Krane Funds Advisors, LLC (“Krane”) delivers differentiated, high-conviction investment strate- gies to global investors and is passionate about identifying groundbreaking capital market oppor- tunities and developing them into investment vehicles that offer a source of non-traditional diver- sification to clients. Krane seeks to provide innovative, first to market strategies that have been developed based on the firm and its partners’ deep knowledge of investing. The firm has been a registered investment adviser since 2013. As of 2017, KFA One Holdings, LLC entered into a strategic partnership with China International Capital Corporation (USA) Holdings Inc., a wholly- owned, indirect subsidiary of China International Capital Corporation Limited (“CICC”), and Krane became a majority-owned, indirect subsidiary of CICC. CICC is a leading publicly traded Chinese financial services company with expertise in research, asset management, investment banking, private equity and wealth management. KFA One Holdings, LLC also remains a principal owner of Krane. Krane primarily serves as the investment manager for KraneShares ETFs, two a suites of passively- managed and actively-managed registered open-end management investment companies that op- erate exchange-traded funds (“ETFs”) (collectively, the “Krane Registered Funds”). Each Krane Registered Fund is managed in accordance with its respective investment objectives, strategies and restrictions as approved by the Board of Trustees. From time to time Krane hires unaffiliated investment advisors to provide discretionary and non- discretionary investment advisory services to the Krane Registered Funds in a sub-advisory capac- ity. In this capacity, Krane recommends the engagement, retention and termination of sub-advisory firms and provides ongoing oversight of such sub-advisory firms in connection with the services provided to the Krane Registered Funds. Krane also offers investment advisory services through model delivery programs (which may be managed as separately managed accounts) and other pooled investment vehicles. Krane also pro- vides discretionary and/or non-discretionary investment advisory services to unaffiliated third par- ties, including UCITS and other non-US funds. UCITS and Other Non-US Funds Krane acts as the investment adviser for a series of Ireland domiciled funds regulated pursuant to the Undertakings for Collective Investment in Transferable Securities (“UCITS”). Information about these UCITS funds, including a description of the management fees and investor eligibility, is generally contained in each UCITS fund’s prospectus, key information document, key investor information document and supplements, which can be found on each UCITS fund’s website as applicable. Model Delivery Programs Krane creates, maintains and makes available asset allocation models (each a “Model Portfolio”), which have underlying allocations generally consisting of individual ETFs, including ETFs man- aged by Krane. The Model Portfolios are not limited to allocations to ETFs managed by Krane; however, a Model Portfolio may be allocated up to 100% to such ETFs. Model Portfolios typically include ETFs managed by Krane, notwithstanding the fact that there may be a similar ETF with a higher rating, lower fees and expenses, or substantially better performance. Krane is subject to an inherent conflict of interest in constructing the Model Portfolios because it earns underlying fund fees when accounts invested based on a Model Portfolio

include an allocation to its own ETFs. Krane provides the Model Portfolios to third-parties, including investment advisors and broker- dealers (“Sponsors”) through model portfolio delivery programs (“Model Delivery Programs”) on a non-discretionary basis. In these relationships, Krane’s client is the Sponsor or other third-party receiving the Model Portfolios, rather than the underlying participant in the Model Delivery Pro- gram. The Sponsor retains discretion to implement, reject, or adjust such Model Portfolios and is responsible for executing any corresponding transaction on behalf of the Sponsor’s underlying client. Krane does not execute transactions for any underlying clients of the third party participat- ing in the Model Delivery Program. In addition, Krane typically neither receives nor has access to information regarding the underlying participants in Model Delivery Programs and does not have any contractual arrangement with such participants. The Sponsor determines the fee to charge the underlying program participants. Participants in Model Delivery Programs should refer to the Sponsor’s disclosures for additional information regarding their account. Krane from time to time makes updates to the recommended allocations to ETFs that comprise the Model Portfolios. In the event of an update to the Model Portfolios, Krane will make such update available to the third-party advisors, who in their sole discretion may determine whether to imple- ment such updates on behalf of their clients. In some instances Krane receives compensation from third-party advisors for use of the Model Portfolios and will be indirectly compensated by invest- ments in the Krane Registered Funds underlying the Model Portfolios. The Sponsor or third party making use of the Model Portfolios may do so through investment advisory programs designed to comply with Rule 3a-4 under the Investment Company Act of 1940, as amended. In such cases, it is the Sponsor or third party’s, and not Krane’s, obligation: (i) to manage the client’s account on the basis of the client’s financial situation and investment objec- tives; (ii) to obtain sufficient client information to be able to provide individualized investment advice to the client; (iii) to be reasonably available to consult with the client; (iv) to allow the client the opportunity to impose reasonable investment restrictions on the management of the account; and (v) to provide the client with a quarterly statement with a description of all account activity. Please refer to the Form ADV Part 2 of your relevant Sponsor for more information. Separate Accounts Krane may also offer investment advisory services through separately managed accounts primarily to high net worth individuals and institutional clients. Separate accounts would be tailored to each client based on the client’s individual investment objectives. Separate account arrangements would be documented through an investment management agreement, which incorporates investment management restrictions and guidelines developed in consultation with each client, as well as any additional services required by the client. These restrictions and guidelines may impose limitations on the types of securities that may be purchased and/or the percentage of account assets that may be invested in certain types of securities. Assets Under Management As of December 31, 2023, Krane managed $8.7 billion in client assets on a discretionary basis and $0 managed on a non-discretionary basis.