Value Gold ETF offers both Listed Class and Unlisted Class

Note: The gold bullion image is intended for illustrative purpose only, and does not correspond to the real holding facility nor the actual gold bullion bars.
Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested. These figures show by how much the funds and its’ share classes increased or decreased in value during the calendar year. Performance data has been calculated in currencies displayed above, including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance.
Please refer to the relevant offering documents for further fund details including risk factors and the arrangement in the event that the Fund is delisted. Investors should also note that the Funds are different from typical investment funds, in particular, units in the Funds may only be created or redeemed directly by a participating dealer in large unit sizes.
1. The ongoing charges figure is an annualised figure based on the ongoing expenses for the Trust, expressed as a percentage of the sum of expenses over the average NAV of the Trust for the same period. This figure may vary from year to year. The Trust has adopted a single management fee structure with effect from 30 April 2020. From 30 April 2020 onwards, the ongoing charges of the Trust are capped at a maximum of 0.40% of the average NAV of the Trust, which is equal to the current amount of the management fee of the Trust. Any ongoing expenses exceeding 0.40% of the average NAV of the Trust will be borne by the Manager and will not be charged to the Trust. Please refer to “Ongoing fees payable by the Trust” below and the Prospectus for details. 2. Based on y-o-y changes of the LBMA Gold Price and US CPI between 1971 and 2025. From 1971 to 2025, there were 13 years of inflation of less than 2%, 30 years between 2% and 5%, and 11 years of more than 5%. 3. Source: Value Partners, as of 31 March 2026. The Fund (Unlisted Class) Performance is calculated on NAV to NAV in HKD net of fees. Value Gold ETF (the “Fund”) (Unlisted Class) was launched on 23 March 2021. Calendar year return of Class A HKD Unhedged in the past five calendar years: 2021: +5.1%; 2022:-0.8%; 2023:+13.5%; 2024:+25.3%; 2025:+64.7%; 2026 (YTD):+6.4%. 4. The Bloomberg Businessweek/Chinese Edition 2025 ‘Top Funds’ awards (Gold Commodity category) and ‘ETFs (One-Year Return)’ outstanding awards are determined based on historical data from the Bloomberg Terminal. Performance was evaluated using one-year tracking error and one-year total return metrics for the period from October 1, 2024, to September 30, 2025. 5. The Exchange Traded Funds ranked on one-year total return in the Bloomberg Businessweek “Top Funds Award 2024”. 6. Value Gold ETF offers both listed class and unlisted class, Fund is referring to unlisted class.

^The LBMA Gold Price, which is administered and published by Ice Benchmark Administration Limited (IBA), serves as, or as part of, an input or underlying reference for Value Gold ETF.
LBMA Gold Price is a trade mark of Precious Metals Prices Limited, and is licensed to IBA as the administrator of the LBMA Gold Price. Ice Benchmark Administration is a trade mark of IBA and/or its affiliates. The LBMA Gold Price am, and the trade marks LBMA Gold Price and Ice Benchmark Administration, are used by Sensible Asset Management Hong Kong Limited with permission under licence by IBA.

IBA and its affiliates make no claim, predication, warranty or representation whatsoever, express or implied, as to the results to be obtained from any use of the LBMA Gold Price, or the appropriateness or suitability of the LBMA Gold Price for any particular purpose to which it might be put, including with respect to Value Gold ETF. To the fullest extent permitted by applicable law, all implied terms, conditions and warranties, including, without limitation, as to quality, merchantability, fitness for purpose, title or non-infringement, in relation to the LBMA Gold Price, are hereby excluded and none of IBA or any of its affiliates Will be liable in contract or tort (Including negligence), for breach of statutory duty or nuisance, for misrepresentation, or under antitrust laws or otherwise, in respect of any inaccuracies, errors, omissions, delays, failures, cessations or changes (Material or otherwise) In the LBMA Gold Price, or for any damage, expense or other loss (Whether direct or indirect) you may suffer arising out of or in connection with the LBMA Gold Price or any reliance you may place upon it.

Investors should note investment involves risk. The price of units may go down as well as up and past performance is not indicative of future results. Investors should read the prospectus for details and risk factors, particularly those associated with the arrangement in the event that the Fund is delisted. Investors should also note that the Fund is different from a typical retail investment fund. Units in the Fund may only be created or redeemed directly by a participating dealer in large unit sizes. This material has not been reviewed by the Securities and Futures Commission. Issuer: Sensible Asset Management Hong Kong Limited.