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 CIRCULAR ECONOMY ENABLERS UCITS ETF: USD Accumulating ETF ARK Invest UCITS ICAV (the "ICAV") ISIN: IE000RMSPY39 The Fund is a sub-fund of ARK Invest UCITS ICAV (the "ICAV"). Managed by IQ EQ Fund Management (Ireland0 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 Circular Economy Enablers 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 Circular Economy TRACKING METHOD. The Fund will primarily invest in the companies Enablers 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 global Index. The Fund may also invest in (1) Depositary receipts relating to the companies that are making a substantial contribution to “The companies contained in the Index and (2) financial derivative instruments Transition to a Circular Economy” objective of the EU Taxonomy of(“FDIs”) which are investments the prices of which are based on the Sustainable Activities either through (1) their own “Circular Products companies contained in the Index. and Services” (i.e. the direct provision of enabling products or DIVIDEND POLICY. This Share Class does not intend to pay dividends. services that are circular in nature and/or directly contribute to anAny income which may result from the Fund’s investments will be re- improvement in the state of the natural environment); or (2) “Enabling invested into the Fund. Products and Services” (i.e. activities that support (i.e. enable) other DEALING. Shares in this Share Class (the “Shares”) are denominated in companies (i.e. industry practitioners) to enhance circularity withinUSD and can be bought and sold on stock exchanges by ordinary their own business models). Companies are primarily weighted within investors using an intermediary (e.g. a stockbroker). In normal the Index according to their contribution to the circular economycircumstances, only Authorised Participants may buy and sell Shares objective (which is assessed by reference to the proportion of its directly with the ICAV. Authorised Participants may redeem their Shares revenues attributable to each of the 9 “R” Strategies of the ‘Circular on demand in accordance with the “Dealing Timetable” published on Economy’ hierarchy, including whether that contribution is made http://www.rizeetf.com within certain key industries that have been prioritised for circularity improvement by the European Union); and (2) their financial strength. Risk and Reward Profile Lower riskHigher riskSome 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 Potentially lower reward Potentially higher reward experience extreme price and volume fluctuations that are often unrelated to their operating performance. 1 2 3 4 5 6 7 The Index is typically comprised of a mix of micro, small, mid and large capitalisation companies. Micro and small capitalisation companies • Historical data may not be a reliable indication for the future. may be more vulnerable to adverse business or economic events than • The risk category shown is not guaranteed and may shift over time. larger, more established companies and may underperform other • The lowest category does not mean 'risk free'. segments of the market or the equity market as a whole. Securities of micro and small capitalisation companies generally trade in lower The Fund is rated 7 due to the nature of its investments and its risks. The volumes, are less liquid and are often more vulnerable to market rating is calculated based on historical data and may not be a reliable volatility and greater and more unpredictable price changes than indication of the Fund’s future risk profile. The risk category may shift over larger capitalisation stocks or the stock market as a whole. time. The lowest category on the above scale does not mean “risk free”. Other: (1) Third party service providers (such as the ICAV’s The Fund may be subject to the risks associated with (1) companies depositary) may go bankrupt and fail to pay money due to the Fund that provide products and services that are circular in nature and/oror return property belonging to the Fund. (2) If the Index provider stops directly contribute to an improvement in the state of the naturalcalculating the Index or if the Fund’s license to replicate the Index is environment (for example, companies involved in recycling activities terminated, the Fund may have to be closed. (3) It may not always be may be negatively impacted by weakened demand for their services possible to buy and sell the Fund’s Shares on a stock exchange or at as a result of waning government support for circular initiatives in the prices closely reflecting the Net Asset Value. (4) There is no capital future, or, conversely, may be negatively impacted by increased guarantee or protection on the value of the Fund and investors can competition as circular economy initiatives gain traction) and/or (1)lose all the capital invested in the Fund. (5) Please refer to the “Risk companies that provide products and services that support (i.e. Factors” section of the ICAV’s Prospectus and the Fund Supplement. 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 the companies/industries that they provide enabling services to due to idiosyncratic risks and economic challenges facing those particular companies/industries. Key Investor Information | 1 of 2ChargesThe charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reducethe potential growth of your investment. One-off charges taken before or after you invest *Authorised Participants dealing directly with the ICAV will paydealing-related transaction costs. Entry charge No charge Investors who buy and sell Shares on stock exchanges are notcharged entry or exit charges by the ICAV but may be charged dealing Exit charge No chargecosts and fees by their stockbroker. Please consult your stockbroker Charges taken from the Fund over a yearand/or investment adviser for details of such fees.The ongoing charges figure is based on expenses for the financial Ongoing charges 0.45% year ending July 2024. The ongoing charges figure excludes portfoliotransaction 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 and Performance fee No chargeExpenses” and "Subscriptions and Redemptions" sections of theICAV’s Prospectus and the "Fees and Expenses" and “Dealing inShares of the Fund” sections of the Fund Supplement which areavailable at: http://www.rizeetf.com Past Performance 1 0.9 • The Fund has been in existence since May 2023. This Share Class has been in existence since May 2023. 0.8• Past performance is not an indication of future performance. 0.7• Past performance is calculated in USD. 0.6 0.5 • The performance figures include all ongoing charges and exclude any %entry charges or exit charges. 0.4 0.3 0.2 0.1 0 2020202120222023 2024 Fund 0.02 Index 0.33Practical 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 investment or 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 inconsistent with 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 Irish law. Although the rights of investors and creditors are normally limited to the assets of each sub-fund, the ICAV is a single legal entity that may 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 annual and interim financial statements (that are prepared for the ICAV as a whole), which are available in English and certain other languages, in addition 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 calculated and 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. Key Investor Information | 2 of 2