KWIN ETF: Alternative Income | Shariah-Compliant

The KraneShares Wahed Alternative Income Index ETF (Ticker: KWIN) KWIN info@kraneshares.comKWIN 6/30/2026

Investment Strategy: KWIN is an alternative income ETF that seeks to implement an option strategy to generate options income. The fund will take long equity positions while simultaneously selling a call and buying a put for each of these positions. The option income is generated through the difference in the amount received for the call option and the price paid for the put option. KWIN is designed for investors seeking option income or alternatives to earning traditional interest. Option Strategy Features: •Goal : Generate steady, alternative option income by capturing option premium spreads through a short call and long put position. •Execution : For each selected stock, the fund holds a long position and simultaneously sells a call and buys a put (both options are written against the same long position in that stock). The option strategy is designed to provide a delta -neutral outcome*, meaning it is not sensitive to the direction of the underlying asset's price. KWIN Highlights: •KWIN is sub -advised by Wahed Invest LLC, a global financial technology company that provides digital investment portfolios and serves a large global and Middle Eastern community. •KWIN’s holdings consist of non- dividend -paying, U.S. -domiciled securities whose eligibility for inclusion has been reviewed by Wahed Invest LLC for Shariah compliance.The KraneShares Wahed Alternative Income Index ETF KWIN 2Please see the end of the presentation for Index definitions. *The Fund’s option strategy is designed to achieve a delta- neutral outcome, meaning that the overall portfolio is constructed so that small changes in the price of the underlying stocks have minimal impact on the Fund’s value. However, a delta- neutral position does not eliminate all risk. The Fund remains subject to other risks, including larger price movements, changes in volatility, time decay, and other market factors. Investors may still experience losses, and there is no guarantee that the strategy will be successful in maintaining a delta- neutral position or in achieving its investment objectives.

Example income generating option strategy: 3Strike Price (“strike level”): A strike price is the predetermined price at which the holder of an options contract can buy (for a call option) or sell (for a put option) the underlying asset when exercising the option. Risk-free Rate: The risk -free rate is the theoretical return an investor would earn on an investment with zero risk, typically represented in practice by the yield on high- quality government securities like U.S. Treasury bills or bonds.Treasury Bill (T- Bill): A Treasury bill is a short -term debt security issued by the U.S. government, maturing in one year or less, and considered virt ually risk -free since it is backed by the full faith and credit of the U.S. Treasury.This option strategy is designed to potentially generate option income over a set term, but profits are not guaranteed, and losses are possible. Earning a yield on a risk-free security like a Treasury bill (T -bill) is conceptually similar, but this strategy involves risk, including loss of principal. For each stock position in KWIN, a synthetic short exposure is created using a short call option
and a long put option, with the strike level (the fixed price at which the options can be exercised) of the options determined at the close of the corresponding Rebalancing Day. To execute the option strategy, KWIN may use FLEX options , which are exchange -traded options contracts with customizable terms like exercise price, style, and expiration date.Delta neutral : the option strategy is not sensitive to the direction of the underlying asset's price.

Example: Option Strategy With Amazon 4Buy Amazon stock Long PUT Short CALLHOW IT GENERATES OPTION INCOME •Timeframe: At option expiry, depending on the stock price, the fund may deliver the stock and receive cash, or retain the stock if neither option is exercised. This structure allows the fund to efficiently reset its positions for potentially short- term strategies. •Option Income Stream: An investor can potentially receive the equivalent of an interest rate, earning a fixed fee that mimics the economics of lending or borrowing stock for a set term. However, the amount and outcome are not guaranteed and depend on market conditions.

Domicile/Security Type Shariah ComplianceNon-Dividend PaymentThe company corresponding to the security must be domiciled in the United States .Only common stocks are included. Preferred stocks, ADRs, and other equity securities that are not common stocks are excluded. Equity securities must be listed on NYSE, NASDAQ or CBOE. Potential new securities must have traded for a minimum of 3 months prior to the Selection Day. The equity security must be deemed to be Shariah compliant for inclusion by Wahed Invest LLC. Only non -dividend paying securities are eligible for the index. Any security that has paid a dividend over the past three months as of the Selection Day or has declared a dividend or return of capital with an ex- date in the future, is not eligible for selection. KWIN Index MethodologyKWIN ETF Exchange Listing /Length of Listing 5

Data from Bloomberg as of 6/30/2026.KWIN Has Gained +2.48% Since Its Inception On 11/5/2025 (~7 Months) 6995010000100501010010150102001025010300Growth of 10,000 Units

Wahed Overview Wahed is a financial technology company founded in 2017 that offers Shariah- compliant investment solutions aimed at those seeking Islamic finance options. Headquartered in New York, with operations in over 130 countries, Wahed provides digital investment portfolios that include global stocks, sukuk (Islamic bonds), and gold while avoiding industries and practices prohibited by Islamic law, such as conventional financial services, alcohol, tobacco, gambling, weapons, and certain entertainment industries. Their platform uses a robo- advisor model to make investing accessible, with a mission to build a financial system aligned with Islamic values. 7 1,2,3: Data from Wahed Invest LLC.

Shariah Compliance Related To Investing Shariah- compliant investing is a set of investment practices that align with Islamic law (Sharia), ensuring that all financial activities are ethical and fair and in accordance with Islam’s core principles. This approach seeks to grow wealth without violating religious values. KEY PRINCIPLES OF SHARIAH- COMPLIANT INVESTING •Prohibition of Riba (Interest): Earning or paying interest is strictly forbidden. •Avoidance of Gharar (Excessive Uncertainty): Investments should not involve high uncertainty or speculation. •Avoidance of Haram (Forbidden) Activities: Investments are not allowed in sectors like alcohol, gambling, pork, weapons, and adult entertainment. •Profit and Loss Sharing: Investments operate on a model of shared risk and reward, commonly through structures such as Mudarabah (profit- sharing partnerships) and Musharakah (joint ventures). •Asset -Backed Investments: Transactions must be tied to tangible assets or real economic activity, not just financial speculation. •Charitable Giving (Zakat): A portion of earnings should be donated to charity, supporting the principle of social justice and redistribution of wealth. 8

KWIN Option Strategy vs Sukuk (Islamic Bonds) 9KWIN Option Strategy Sukuk Income GenerationGenerates steady, fixed -term option income by capturing premium spreads in liquid equity options marketsOffers regular profit payments (analogous to coupons), tied to asset performance LiquidityUnderlying equities and options trade on public exchanges, with transparent pricing and frequent rebalancingSecondary sukuk markets can be thin, with many investors holding to maturity; may face wider bid- ask spreads, higher trading costs, and less price transparency Yield / ReturnPotentially higher, especially in low -rate or sideways markets; ability to respond dynamically in volatile environmentsGenerally stable but may offer lower yields, especially in investment - grade portfolios; returns depend on underlying asset and market rates Transparency & CostTransparent exposures, daily NAV, typically lower management fees than active sukuk fundsFees for sukuk funds are higher due to complex legal structuring; limited number of passive ETF options available and geographic concentration Complexity / AccessInstitutional strategy made accessible via ETFs; can be difficult and costly for individuals to implement directlyEasy for individuals to access through funds, but choice remains limited and portfolio diversification can be constrained Shariah ComplianceFully compliant: Strategy and universe pre -screened; avoids riba and non-compliant income sources in ETF wrapperFully compliant: Asset -backed, no riba; long regulatory and scholarly acceptance

KWIN Performance History asof06/30/2026: Cumulative % Cumulative % 3Mo 6Mo Since Inception 1Yr 3Yr 5Yr Since Inception Fund NAV 0.75% 1.67% 2.48% – – – 2.48% Closing Price 0.47% 1.31% 2.24% – – – 2.24% Underlying Index 0.91% 1.82% 2.45% – – – 2.45%The KraneShares Wahed Alternative Income Index ETF Investment Strategy: KWIN is an alternative income ETF that seeks to implement an option strategy to generate options income. The fund will take long equity positions while simultaneously selling a call and buying a put for each of these positions. The option income is generated through the difference in the amount received for the call option and the price paid for the put option. KWIN is designed for investors seeking option income or alternatives to earning traditional interest. Theperformance data quoted represents past performance. Past performance does notguarantee future results. Theinvestment return andprincipal value ofaninvestment willfluctuate sothat aninvestors shares, when sold or redeemed, may beworth more orless than their original cost andcurrent performance may belower orhigher than theperformance quoted. Forperformance data current tothemost recent month end, please visit www.kraneshares.com/etf/kwin. Index returns areforillustrative purposes only. Index performance returns donotreflect anymanagement fees, transaction costs orexpenses. Indexes areunmanaged andonecannot invest directly inanindex.Fund Details Data as of 06/30/2026 Primary Exchange NYSE Arca, Inc. CUSIP 500767223 ISIN US5007672232 Total Annual Fund Operating Expense 0.51% Inception Date 11/05/2025 Distribution Frequency Annual Underlying Index Wahed Shariah Alternative Income Index Net Assets $56,355,926 Number ofHoldings 312Top10Holdings asof 06/30/2026 Holdings are subject tochange.Ticker % SANDISK CORP SNDK 22.19 ADVANCED MICRO DEVICES AMD 10.51 FORTINET INC FTNT 8.31 CROWDSTRIKE HOLDINGS INC-A CRWD 7.31 PALO ALTO NETWORKS INC PANW 7.20 ONSEMICONDUCTOR ON 6.17 ARISTA NETWORKS INC 251204 2D US5.15 CADENCE DESIGN SYS INC CDNS 4.86 O'REILLY AUTOMOTIVE INC ORLY 4.02 AUTOZONE INC AZO 3.97

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China, Emerging Markets & Regional Alternatives Income & Covered Call AI, Robotics & Emerging Technology KURE Healthcare KGRN Clean TechnologyKSTR STAR Market KTEC Hang Seng TechKWEB Internet & E -Commerce China A Shares KBA / CHIN KCAI China Onshore Alpha IndexAGIX Artificial Intelligence & Technology KOID Humanoid & Embodied Intelligence Electric Vehicles & Future Mobility KARSChina Suite Future TechBroader Emerging Markets KEMQ Emerging Markets Consumer Tech KPHODragon Capital Vietnam GrowthKEMX MSCI Emerging Markets ex China U.S. & Developed Markets KVLE Value Line® Dynamic Dividend EquityHedgeye Hedged Equity KSPY Man Buyout Beta Index BUYO Fixed Income BNDDQuadratic Deflation ETFIVOLQuadratic Interest Rate Volatility & Inflation Hedge KHYB Asia High Income USD BondSustainable Ultra Short DurationKCSH KEUA European Carbon AllowanceGlobal Carbon Strategy KRBNCarbon CreditsKPDD 2X Long PDD Daily KJD 2X Long JD DailyKBAB 2X Long BABA Daily KMLI 2X Long MELI Daily Covered Call & Options Income Managed Futures KMLMMount Lucas Managed Futures KWIN Wahed Alternative IncomeKLIP China Internet & Covered Call Outcome Based Equity KIQQ Nasdaq Buffer & Option IncomeLevered & High- Conviction Exposure KBUF90% KWEB Defined Outcome100% KWEB Defined Outcome KPRO Alternative Income KCCA California Carbon AllowanceExtensive ETF Product Suite Spanning High Growth Sectors Strategy also available in UCITS / ETCKBDU 2X Long BIDU Daily

Index Definitions: The Wahed Shariah Alternative Income Index: Measures the performance of a strategy consisting of long positions in equities and short synthetic forward positions in the same equities.

Important Notes: Carefully consider the Funds’ investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds' full and summary prospectus, which may be obtained by visiting https://www.kraneshares.com/etf/kwin . Read the prospectus
carefully before investing. Risk Disclosures: Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated obj ectives. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index. This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strate gies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Certain content represents an assessment of the market environm ent at a specific time and is not intended to be a forecast of future events or a guarantee of future results; material is as of the dates noted and is subject to change without notice. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses. A derivative (i.e., futures/forward contracts, swaps, and options) is a contract that derives its value from the performance of an underlying asset. The primary risk of derivatives is that changes in the asset’s market value and the derivative may not be proportionate, and some derivatives can have the potential for unlimited losses. Derivatives are also subject to liquidity and counterparty risk. The Fund is subject to liquidity risk, meaning that certain investments may become difficult to purchase or sell at a reasonable time and price. If a transaction for these securities is large, it may not be possible to initiate, which may cause the Fund to suffer losses. Counterparty risk is the risk of loss in the event that the counterparty to an agreement fails to make required payments or otherwise comply with the terms of the der ivative. By writing call options and buying put options as part of its strategy, the Fund may limit its ability to benefit from increa ses in the value of its holdings above the options’ strike prices, while still being exposed to declines in value. The premiums received from selling options may not be enough to offset losses from volatility or declines in the underlying stocks. The Fund’s use of options involves unique risks, including the possibility that options may become illiquid or expire worthless, and that the Fund may not be able to close out p ositions at desired times or prices. FLEX options, which the Fund uses, may be less liquid than standard options and can only be exercised at expiration. The value of the Fund’s options positions will fluctuate with changes in the value and volatility of the underlying securitie s. Unusual market conditions or trading suspensions may reduce the effectiveness of the Fund’s options strategies, and the Fund’s strategies may not work as expected and could result in losses. In addition, th e Fund’s ability to sell or buy the underlying securities may be limited while options are outstanding, unless the Fund cancels out the option positions by purchasing offsetting options before expiration.Transactions in options are centrally cleared through the Options Clearing Corporation (OCC). While the OCC guarantees settle ment, there is a risk that the OCC or a clearing member could fail to meet its obligations, which could result in losses for the Fund. If the Fund cannot find a clearing member to transact with, it may be unable to effectively implement its investment strategy. Premiums received from writing options will generally result in short -term capital gains, which may be taxed at higher rates tha n long -term capital gains. Because the Index applies Islamic principles, the Fund cannot invest in certain issuers and securities— such as financial compani es and interest -paying bonds —which reduces the pool of eligible investments. This may limit investment opportunities and affect performance. The Fund will not earn interest on cash, and securities may b ecome non -compliant after purchase and be held until the Index is rebalanced.A
large number of shares of the Fund is held by a single shareholder or a small group of shareholders. Redemptions from these s hareholder can harm Fund performance, especially in declining markets, leading to forced sales at disadvantageous prices, increased costs, and adverse tax effects for remaining shareholders.

Risk disclosures continued: Narrowly focused investments typically exhibit higher volatility. The Fund’s assets are expected to be concentrated in a sector, industry, market, or group of concentrations to the extent that the Underlying Index has such concentrations. The securities or futures in that concentration could react similarly to market developments. Thus, the Fund is subject to loss due to adverse occurrences that affect that concentration. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit hig her volatility. KWIN is non -diversified. Neither MerQube, Inc. nor any of its affiliates (collectively, “MerQube”) is the issuer or producer of KraneShares Wahed Alte rnative Income Index ETF and MerQube has no duties, responsibilities, or obligations to investors in KraneShares Wahed Alternative Income Index ETF. The index underlying the KraneShares Wahed Alternative Income Index ETF is a product of MerQube and has been licensed for use by Krane Funds Advisors, LLC. Such index is calculated using, among other things, market data or other information (“Input Data”) from one or more sources (each such source, a “ DataProvider ”). MerQube® is a registered trademark of MerQube, Inc. This trademark has been licensed for certain purposes by Krane Funds Advi sors, LLC in its capacity as the issuer of the KraneShares Wahed Alternative Income Index ETF. KraneShares Wahed Alternative Income Index ETF is not sponsored, endorsed, sold or promoted by MerQube, any Data Provider, or any other third party, and none of such parties make any representation regarding the advisability of investing in securities generally or in KraneShares Wahed Alternative Income Ind ex ETF particularly, nor do they have any liability for any errors, omissions, or interruptions of the Input Data, the MerQube US Shariah Reverse Convertible Index, or any associated data. Neither MerQube no r the Data Providers make any representation or warranty, express or implied, to the owners of the shares/units of KraneShares Wahed Alternative Income Index ETF or to any member of the public, of any ki nd, including regarding the ability of the MerQube US Shariah Reverse Convertible Index to track market performance or any asset class. The MerQube US Shariah Reverse Convertible Index is determi ned, composed and calculated by MerQube without regard to Krane Funds Advisors, LLC or the KraneShares Wahed Alternative Income Index ETF. MerQube and Data Providers have no obligation to take th e needs of Krane Funds Advisors, LLC, or the owners of KraneShares Wahed Alternative Income Index ETF into consideration in determining, composing, or calculating the MerQube US Shariah Reverse Conv ertible Index. Neither MerQube nor any Data Provider is responsible for and have not participated in the determination of the prices or amount of KraneShares Wahed Alternative Income Index ETF or the timing of the issuance or sale of KraneShares Wahed Alternative Income Index ETF or in the determination or calculation of the equation by which KraneShares Wahed Alternative Income Index ETF is to be c onverted into cash, surrendered or redeemed, as the case may be. MerQube and Data Providers have no obligation or liability in connection with the administration, marketing or trading of KraneShares Wah ed Alternative Income Index ETF. There is no assurance that investment products based on the MerQube US Shariah Reverse Convertible Index will accurately track index performance or provide positive investm ent returns. MerQube is not an investment advisor. Inclusion of a security within an index is not a recommendation by MerQube to buy, sell, or hold such security, nor is it considered to be investment advice. NEITHER MERQUBE NOR ANY OTHER DATA PROVIDER GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS, AND/OR THE COMPLETENESS OF THE MER QUBE US SHARIAH REVERSE CONVERTIBLE INDEX OR ANY DATA RELATED THERETO (INCLUDING DATA INPUTS) OR ANY COMMUNICATION WITH RESPECT THERETO. NEITHER MERQUBE NOR ANY OTH ER DATA PROVIDERS SHALL BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. MERQUBE AND ITS DATA PROVIDERS MAKE NO EXPRESS OR IMPL IED WARRANTIES, AND THEY EXPRESSLY DISCLAIM ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY KRANE FUNDS ADVISORS, LLC, OWNERS OF THE KRANE SHARES WAHED ALTERNATIVE INCOME INDEX ETF, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THEMERQUBE US SHARIAH REVERSE CONVERTIBLE I NDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANYOF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL MERQUBE OR DATA PROVIDERS BE LIABLE FOR ANY INDIRECT , SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOSTTIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THE FOREGOING REFERENCES TO “MERQUBE” AND/OR “DATA PROVIDER” SHALL BE CONSTRUED TO INCLUDE ANY AND ALL SERVICE PROVIDERS, CONTRACTORS, EMPLOYEES, AGENTS, AND AUTHORIZED REPRESENTATIVES OF THE REFERENCED PARTY.

Risk disclosures continued: ETF shares are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. Howe ver, shares may be redeemed at NAV directly by certain authorized broker- dealers (Authorized Participants) in very large creation/redemption units. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Beginning 12/23/2020, ma rket price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer ("NBBO") as of the time the ETF calculates the current NAV per share. Prior to that date, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time . The KraneShares ETFs and KFA Funds ETFs are distributed by SEI Investments Distribution Company (SIDCO), 1 Freedom Valley Dri ve, Oaks, PA 19456, which is not affiliated with Krane Funds Advisors, LLC, the Investment Adviser for the Funds, or any sub -advisers for the Funds.