Investment Strategy Modification Income Series

Leverage Shares plc

18 June 2025

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF THE HOLDERS OF THE ETP SECURITIES. IF ANY ETP SECURITYHOLDER IS IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS IMMEDIATELY

If you have recently sold or otherwise transferred your entire holding(s) of ETP Securities referred to below, you should immediately forward this document 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.

Notice to ETP Securityholders of the Series of ETP Securities listed in the Schedule hereto (each a "Series" and together, the "Relevant Series")

The Issuer hereby gives notice of certain upcoming modifications to the Investment Strategies of the Relevant Series, as further detailed below.

1.   The method of calculation of "Available Receipts" will be amended to clarify that any amounts which, at the discretion of the Portfolio Administrator, should be reinvested in the stock underlying the option, should be taken into account when calculating the "Available Receipts".  The formula for the calculation of "Available Receipts" be therefore be amended to the following:

"The "Available Receipts" will be, in respect of any Interest Payment Date, an amount calculated by the Determination Agent as follows:

(i)         all premiums, distributions, dividends and other payments received by the Issuer in respect of the Collateral Assets during the period beginning on (and including) the Series Issue Date and ending on (and including) the Currency Business Day prior to the related Interest Declaration Date but not including the liquidation proceeds of any Collateral Assets which have been liquidated to fund the payment of any Redemption Amounts which may be or have been payable in respect of ETP Securities:

less each of:

(ii)         the aggregate of all Interest Amounts which have been paid by the Issuer since the Series Issue Date;

(iii)        all fees, costs, expenses and amounts of Tax which relate to the ETP Securities (including but not limited to any Funding and Brokerage Fees and any amounts of Arranger Fee) which have been paid or incurred by the Issuer during the period beginning on the Series Issue Date and ending on (and including) the Currency Business Day prior to the related Interest Declaration Date or which are otherwise payable by the Issuer;

(iv)        to the extent not included in (iii) above, any amount that the Portfolio Administrator determines, and notifies to the Determination Agent, that it is appropriate to reserve for the payment of fees, costs, expenses and amounts of Tax (including but not limited to any Funding and Brokerage Fees and any amounts of Arranger Fee) relating to the ETP Securities which are expected to be incurred or become payable by the Issuer following the Interest Declaration Date; and

(v)        any amount that the Portfolio Administrator determines, and notifies to the Determination Agent, that it is appropriate to reserve for the payment of Interest Amounts on subsequent Interest Payment Dates or to be reinvested in the Option Underlying."

2.   The "Type of Option" and/or "Option Expiry" and/or "Strike Price Ranges" applicable to the Investment Strategies listed below be amended as per the table below.

3.   The options sold by the Issuer may have a "Monthly Expiry Option" as well as a "Daily Option Expiry" or a "Weekly Option Expiry". For options which are expressed to have a "Monthly Expiry Option", the option will expire approximately one month after the date on which the option becomes effective, as determined by the exchange where the relevant option is traded.

The changes set out above are collectively referred to herein as the "Modifications".

The Modifications fall within the definition of an "Investment Strategy Modification" as defined in the Conditions. The Issuer is permitted to make the Modifications without the consent of the Trustee or the ETP Securityholders  of the Relevant Series pursuant to Condition 14.2(B).

The Modifications shall be effective on 23 June 2025.

Furthermore, the Conditions governing the Relevant Series will be amended and restated to reflect, inter alia, the Modifications. The Issuer will notify the ETP Securityholders separately in relation to the effective date of the amended and restated Conditions.

The Issuer and the Trustee will enter into a deed of amendment and restatement for the purpose of amending and restating the Conditions in accordance with Condition 14.2(B).

Capitalised terms used, but not defined, in this notice shall have the meaning given thereto in the Master Definitions Schedule in relation to the Programme dated 17 July 2024.

If you have any queries arising from this notice, please contact us at [email protected].

Yours sincerely

The Directors

Leverage Shares plc

Schedule