Fidelity Japan Equity Research Enhanced UCITS ETF Inc Key Information Document Purpose This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. Product Fidelity Japan Equity Research Enhanced UCITS ETF Inc Management Company: FIL Investment Management (Luxembourg) Central Bank of Ireland (CBI) is responsible for supervising FIL S.A., Ireland Branch Investment Management (Luxembourg) S.A., Ireland Branch in ISIN: IE000B5UZSG9 relation to this key information document. www.fidelity.luThis PRIIP is authorised in Ireland. Call +352 250 4041 for further information.FIL Investment Management (Luxembourg) S.A., Ireland Branch is FIL Investment Management (Luxembourg) S.A., Ireland Branch is a the Irish branch of FIL Investment Management (Luxembourg) S.A., member of the Fidelity group of companies which is authorised in Luxembourg and regulated by Commissionde Surveillance du Secteur Financier (CSSF).Publication date: 18/02/2025 What is this product? Type performance and carbon footprint comparison. Shares of a sub-fund of Fidelity UCITS ICAV, an Undertaking forThe fund has limited discretion in choosing investments relative to Collective Investment in Transferable Securities (UCITS). the Benchmark. It may invest in securities not included in the SFDR product category: Article 8 (promotes environmental, social Benchmark and in different proportions to the Benchmark in order and governance ("ESG") characteristics) - ESG Tilt.to take advantage of investment opportunities; however, theBenchmark constituents are generally representative of the fund’s Term portfolio. This means that both the fund’s portfolio and This fund is open-ended. The Management Company is not performance is unlikely to vary significantly from those of the entitled to terminate the fund unilaterally, however, the board of Benchmark. directors of Fidelity UCITS ICAV may terminate the fund by way of Base Currency: JPY liquidation or merger. Additional Information: You may sell (redeem) or switch some orall of your shares to another fund on any Valuation Day. Objectives Income earned by the fund is reinvested in additional shares orpaid to shareholders on request. This key information document Objective: The fund aims to achieve long-term capital growth from describes a sub-fund of Fidelity UCITS ICAV. A separate pool of a portfolio primarily made up of equity securities of companies in assets is invested and maintained for each sub-fund of Fidelity Japan. UCITS ICAV. The assets and liabilities of the fund are segregated Investment Policy: The fund invests primarily in equities of from those of other sub-funds and there is no cross-liability among companies domiciled, or exercising the predominant part of their the sub-funds. economic activity, in Japan. The fund aims to outperform the For more information, please consult the prospectus and latest Benchmark by a target of 1% annualised gross returns over areports and accounts which can be obtained free of charge in period of 5 years or more. The fund may use derivatives forEnglish and other main languages from FIL Investment efficient portfolio management and currency hedging purposes. Management (Luxembourg) S.A., Ireland Branch. These documents Investment Process: The fund is actively managed and referencesand details of the Remuneration Policy are available via the Benchmark (as defined below) as part of its investment www.fidelityinternational.com. The Net Asset Value of the fund is process. The fund uses a quantitative approach to deliver aavailable at the registered office of Fidelity UCITS ICAV, and at portfolio of investments that are usually focused on the highest www.fidelityinternational.com. Information regarding portfolio conviction stock recommendations identified by the Investment holdings and the indicative net asset value is available at Manager’s research analysts. On an ongoing basis, the fund willwww.fidelityinternational.com. consider a wide range of environmental and social characteristics Depositary: Brown Brothers Harriman Trustee Services (Ireland) such as carbon intensity, carbon emissions, energy efficiency, Limited. water and waste management, biodiversity, product safety, supply chain, health and safety and human rights. The fund aims toIntended retail investor achieve an ESG score of its portfolio greater than that of its Benchmark. For more information, see “Sustainable Investing Policy This product may appeal to investors with a basic knowledge of and ESG Integration” and the Sustainability Annex sections of the and no or limited experience of investing in funds, who plan to Prospectus.hold their investment for a recommended holding period of at Benchmark: MSCI Japan (Net Total Return) Index (theleast 5 years, who seek capital growth over the recommended ‘‘Benchmark’’), an index that does not take into account ESG holding period and income; and who understand the risk of losing characteristics. Used for: investment selection, risk monitoring, some or all the capital invested. 1/3 Fidelity Japan Equity Research Enhanced UCITS ETF Inc What are the risks and what could I get in return? Risk Indicator 1 234 56 7 Lower riskHigher riskThe risk indicator assumes you keep the product for 5 years.The actual risk can vary significantly if you cash in at the early stage and you may get back less.You may not be able to cash in early. You may have to pay significant extra costs to cash in early. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you. We have classified this product as 5 out of 7, which is a medium-high risk class. This rates the potential losses from future performance at a medium-high level, and poor market conditions will likely impact the capacity to pay you. Be aware of currency risk. You will receive payments in a different currency, so the final return you will get depend on the exchange rate between the two currencies. This risk is not considered in the indicator shown above. Additional risks: liquidity. This product does not include any protection from future market performance so you could lose some or all of your investment. If FIL Investment Management (Luxembourg) S.A., Ireland Branch is not able to pay you what is owed, you could lose your entire investment. Performance scenarios The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product or a suitable benchmark over the last 10 years. Markets could develop very differently in the future. Recommended holding period: 5 years Example investment : JPY 1,000,000 If you exit after 1 year If you exit after 5 years Scenarios Minimum There is no minimum guaranteed return. You could lose some or all of your investment. StressWhat you might get back after costs 169,910 JPY 186,410 JPY Average return each year-83.0%-28.5% Unfavourable What you might get back after costs 763,940 JPY 979,410 JPY Average return each year-23.6% -0.4% Moderate What you might get back after costs1,094,480 JPY 1,471,750 JPY Average return each year 9.4% 8.0% FavourableWhat you might get back after costs1,426,580 JPY 2,077,660 JPY Average return each year 42.7% 15.7% The stress scenario shows what you might get back in extreme market circumstances. The unfavourable scenario occurred for an investment between 07/2015 and 07/2020. The moderate scenario occurred for an investment between 03/2017 and 03/2022. The favourable scenario occurred for an investment between 05/2019 and 05/2024. What happens if FIL Investment Management (Luxembourg) S.A., Ireland Branch is unable to pay out? The assets and liabilities of this product are segregated from those of FIL Investment Management (Luxembourg) S.A., Ireland Branch. There is no cross-liability between these entities, and the product would not be liable if FIL Investment Management (Luxembourg) S.A., Ireland Branch or any delegated service provider were to fail or default. Shares of this product are traded on a stock market and settlement of such transactions are not affected by the position of FIL Investment Management (Luxembourg) S.A., Ireland Branch. This product does not participate in an investor compensation scheme. 2/3 Fidelity Japan Equity Research Enhanced UCITS ETF Inc What are the costs? The person selling you or advising you about this product may charge you other costs. If so, this person will provide you with information about these costs, and show you the impact that all costs will have on your investment over time. Costs over Time The tables show the amounts that are taken from your investment to cover different types of costs. These amounts depend on how much you invest, how long you hold the product and how well the product does. The amounts shown here are illustrations based on an example investment amount and different possible investment periods. We have assumed: • In the first year you would get back the amount that you invested (0% annual return). For the other holding periods we have assumed the product performs as shown in the moderate scenario. • JPY 1,000,000 is invested. If you exit after 1 year If you exit after 5 years Total costs 2,816 JPY 17,860 JPY Annual cost impact (*)0.3% 0.3% each year (*)This illustrates how costs reduce your return each year over the holding period. For example it shows that if you exit at the recommended holding period your average return per year is projected to be 8.3% before costs and 8.0% after costs. Composition of Costs One-off costs upon entry or exit If you exit after 1 year Entry costsWe do not charge an entry fee. 0 JPY Exit costs We do not charge an exit fee for this product. 0 JPY Ongoing costs taken each year Management fees and other 0.25% of the value of your investment per year. This is an estimate based 2,507 JPY administrative or operating costs on actual costs over the last year.0.03% of the value of your investment per year. This is an estimate of thecosts incurred when we buy and sell the underlying investments for the Transaction costs309 JPYproduct. The actual amount will vary depending on how much we buyand sell. Incidental costs taken under specific conditions Performance fees There is no performance fee for this product. 0 JPY *Authorised participants dealing directly with the fund may pay an entry charge up to 5% and an exit charge up to 3%. Although not charged directly to investors who are not authorised participants, these charges may have an impact on brokerage fees, transaction fees and/or the "bid-ask" spread. How long should I hold it and can I take money out early? Recommended holding period: 5 years The recommended holding period is based on our assessment of the risk and reward characteristics and costs of the product. Order Processing: The shares are listed and traded on various stock exchanges. Investors who are not authorised participants can generally only buy or sell the shares on those stock exchanges at the then prevailing market price. In normal circumstances, authorised participants may buy and sell shares directly with the fund, by submitting orders by 5:00 PM CET (4:00 PM Irish time) on the Business Day that is prior to the relevant Dealing Day. Such orders are ordinarily processed at the NAV for that Dealing Day. How can I complain? If you wish to make a complaint about this product or the conduct of FIL Investment Management (Luxembourg) S.A., Ireland Branch please visit www.fidelityinternational.com. Alternatively, write to FIL Investment Management (Luxembourg) S.A., Ireland Branch, George’s Quay House, 43 Townsend Street, Dublin 2, Ireland or fidelity.ce.crm@fil.com. If you have a complaint about the person who advised you about this product, or who sold it to you please contact them for their complaints process. Other relevant information You may find the prospectus, statutes, key investor documents, notices to investors, financial reports, and further information documents relating to the product including various published policies of the product on our website www.fidelityinternational.com. You may also request a copy of such documents at the registered office of FIL Investment Management (Luxembourg) S.A., Ireland Branch. (to be redesignated as FIL Investment Management (Luxembourg) S.a.r.l., Ireland Branch on or around March 2025) Further information in respect of the past performance of the product including previous performance scenario calculations which are published monthly may be found at https://www.priipsdocuments.com/Fidelity/?isin=IE000B5UZSG9&lang=en&kid=yes. Performance informationofthe productfor thepast 1yearis available at https://www.priipsdocuments.com/Fidelity/?isin=IE000B5UZSG9&lang=en&kid=yes. 3/3