Temporary Waiver of Fees

This letter is important and requires your immediate attention. If you are in doubt as to the action you should take you should seek advice from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser. If you have sold or transferred all of your shares in the Fund referred to below, please pass this letter at once to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee as soon as possible.

Capitalised terms used herein and not defined shall have the meaning given to those terms in the Company's prospectus dated 13 December 2021.

This letter has not been reviewed by the Central Bank of Ireland (the "Central Bank"). The board of directors of the Company (the "Directors") accepts responsibility for the information contained in this document.

8 April 2022

HSBC ETFs plc

(the "Company")

HSBC MSCI RUSSIA CAPPED UCITS ETF

(the "Fund")

ISIN: IE00B5LJZQ16

TEMPORARY WAIVER OF FEES

Dear Shareholder,

The purpose of this letter is to inform you that, further to the suspension of the determination of the Net Asset Value of the Fund and the issue, redemption and exchange of Shares in the Fund announced on 2 March 2022, the Directors have resolved to waive the fees and expenses payable by the Fund (TER) for the duration of the Fund's suspension.

For the avoidance of doubt, no TER in respect of this period of suspension will be accrued. Should the sub-fund re-open at a future point in time, the fund will not collect any TER for the period of suspension.

This notice is for information purposes only. Shareholders are not required to take any action. For the avoidance of doubt, due to the temporary character of the changes, neither the key investor information document of the Sub-Fund nor the Supplement of the Sub-Fund will be amended.

Yours sincerely,

Director

For and on behalf of HSBC ETFs plc

Further Information

* Calls may be recorded