Wahed and KraneShares Announce the Launch of KWIN: A Shariah-Compliant Alternative Income ETF for Faith-Aligned Investors

Wahed, a global leader in Shariah-compliant digital investing, together with KraneShares, a specialist in innovative, research-driven exchange-traded funds (ETFs), is proud to introduce the KraneShares Wahed Alternative Income Index ETF (NYSE: KWIN). This fund is designed to offer investors an innovative and Shariah-compliant approach to generating alternative income. Shariah Compliant Alternative Income Without Compromise The Fund (KWIN) seeks to track the performance of the Wahed Shariah Alternative Income Index, an index specifically designed to comply with Islamic principles while providing an alternative income. Unlike conventional income funds that rely heavily on interest-bearing fixed-income securities, KWIN aims to generate returns through Shariah-compliant forward sale agreements. This structure enables the fund to pursue alternative income in a manner permitted under Shariah principles, while mitigating exposure to equity market risk. "KWIN was created for investors who want to stay true to their faith while accessing alternative income-generating investment strategies," said Mohsin Siddiqui, Chief Executive Officer of Wahed. "We have combined rigorous Shariah screening with modern portfolio techniques to give Muslims and values-based investors a product that is both halal and competitive in today's markets." Innovation in Islamic Alternative Income Sukuk have been considered the default fixed-income option for Shariah-compliant investors. While they serve an important role, Sukuk are often illiquid, exhibit elevated price volatility and can be exposed to sovereign or corporate credit risk. KWIN has been engineered as an alternative to clients seeking Shariah compliant alternative income by providing greater liquidity through an ETF format, offering daily tradability. The forward sale agreements are effected using a combination of exchange-traded FLEX contracts, on Shariah-compliant stocks. The strategy is designed to provide a delta-neutral outcome*, meaning it is not sensitive to the direction of the underlying stock's price. KWIN aims to provide investors with a modern, efficient, and potentially more rewarding alternative to Sukuk, without compromising their faith-based principles. Comprehensive Shariah Screening The underlying index follows a two-step screening process to ensure all holdings are in compliance with Islamic principles as interpreted by Wahed's Shariah Team. 1.  Business Activity Screen — Excludes companies whose primary business involves non-permissible sectors such as:

• • Conventional financial services (banks, insurance, interest-based lending)
  • Alcohol, pork products, tobacco
  • Gambling, gaming, and adult entertainment
  • Weapons manufacturing and other industries contrary to Islamic ethics

2.  Financial Ratio Screen — Excludes companies with excessive debt or that derive more than 5% of their revenue from non-permissible activities. All portfolio holdings are reviewed quarterly and monitored by Wahed's Shariah Team, ensuring continuous compliance. A Partnership of Expertise KWIN represents a strategic collaboration between Wahed, globally recognized for making halal investing accessible through its digital platforms and deep Shariah governance expertise, and KraneShares, known for delivering thematic, alternative, and non-traditional index-based strategies to investors worldwide. "KWIN reflects our commitment to innovative alternative income solutions that leverage advanced capital markets strategies," said Jonathan Shelon, CFA, COO at KraneShares. "We are proud to integrate Wahed's global expertise and particular focus on the needs of Middle Eastern investors into KWIN, and to provide an alternative income stream that we believe will resonate in today's uncertain market environment." *The Fund's strategy is designed to achieve a delta-neutral outcome, meaning that the overall portfolio is constructed so that small changes in the price of the underlying stocks have minimal impact on the Fund's value. However, a delta-neutral position does not eliminate all risk. The Fund remains subject to other risks, including larger price movements, changes in volatility, time decay, and other market factors. Investors may still experience losses, and there is no guarantee that the strategy will be successful in maintaining a delta-neutral position or in achieving its investment objectives.