Key Information Document 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 productsProduct Janus Henderson USD Mortgage-Backed Securities Active Core UCITS ETF - USD Dist - IE000RH1ZG27The manufacturer of this PRIIP is Waystone Management Company (IE) Limited. The fund is authorised in Ireland and regulated by the Central Bank of Ireland (“CBI”). The FCA is responsible for supervising Tabula Investment Management Limited in relation to this Key Information Document. The Investment Manager Janus Henderson Investors UK Limited is authorised and regulated by the FCA. The management company for the fund is Waystone Management Company (IE) Limited, a company established in Ireland and authorised by the CBI. For more information on the product please refer to www.tabulaim.com or call +44 0203 909 4700. This document was published on 1 September 2025 You are about to purchase a product that is not simple and may be difficult to understandWhat is this product? Type Shares of a sub-fund of Janus Henderson ICAV, an Irish Collective Asset-management Vehicle, composed of sub-funds qualifying as UCITS and organized under the laws of the Republic of Ireland.Objectives Term The Sub-Fund aims to provide total return over the long term from a This investment has no maturity date. The Manufacturer has the combination of income and capital growth by investing predominantly right to terminate the product in a limited number of circumstances, in an actively managed portfolio of mortgage-related fixed incomeas set out in the Prospectus. instruments of varying maturities. The Bloomberg US Mortgage Backed Securities (MBS) Inde broadly representative of the investments which the Sub-Fund may make and is used for performance comparison purposes only. The Sub-Fund is actively managed and does not seek to replicate the composition or performance of an index. Under normal circumstances, the Sub-Fund will invest at least 80% of its net assets in a portfolio of mortgage- related fixed income instruments of varying maturities and at least Redemption and Dealing Shares: You can purchase or sell units in 80% of its net assets in mortgage-related fixed income instruments, the Sub-Fund on any business day as further specified in the being MBS and CMOs, issued by the U.S. government and its Supplement. agencies. Mortgage-related fixed income instruments include residential and commercial mortgage-backed securities (“MBS”), collateralized mortgage obligations (“CMOs”), stripped mortgage- backed securities, mortgage pass-through securities, credit risk transfer securities (“CRTs”), and To be Announced (or “TBA”) commitments. Investments in mortgage-related fixed income instruments other than those issued by the U.S. government and its Distribution Policy: The Sub-Fund can launch both accumulating and agencies will be limited to 10%. Included in this aggregate 10% limitdistributing share classes. Please refer to are CRTs and non-agency CMOs. Investments in any other types of www.tabulaim.com/documents and search “dividend calendar” for asset-backed securities will be limited to 10% of the Sub-Fund’s net further information. assets. This may include assets backed by car loans, credit cards, equipment leases and consumer loans. Investments in Reg-S and Rule 144A Securities will be limited to 20% of the Sub-Fund’s net assets. In addition to its investments in mortgage-related fixed income instruments, the Sub-Fund will from time to time also invest in certain other fixed-income securities, typically fixed or floating rate grade Intended Retail Investor corporate bonds and/or hold cash and cash-equivalents. The Sub- Fund will invest at least 80% in securities rated investment grade. The Intended Retail Investor: The Fund is intended for well-informed Sub-Fund may also invest in lower-rated securities The Sub-Fund investors aiming to invest over the long term, who are able to make invests only in U.S. dollar denominated securities. The Sub-Fund will an informed investment decision based on this document and the not invest more than 10% of its Net Asset Value in Eligible Collective Prospectus, have a risk appetite consistent with the risk indicator Investment Schemes. Derivatives- namely Treasury futures, interest rate swaps, interest rate options, swaptions and index credit default below and understand that there is no capital guarantee protection swaps - may be used for the purposes of hedging/risk reduction(100% of capital is at risk). The Fund is not intended for Basic specifically interest rate, duration and credit risk. The Fund is neither Investors as defined under the MIFID 2 regulations an Article 8 nor an Article 9 fund for the purposes of SFDR. Page 1 of 3 | Key Information Document | 1 September 2025 What are the risks and what could I get in The risk indicator assumes you keep the product for 5 years. The actual risk can vary significantly if you cash in at an early return? stage and you may get back less. You may not be able to sell your product easily or you may have to sell at a price that significantly impacts on how much you get back. Be aware of currency risk. In some circumstances, you may receive Lower risk Higher risk payments in a different currency, so the final return you will get may depend on the exchange rate between the two currencies. Typically Lower Rewards Typically Higher Rewards This risk is not considered in the indicator shown above. The Sub-Fund has been rated as a 3 due to the nature of its investments and frequency of price movements which includes the following. This rates the potential losses from future performance at a medium level and poor market conditions could impact the capacity of the Sub-Fund to pay you. No capital protection: The value of your investment may go down as well as up and you may not get back the amount you invested. Details of all relevant risks can be found in the prospectus and supplement, available at www.tabulaim.com.Performance Scenarios The figures shown include all the costs of the product itself (the ongoing costs of the representative share class) but may not include all the costs that you pay to your advisor or distributor / and includes the costs of 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 Fund over the last 5 years.The stress scenario shows what you might get back in extreme market circumstances. Performance Scenarios Recommended hold period: 5 years Investment: 10000 $If you exit after the 5-year Scenarios If you exit after 1 year recommended holding period Minimum There is no minimum guaranteed return. You could lose some or all of your investment. What you might get back after costs7451.32 $ 6825.20 $ Stress ScenarioAverage Return each year -25.487% -7.355% What you might get back after costs8495.53 $ 9389.78 $ Unfavourable Scenario Average Return each year -15.045% -1.251% What you might get back after costs10098.96 $ 10182.69 $ Moderate ScenarioAverage Return each year 0.990% 0.363% What you might get back after costs11231.55 $ 11721.41 $ Favourable Scenario Average Return each year 12.316%3.228%The SRI and performance scenarios computation have been integrated using data of the fund benchmark and, for data points prior to the benchmark launch, the parent index as a proxy. What happens if Waystone Management Company (IE) Limited is unable to pay out? The assets of the Fund are segregated from those of Waystone Management Company (IE) Limited. In addition, HSBC Continental Europe, Dublin Branch, as the depositary of Janus Henderson ICAV funds (the “Depositary”), is responsible for the safekeeping of the assets of the Fund. To that effect, if Waystone Management Company (IE) Limited defaults, there will be no direct financial impact on the Fund. In addition, the Fund’s assets shall be segregated from the Depositary’s assets, which limits the risk for the Fund suffering some loss in case of default of the Depositary. As a unitholder in the Fund, there is no compensation or guarantee scheme in place.What are the costs? The person selling to 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. 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. The amounts shown here are illustrations based on an example investment amount and different possible investment periods. Page 2 of 3 | Key Information Document | 1 September 2025 Investment: 10000 $ If you cash in after 1 yearIf you cash in at the end of the 5 years Total costs 44.44 $ 218.86 $Annual cost impact (*) 0.444% 0.442% (*) 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 median return per year before cost (the ongoing cost of the representative share class) is projected to be 0.80% and your median return per year after costs is projected to be 0.36%. 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 and the meaning of the different cost categories. Note that there is no performance fee. Impact on return per yearEntry costs 0.00% The costs you pay when entering your One-off costsinvestment Exit costs 0.00% The cost of buying and selling the underlying Other ongoing costs Portfolio transaction0.09%investment for the product Other ongoing costs The costs that we take each year for 0.35% managing your investmentIncidental costs Performance fees Transaction Cost: This is an estimate of the costs incurred when we buy and sell the underlying investments of the product. The actual amount will vary depending on how much we buy and sell Other Ongoing Costs: this is the total expense ratio. I.e. The total of management fees and other administrative or operating costs Entry / Exit Cost: We do not charge secondary market investors an entry or exit fee for this product, but the person selling you the product may do so. The information can be obtained from your brokers. The Authorised Participants dealing in the primary market pay for the subscription and redemption charges. How long should I hold it and can I take money out early? The funds are designed to be held over the long term and we recommend you hold this investment for at least 5 years. You can request to take some or all your money out at any time, you can typically require to buy or sell shares in the sub fund on any business day (set out in the fund supplement) If you sell your shares at an earlier stage this will increase the risk of lower investment returns or losses. How can I complain? If you wish to make a complaint about the Fund, the Issuer or any person advising or selling the fund, you should write to; Tabula Investment management, 55 Strand, London WC2N5LR. Alternatively, you can email IR@tabulagroup.com or via our website https://www.tabulaim.com/contact/. Alternatively, you can send your complaint to the Management Company at 35 Shelbourne Rd, Ballsbridge, IE - Dublin, D04 A4E0, Ireland or by e-mail to complianceeurope@waystone.com. Other relevant Information Additional information We are required to provide you with further documentation, such as the product’s latest prospectus, past performance annual and semi-annual reports. These documents and other product information are available online at www.tabulaim.com.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 www.waystone.com/waystone-policies/, a paper copy will be made available free of charge upon request. Page 3 of 3 | Key Information Document | 1 September 2025