FIDELITY ESG USD EM BOND 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 ESG USD EM BOND UCITS ETF a sub-fund of FIDELITY ICAV II FIDELITY ESG USD EM BOND UCITS ETF ETF INC (ISIN: IE00BM9GRP64 ) This fund is managed by FIL Investment Management (Luxembourg) S.A.R.L.Objectives and investment policy Risk and reward profile Objective: The fund aims to achieve income and capital growth.Lower risk Higher risk Investment Policy: The fund invests in a portfolio primarily made up of debt securities denominated in USD issued by governments and government agencies of emerging market countries. The fund Typically lower reward Typically higher reward promotes environmental and social characteristics by aiming to achieve an ESG score of its portfolio greater than the ESG score of the Benchmark. The fund may use derivatives for efficient portfolio management and currency hedging purposes. 1 2 3 4 56 7 Investment Process: The fund is actively managed and references Historical data may not be a reliable indication for the future. The the Benchmark (as defined below) as part of its investment process. risk category shown is not guaranteed and may change over time. The fund uses fundamental research and quantitative techniques as well as its own ESG assessment to select securities which are The lowest category does not mean a "risk free" investment. The weighted with a view to delivering positive returns relative to the risk and reward profile is classified by the level of historical Benchmark and improving the portfolio’s overall ESG score. On an fluctuation of the Net Asset Values of the share class, and within ongoing basis, the fund will consider a wide range of environmental this classification, categories 1-2 indicate a low level of historical and social characteristics such as carbon intensity, carbon fluctuations, 3-5 a medium level and 6-7 a high level. emissions, energy efficiency, water and waste management, The value of your investment may fall as well as rise and you may biodiversity, product safety, supply chain, health and safety and get back less than you originally invested. human rights. For more information, see “Sustainable Investing andThe fund may invest in instruments denominated in currencies other ESG Integration” and the Sustainability Annex sections of the than the fund base currency. Changes in currency exchange rates Prospectus. can therefore affect the value of your investment. Base Currency USD This fund is categorised in risk class 4 because, in accordance with Distribution: Income earned by the fund is reinvested in additional the investment policy, the value of the investments may fluctuate shares or paid to shareholders on request.moderately. Consequently, both the expected return and the Benchmark: JP Morgan ESG EMBI Global Diversified Index (the potential risk of loss may be average. ‘‘Benchmark’’) Used for: investment selection, risk monitoring, Additional risks: liquidity. performance and carbon footprint comparison. The BenchmarkRecommended Holding Period: This product may appeal to tracks emerging market fixed and floating-rate debt instruments investors who plan to hold their investment for a recommended that are denominated in US Dollars and issued by sovereign andholding period of at least 3 years. quasi-sovereign entities. The Benchmark applies ESG screens as part of its methodology. The fund holds a portfolio of securities which is systematically selected and managed with the aim of outperforming the Benchmark; however, the Investment Manager will only invest in securities which are part of the Benchmark and will consider the Benchmark, when selecting investments for the fund and for the purposes of monitoring risk. While the fund invests in securities included in the Benchmark in different proportions to the Benchmark, the Benchmark constituents are generally representative of the fund’s portfolio. This means that both the fund’s portfolio and performance is unlikely to vary significantly from those of the Benchmark, however the fund aims to outperform the Benchmark over the long term. FIDELITY ESG USD EM BOND 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 0.45% 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 25, 2021. This shareclass was launched on March 25, 2021.Past performance has been calculated in USD 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 tax legislation in Ireland may have an impact on your personal tax position. For further details you should consult a tax advisor. The fund is based overseas and is not subject to UK sustainable investment labelling and disclosure requirements. This fund is authorised in Ireland and regulated by Central Bank of Ireland (CBI). FIL Investment Management (Luxembourg) S.à.r.l., Ireland Branch is the Irish branch of FIL Investment Management (Luxembourg) S.à.r.l., 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