Key Investor Information Document (KIID) of Chocolate Global Funds – Chocolate Global Income Fund

Last updated: September 2026

This document (KIID) is a summary of the Prospectus and is an integral part which must be read with the Prospectus. This document is subject to Federal Law No. (4) of 2000 regarding the Emirates Securities and Commodities Authority and Market and the Chairman of the Securities and Commodities Authority’s Board of Directors’ Decision No (01/RM) of 2023 Concerning the Regulations as to Investment Funds (the “Funds Regulations”) and all laws and resolutions applicable in the United Arab Emirates.

Such summary shall be read as an introduction to the Prospectus, and it is not recommended to rely alone on the information that was detailed in the terms and conditions contained in this summary, as the Prospectus includes more detailed information. Any investment decision must be based on considering all the information of the Prospectus and the relevant Application Form.

Investment Objective of the Sub-Fund

The Sub-Fund’s investment objective is to deliver a target income return in various currencies by investing primarily in a diverse range of financial instruments, including debt obligations, dividend stocks, foreign exchange, and interest rate markets.

The investment strategy of the Sub-Fund is to invest directly or indirectly in the following:

1. short-term debt obligations, including but not limited to, commercial paper, certificates of deposit, time deposits, deposit notes, discount notes and banker’s acceptances;
2. treasury and government-related securities, including but not limited to securities issued by sovereigns, government agencies or instrumentalities, government-related entities, regional government entities or supranational organizations;
3. fixed, variable and floating-rate debt securities;
4. corporate securities, including but not limited to securities issued by corporations and other business entities;
5. foreign exchange spot, forward contracts and derivatives for the purposes of hedging or for purchase or sale of currencies to facilitate the settlement of trades, or to exchange one currency for another, including to repatriate foreign currency;
6. currency hedging instruments (recognizing that, in regard to currency hedging, it is generally not possible to precisely match the foreign currency exposure of the foreign currency forward contracts to the value of the securities involved due to fluctuations in the market values of such securities between the date a foreign currency forward contract is entered into and the date it expires; alternatively, some or all of the currency exposure may remain unhedged at the discretion of the Fund Manager);
7. any security received or purchased in relation to a corporate action;
8. shares, units or interests in money market funds or other short-term investment funds, including without limitation UCITS or ETFs (which may be managed by an affiliate of the Fund Manager);
9. reverse repurchase of exchange listed securities or over-the-counter securities;
10. cash and cash equivalents.

In addition, to mitigate potential adverse movements in interest rates that could negatively impact the value of its portfolio assets, the Sub-Fund is allowed to enter into hedging instruments and strategies including, but not limited to:

1. Interest Rates Swaps;
2. Futures and Options on Interest Rates;
3. Forward Rate Agreements;
4. Interest Rate Caps and Floors.

Sub-Fund Details

Performance Fee

The Fund Manager shall receive a performance fee (the “Performance Fee”), payable out of the assets of the Sub-Fund, as follows:

• the Performance Fee, in respect of the Units, will accrue daily on each Valuation Day, and crystallise on the final Valuation Day of each Crystallisation Period;
• the Performance Fee shall be calculated on a Class by Class basis as the amount (whether positive or negative) equal to (i) the Net Asset Value per Unit of the relevant Class at the Valuation Point on the relevant Valuation Day, after deduction of any Management Fee accrued for that Valuation Day, less (ii) the Net Asset Value per Unit of that Class at the Valuation Point on the immediately preceding Valuation Day, after deduction of any Management Fee accrued for that Valuation Day, less (iii) the product of the Net Asset Value per Unit referred to in (ii) above and the Chocolate Rate for that Class, divided by the Gregorian calendar days for the year;
• upon crystallisation, if the aggregate of all daily accruals for the relevant Crystallisation Period is positive, the Fund Manager shall be entitled to be paid, out of the assets of the relevant Class, a Performance Fee equal to that positive amount. Payment shall be made annually in arrears, or at such other intervals or on such other basis as the Fund Manager may determine, and shall be effected as soon as reasonably practicable following the final Valuation Day in each Crystallisation Period; and
• where the aggregate of all daily accruals for a Crystallisation Period is zero or negative, no Performance Fee shall be payable to the Fund Manager in respect of that Crystallisation Period. However, in the case of Classes A1 and B1 Units only (together, for the purposes of this section, the “Applicable Classes”), and solely while the Top-Up Feature (as defined below) remains in force, the Fund Manager may, at its sole and absolute discretion, elect to waive the Performance Fee attributable to a redeeming Unitholder in respect of that Applicable Class at the point of redemption. Any such waiver shall be limited to, and funded solely from, the aggregate of positive Performance Fees standing to the credit of the Fund Manager in respect of that Applicable Class across all Crystallisation Periods (including any prior Crystallisation Periods) and any positive Performance Fee accrued on a pro rata basis in the then-current Crystallisation Period up to and including the relevant Redemption Day. The Performance Fee so waived shall be applied to the calculation of the redemption proceeds of the relevant redeeming Unitholder as at the relevant Redemption Day and shall not otherwise affect the Net Asset Value of the Applicable Class.

“Chocolate Rate” means, in respect of each Applicable Class, the annualised target return rate (expressed as a percentage per annum) that the Sub-Fund aims to deliver to Unitholders of that Class, as determined by the Fund Manager from time to time, having regard to prevailing market conditions. The Chocolate Rate may be changed from time to time with reasonable prior notice given to Unitholders via the Digital Platform and/or at www.kelvin-dev.click, provided that any such change shall only take effect on the date specified in the notice given to Unitholders. For the avoidance of doubt, the Chocolate Rate published on the Digital Platform and/or at www.kelvin-dev.click shall prevail and supersede any Chocolate Rate as may otherwise have been disclosed.

Crystallisation Period: It means, in respect of each Class, each consecutive period of twelve (12) months ending on a Valuation Day, or such other period as the Fund Manager may prescribe. By derogation to the foregoing, the first Crystallisation Period will commence on the launch date of the Sub-Fund and end on the last Valuation Day falling twelve (12) months after the launch date. Any change in the length or frequency of Crystallisation Periods shall be notified to Unitholders in advance in the manner set out above.

Top-Up Feature: The ‘Top-Up Feature’ refers to the right of (i) the Fund Manager to waive Performance Fees as described above and/or (ii) the Fund Manager and/or any member of the Chocolate Group to transfer Units of the Applicable Classes held by the Fund Manager and/or any member of the Chocolate Group to Unitholders of the Applicable Classes (such transferred Units may then be sold on behalf of the relevant Unitholders, with the proceeds distributed to them), in each case solely upon redemption of the relevant Unitholder’s Units and to the extent necessary for that Unitholder to receive a total return equal to the prevailing Chocolate Rate on their holding. The top-up amount, if any, is determined on the relevant Redemption Day as the difference between the balance reflecting the Chocolate Rate applicable to the redeeming Unitholder’s holding and the Fund’s Net Asset Value per Unit on that day, and arises only where the Fund has underperformed the Chocolate Rate at the time of redemption. For the avoidance of doubt, the Top-Up Feature does not operate on a continuous or annual basis and no top-up assessment is made in respect of continuing Unitholders who have not redeemed. The Fund Manager reserves the right to terminate or suspend the operation of the Top-Up Feature with respect to any Applicable Class at any time and without prior notice if, in the sole opinion of the Fund Manager, the continued operation of the Top-Up Feature would be unduly prejudicial to the Fund Manager or no longer consistent with prevailing market conditions or the investment objectives of the Sub-Fund.

• Class A1: Top-Up Feature
• Class A2: Not applicable
• Class B1: Top-Up Feature
• Class B2: Not applicable

Custodian Fee

The Custodian will receive out of the assets of the Sub-Fund a Custodian Fee of up to 10 basis points per annum, calculated by reference to assets under custody, the number of transactions, and other trade-related charges. This Custodian Fee will be included within the Operating Expenses Cap (such term as defined below).

The Custodian is also entitled to be reimbursed by the Sub-Fund for all reasonable out-of-pocket expenses.

Fund Administration Fee

The Administrator will receive out of the assets of the Sub-Fund an Administrator Fee of up to 5 basis points per annum, comprising fund accounting fees, financial statement preparation fees, and other administration-related charges at the rates agreed with the Administrator. This Administrator Fee will be included within the Operating Expenses Cap.

The Administrator is also entitled to be reimbursed by the Sub-Fund for all reasonable out-of-pocket expenses.

Auditor Fee

The Auditor will receive an annual audit fee of AED 120,000 (excluding VAT) per Sub-Fund and is included within the Operating Expenses Cap.

General and administrative expenses of the Sub-Fund’s operations

The Sub-Fund pays out of its Assets all operating expenses payable by this Sub-Fund or specific Classes of Units within that Sub-Fund (the “Operating Expenses”). The Operating Expenses include the fees payable to some service providers, administrative expenses such as registration fees, insurance coverage, documentation costs and expenses specific to the Sub-Fund or Class(es) of Units (e.g., brokers’ commissions (if any), borrowing / financing charges (if any) and any issue or transfer taxes chargeable in connection with any securities transactions, all taxes and corporate fees payable to governments or agencies, interest on borrowings, litigation and indemnification expenses and extraordinary expenses not incurred in the ordinary course of business).

The Operating Expenses charged to the Sub-Fund are capped at a maximum annual percentage of 1% of the Net Asset Value (the “Operating Expenses Cap”). Any amount exceeding this Operating Expenses Cap will be borne directly by the Fund Manager.

Other Information