In addition, pursuant to Fidelity’s Sustainable Investing Framework, the Investment Manager carries out norms-based screening of issuers that fail to comply or behave in line with the principles of public governance, human rights and foreign affairs, including those identified by internationally recognised country indicators. Base Currency USD Distribution: As this is a non-distributing share class, dividends are re-invested. Benchmark: Solactive Paris Aware Global Government USD Index, an index that takes into account ESG characteristics. Used for: index tracking.Risk and reward profile Lower risk Higher risk Typically lower reward Typically higher reward 1 2 3 4 5 67 Historical data may not be a reliable indication for the future. The risk category shown is not guaranteed and may change over time. The lowest category does not mean a "risk free" investment. The risk and reward profile is classified by the level of historical fluctuation of the Net Asset Values of the share class, and within this classification, categories 1-2 indicate a low level of historical fluctuations, 3-5 a medium level and 6-7 a high level. The value of your investment may fall as well as rise and you may get back less than you originally invested. The fund may invest in instruments denominated in currencies other FIDELITY GLOBAL GOVERNMENT BOND CLIMATE AWARE UCITS ETF Charges for the fund 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 This is the maximum that might be taken out of your money before it isinvested or before the proceeds of your investment are paid out. Entry Charge0.00%The ongoing charges figure is based on expenses for the year ending Exit Charge 0.00% 31/01/2025. This figure may vary from year to year. It excludes: •performance fees (where applicable); • portfolio transaction costs, The entry and exit charges shown are maximum figures. In except in the case of an entry/exit charge paid by the fund when buying some cases you might pay less - you can find this out from or selling units in another collective investment undertaking. your financial adviser / distributor. For more information about charges, including the possibility that swing Charges taken from the fund over a yearpricing may apply, please consult the most recent Prospectus.*Authorised participants dealing directly with the fund may pay an entry Ongoing Charge 0.25% charge up to 5% and an exit charge up to 3%. Although not chargeddirectly to investors who are not authorised participants, these charges Charges taken from the fund under certain specific may have an impact on brokerage fees, transaction fees and / or the conditions "bid-ask" spread. Performance fee N/A Past PerformancePast performance is not a guide to future performanceresults.If any, the past performance shown takes into accountthe ongoing charges with exception of any applicableentry/exit charges.The fund was launched on March 15, 2023. This shareclass was launched on July 26, 2023.The currency of the Fund is USD, while the currency ofthe Class is GBP. The return may increase or decreaseas a result of currency fluctuations. Practical Information Depositary: Brown Brothers Harriman Trustee Services (Ireland) Limited. This key information document describes a sub-fund of Fidelity UCITS II ICAV (the “Fund”). The prospectus and periodic reports are prepared for the entire Fund. For more information, please consult the prospectus and latest reports and accounts which may be obtained free of charge in English from FIL Investment Management (Luxembourg) S.à.r.l.., Ireland Branch. These documents and details of the remuneration policy are available via www.fidelityinternational.com. FIL Investment Management (Luxembourg) S.à.r.l.., Ireland Branch 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 of the fund. The Net Asset Value of the fund is available at the registered office of FIL Investment Management (Luxembourg) S.à.r.l.., Ireland Branch, and at www.fidelityinternational.com. The assets and liabilities of the fund are segregated by law from those of other sub-funds and there is no cross-liability among the sub-funds. You may have the right to switch from this share class into the same or possibly other share class types of another sub-fund of the Fund. Details on switching rules may be found in the Prospectus. The fund is based overseas and is not subject to UK sustainable investment labelling and disclosure requirements. The tax legislation in Ireland may have an impact on your personal tax position. For further details you should consult a tax advisor. This fund is authorised in Ireland and regulated by Central Bank of Ireland (CBI). FIL Investment Management (Luxembourg) S.A., Ireland Branch is the Irish branch of FIL Investment Management (Luxembourg) S.A., which is authorised in Luxembourg and regulated by Commission de Surveillance du Secteur Financier (CSSF). This key investor information is accurate as at 30-04-2026