Fidelity Emerging Markets Limited – Publication of Circular and Notice of Extraordinary General Meeting to renew the Company’s authority to buy back Shares

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN,
INTO OR FROMTHE UNITED STATES OF AMERICA(INCLUDING ITS TERRITORIES AND
POSSESSIONS, ANYSTATE OF THE UNITED STATESAND THEDISTRICT OF
COLUMBIA),AUSTRALIA,CANADA,JAPAN,NEW ZEALAND, THE REPUBLIC OFSOUTH AFRICA, ANY
MEMBER STATE OF THE EEAOR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE
UNLAWFUL.

5 May 2026

Fidelity Emerging Markets Limited

Publication of Circular and Notice of Extraordinary General Meeting to renew the
Company’s authority to buy back Shares

The Board of Fidelity Emerging Markets Limited (the “Company”) announces that it
has today published a circular (the “Circular”) which contains a notice of a
extraordinary general meeting (the “Extraordinary General Meeting”), at which
the Board will seek shareholder approval to renew the Company’s share buyback
authority.

The Extraordinary General Meeting will be held at 8.45 a.m. on 28 May 2026 atthe
offices of J.P. Morgan Administration Services (Guernsey) Limited, Level 3, Mill
Court, La Charroterie, St Peter Port, Guernsey GY1 1EJ.

Since the Company’s last annual general meeting held on 1 December 2025 (the
“2025 AGM”), the Company has continued to undertake regular share buybacks to
minimise the short-term volatility and the absolute level of the discount to the
Company’s NAV per Share at which the Shares trade.

In the light of the Company’s recent buyback activity, the Board anticipates the
existing authority to repurchase Shares, granted at the Company’s 2025 AGM, will
likely be fully utilised before it can be refreshed at the next annual general
meeting, which is expected to be held in November 2026. As a result, in order to
ensure that the Company can continue its proactive approach to buying back
Shares, the Board is seeking shareholder approval for the early renewal of its
authority to repurchase Shares.

At the 2025 AGM, Shareholders granted the Company the authority to buy back up
to 14.99 per cent. of the number of the Shares in issue as at the date of the
2025 AGM (the “Existing Authority”). This amounted to 6,851,372 Shares. In the
period from the 2025 AGM to close of business on the Latest Practicable Date the
Company bought back 4,285,376 Shares, representing 63 per cent. of the Existing
Authority. As at close of business on the Latest Practicable Date, the Company’s
remaining buyback authority permitted the repurchase of up to a further
2,565,996 Shares (representing approximately 6 per cent. of the Company’s issued
share capital (excluding Shares held in treasury) as at the Latest Practicable
Date).

The ability to repurchase Shares is a key element of the Company’s approach to
discount management and the Board believes that renewal of the Company’s buyback
authority is in the best interests of the Company and its Shareholders as a
whole.

A copy of the Circular will be submitted to the National Storage Mechanism and
will shortly be available for inspection
athttps://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Circular and the
Notice of the Extraordinary General Meeting will also be available on the
Company’s website at fidelity.co.uk/emergingmarkets (https://investment
-trusts.fidelity.co.uk/fidelity-emerging-markets-limited).

Unless otherwise defined, all definitions used in this announcement will have
the same meaning as described in the Circular.

Enquiries:

Fidelity Emerging Markets Limited

Heather Manners(Chair)

via FIL Investments

FIL Investments International (Manager and Company Secretary)

George Bayer + 44 (0)20 7961 4240

Jefferies International Limited (Broker)

Gaudi Le Roux +44 (0)20 7029 8000

Legal Entity Identifier (LEI): 213800HWWQPUJ4K1GS84

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