GraniteShares 3x Short Microsoft Daily ETP Purpose This document provides you with the 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. You are about to purchase a product that is not simple and may be difficult to understand. Product : GraniteShares 3x Short Microsoft Daily ETP PRIIP manufacturer: GraniteShares Financial plc Phone number: +44 (0)20 3950 1442 ISIN:XS2722160707Website: https://graniteshares.com/etps/ Regulator: EU: Central Bank of Ireland Published date:24 Mar 2025 UK: Financial Conduct Authority What is the product? Type Collateralised Exchange Traded Product (“ETP”) Securities Objectives GraniteShares 3x Short Microsoft Daily ETP (the “Product”) seeks to replicate the performance of the Solactive Daily Leveraged 3x Short Microsoft Corp Index (the “Underlying Index”) which provides a total return exposure to -3 times the daily performance of Microsoft (the “Underlying Asset”) adjusted of fees embedded in the Underlying Index and eventual market disruption events such as intraday rebalancing event. For example, if the Underlying Asset was to rise by 5% on a particular day, the Underlying Index is designed to decrease by -15% on that day (adjusted of the embedded fees index and eventual market disruption events) and the Product would seek to replicate the Underlying Index performance on that day (minus fees and eventual adjustments). For periods longer than one day, the return of the Underlying Index is not the same as the return of the Underlying Asset multiplied by the Leverage Factor. This is because the Leverage Factor is reset on a daily basis (i.e. the Leverage Factor is applied to the performance of the Underlying Asset on each day). The daily reset has a “compounding effect” which means that, the more volatile the performance of the Underlying Asset, the more the performance of the Underlying Index will deviate from the performance of the Underlying Asset (multiplied by the Leverage Factor) over a given period of time. This deviation can be positive or negative. The Product is an exchange traded product (ETP). You may trade this Product on various stock exchanges at your own discretion. You may lose the full value of your initial investment, but you will not lose more than your initial investment. The Product is backed by a swap with Natixis (the “Swap Provider”). The payment obligations of the Swap Provider to GraniteShares Financial plc are protected by collateral held in a segregated account at an independent custodian , The Bank of New York Mellon SA/NV. Intended retailThis product is intended for retail investors who: (i) have specific knowledge or experience of investing in similar products investor and in financial markets, and have the ability to understand the product and its risks and rewards; (ii) can bear the loss of capital, are not seeking to preserve capital and are not looking for capital guarantee; and (iii) have an investment horizon in line with the recommended holding period Term of the PRIIP This product does not have a fixed term. The term will depend on how long you choose to hold the product however, the scheduled maturity date is 01 July 2070 . GraniteShares Financial plc is entitled to terminate this product unilaterally. What are the risks and what could I get in return? The risk indicator assumes you hold the product for 1 day. The actual risk can vary significantly if you hold the product for a longer timeframe and you may get back less. You may not be able to sell your product easily, or may have to sell at a price that significantly 3rd Floor, 14-18, +44 (0)20 3950 1442 Great Titchfield Street, europe@graniteshares.com London,United Kingdom, graniteshares.com W1W 8BD GraniteShares 3x Short Microsoft Daily ETP impacts on how much you get back. 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 market or because we are not able to pay you. We have classified this product as 7 out of 7, which is the highest risk class. This rates the potential losses from future performance at a very high level, and poor market conditions are very likely to impact the performance. This product does not include any protection from future market performance, so you could lose some or all of your investment. If we are not able to pay you what is owed, you could lose your entire investment. Be aware of currency risk. If you receive payments in a currency different to that of your home jurisdiction, the final return you will get will depend on the exchange rate between the two currencies. This risk is not considered in the indicator shown above. Factors affecting the return of the product at the end of the recommended holding period Your return on the product at the end of the recommended holding period will principally be affected by the performance of the underlying[s] over the recommended holding period and of the exchange rate between the product currency and the currency in which you bought the product. What could affect my turn positively? A decrease in Microsoft What could affect my return negatively? An increase in Microsoft The factors listed above provide general guidance on how changes in the price of the underlying Index may affect your return. The precise impact will depend on the timing and Magnitude of these changes, and the above list should not be viewed as guaranteeing a particular outcome. See “What is this product?” for a discussion of what you will receive when you exit the product. In severely adverse market conditions, you may lose your entire investment. What happens if GraniteShares Financial plc is unable to pay out? The product is not protected by the Irish Deposit Guarantee Scheme or any other investor compensation or guarantee scheme. This means that if GraniteShares Financial plc is unable to pay out, you may lose all of your investment. Since the ability of GraniteShares Financial plc to pay out depends on receiving amounts due under the product from the Swap Provider, the Swap Provider provides assets daily to a segregated account as collateral for such obligations with a value equal to or in excess of the value of the daily price of the product. If the Swap Provider is unable to pay GraniteShares Financial plc, its ability to pay out will be limited to the amounts realised from such collateral, as further explained in the Prospectus. What are the costs? Costs over time The Reduction in Yield (RIY) illustrates the impact the total costs you pay may have on your investment return. The total costs take into account one-off, ongoing and incidental costs. The amounts shown here are the cumulative Investment $10000 If you cash in after one (1) day costs of the product itself, for the recommendedTotal costs$0.97 holding period, and assume you invest $10000. The figures are estimates and may change in theImpact on return (RIY) per day0.009699 % future. 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. Composition of costs The table below shows : - the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period; - The meaning of the different cost categories. 3rd Floor, 14-18, +44 (0)20 3950 1442 Great Titchfield Street, europe@graniteshares.com London,United Kingdom,graniteshares.com W1W 8BD GraniteShares 3x Short Microsoft Daily ETPThis table shows the impact on return per day Entry costs 0% The impact of the costs you pay when entering your investment One-off costs Exit costs 0% The impact of the costs of exiting your investment when it matures Portfolio transactionThe impact of the costs of us buying and selling underlying investments for the 0.006986% costsproduct Ongoing costs Other ongoing costs 0.002712% The impact of the costs that we take each year for managing your investments Performance fee 0% There is no performance fee Incidental costs Carried interests0% There are no carried interestsHow long should I hold the product and can I take my money out early? Recommended holding period: One (1) day Holding this product for more than one day is likely to result in a return which is different than -3times the return of the Underlying Index over that holding period.The compounding effect may have a positive or negative impact on the product's return, but tends to have a negative impact the higher the volatility of the Underlying Index. How can I complain? Complaints about the product, the conduct of GraniteShares and/or the person advising on, or selling the product, may be made:: in writing: GraniteShares Ltd., 3rd Floor, 14-18 Great Titchfield Street, London, United Kingdom, W1W 8BD via email: at europe@graniteshares.com; or on our website: : https://www.graniteshares.com/ETPs Please include as much detail as possible about your complaint, along with your name, address, contact number and a convenient time for us to call you to discuss your complaint. Other relevant information The risks set out in this document highlight some, but not all, of the risks of investing in this product. Prior to making any investment decision, you should satisfy yourself that you fully understand the risks relating to this product and seek professional advice as necessary. The full terms and conditions of the product are set out in Prospectus relating to the issue of the product as supplemented and amended from time to time. The Prospectus can be found here: https://www.graniteshares.com/ETPs 3rd Floor, 14-18, +44 (0)20 3950 1442 Great Titchfield Street, europe@graniteshares.com London,United Kingdom,graniteshares.com W1W 8BD