CYCL RIZE CIRCULAR ECONOMY ENABLERS UCITS ETF FUND DESCRIPTION FUND DETAILS As of 31 January, 2025ETF Rize Circular Economy Enablers UCITS ETFThe Rize Circular Economy Enablers UCITS ETF (“CYCL”) seeks to Type Index Equity ETFinvest in the leading enabling companies that potentially stand tobenefit from our transition to a more circular economy. These are ISIN IE000RMSPY39companies that view the shift to a circular economy as a means of Fund Size (AUM)$1.4 Millionachieving truly sustainable growth by decoupling productive economicactivities from the linear consumption of the Earth’s finite resources TER 0.45%and thereby reducing pressure on our ecosystems and environment. Inception Date24 May 2023SFDR Classification Article 9Holdings 33WHY INVEST IN CYCL?Base Currency USDIncome Treatment Accumulating Favourable Growth Prospects: CYCL is Europe’s first circularReplication Physical - Full Replication economy enablers ETF, and provides investors with exposure to companies that stand to benefit from our transition to a Index Ticker FXBYCYCL Index circular economy. DomicileIrelandUCITSYes Powered by Sustainable Market Strategies®: CYCL is purpose-built in collaboration with Sustainable Market Strategies, an independent Exposure Global Equities ESG intelligence firm based in Montreal, Canada, and leverages theirIssuer ARK Invest UCITS ICAV unique insights and proprietary classification system of companies Promoter ARK Invest International Ltd that are aligned with “The Transition to a Circular Economy” objective of the EU Taxonomy for Sustainable Activities.Manager IQ EQ Fund Management (Ireland) LtdInvestment ManagerARK Investment Management LLC Unconstrained Approach: CYCL’s composition transcends Depositary / Custodian Northern Trust Fiduciary Services (Ireland) Ltd classic sector, size and geographic classifications by tracking a global theme. ISA Eligible (UK)YesSIPP Eligible (UK) Yes ETF Efficiency: In a single trade, CYCL delivers access to dozens Reporting Fund Status (UK) Yes of companies that are favourably positioned to ride the tailwinds Equity Fund (DE) Yes of the circular economy enablers theme. SUSTAINABILITY PROFILE As of 31 January, 2025 INVESTMENT FOCUS As of 31 January, 2025 MSCI ESG RatingAA Circular Use 32.6% Circular Design and Production25.8% Engagement and Voting: The Fund is supported by the engagement and voting programs of the Rize Future First Policy. Circular Support 25.0% Circular Value Recovery 16.2% SCREENING CRITERIA– Thermal Coal – Alcohol– Oil and Gas – Tobacco– Nuclear – Bribery & Corruption– Controversial Weapons & Firearms – UN Global Compact & OECD Guidelines Violations – Adult Entertainement – Controversies – Military Contracting – Poor Governance – Gambling info-europe@ark-invest.com |europe.ark-funds.comCYCLInformation as of 31 January, 2025 RIZE CIRCULAR ECONOMY ENABLERS UCITS ETF TRADING INFORMATION ExchangeCurrencyListing Date SEDOLBloomberg Ticker RIC Deutsche Börse XetraEUR 31-May-23BPVDV21 CIRC GY CIRCG.DE London Stock Exchange USD 31-May-23BNYD351 CYCL LN CYCL.L London Stock Exchange GBP 31-May-23BNYD3M8 CIRC LN RICIRC.L SIX Swiss Exchange CHF 05-Mar-24BNYD3N9 CYCL SE CYCL.SPERFORMANCE RETURN ETF Index Cumulative ETF Index Difference 40% Year to date 4.91% 4.89% 0.02% 1 month4.91% 4.89% 0.02% 20% 3 months 0.77% 0.76% 0.02% 0% 6 months 0.60% 0.66% -0.06% 1 year 9.71% 10.02% -0.31% -20% 24/05/2023 24/10/202324/03/2024 24/08/2024 Since Inception17.40% 18.11% -0.71% Past performance is not a reliable indicator of future results and is not guaranteed. The ETF performance is the NAV per share and is net of all fees. TOP 10 HOLDINGS TOP 10 COUNTRIES Total may not sum to 100% due to rounding Metso Oyj 4.1% United States 60.3% Darling Ingredients Inc4.0% Japan 8.8% Unifirst Corp Mass 3.9% Finland 7.3% Uss Co Ltd 3.9% Brazil6.5% Watts Water Technologies Inc3.8% United Kingdom 6.0% Badger Meter Inc3.7% France3.7% Dassault Systemes 3.7% 100.0% Kurita Water Industries 3.6% Kadant Inc 3.6% Silgan Hldgs Inc3.5% 37.8%REGISTRATIONSMARKET CAPITALISATION AustriaItaly Sweden Mega ($100B+)0.0% DenmarkLuxembourg SwitzerlandLarge ($10 - $100B) 25.4% FinlandNetherlandsUnited Kingdom Medium ($2 - $10B) 68.2% GermanyNorwaySmall ($300M - $2B) 6.2% IrelandSpain Micro ($50 - $300M) 0.2% info-europe@ark-invest.com |europe.ark-funds.com CYCL Information as of 31 January, 2025 RIZE CIRCULAR ECONOMY ENABLERS UCITS ETF RISK FACTORS – All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. – The Fund may be subject to the risks associated with (1) companies that provide products and services that are circular in nature and/or directly contribute to an improvement in the state of the natural environment (for example, companies involved in recycling activities may be negatively impacted by weakened demand for their services as a result of waning government support for circular initiatives in the future, or, conversely, may be negatively impacted by increased competition as circular economy initiatives gain traction) and/or (2) companies that provide product and services that support (i.e., enable) other companies (i.e., industry practitioners) to enhance circularity within their own business models (for example, such enabling company might be exposed to the risks of weakening demand from companies from the companies/industries that they provide enabling services to due to idiosyncratic risks and economic challenges facing those particular companies/industries. Some companies may be smaller and less experienced companies, with limited product lines, markets, or financial resources and fewer experienced management or marketing personnel. They may experience extreme price and volume fluctuations that are often unrelated to their operating performance. – The Index is typically comprised of a mix of micro, small, mid, and large capitalisation companies. Micro and small capitalisation companies may be more vulnerable to adverse business or economic events than larger, more established companies and may underperform other segments of the market or the equity market as a whole. Securities of micro and small capitalisation companies generally trade in lower volumes, are less liquid, and are often more vulnerable to market volatility and greater and more unpredictable price changes than larger capitalisation stocks or the stock market as a whole. – Other: (1) Third-party service providers (such as the ICAV’s depositary) may go bankrupt and fail to pay money due to CYCL or return property belonging to CYCL. (2) If the Index provider stops calculating the Index or if CYCL’s license to replicate the Index is terminated, CYCL may have to be closed. (3) It may not always be possible to buy and sell CYCL’s Shares on a stock exchange or at prices closely reflecting the Net Asset Value. (4) There is no capital guarantee or protection on the value of CYCL and investors can lose all the capital invested in CYCL. (5) Please refer to the “Risk Factors” section of the ICAV’s Prospectus and the Fund Supplement. Marketing Communication / Financial Promotion: Communications issued in the European Economic Area (“EEA”): This marketing communication has been issued by IQ EQ Fund Management (Ireland) Limited (“IQ EQ”) acting in its capacity as management company of ARK Invest UCITS ICAV (“ARK Invest”). IQ EQ is authorised and regulated by the Central Bank of Ireland. IQ EQ is registered in Ireland with registration number 148223. Communications issued in jurisdictions outside of the EEA: This marketing communication has been issued by ARK Invest International Ltd (“ARK UK”) which is an Appointed Representative of Aldgate Advisors Limited, a firm authorised and regulated by the Financial Conduct Authority (FCA FRN 763187). ARK UK is registered in England and Wales with registration number 11770079. This is a marketing communication. This is not a contractually binding document. Please refer to the prospectus, Fund-specific supplement and Key Investor Information Document (the “KIID”) or Key Investor Document (the “KID”) (as relevant) of the relevant Fund and do not base any final investment decision on this communication alone. You should seek professional investment advice before making any decision to invest in a Fund. This marketing communication is not being provided to you on the basis that you are a client of IQ EQ or ARK UK. Neither IQ EQ nor ARK UK is acting on your behalf and neither entity is responsible for providing protections that would otherwise be afforded to clients of IQ EQ or ARK UK. This marketing communication is for information purposes only. Its contents, and the fact of its distribution, do not constitute investment advice, nor do they constitute tax, legal or any other form of advice or service. It does not constitute or form part of any offer to issue or sell, or the solicitation of any offer to buy or sell any investment. It shall not form the basis of, or be relied upon in connection with, any contract. Information and opinions contained herein have been compiled from sources believed to be reliable but neither IQ EQ nor ARK UK nor any of their respective partners makes any representations as to its accuracy or completeness. Any opinions, forecasts or estimates herein constitute a judgement that is subject to change without notice. IQ EQ and ARK UK disclaim all liability and responsibility arising from any reliance placed by any person on the information contained within this marketing communication. Where past performance and projected performance information is shown, it must be noted that past performance and projected performance is not a reliable indicator of future performance. Simulated past performance does not represent actual past performance and is not a reliable indicator of future performance. The Rize Circular Economy Enablers UCITS ETF replicates the Foxberry SMS Circular Economy Enablers Index. An investment in the Fund involves significant risk and is subject to the volatility of companies that provide circular products and services (e.g. recycling activities) or products and services that support other companies to enhance circularity within their own businesses. Capital at Risk Warning – Please note that the value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested. If your investment currency is different to the Funds’ currency of denomination (USD) or the currencies in which the Funds’ assets are denominated (which may be a range of different global currencies), then the return you will get from your investment may increase or decrease as a result of currency fluctuations between your investment currency and such currencies. The Funds referred to in this marketing communication are offered by ARK Invest UCITS ICAV (“ARK Invest”). ARK Invest is an open-ended Irish collective asset management vehicle which is constituted as an umbrella fund with variable capital and segregated liability between its sub-funds (each, a “Fund”) and registered in Ireland with registration number C193010 and authorised by the Central Bank of Ireland as a UCITS. ARK Invest is managed by IQ EQ Fund Management (Ireland) Limited (“IQ EQ”). The prospectus (including the Fund-specific supplements and other supplements), the KIIDs/KIDs the constitutional document of ARK Invest and the latest annual and semi-annual reports of ARK Invest, the latest Net Asset Values of the Funds and details of the underlying investments of the Funds (together, the “Fund Information”) are available at https://europe.ark-funds.com/. Any decision to invest must be based solely on the Fund Information. Investors should read the Fund-specific risks in ARK Invest’s prospectus, Fund-specific supplements and the KIIDs/KIDs. The indicative intra-day net asset values of the Funds are available at http://www.solactive.com. The Funds are not offered or aimed at residents in any country in which (a) ARK Invest and the Funds are not authorised or registered for distribution and where to do so is contrary to the relevant country’s securities laws, (b) the dissemination of information relating to ARK Invest and the Funds via the internet is forbidden, and/or IQ EQ or ARK UK are not authorised or qualified to make such offer or invitation. The Funds may be registered or otherwise approved for distribution to the public or certain categories of investors in one or more jurisdictions. Where this is the case, a country-specific web page and copies of the Fund Information will be available at https://europe.ark-funds.com/. The fact of such a registration or approval, however, does not mean that any regulator (including the FCA) has determined that the Funds are suitable for all categories of investors. United Kingdom: This is a financial promotion. For the purposes of the United Kingdom Financial Services and Markets Act 2000 (“FSMA”), ARK Invest is a UCITS that has been recognised by the Financial Conduct Authority (the “FCA”) pursuant to s.264 of the UK Financial Services and Markets Act 2000. The Fund Information is available in English free of charge upon request from the Facilities Agent in the United Kingdom, FE fundinfo (UK) Limited, Unit 1.1, First Floor, Midas House, 62 Goldsworth Road, Woking, Surrey, GU21 6LQ, England. Germany: This is a financial promotion. The offering of the Shares of ARK Invest has been notified to the German Financial Services Supervisory Authority (BaFin) in accordance with section 310 of the German Investment Code (KAGB). The Fund Information in English (and the KIDs in German language) can be obtained free of charge upon request from the Facilities Agent in Germany, FE fundinfo (Luxembourg) S.à.r.l., by contacting fa_gfr@fefundinfo.com or in paper form at the Facilities Agent’s registered office, being 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg. Switzerland: This is an advertising document. The state of the origin of the fund is Ireland. In Switzerland, the Representative in Switzerland is 1741 Fund Solutions AG, Burggraben 16, CH-9000 St. Gallen. The Paying Agent in Switzerland is Tellco AG, Bahnhofstrasse 4, 6430 Schwyz. The Fund Information may be obtained free of charge from the Representative. Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units in the Fund. Austria: This is a marketing communication and serves exclusively as information for investors. Under no circumstances may it replace advice regarding the acquisition and disposal of investments which may result in a total loss of the investment. The Fund Information in English (and the KIDs in German language) can be obtained free of charge upon request from the Facilities Agent in Austria, FE fundinfo (Luxembourg) S.à.r.l., by contacting fa_gfr@fefundinfo.com. United States: This marketing communication and its contents are not directed at any person that is resident in the United States (“US person”), and no offer or invitation is made to any US person to acquire or sell any service, product or security referred to. The provision of any information in this marketing communication does not constitute an offer to US persons to purchase securities. ARK Invest Europe info-europe@ark-invest.com| europe.ark-funds.com | 70 Gracechurch Street. London, EC3V 0HR, United Kingdom