Title: Class EUR Dist URL Source: https://api.kneip.com/v1/documentdata/permalinks/PRP_IE0007Z19996_en_IE.pdf Number of Pages: 3 Markdown Content: Page 1/3 | Key Information Document | 3 June 2026 # 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 # Pictet AI Enhanced European Equity UCITS ETF # a sub-fund of Pictet ICAV Class EUR Dist (IE0007Z19996) Pictet AI Enhanced European Equity UCITS ETF is authorised in Ireland and regulated by the Central Bank of Ireland. The PRIIPs Manufacturer and the Management Company is Waystone Management Company (IE) Limited which is authorised in Ireland and supervised by the Central Bank of Ireland. For more information on this product, please refer to https://funds.waystone.com/public or call +353 (0)16192300. Accurate as of: 3 June 2026 # What is this product? ## Type This is an investment fund established as an Irish Collective Asset-Management Vehicle (ICAV). ## Objectives Investment objective Pictet AI Enhanced European Equity UCITS ETF (the "Fund") seeks long-term capital appreciation. Investment policies The Fund is an actively managed UCITS ETF which seeks to achieve its objective by investing in a diversified portfolio of Equity and Equity-Related Securities of companies located in 15 developed market countries in Europe. Such developed markets shall be as defined by the Index Provider. The Fund will not be concentrated on any specific industry or sectors. The Fund may invest in Equity and Equity-Related Securities of any market capitalisation of companies listed in the MSCI Europe Index (the "Index"). The Fund may hold some securities which are not underlying constituents of the Index where such equity and equity related securities provide similar performance (with matching risk profile) to certain securities that make up the Index but are considered by the Investment Manager to present a better investment opportunity. However, from time to time the Fund may hold all constituents of the Index. The Fund may also use financial derivative instruments, namely index futures (for liquidity management and efficient portfolio management purposes) and warrants (for investment purposes). The Index represents the large and mid-cap segment across European developed market countries, covering approximately 85% of the free float-adjusted market capitalisation across the European developed markets equity universe. Under normal market conditions, at least 80% of the Fund's net assets will be invested in European Equity and Equity-Related Securities of companies that are constituents of the Index. The Fund is expected to have a 40-50% active share versus the Index, meaning that approximately 40-50% of the Fund's portfolio is expected to differ from the Index in terms of the securities held and/or their weightings. Benchmark The Fund's benchmark is the MSCI Europe Index. The Fund is actively managed, meaning that it does not intend to replicate the Index but tries to exceed its performance. The Fund is not constrained by the Index. The Index is used for comparison purposes only. Redemption and Dealing You may buy or sell shares on any Business Day (Switzerland and Ireland), although some days may not be available where relevant markets are closed or public holidays apply in certain jurisdictions. You must submit your application before 2:30 p.m. (Irish time) on the relevant Dealing Day. Distribution Policy Dividends will be distributed from distributing share classes in line with the Prospectus of the Fund. Launch date This Fund has yet to launch. Fund Currency The reference currency of the Fund and share class is EUR. Conversion of shares Shareholders will be able to apply to exchange all or part of their holding of shares of any class in any sub-fund for shares in another class. For more detailed explanation, please refer to the Prospectus. Asset Segregation The Fund is a sub-fund of Pictet ICAV, which comprises other sub-funds. The assets and liabilities of each sub-fund are segregated within the same Fund and/or, as the context requires, between share classes in different sub-funds of Pictet ICAV. ## Intended retail investor This product is intended for investors who plan to stay invested for at least 5 years and are prepared to take on a medium level of risk of loss to their original capital in order to get a higher potential return. It is designed to form part of a portfolio of investments. ## Term The Fund is open-ended and has no maturity date. Subject to the liquidation, dissolution and termination rights of the board of the ICAV as set forth in the ICAV prospectus, the Fund cannot be automatically terminated. The PRIIP manufacturer, Waystone Management Company (IE) Limited, is not entitled to terminate the product unilaterally. ## Practical information Depositary The fund depositary is Brown Brothers Harriman Trustee Services (Ireland) Limited. Further information Further information about Pictet ICAV, copies of its prospectus, annual and half-yearly reports may be obtained free of charge in English at the offices of the Manager at any time during normal business hours. Other practical information including the latest share prices are available at the registered office of the Management Company and the Administrator during normal business hours and will be published on the website https://www.waystone.com. Page 2/3 | Key Information Document | 3 June 2026 # What are the risks and what could I get in return? ## Risk Indicator Lower risk Higher risk # 1 2 3 4 5 6 7 The risk indicator assumes you keep the product for 5 years. 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 4 out of 7, which is a medium risk class. This rates the potential losses from future performance at a medium level, and poor market conditions could impact the capacity of the Fund to pay you. This product does not include any protection from future market performance so you could lose some or all of your investment. If the Fund is not able to pay you what is owed, you could lose your entire investment. Be aware of currency risk. You may 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. Beside the risks included in the risk indicator, other risks may affect the fund performance. Please refer to the fund prospectus, available free of charge at www.waystone.com/. ## 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 a comparable benchmark over the last 10 years. Markets could develop very differently in the future. The stress scenario shows what you might get back in extreme market circumstances. Unfavourable : this type of scenario occurred for an investment between 29 September 2017 and 30 September 2022. Moderate : this type of scenario occurred for an investment between 30 September 2016 and 30 September 2021. Favourable : this type of scenario occurred for an investment between 30 October 2020 and 31 October 2025. Recommended holding period 5 years Example Investment 10,000 EUR Scenarios If you exit after 1 year If you exit after 5 years (recommended holding period) Minimum There is no minimum guaranteed return. You could lose some or all of your investment. Stress What you might get back after costs Average return each year 4,169 EUR -58.3% 3,789 EUR -17.6% Unfavourable What you might get back after costs Average return each year 8,369 EUR -16.3% 9,803 EUR -0.4% Moderate What you might get back after costs Average return each year 10,542 EUR 5.4% 12,801 EUR 5.1% Favourable What you might get back after costs Average return each year 13,831 EUR 38.3% 16,590 EUR 10.7% # What happens if Waystone Management Company (IE) Limited is unable to pay out? The Management Company has no obligation to pay out since the Fund design does not contemplate any such payment being made. You are not covered by any national compensation scheme. To protect you, the assets are held with a separate company, a depositary. Should the Fund default, the depositary would liquidate the investments and distribute the proceeds to the investors. In the worst case, however, you could lose your entire investment. # What are the costs? The person advising on or selling you this product may charge you other costs. If so, this person will provide you with information about these costs and how they affect your investment. ## 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: Pictet AI Enhanced European Equity UCITS ETF, a sub-fund of Pictet ICAV – Class EUR Dist (IE0007Z19996) Page 3/3 | Key Information Document | 3 June 2026 > Q 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, > Q 10,000 EUR is invested. If you exit after 1 year If you exit after 5 years Total Costs 31 EUR 171 EUR 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 5.4% before costs and 5.1% after costs. ## Composition of costs One-off costs upon entry or exit If you exit after 1 year Entry costs 0.00% , we do not charge an entry fee. 0 EUR Exit costs 0.00% , we do not charge an exit fee for this product, but the person selling you the product may do so. 0 EUR Ongoing costs taken each year If you exit after 1 year Management fees and other administrative or operating costs 0.25% of the value of your investment per year. This is an estimate based on actual costs over the last year. 25 EUR Transaction costs 0.06% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell. 6 EUR Incidental costs taken under specific conditions If you exit after 1 year Performance fees There is no performance fee for this product. 0 EUR # How long should I hold it and can I take money out early? Recommended holding period: 5 years This product is designed for long-term investments; you should be prepared to stay invested for at least 5 years. However, you can redeem your investment without penalty at any time during this period, or hold the investment longer. You may buy or sell shares on any Business Day, although some days may not be available where relevant markets are closed or public holidays apply in certain jurisdictions. You must submit your application before 2:30 p.m. (Irish time) on the relevant Dealing Day. # How can I complain? You can send your complaint to the Management Company as outlined at https://www.waystone.com/waystone-policies or at the following postal address: 35 Shelbourne Rd, Ballsbridge, Dublin, D04 A4E0, Ireland or by e-mail to complianceeurope@waystone.com. If you have a complaint about the person that advised you about this product, or who sold it to you, they will tell you where to complain. # Other relevant information Cost, performance and risk The cost, performance and risk calculations included in this key information document follow the methodology prescribed by EU rules. Performance scenarios You can find previous performance scenarios updated on a monthly basis at https://funds.waystone.com/public. Past performance There is insufficient performance data available to provide a chart of annual past performance. Additional information The details of the up-to-date remuneration policy of the Management Company, including, but not limited to, a description of how remuneration and benefits are calculated, the identity of the persons responsible for awarding the remuneration and benefits, including the composition of the remuneration committee, are available on https://www.waystone.com or a paper copy will be made available free of charge upon request. This Fund is subject to tax laws and regulations of Ireland. Depending on your home country of residence, this might have an impact on your investment. For further details, please speak to your adviser. Pictet AI Enhanced European Equity UCITS ETF, a sub-fund of Pictet ICAV – Class EUR Dist (IE0007Z19996)