Fidelity Global HY Corp Bond Research Enhanced PAB UCITS ETF Income USD (Hedged) Shares 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 Global HY Corp Bond Research Enhanced PAB UCITS ETF Income USD (Hedged) Shares 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: IE000B8VAQZ8(WKN: A3D4DH)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 Agreement’s climate targets on greenhouse gas emission Shares of a sub-fund of Fidelity UCITS II ICAV, an Undertaking for reduction. As a result of complying with these targets and the Collective Investment in Transferable Securities (UCITS). minimum technical requirements for EU Paris-aligned benchmarks,the Benchmark will be labelled as an EU Paris Aligned Benchmark. SFDR product category: Article 9 (has sustainable investment In addition, the Benchmark excludes issuers based on their objectives) - ESG Target. involvement in activities with significant externalities (tobacco, fossilfuels, controversial weapons etc.), breaches of international norms Term and with a significant negative impact on certain sustainable This fund is open-ended. The Management Company is not development goals. entitled to terminate the fund unilaterally, however, the board of The governance practices of issuers are assessed as part of the directors of Fidelity UCITS II ICAV may terminate the fund by way Benchmark construction process with the exclusion of companies of liquidation or merger. with verified failure to respect established norms.Further details regarding the Benchmark are available on the Objectives index provider’s website at www.solactive.com/indices.Base Currency: USD Objective: The fund aims to align with the Paris Agreement Additional Information: You may sell (redeem) or switch some or long-term global warming objectives by restricting the carbon all of your shares to another fund on any Valuation Day. emission exposure of its portfolio and to achieve income and Income earned by the fund is reinvested in additional shares or capital growth.paid to shareholders on request. This key information document Investment Policy: The fund invests in a portfolio primarily made describes a sub-fund of Fidelity UCITS II ICAV. A separate pool of up of high-yielding, sub-investment grade corporate debt securitiesassets is invested and maintained for each sub-fund of Fidelity of issuers globally. UCITS II ICAV. The assets and liabilities of the fund are The fund is aligned with the Paris Agreement’s climate targets on segregated from those of other sub-funds and there is no greenhouse gas emission reduction. cross-liability among the sub-funds. The fund may use derivatives for efficient portfolio managementFor more information, please consult the prospectus and latest and currency hedging purposes. reports and accounts which can be obtained free of charge in Investment Process: The fund is actively managed and referencesEnglish and other main languages from FIL Investment the Solactive Paris Aligned Global Corporate High Yield USD Index Management (Luxembourg) S.A., Ireland Branch. These documents (the “Benchmark”) as part of its investment process. The reduction and details of the Remuneration Policy are available via of carbon emission objective of the fund will be at least aligned www.fidelityinternational.com. The Net Asset Value of the fund is with the Benchmark. The fund assesses the ESG characteristics of available at the registered office of Fidelity UCITS II ICAV and at more than 90% of its assets. The fund uses a combination ofwww.fidelityinternational.com. Information regarding portfolio quantitative, fundamental and sustainability research to selectholdings and the indicative net asset value is at available at securities which are: (a) weighted with a view to maximising www.fidelityinternational.com. portfolio return relative to the Benchmark; (b) at least aligned with Depositary: Brown Brothers Harriman Trustee Services (Ireland) the carbon emission performance of the Benchmark; and (c) Limited. sustainable investments. For more information, see “Sustainable Investing Policy and ESG Integration” and the Sustainability Annex Intended retail investor sections of the Prospectus. Benchmark: Solactive Paris Aligned Global Corporate High Yield This product may appeal to investors with a basic knowledge of USD Index, an index that takes into account ESG characteristics. and no or limited experience of investing in funds, who plan to Used for: alignment of reduction of carbon emission objective of hold their investment for a recommended holding period of at the fund. least 3 years, who seek capital growth over the recommended The Benchmark tracks the performance of high yield,holding period and income; and who understand the risk of losing sub-investment grade corporate debt securities publicly issued some or all the capital invested. globally while at the same time aiming to align with the Paris 1/3 Fidelity Global HY Corp Bond Research Enhanced PAB UCITS ETF Income USD (Hedged) Shares What are the risks and what could I get in return? Risk Indicator1 23 456 7Lower riskHigher risk The risk indicator assumes you keep the product for 3 years. The actual risk can vary significantly if you cash in at the early stage and you may get back less.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 3 out of 7, which is a medium-low risk class. This rates the potential losses from future performance at a medium-low level, and poor market conditions are unlikely to 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: 3 years Example investment : USD 10,000 If you exit after 1 year If you exit after 3 years Scenarios Minimum There is no minimum guaranteed return. You could lose some or all of your investment. Stress What you might get back after costs 8,240 USD 8,580 USD Average return each year -17.6% -5.0% UnfavourableWhat you might get back after costs 8,240 USD 9,420 USD Average return each year -17.6% -2.0% ModerateWhat you might get back after costs 10,680 USD 11,340 USD Average return each year 6.8% 4.3% Favourable What you might get back after costs 12,520 USD 13,060 USD Average return each year 25.2%9.3% The stress scenario shows what you might get back in extreme market circumstances. The unfavourable scenario occurred for an investment between 09/2019 and 09/2022. The moderate scenario occurred for an investment between 02/2019 and 02/2022. The favourable scenario occurred for an investment between 02/2016 and 02/2019. 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 Global HY Corp Bond Research Enhanced PAB UCITS ETF Income USD (Hedged) Shares 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. • USD 10,000 is invested. If you exit after 1 year If you exit after 3 years Total costs 40 USD 131 USD Annual cost impact (*)0.4% 0.4% 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 4.7% before costs and 4.3% 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 USD Exit costs We do not charge an exit fee for this product. 0 USD Ongoing costs taken each year Management fees and other 0.40% of the value of your investment per year. This is an estimate based 40 USD administrative or operating costs on actual costs over the last year.0.00% 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 costs 0 USDproduct. 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 USD *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: 3 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 3:30 PM CET (2:30 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. 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=IE000B8VAQZ8&lang=en&kid=yes. Performance informationofthe productfor thepast 1yearis available at https://www.priipsdocuments.com/Fidelity/?isin=IE000B8VAQZ8&lang=en&kid=yes. 3/3