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 Electric Vehicles & Future Mobility Screened UCITS ETF

Class USD Shares

KraneShares Electric Vehicles & Future Mobility Screened UCITS ETF (the “Fund”)

Class USD Shares (ISIN: IE000YUAPTQ0) (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 deliver the performance of companies that are

the securities of the Index with the approximate weightings that they have

engaged in or expected to derive significant revenues from the

in the Index. The Fund seeks to create a near mirror image of the Index

production of electric vehicles, their components or in other initiativesbut may, in certain circumstances purchase securities that are not

that may change the future of mobility (“Electric Vehicle Companies”).

included in the Index. The Fund does not intend to use financial derivative

The Fund is passively managed and will seek to achieve its objective by

instruments.

tracking the performance of the Bloomberg Electric Vehicles Screened Save in exceptional circumstances, the Fund will only issue and redeem

Index (Total Return version (BBEVEST)) (the “Index”). Under normal

shares of the Fund (“Shares”) to certain institutional investors. However,

circumstances, the Fund invests at least 80% of its net assets inother investors may purchase or sell Shares through brokers on one or

securities or depositary receipts representing securities of the Index. The

more stock exchanges. The Shares trade on these stock exchanges at

Index aims to represent the performance of Electric Vehicle Companies.

market prices which may fluctuate throughout the day. Market prices may

In order to be eligible for the Index, a security must (i) be a constituent of

be greater or less than the daily net asset value of the Fund. The Fund

the Bloomberg World Equity Aggregate Index (the “Base Index”); (ii)

may engage in securities lending but does not intend to use repurchase

belong to the vehicles, electric vehicle components, batteries, hydrogen agreements or total return swaps.

fuel cells, or raw materials sectors of the Base Index; (iii) have a The Fund may invest up to 10% of its net asset value in other regulated

minimum capitalisation of US$500 million; and (iv) have a 90-calendarcollective investment schemes, including other exchange traded funds.

day average daily traded value of US$5 million.

Shareholders may redeem Shares on any Business Day (as defined in

The index also screens out companies that have severe ESGthe Fund supplement) and any other day at the Directors’ discretion

controversies, violate UN Global Compact principles, or derive

provided Shareholders are notified in advance. A list of dealing days for

substantial revenue from restricted sectors like tobacco, fossil fuels, or

the Fund is published on https://kraneshares.eu/.

controversial weapons. Specifically, it removes companies which have The Fund’s base currency and the class currency of this Class is U.S.

been assessed by ESG data provider, Sustainalytics, as having theDollar. The Fund’s income will be reinvested and the Fund does not

highest controversy Level or which have breached a principle of the UN

intend to declare dividends.

Global Compact. The Fund seeks to promote a combination of ESG

Please refer to the ICAV’s prospectus and the supplement in respect of

characteristics, within the meaning of Article 8 of the

the Fund for more information.

Sustainable Finance Disclosure Regulation. The Fund seeks to hold all

Risk and reward profile

Lower riskHigher 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, regulatory issues preventing the Fund from

holding certain Index securities, transaction costs, the costs of making

Typically lower rewards

Typically higher rewardschanges to the Fund’s portfolio and other Fund expenses.

The risk category above is not a measure of capital loss or gains but of •

Emerging Market including China: Investments in emerging market

how significant the rises and falls in the Fund's return are predicted to be.including China may involve a higher risk of financial loss than

investments in more developed countries due to lower liquidity and

• The risk reward category shown is based on historic data which may possible lack of adequate, legal, social, political and economic not be a reliable indication for future performance of the Fund.

structures, protection and stability as well as uncertain tax positions.

• The risk category shown is not guaranteed and may shift over time. •

Liquidity Risk: In stressed market conditions, the nature of the Fund's

• The higher the category, the greater potential for reward, but also theassets may result in the Fund not being able to process all redemption greater the risk of losing the investment.requests in line with its usual procedures and timeframes.

• The lowest category does not mean risk free.

•

Equity Risk: The value of equity securities may go down as well as up

• The Fund is in category 7. The Fund is in this category due to the in response to the performance of individual companies and general nature of its investments and their recent price volatility. This means

market conditions, sometimes rapidly or unpredictably. If a company that the Shares may be subject to significant increases and decreases goes through bankruptcy or a similar financial restructuring, its shares in price. in issue typically lose most or all of their value.

Significant risks for the Fund not taken into account in this indicator

include the following:

•

Sustainability Risk: Sustainability factors can pose risks to

investments, for example: impact asset values, increased operational

• Concentration Risk: The Fund may invest in a relatively small

costs, unforeseen liabilities and penalties, loss of access to number of investments or concentrate its investments in a specificmarkets/customers, and reputational damage. industry sector. As a result, investments may be more volatile than a more diversified investment.

•

Index Related Risk: The Fund tracks the performance of the Index.

As a result, the net asset value of the Fund's assets is directly

• Country Concentration: As the Fund focuses its investments in adependent on the performance of the Index. Losses that could be particular economic or geographical area, issues affecting these areasavoided via active management will not be offset. will have a greater effect on the Fund than if its investments were more diversified. This concentration may also limit the Shares’ liquidity.

Page 1 of 2 • Risk related to Stock Connect Programs: The Fund may be

For full details of the relevant risks reference should be made to the

investing in China A Shares via the Shanghai – Hong Kong Stock risk factors sections of the prospectus and supplement.

Connect and the Shenzhen-Hong Kong Stock Connect which may

entail additional clearing and settlement, regulatory, operational and

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 investThe entry and exit charges shown are maximum figures. In some cases you might pay less – you can find this out from your financial Entry charge0.00%

adviser. Entry and exit charges are not applicable to investors buying/selling Exit Charge 0.00%

Shares on a stock exchange, but such investors will do so at market prices and may be subject to broker fees and/or other charges. These are the maximum charges that we might take out of your money before it is The ongoing charges figure is based on expenses for the year ended invested and before we pay out the sale proceeds of your investment. In some cases, 31 December 2025. The ongoing charges figure is an estimate based you might pay less and you should speak to your financial adviser about this. on the expected total charges. This figure may vary from year to year. Charges taken from the Fund over a year It excludes portfolio transaction costs, except in the case of an entry/exit charge by the Fund when buying or selling units in another Ongoing Charge

0.72%

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

43.8

43.9You should be aware that past performance is not a guide to future 40% performance. Performance data has been calculated including tax, ongoing charges and portfolio transaction costs and excluding entry and exit charges. 20% Fund launch date: 25/05/2022. Share class launch date: 26/05/2022 Performance is calculated in: USD -7.6

-7.2

-16.6 -18.7

20212022 2023 2024 2025Class USD SharesBloomberg Electric Vehicles Screened Index (Total Return version (BBEVEST))

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: 29/01/2026

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