Krane Funds Advisors LLC

ITEM 5. FEES AND COMPENSATION

Krane Registered Funds, and separately, UCITS and ETC (together “Other Pooled Investment
Vehicles”) generally charge a management fee calculated daily based on a percentage of assets
under management and paid to the investment manager monthly in arrears. Each Krane Registered
Fund pays Krane a management fee in return for providing investment advisory, supervisory, and
administrative services under a unitary fee structure. For each Krane Registered Fund, the
management fee charged by Krane is documented in writing in an investment advisory agreement
between Krane and the KraneShares Trust, which obligates Krane to pay all expenses of such
funds other than advisory fees, acquired fund fees, Independent Trustee compensation and related
costs, interest and taxes, transaction and brokerage costs, and if applicable, distribution expenses,
litigation expenses and any extraordinary expenses determined by the Board. Such agreement is
approved by the Board of Trustees. The management fee with respect to a Krane Registered Fund
may vary due to various factors, including, but not limited to, the applicable investment strategy
or benchmark, the size of the fund, the fund’s servicing or reporting requirements, and any
contractual or voluntary fee waivers. Investors are encouraged to review the offering documents
of the applicable Krane Registered Fund or Other Pooled Investment Vehicles to understand their
fees and expenses, which may include additional expenses for investment advisory, insurance,
distribution, and other customary fees and expenses that are described in each offering document.
As of 12/31/2025, gross expenses for US ETFs ranged from 0.30% to 1.27% and net expenses
ranged from 0.20% to 1.00%. For UCITS ETFs, total expenses ranged from 0.55% to 0.82%.

Model Portfolios

In some instances, Krane receives a fee from or pays a fee to third-party advisors or Sponsors to
whom it provides Model Portfolios. The terms of Krane’s agreements with such third-parties vary
between such third-parties and will be specified in the applicable agreement. Fees will be
calculated and billed in accordance with the applicable agreement and may be in the form of a flat
or asset-based fee. A third-party provider may pay or charge a fee to Krane for the use of the Model
Portfolios in providing investment advice to its underlying clients. Krane also, in some cases, pays
installation, maintenance, technology, or other fees to third-party providers for making the Model
Portfolios available through the applicable third-party’s platform. Krane is not compensated
directly by any investor with respect to the assets of which are invested based on a Model Portfolio.
However, in some instances, a third-party provider, in its sole discretion or in connection with the
applicable written agreement between Krane and the third-party provider, passes all or a portion
of its costs, including fees due to Krane, on to the underlying investor. Third-party advisors may
charge clients a fee for their services separate and distinct from any fees paid to Krane by the third-
party provider. Krane may from time to time, in its sole discretion, reduce or waive its fees for
certain third-party advisors, which may result in a disparity in fees charged. In addition, ETFs,
including those ETFs used in the Model Portfolios, pay certain fees and expenses including
investment advisory, insurance, distribution, and other customary fees and expenses that are
described in each ETF’s offering documents. When third-party advisors invest assets of their
underlying clients in Krane ETFs based on the Model Portfolios, the underlying participants will
indirectly pay the fees and expenses of the applicable Krane ETF and therefore ultimately benefit
Krane through the advisory fees Krane receives from the Krane ETFs.

                  ITEM 6. PERFORMANCE-BASED ALLOCATION AND
                            SIDE-BY-SIDE MANAGEMENT

As of the date of this brochure, Krane does not charge performance-based fees.

Krane may provide investment advisory services with respect to the same or similar strategies
through various investment vehicles, such as Other Pooled Investment Vehicles and/or Krane
Registered Funds. This gives rise to potential conflicts of interest because Krane has an incentive
to favor certain clients over others. For example, Krane may be incentivized to dedicate more time
and/or to allocate favored investment opportunities to clients that pay higher fee rates. To address
these and other conflicts of interest, Krane has adopted various policies and procedures designed
so that all clients are treated equitably and that no client is systematically favored or disadvantaged
over time (see discussion of trade allocation below).

Krane and/or its affiliates, including its wholly owned subsidiary, Krane Capital Management,
LLC (“KCM”), may invest for their own accounts or on behalf of other clients in securities or
issuers that are also held by the ETFs or Other Pooled Investment Vehicles. These activities present
potential conflicts of interest, including with respect to the timing of investments, access to
investment opportunities, and the allocation of resources. Krane and its affiliates seek to address
these conflicts through the implementation of policies and procedures designed to ensure that all
clients are treated fairly and equitably over time, including adherence to fiduciary duties,
information barriers where appropriate, and oversight of personal and proprietary trading
activities.

ITEM 7. TYPES OF CLIENTS

Krane provides investment advisory services to Krane Registered Funds such as ETFs and Other
Pooled Investment Vehicles sponsored by Krane.

Primary market investments in pooled investment vehicles, including the Krane Registered Funds
and Other Pooled Investment Vehicles are generally subject to minimum investment requirements
as disclosed in the applicable fund’s offering materials.

The Model Portfolios are provided either directly to third-party advisors, or through various
platform providers who make the Model Portfolios available to the third-party advisors, for use by
such third-party advisers in providing services to such third-party adviser’s underlying investor
clients. The Model Portfolios and related commentary are made available online via a subscription
option, and subscribers may implement, modify, or disregard them at their own discretion.

Krane from time to time provides investment advisory services to proprietary accounts. The
clients, account holders, shareholders or investors in these proprietary accounts may include Krane
Registered Funds and Other Pooled Investment Vehicles, another affiliate, or employees of these
entities.

Proprietary accounts typically are established to seed a new Model Portfolio.