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 Alpha UCITS SICAV - Fair Oaks AAA CLO Fund a sub-fund of Alpha UCITS SICAV UCITS ETF EUR Dist. Share Class (LU2785470191) Alpha UCITS SICAV - Fair Oaks AAA CLO Fund is authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). The PRIIPs Manufacturer and the Management Company is Waystone Management Company (Lux) S.A. which is authorised in Luxembourg and supervised by the Commission de Surveillance du Secteur Financier (CSSF). For more information on this product, please refer to www.waystone.com/funds or call +352 26 00 21 1. Accurate as of: 1 August 2024WHAT IS THIS PRODUCT? Type Distribution Policy Income generated is distributed. This is an investment Fund established as a Company With Variable Launch date The Sub-Fund was launched on 16/09/2019. Capital (SICAV). Sub-Fund Currency The reference currency of the Sub-Fund and the Objectivesshare class is EUR. Investment objective The Sub-Fund's objective is to seek to generate Switching The conversion of Non-ETF Shares into ETF Shares and vice attractive risk-adjusted returns primarily by investing in and managing a versa is not permitted although a Class of Non-ETF Shares may be portfolio of European and US AAA-rated collateralised loan obligationsconverted into a different Class of Non-ETF Shares of the same Sub- ("CLOs") on a long-only and liquid basis. Fund. Investment policies The Sub-Fund seeks to achieve its investment Asset Segregation The assets and the liabilities of each sub-fund are objective by investing in collateralised loan obligations ("CLOs") on a segregated by law. long-only and liquid basis. Intended retail investor The Sub-Fund will invest up to 100% of its Net Asset Value in CLOs. The This product is intended for investors who plan to stay invested for at underlying credit exposure of the Sub-Fund is restricted to European least 3 years and are prepared to take on a low level of risk of loss to and U.S. assets. The Sub-Fund shall not invest in emerging marketstheir original capital in order to get a higher potential return. It is assets. designed to form part of a portfolio of investments. The Sub-Fund may only invest in debt securities that have a credit rating The Company does not permit the sale of the ETF Shares to mass of AAA (or equivalent). The Sub-Fund's portfolio may only be invested in retail. Accordingly, on the Secondary Market, ETF Classes should cash and debt securities with a long-term rating of AAA (or equivalent). not be offered to Retail Investors who are Basic Investors or to In case securities in the portfolio are downgraded below a long-term Retail Investors on an execution-only basis, in each case as stated rating of AAA (or equivalent), the Investment Manager will seek to sell in the European MiFID Template. the relevant as soon as reasonably possible, provided that it determines that it is in the best interests of investors.Term Financial derivative instruments may only be used for the purpose of The Fund is open-ended and has no maturity date. Subject to the currency hedging at asset and share class level. liquidation, dissolution and termination rights of the board of the Fund as set forth in the Fund prospectus, the Fund cannot be automatically The Sub-fund may invest in ancillary liquid assets in accordance with terminated. The PRIIPS manufacturer, Waystone Management Company section 3.5 (b) of the General Section of the Prospectus. (Lux) S.A., is not entitled to terminate the product unilaterally. The Investment Manager seeks to promote environmental and social characteristics within the meaning of Article 8 SFDR. Practical information Benchmark uses The sub-fund is managed actively with no reference Depositary The fund depositary is Caceis Investor Services Bank S.A. to any benchmark. Further information Further information regarding the SICAV and Fund Redemption and Dealing Only Authorised Participants may subscribe will be provided in English including the Prospectus, Supplement and for or redeem ETF Shares directly with the Sub-Fund, with dealing the latest annual and half-yearly reports. This information is available normally on a daily basis.free of charge at https://funds.waystone.com/public. The Net Asset Values per Share Class are available from the Administrator. Dealing on the secondary market The Sub-Fund's ETF Shares are listed on one or more stock exchange(s).WHAT ARE THE RISKS AND WHAT COULD I GET IN RETURN? Risks 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 Lower risk Higher risklose money because of movements in the markets or because we are not able to pay you. We have classified this product as 2 out of 7, which is a low risk class. 1 2 3 4 5 6 7This rates the potential losses from future performance at a low level, and poor market conditions are very unlikely to impact the capacity of The risk indicator assumes you keep the product for 3 years.the Sub-Fund to pay you.Page 1/3 | Key Information Document | 1 August 2024 Alpha UCITS SICAV - Fair Oaks AAA CLO Fund, a sub-fund of Alpha UCITS SICAV – UCITS ETF EUR Dist. Share Class (LU2785470191) Be aware of currency risk. You will receive payments in a different Beside the risks included in the risk indicator, other risks may affect the currency, so the final return you will get depend on the exchange rate fund performance. Please refer to the fund prospectus, available free of between the two currencies. This risk is not considered in the indicatorcharge at https://funds.waystone.com/public. shown above. 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 and of a suitable 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 31 March 2015 and 29 March 2018. Moderate: this type of scenario occurred for an investment between 29 March 2019 and 31 March 2022. Favourable: this type of scenario occurred for an investment between 30 June 2014 and 30 June 2017. Recommended holding period 3 years Example Investment 10,000 EUR if you exit after 3 years if you exit after (recommended Scenarios 1 year holding period) Minimum There is no minimum guaranteed return. You could lose some or all of your investment. StressWhat you might get back after costs 5,310 EUR6,930 EUR Average return each year -46.9% -11.5% Unfavourable What you might get back after costs 8,893 EUR9,313 EUR Average return each year -11.1% -2.3% Moderate What you might get back after costs 10,236 EUR 10,606 EUR Average return each year 2.4% 2.0% FavourableWhat you might get back after costs 12,453 EUR 12,666 EUR Average return each year 24.5%8.2%WHAT HAPPENS IF WAYSTONE MANAGEMENT COMPANY (LUX) S.A. IS UNABLE TO PAY OUT? The Management Company of the Fund 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. 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, –10,000 EUR is invested. if you exit after 3 years if you exit after (recommended Example Investment 10,000 EUR 1 year holding period) Total Costs 35 EUR 110 EUR Annual cost impact* 0.4% 0.4% Page 2/3 | Key Information Document | 1 August 2024 Alpha UCITS SICAV - Fair Oaks AAA CLO Fund, a sub-fund of Alpha UCITS SICAV – UCITS ETF EUR Dist. Share Class (LU2785470191) (*) 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 2.3% before costs and 2.0% after costs. Composition of costs Annual cost impact if you One-off costs upon entry or exit exit after 1 yearEntry costs 0.00%, we do not charge an entry fee.0 EURExit costs 0.00%, we do not charge an exit fee for this product, but the person selling 0 EUR you the product may do so. Annual cost impact if you Ongoing costs taken each yearexit after 1 yearManagement fees and other 0.35% of the value of your investment per year. This is an estimate based35 EUR administrative or operating on actual costs over the last year. costsTransaction costs 0.00% of the value of your investment per year. This is an estimate of the 0 EUR 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. Annual cost impact if you Incidental costs taken under specific conditions exit after 1 yearPerformance feesThere 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: 3 years This product is designed for longer term investments; you should be prepared to stay invested for at least 3 years. However, primary market redemptions at net asset value can be made on any day, subject to a minimum sizing, by Authorised Participants. The ETF Shares will be listed on one or more stock exchanges and one or more members of such stock exchange(s) will act as market makers who are expected to provide daily liquidity, quoting offer and bid prices at which the ETF Shares can be purchased or sold in the secondary market, respectively, by investors who are not Authorised Participants or do not deal directly with an Authorised Participant. The Sub-Fund will not charge any subscription or redemption fees but in exceptional circumstances a dilution levy up to 2% could be charged to mitigate the impact of any exceptional costs. In the secondary market, other trading costs may be incurred over which the Company has no control. Investors may pay more than the current Net Asset Value per ETF Share when buying ETF Shares on the secondary market and receive less than the Net Asset Value per ETF Share when selling ETF Shares on the secondary market.HOW CAN I COMPLAIN? You can also send your complaint to the Fund's Management Company at 19, rue de Bitbourg, L-1273 Luxembourg or by e-mail to complaintsLUX@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 You can receive additional information about this product, including but not limited to the investor disclosure document, annual report, half year report and the latest price of the shares from Fund Administrator. They are available free of charge in English. You can find the latest version on our website at www.waystone.com. Page 3/3 | Key Information Document | 1 August 2024