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Ashmore SICAV

Société d’Investissement à Capital Variable Luxembourg R.C.S. Luxembourg B 90279

UNAUDITED SEMI-ANNUAL REPORT

For the period ended 30 June 2026

Page 2

General Information

The information represented in this report relates to the period from 1 January 2026 to 30 June 2026. It should not be taken as an indication of the future development of Ashmore SICAV (the “Company”).

The Board of Directors may establish different portfolios of assets in one or more Sub-Funds of the Company at any time to meet, in its opinion, the needs of different Shareholders. During the period under review, the Company comprised 29 Sub-Funds, namely:

• Ashmore SICAV Emerging Markets Debt Fund • Ashmore SICAV Emerging Markets Sovereign Debt Fund • Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund • Ashmore SICAV Emerging Markets Local Currency Bond Fund • Ashmore SICAV Emerging Markets Local Currency Bond Fund 2 (terminated operations on 26 June 2026) • Ashmore SICAV Emerging Markets Investment Grade Local Currency Fund

• Ashmore SICAV Emerging Markets Multi-Asset Fund • Ashmore SICAV Emerging Markets Corporate Debt Fund • Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund

• Ashmore SICAV Emerging Markets Short Duration Fund

• Ashmore SICAV Emerging Markets Equity Fund

• Ashmore SICAV Emerging Markets Equity ESG Fund

This report does not constitute an offer or an invitation to purchase Shares of the Sub-Funds referred to herein. Subscriptions are only valid if made on the basis of the current Prospectus, Key Investor Information Document (KIID), and Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs) supplemented by the latest audited annual report. Should the reference date of the audited annual report date back more than eight months, the subscriber must also be supplied with a semi-annual report.

The figures stated in this report are historical and not necessarily indicative of future performance.

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Contents

Introduction

Financial Statements

Fund Statistics

Schedules of Investments 4

Notes 5

1 Introduction Directory 4 Investment Manager ’s Report 6

2 Combined Financial Statements Statement of Net Assets 17 Statement of Operations and Changes in Net Assets 23

3 Fund Statistics

Fund Statistics 30

4 Schedules of Investments Ashmore SICAV Emerging Markets Debt Fund 57 Ashmore SICAV AV Emerging Markets Sovereign Debt Fund 66 Ashmore SICAV AV Emerging Markets Sovereign Investment Grade Debt Fund 74 Ashmore SICAV AV Emerging Markets Local Currency Bond Fund 79 Ashmore SICAV AV Emerging Markets Investment Grade Local Currency Fund 84

Ashmore SICAV AV Emerging Markets Multi-Asset Fund 103 Ashmore SICAV AV Emerging Markets Corporate Debt Fund 108 Ashmore SICAV AV Emerging Markets Investment Grade Corporate Debt Fund 1 16

Ashmore SICAV AV Emerging Markets Short Duration Fund 122

Ashmore SICAV AV Emerging Markets Equity Fund 144

Ashmore SICAV AV Emerging Markets Equity ESG Fund 149

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Contents continued

5 Notes

Notes to the Combined Financial Statements 167

Supplementary Information 202

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Introduction

1 Directory 4 Investment Manager’s Report 6

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Ashmore SICAV – Unaudited Semi-Annual Report

1: Introduction

Directory

Registered Office 10 rue du Château d’Eau L – 3364 Leudelange Grand-Duchy of Luxembourg

Directors of the Company Steve Hicks (Chairman) Ashmore Group plc nominated Director

Isabelle Lebbe (Non-Executive Director) r) Partner, law firm Arendt & Medernach S.A

Dennis Robertson (Non-Executive Director)

Management Company Ashmore Investment Management (Ireland) Limited 32 Molesworth Street Dublin 2 Ireland

Investment Manager and Sales Agent Effective 1 April 2026 Ashmore Investment Management Limited 16 Palace Street London SW1E 5JD United Kingdom

Until 31 March 2026 Ashmore Investment Management Limited 61 Aldwych London WC2B 4AE United Kingdom

Principal Sales Agent Ashmore Investment Management (Ireland) Limited 32 Molesworth Street Dublin 2 Ireland

Depositary and Principal Paying Agent Northern Trust Global Services SE 10 rue du Château d’Eau L – 3364 Leudelange Grand-Duchy of Luxembourg

Administrator and Transfer Agent Northern Trust Global Services SE 10 rue du Château d’Eau L – 3364 Leudelange Grand-Duchy of Luxembourg

Auditor Ernst & Young S.A. 35E, Avenue John F. Kennedy L-1855 Luxembourg Grand-Duchy of Luxembourg

Legal Advisor Arendt & Medernach S.A. 41A Avenue John F. Kennedy L – 2082 Luxembourg Grand-Duchy of Luxembourg

Sharia Supervisory Services Shariyah Review Bureau W.L.L. Building No. 872, Office 41 & 42 Road 3618, Seef 436 Bahrain

Financial Servicing Austria UniCredit Bank Austria AG (Paying & Information Agent) Rothschildplatz 1 A-1020 Vienna Austria

France BNP Paribas Securities Services (Paying Agent) 9 rue du Débarcadère 93500 Pantin France

Germany Deutsche Bank AG (Paying & Information Agent) TSS post-IPO Services Taunusanlage 12 60325 Frankfurt am Main Germany

Italy BNP Paribas Securities Services, Milan Branch (Paying Agent) Piazza Lina Bo Bardi 3 20124 Milano Italy

Spain Allfunds Bank S.A. (Distributor) Calle Estafeta 6 – Edificio 3 Complejo Plaza de la Fuente La Moraleja 28109 Alcobendas Spain

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Directory continued

Introduction Sweden MFEX Mutual Funds Exchange AB (Paying Agent) Grev Turegatan 19 11438 Stockholm Sweden

Switzerland BNP PARIBAS, Paris Zurich branch (Paying & Information Agent) Selnaustrasse 16 8002 Zurich Switzerland

United Kingdom Effective 1 April 2026 Ashmore Investment Management Limited 16 Palace Street London SW1E 5JD United Kingdom

Until 31 March 2026 Ashmore Investment Management Limited 61 Aldwych London WC2B 4AE United Kingdom

United States of America and Canada Ashmore Investment Management (US) Corporation (Placing Agent) 475 Fifth Avenue 15th Floor New York NY 10017 United States of America

Financial Servicing continued

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Ashmore SICAV – Unaudited Semi-Annual Report

1: Introduction

Investment Manager’s Report

Market Review

During Q1, global markets started on a strong footing, as growth was accelerating on the back of a generational buildup in computing and energy infrastructure, when a geopolitical curveball led to a sharp correction throughout the month of March. The coordinated Israeli and US attack on Iran ended up shutting down traffic out of the Strait of Hormuz, sending oil prices and interest rates sharply higher, and stocks lower. Credit spreads widened modestly as the market generally priced in higher inflation but not much impact on growth. The correction lasted precisely a month, with the market trough reached on March 30th. This was around double the length of the average market correction triggered by war in the region, reflecting the fact that never before had 20% of the global supply of oil and energy products been shut down at once.

During Q2 global oil prices came down (Brent oil -38%) and equity markets staged a big relief rally (MSCI World +13.3%), but interest rates continued rising, notably in the US. Although inflation expectations began to price in lower energy prices after the re-opening of the Strait of Hormuz (US 2-year inflation swaps fell by 47 basis points (bps) to 2.33%), front-end nominal bond yields moved in the other direction as markets priced in higher policy rates by global central banks, especially in the US where the US 2-year Treasury yield was up 38 bps to 4.18%. Long-end bond yields, however, were better behaved: the US 10-year Treasury yield was up just 15 bps to 4.46% and the 10-year German bund yield was down 14 bps to 2.86%. The equity rally unfolded in three phases: a short-covering rebound in April following Iranian President Pezeshkian’s openness to a negotiated settlement; a broadening rally in May led by artificial intelligence and semiconductor names, as “wafers and watts” outperformed energy, with MSCI Korea up 35% and MSCI Taiwan up 16% that month alone; and a volatile June, in which markets absorbed both an Iran-US Memorandum of Understanding, signed 17 June, and the hawkish debut of Kevin Warsh as Federal Reserve Chair.

Overview by investment themes

External Debt

The External Debt theme represents US dollar denominated Emerging Market (EM) sovereign and quasi-sovereign bonds. Ashmore SICAV Funds which are managed under this theme are primarily benchmarked against the JP Morgan EMBI Global Diversified Index, which returned +3.32% in the six months to 30 June 2026.

Venezuela, Argentina and Ukraine were the top contributors to performance for the JP Morgan EMBI GD Index. Venezuela's post-Maduro transition continued to take shape in June, with acting President Delcy Rodríguez facing her

first major political test after earthquakes struck the country, turning the disaster response into an early contest over the administration's competence as it raced to rescue victims, restore infrastructure and secure international assistance. On the financial front, the contest for Venezuela's financial advisory mandate intensified after Lazard undercut rival Centerview with a proposed fee of just US$ 25 million, a fraction of the at least US$ 150 million Centerview had been negotiating only a month earlier when it was announced as the country's sole financial adviser, a competitive dynamic that itself signals that the post-Maduro restructuring process is moving into a more orderly phase. Argentina's credit trajectory continued to improve in June, with S&P upgrading the sovereign rating one notch to 'B-' from 'CCC+' with a stable outlook, citing positive fiscal outcomes and improving external liquidity, a move that gradually expands the pool of investors mandated to hold Argentine debt. The upgrade was underpinned by continued fiscal discipline, with the monthly budget surplus reaching ARS 1.92 trillion in May, extending a positive trend from ARS 633 billion previously, and by a stronger external position, as the trade surplus widened to US$ 3.5 billion in May from US$ 2.71 billion on record exports.

United Arab Emirates (UAE), Bahrain and Indonesia were the main, small negative contributors over the period. The UAE's oil sector demonstrated notable operational resilience through the Iran conflict, with the International Energy Agency reporting that exports recovered to roughly 85% of pre-war levels at 4.3 million barrels per day (mbpd) in early June, up sharply from just 1.9 mbpd in March, driven by the Habshan-Fujairah pipeline that bypasses the Strait of Hormuz entirely and by Fujairah storage that sustained deliveries to Asian buyers through the worst of the disruption. An accelerated expansion of that pipeline, ordered in May, will double its capacity to 3.6 mbpd by 2027, while state producer ADNOC is pushing total export capacity toward 5 mbpd by that year, comfortably above its OPEC+ quota of 3.41 mbpd, after the UAE left the OPEC+ grouping on 1 May to remove that constraint. Bank Indonesia (BI) delivered a further 25 bps rate hike to 5.75% in June, taking cumulative tightening to 75 bps across May and June including an unscheduled inter-meeting move, as policymakers fought to stabilise the rupiah amid a sustained selloff tied to policy uncertainty under President Prabowo Subianto.

Local Currency and Local Currency Bonds

Ashmore SICAV Funds which are managed under this theme are primarily benchmarked against the JP Morgan GBI-EM Global Diversified Net of Taxes Index, which returned +1.28% in the six months to 30 June 2026.

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Investment Manager’s Report continued

Introduction

Over the period, the best performers were Colombian Peso, Mexican Peso and Brazilian Real. Colombia's presidential election dominated the June narrative, with right-wing candidate Abelardo de la Espriella narrowly defeating leftist Iván Cepeda in one of the closest run-off results in the country's history, securing 49.7% of the vote against 48.7% following certification by the National Electoral Council. The tight margin, and allegations of coerced voting in several armed-group-influenced regions, point to a governance challenge ahead, though President Gustavo Petro has since confirmed the transition process is under way. On monetary policy, the central bank (BanRep) hiked from 11.3% to 12.0% in June, with economists surveyed by Bloomberg expecting further tightening now that the electoral uncertainty that had constrained the bank's room for manoeuvre has eased. Consumer price inflation (CPI) came in at 5.8% year-on year (YoY) in May, below market expectations but above April's 5.7% reading, while month-on-month inflation slowed to 0.5%. Mexico's central bank (Banxico) held its policy rate unchanged at 6.5% in June, in a unanimous decision that reflected greater concern over weak growth than over inflation. CPI eased to 3.9% YoY in May from 4.5% in April, undershooting expectations on softer agricultural prices and government measures curbing fuel pass-through, while core inflation also moderated to 4.2%. The trade surplus narrowed to US$ 2.3 billion in May from US$ 4.5 billion previously, even as retail sales growth improved to 4.4% YoY from 2.9%. Fitch cut its 2026 growth forecast to 1.0% from 1.7% on a weak first quarter, though it expects some support from the football World Cup and does not anticipate a policy rate change through 2028. The United States Mexico-Canada Agreement (USMCA) review is set to miss its 1 July deadline, with President Donald Trump suggesting Washington might not renew the pact, although the peso shrugged off the remarks and treaty continuity remains the base case amid prolonged negotiations over auto tariffs and rules of origin.

The main detractors over the period were Indonesian Rupiah, Thai Baht and Indian Rupee. Bank Indonesia (BI) delivered a further 25 bps rate hike to 5.75% in June, taking cumulative tightening to 75 bps across May and June including an unscheduled inter-meeting move, as policymakers fought to stabilise the Rupiah amid a sustained selloff tied to policy uncertainty under President Prabowo Subianto. Consumer price inflation accelerated to 3.1% YoY in May, above both expectations and April's 2.4% reading, while the trade surplus collapsed to just US$ 89.0 million in April from US$ 3.3 billion previously, and foreign exchange reserves slipped to US$ 144.9 billion from US$ 146.2 billion. Governor Perry Warjiyo said the central bank would continue to go "all-out" to defend the currency, alongside tighter oversight of local and international banks’ foreign exchange dealings. India’s central bank (RBI) held its policy rate unchanged at 5.25% in June, maintaining a neutral stance while trimming its FY27

growth forecast by 30 bps to 6.6% and raising its inflation projection by 50 bps to 5.1%, reflecting the impact of the Iran conflict and a slow start to the monsoon. CPI edged up to 3.9% YoY in May, above April’s 3.5% reading, while wholesale price inflation surged to a four-year high of 9.7% on fuel and power cost pass-through from the Middle East conflict. Growth in the fourth quarter of FY26 held at 7.8% YoY, supported by strong consumption and investment, though the unemployment rate rose to 5.5% from 5.2%.

Corporate Debt

Ashmore SICAV Funds which are managed under this theme are primarily benchmarked against the JP Morgan CEMBI Broad Diversified Index. The benchmark returned +2.21% in the six months to 30 June 2026.

Year-to-date, Global EM issuance has come in at US$ 114 billion, with EM ex-China contributing US$ 107 billion. The pace has been driven by Asia and ME&A, which have led the charge with US$ 48 billion and US$ 38 billion, in gross issuance respectively. Meanwhile, activity has been notably lighter in China and EM Europe, where issuance has reached only US$ 7 billion and US$ 14 billion. On a net basis, Global EM issuance stands at US$ 114 billion, across Global EM, with the bulk of this activity driven by ME&A. Looking ahead, EM corporate debt remains well positioned to perform constructively, supported by its diversification benefits relative to US credit. We believe EM corporate debt continues to offer robust compensation for risk, with higher average yields, wider credit spreads, and lower duration compared with Developed Market (DM) peers. These characteristics will provide a degree of insulation against ongoing rate volatility while enhancing income potential. Moreover, periods of geopolitical stress have historically created entry points, as technical outflows tend to overshoot underlying fundamentals. Overall, despite the near-term uncertainty, the asset class continues to offer a compelling and differentiated source of return within global fixed income portfolios, with volatility creating selective opportunities for active investors in our view.

The top country contributors over the period were Argentina, Colombia and Hong Kong. In Argentina, the credit trajectory continued to improve, with S&P upgrading the sovereign rating to B- from CCC+ with a stable outlook based on positive fiscal outcomes and improving external liquidity, making Argentinian debt more attractive to hold for investors. Positive fiscal outcomes were reflected in May by the monthly budget surplus extending a positive trend (reached ARS 1.92 trillion), the trade surplus widening to US$ 3.5 billion and CPI easing to 33.2% YoY. In Colombia, the corporate lending environment showed improvement, with financial institutions reporting a gradual recovery in corporate loan portfolios. However, debt growth lagged broader economic activity, reflecting weak domestic investment and persistent macroeconomic uncertainty.

Overview by investment themes ( continued) d)

Local Currency and Local Currency Bonds ( continued) d)

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Ashmore SICAV – Unaudited Semi-Annual Report

1: Introduction

Investment Manager’s Report continued

Furthermore, elevated interest rates, sovereign fiscal pressures, and cautious central bank policy have kept local borrowing conditions tight, constraining corporate debt appetites.

Small negative country contributors were Moldova, Paraguay and Lithuania.

Equities

The MSCI EM Index returned +23.85% for H1 2026.

After a prolonged market cycle when EM Equity was overshadowed by US exceptionalism, 2025 was an inflection point that saw the asset class considerably outperform the Developed World. This outperformance accelerated in January and February before an escalating conflict in the Middle East paused outperformance and created risk off sentiment in global equity markets. Q2 saw a quick recovery, and we believe EM fundamentals remain intact and the outlook for Emerging Markets is positive. The asset class’s more attractive risk-reward profile, and the lasting ramifications of US policy on its economy, and currency have set the stage for a persistent and sustainable shift in market leadership towards EM.

South Korea, Taiwan and Brazil were the top country contributors over the period and China, India and Indonesia were the top country detractors over the period. The fundamental story surrounding Artificial Intelligence (AI) capex and the East Asian chip complex remains intact. South Korea continues to see investment in AI infrastructure development after a group announced two 1.2GW mega data centres. In Taiwan, TSMC reported a 30% YoY increase in May sales to US$ 13.2 billion. In India, the Reserve Bank of India expanded the sovereign debt foreigners can invest in without quantitative limits and created new incentives for companies and banks to raise funds from international markets. China, meanwhile, continued to see market returns driven by poor economic data. In response, the Chinese government announced three high profile projects including the Three Gorges waterway project, in addition to data centre build out after a significant slowdown in fixed asset investment.

Outlook

Year-to-date (YTD) sovereign external debt markets have delivered a solid +3.3% return (J.P. Morgan EMBI Global Diversified Index). Beneath the headline, performance has been uneven but High Yield (HY) has continued to outperform Investment Grade (IG) bonds (5.4% versus 1.2% returns, respectively). We expect this to continue.

The Strait of Hormuz crisis proved to be a temporary disruption rather than a structural break. Inflation has peaked, real wages are recovering, and in our view the conditions for a Goldilocks resumption in late 2026 and early 2027 are falling into place. The capex Supercycle, anchored in Artificial Intelligence (AI), defence, energy, and supply chain reorientation, continues to support global growth and materially reduces the risk of recession, which is the single greatest risk to Emerging Market (EM) credit spreads.

Against this macro backdrop, EM sovereign debt fundamentals are improving in both absolute terms and relative to DM peers. This can be evidenced by the credit ratings trends of the last three years, which feature many more upgrades than downgrades. The response to the recent oil shock has also reinforced the credibility of the monetary policy frameworks across EM. Some central banks have lowered their inflation targets. Commitments to fiscal deficit ceilings remain strong, with a few rare exceptions. In contrast, the widely recognised governance scores in several key DM economies have deteriorated markedly, reducing the relative risk premium that EM has historically carried.

In EM sovereign debt markets, the best opportunities are likely to be found in credits where high carry is backed by improving fundamentals, credible policy adjustment and a plausible path to sustained market access. Nigeria is a good example. Fuel subsidy removal, exchange rate liberalisation and tighter monetary policy have helped rebuild investor confidence, while higher oil production, reduced fuel-import pressures and increased domestic refining capacity have strengthened the growth and external backdrop. S&P’s upgrade of Nigeria to B in May 2026 confirms that policy adjustment is beginning to register in the sovereign credit profile.

From a valuation perspective, credit spreads are admittedly tight by historical standards, but this obscures a more nuanced picture. Yields remain elevated in absolute terms at close to 7%, offering an attractive carry well above what most DM asset classes provide. Besides, an increasingly large part of the tightening in EM debt spread relative to Treasuries is the worsening credit and issuance premia embedded in the US Treasury curve itself: a look at EM debt spreads relative to swaps shows a much more flattering picture. Furthermore, the EMBI HY-to-US HY spread ratio, at 1.43x — above its long-run median of 1.29x — still offers relative value. Compared with US equities, EM sovereign debt is the most attractively valued it has been relative to the S&P 500 earnings yield since the 1998–2001 crisis era.

In summary, the EM sovereign debt asset class remains structurally under-owned by global allocators relative to its risk-adjusted return history. With a default rate near zero over the past three years, improving recovery rates post-restructuring, and a wave of frontier upgrades still in progress, the fundamental case for maintaining or increasing EM sovereign debt exposure is compelling.

Overview by investment themes ( continued) d)

Corporate Debt ( continued) d)

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Investment Manager’s Report continued

Introduction Local currency debt also posted a positive return over the period with the J.P. Morgan GBI-EM GD Index gaining +2.4%, coming principally from income as spot FX detracted 0.9%. It was a surprise to see local bonds lag external debt last quarter, in our view.

EM local currency bonds offer a balanced picture at the start of H2 2026. Relative to developed market fixed income, the asset class continues to offer higher income and, in many cases, more attractive real yields, while also providing exposure to monetary policy cycles that are not always aligned with those in the US or Europe. Yet the drivers of return are less straightforward than they were earlier in the cycle. Unlike last year, when falling inflation and broad based easing cycles provided a clear tailwind, returns are now likely to depend much more on country selection and on the interaction between local rates, currencies and policy credibility.

In the first half of the year, the asset class had to absorb a rise in local bond yields, and periodic dollar strength particularly in lower yielding and energy sensitive markets. Carry has remained the stabilising force, but it has not been enough to diminish the importance of currency selection. That leaves the outlook cautiously constructive rather than outright bullish.

Valuations remain one of the stronger arguments for the asset class. EM local yields still look attractive relative to developed market bonds, and in many countries real yields remain high enough to provide a buffer against macro disappointment. However, in several markets, bonds have recovered from earlier weakness. For investors, this means the focus should be less on simply adding broad index duration and more on identifying markets where policy choices continue to support macro stability.

Fundamentals are strong but are no longer improving in every market. The disinflation process that supported EM local bonds through much of the previous cycle is now being tested by higher energy prices, renewed supply side pressures and a less predictable Fed backdrop. The best local rates opportunities are likely to be in countries where inflation expectations remain anchored, real rates are positive, and fiscal policy is credible. There are good examples amongst ‘high yielders’, where the starting point for local rates has been quite high such as Colombia and Hungary.

The most hawkish responses have come from three types of central banks: 1. ‘Balance of payments’ countries that have seen their currencies weakened and have had to hike rates to maintain FX reserves: Bank Indonesia would be the most obvious example, the Central Bank of Türkiye would also be in this group. They have now largely stabilised the situation through repeated hikes; 2. Energy importers where inflation is fuelled by energy cost increases: Chile and Romania would fall in this camp. Their respective central banks have so far decided to ‘look through’ the oil price spike and have been vindicated; 3. Countries running hot, owing to a bump in tech export proceeds, such as South Korea and Taiwan: these countries have the fiscal runway to shield local households from the hike in fuel prices but are still expected to end up hiking rates as second round effects spread in the economy.

Ashmore Investment Management Limited

July 2026

Outlook ( continued) d)

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Ashmore SICAV – Unaudited Semi-Annual Report

1: Introduction

Investment Manager’s Report continued

Sub-Fund performance

Net Asset Value per Share as at 30 June 2026

% Increase/(decrease) in the period NAV (gross of dividends) Ashmore SICAV Emerging Markets Debt Fund Do not span across cell aaa Institutional Class Shares (EUR) Accumulation 115.82 3.55 Institutional Class Shares (NOK) Accumulation 122.10 4.42 Institutional Class Shares (US$) Accumulation 134.75 4.45 Institutional Class Shares (CHF) Income 46.97 2.36 Institutional Class Shares (EUR) Income 17.83 3.56 Institutional Class Shares (GBP) Income 62.30 4.41 Institutional Class Shares (NOK) Income 65.97 4.57 Institutional Class Shares (US$) Income 70.83 4.45 Retail Class Shares (EUR) Accumulation 105.66 3.25 Retail Class Shares (US$) Accumulation 131.36 4.15 Retail Class Shares (CHF) Income 54.41 2.07 Retail Class Shares (EUR) Income 75.84 3.27 Retail Class Shares (US$) Income 60.74 4.15 Z Class Shares (CHF) Accumulation 100.71 2.36 Z Class Shares (EUR) Accumulation 112.13 3.53 Z Class Shares (US$) Accumulation 139.44 4.43 Z Class Shares (EUR) Income 60.91 3.54 Z Class Shares (GBP) Income 56.07 4.40 Z Class Shares (US$) Income 68.59 4.43 Ashmore SICAV Emerging Markets Sovereign Debt Fund Do not span across cell aaa Institutional Class Shares (GBP) Accumulation 143.86 4.57 Institutional Class Shares (US$) Accumulation 138.71 4.60 Institutional Class Shares (US$) Income 103.74 4.61 Institutional II Class Shares (JPY unhedged) Accumulation 26,698.51 8.56 Institutional II Class Shares (US$) Income 108.57 4.69 Institutional III Class Shares (US$) Accumulation 182.13 4.89 Retail Class Shares (US$) Accumulation 127.75 4.29 Retail Class Shares (US$) Income 96.69 4.30 Z 2 Class Shares (GBP) Income 91.04 4.60 Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund Do not span across cell aaa Institutional Class Shares (EUR) Accumulation 107.02 (0.03) Institutional Class Shares (EUR) Income 74.81 (0.04) Institutional Class Shares (US$) Income 101.65 0.88 Institutional II Class Shares (JPY) Income 8,059.09 (0.65) Institutional II Class Shares (JPY unhedged) Accumulation 14,304.01 4.66 Ashmore SICAV Emerging Markets Local Currency Bond Fund Do not span across cell aaa Institutional Class Shares (EUR) Accumulation 93.51 0.15 Institutional Class Shares (GBP) Accumulation 113.21 1.00 Institutional Class Shares (US$) Accumulation 103.69 1.14 Institutional Class Shares (CHF) Income 31.23 (1.06) Institutional Class Shares (EUR) Income 47.79 0.15 Institutional Class Shares (EUR unhedged) Income 83.42 3.89 Institutional Class Shares (US$) Income 67.30 1.14 Institutional III Class Shares (EUR unhedged) Accumulation 123.46 4.38 Retail Class Shares (CHF) Accumulation 90.85 (1.33) Retail Class Shares (EUR) Accumulation 100.07 (0.16) Retail Class Shares (SGD) Accumulation 99.53 (0.55) Retail Class Shares (US$) Accumulation 125.38 0.84 Retail Class Shares (AUD) Income 66.62 0.66 Retail Class Shares (EUR) Income 45.37 (0.17) Retail Class Shares (GBP) Income 52.25 0.70 Retail Class Shares (HKD unhedged) Income 74.71 1.62 Retail Class Shares (US$) Income 56.97 0.83 Z Class Shares (EUR) Accumulation 107.77 0.13

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Investment Manager’s Report continued

Introduction Net Asset Value per Share as at 30 June 2026

% Increase/(decrease) in the period NAV (gross of dividends) Ashmore SICAV Emerging Markets Local Currency Bond Fund continued Z Class Shares (US$) Accumulation 103.93 1.12 Z Class Shares (GBP) Income 50.49 0.97 Z Class Shares (US$) Income 74.01 1.11 Z 2 Class Shares (EUR) Accumulation 112.82 0.25 Z 2 Class Shares (GBP) Accumulation 107.20 1.08 Z 2 Class Shares (GBP unhedged) Accumulation 118.77 2.57 Z 2 Class Shares (US$) Accumulation 118.62 1.22 Z 2 Class Shares (GBP) Income 69.10 1.08 Z 2 Class Shares (GBP unhedged) Income 79.40 2.58 Z 2 Class Shares (US$) Income 76.54 1.22 Ashmore SICAV Emerging Markets Investment Grade Local Currency Fund Do not span across cell aaa Institutional Class Shares (EUR unhedged) Income 100.43 2.16 Institutional Class Shares (US$) Income 63.96 (0.55)

Do not span across cell aaa

Ashmore SICAV Emerging Markets Multi-Asset Fund Do not span across cell aaa Institutional Class Shares (EUR) Accumulation 101.79 9.65 Institutional Class Shares (US$) Income 125.24 10.83 Ashmore SICAV Emerging Markets Corporate Debt Fund Do not span across cell aaa Institutional Class Shares (US$) Accumulation 121.74 1.13 Institutional Class Shares (EUR) Income 50.43 0.28 Institutional Class Shares (US$) Income 60.98 1.13 Retail Class Shares (CHF) Accumulation 80.40 (1.14) Retail Class Shares (EUR) Accumulation 90.27 (0.04) Retail Class Shares (US$) Accumulation 111.75 0.80 Retail Class Shares (CHF) Income 39.18 (1.19) Retail Class Shares (EUR) Income 41.81 (0.04) Retail Class Shares (GBP) Income 50.96 0.79 Retail Class Shares (US$) Income 52.89 0.79 Z Class Shares (CHF) Accumulation 89.22 (0.89) Z Class Shares (EUR) Accumulation 99.74 0.25 Z Class Shares (US$) Accumulation 123.37 1.10 Z Class Shares (CHF) Income 40.51 (0.89) Z Class Shares (EUR) Income 45.26 0.25 Z Class Shares (GBP) Income 51.27 1.10 Z Class Shares (US$) Income 56.55 1.09 Z 2 Class Shares (CHF) Accumulation 78.51 (0.78) Z 2 Class Shares (EUR) Accumulation 105.79 0.37

Sub-Fund performance continued

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Investment Manager’s Report continued

Net Asset Value per Share as at 30 June 2026

% Increase/(decrease) in the period NAV (gross of dividends) Ashmore SICAV Emerging Markets Corporate Debt Fund continued Z 2 Class Shares (US$) Accumulation 130.70 1.21 Z 2 Class Shares (CHF) Income 52.47 (0.79) Z 2 Class Shares (EUR) Income 57.40 0.34 Z 2 Class Shares (GBP) Income 61.09 1.22 Z 2 Class Shares (US$) Income 66.61 1.21 Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund Do not span across cell aaa Institutional Class Shares (US$) Accumulation 145.43 0.40 Institutional Class Shares (EUR) Income 80.57 (0.45)

Do not span across cell aaa

Ashmore SICAV Emerging Markets Short Duration Fund Do not span across cell aaa Institutional Class Shares (EUR) Accumulation 99.65 2.17 Institutional Class Shares (US$) Accumulation 116.96 2.99 Institutional Class Shares (US$) Income 55.65 3.02 Institutional II Class Shares (JPY) Accumulation 6,607.11 1.56 Institutional II Class Shares (US$) Income 35.41 3.01 Retail Class Shares (AUD) Accumulation 95.40 2.87 Retail Class Shares (CAD) Accumulation 80.25 1.88 Retail Class Shares (CHF) Accumulation 71.80 0.72 Retail Class Shares (EUR) Accumulation 88.12 1.83 Retail Class Shares (GBP) Accumulation 92.57 2.71 Retail Class Shares (US$) Accumulation 108.86 2.64 Retail Class Shares (AUD) Income 57.14 2.89 Retail Class Shares (CAD) Income 54.28 1.87 Retail Class Shares (EUR) Income 48.71 1.83 Retail Class Shares (GBP) Income 55.70 2.70 Retail Class Shares (HKD unhedged) Income 54.03 3.42 Retail Class Shares (SGD) Income 53.66 1.38 Retail Class Shares (US$) Income 60.31 2.65 Retail Class Shares (US$) Income II 32.53 2.64 Z Class Shares (CHF) Accumulation 76.77 1.07 Z Class Shares (EUR) Accumulation 85.11 2.15 Z Class Shares (GBP) Accumulation 80.38 3.02 Z Class Shares (US$) Accumulation 104.39 2.97 Z Class Shares (EUR) Income 47.20 2.14 Z Class Shares (GBP) Income 51.40 3.03 Z Class Shares (US$) Income 58.12 2.96 Z 2 Class Shares (US$) Accumulation 118.87 3.02 Z 2 Class Shares (EUR) Income 49.54 2.18 Z 2 Class Shares (GBP) Income 55.03 3.10 Z 2 Class Shares (US$) Income 55.78 3.02

Do not span across cell aaa

Sub-Fund performance continued

Page 15

Investment Manager’s Report continued

Introduction Net Asset Value per Share as at 30 June 2026

% Increase/(decrease) in the period NAV (gross of dividends)

Do not span across cell aaa

Ashmore SICAV Emerging Markets Equity Fund Do not span across cell aaa Institutional Class Shares (GBP) Accumulation 105.59 5.59 Launched 18 May 2026 Institutional Class Shares (NOK) Accumulation 162.71 27.74 Institutional Class Shares (US$) Accumulation 234.29 28.29 Institutional III Class Shares (AUD unhedged) Income 150.59 24.11 Institutional IV Class Shares (JPY) Accumulation 11,143.56 11.44 Launched 16 April 2026 Institutional IV Class Shares (JPY unhedged) Accumulation 11,262.64 12.63 Launched 16 April 2026 Retail Class Shares (US$) Accumulation 196.39 28.11 Z Class Shares (GBP) Accumulation 179.87 27.77 Z 2 Class Shares (US$) Accumulation 228.79 28.39 Z 3 Class Shares (GBP unhedged) Accumulation 185.34 30.25 Z 3 Class Shares (US$) Accumulation 133.68 28.53

Do not span across cell aaa

Ashmore SICAV Emerging Markets Equity ESG Fund Do not span across cell aaa Institutional Class Shares (GBP) Accumulation 122.14 22.14 Launched 6 February 2026 Institutional Class Shares (US$) Accumulation 267.49 29.20 Institutional III Class Shares (US$) Accumulation 284.87 29.85 Z Class Shares (GBP) Accumulation 150.92 28.67 Do not span across cell aaa

Sub-Fund performance continued

Page 16

Ashmore SICAV – Unaudited Semi-Annual Report

1: Introduction

Investment Manager’s Report continued

Net Asset Value per Share as at 30 June 2026

% Increase/(decrease) in the period NAV (gross of dividends)

Last official Net Asset Value per Share

% Increase/(decrease) in the period NAV (gross of dividends) Ashmore SICAV Emerging Markets Sovereign Debt Fund Do not span across cell aaa Z 2 Class Shares (US$) Income 92.80 5.02 Terminated 16 June 2026

Ashmore SICAV Emerging Markets Local Currency Bond Fund 2 Do not span across cell aaa Institutional Class Shares (US$) Accumulation 113.43 1.27 Terminated 26 June 2026 Institutional III Class Shares (US$) Accumulation 134.52 1.56 Terminated 26 June 2026

Do not span across cell aaa

Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund Do not span across cell aaa Institutional Class Shares (EUR) Accumulation 106.41 (0.42) Terminated 15 April 2026 Institutional II Class Shares (JPY) Accumulation 10,314.51 0.47 Terminated 2 March 2026

Do not span across cell aaa

Ashmore SICAV Emerging Markets Short Duration Fund Do not span across cell aaa Retail Class Shares (CHF) Income 36.72 0.93 Terminated 9 June 2026 Retail Class Shares (JPY) Income 4,458.50 0.67 Terminated 20 May 2026

Do not span across cell aaa

Sub-Fund performance continued

Terminated share classes

Page 17

Investment Manager’s Report continued

Introduction Last official Net Asset Value per Share

% Increase/(decrease) in the period NAV (gross of dividends)

Do not span across cell aaa

Sub-Fund performance continued

Page 18

Combined Financial Statements

2 Statement of Net Assets 17 Statement of Operations and Changes in Net Assets 23

Page 19

Statement of Net Assets As at 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Financial Statements

Ashmore SICAV – Unaudited Semi-Annual Report

2: Combined Financial Statements

Note 1.01 Combined * US$

3.03 Ashmore SICAV Emerging Markets Debt Fund US$

3.08 Ashmore SICAV Emerging Markets Sovereign Debt Fund US$

3.13 Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund US$

3.33 Ashmore SICAV Emerging Markets Local Currency Bond Fund US$

Investments at market value 2 3,450,978,932 349,531,111 121,339,414 163,429,313 822,767,548 Acquisition cost 3,403,220,21 1 332,495,637 1 13,640,793 170,496,1 19 810,868,565

Cash at bank 58,521,608 274,653 88,710 153,824 10,114,376

Cash pledged as collateral 13 9,524,487 – – – 6,995,995

Unrealised gain on financial derivative instruments 11 9,255,724 823 1 462 6,629,742

Other assets 10 100,368,312 7,355,086 2,523,532 6,891,688 49,987,959

Total assets 3,628,649,063 357,161,673 123,951,6 57 170,475,287 896,495,620

Bank overdraft (1,658,728) – – – Cash received as collateral 13 (1,765,903) – – – (1,624,300)

Unrealised loss on financial derivative instruments 11 (17,294,460) (103,137) (203) (240,170) (9,341,530)

Other liabilities 10 (34,701,056) (1,128,226) (322,413) (4,366,349) (1,798,287)

Total liabilities (55,420,147) (1,231,363) (322,616) (4,606,519) (12,764,117)

Total net assets 3,573,228,916 355,930,310 123,629,041 165,868,768 883,731,503

* Includes the net assets of Sub-Funds not registered in Switzerland .

Page 20

Ashmore SICAV – Unaudited Semi-Annual Report

2: Combined Financial Statements

Statement of Net Assets continued As at 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Note

3.43 Ashmore SICAV Emerging Markets Investment Grade Local Currency Fund US$

3.73 Ashmore SICAV Emerging Markets Multi-Asset Fund US$

3.78 Ashmore SICAV Emerging Markets Corporate Debt Fund US$

Investments at market value 2 28,448,013 17,291,783 127,868,023 Acquisition cost 28,452,623 15,959,168 232,502,015

Cash at bank 150,970 399,010 1,189,420

Cash pledged as collateral 13 77,695 – 547,860

Unrealised gain on financial derivative instruments 11 147,556 6,303 481,366

Other assets 10 720,230 389,053 5,543,991

Total assets 29,544,464 18,086,149 135,630,660

Cash received as collateral 13 (95) – Unrealised loss on financial derivative instruments 11 (171,145) (197,316) (1,213,750)

Other liabilities 10 (121,547) (314,647) (4,357,787)

Total liabilities (292, 787) (51 1,963) (5,571,537)

Total net assets 29,251,677 17,574,186 130,059,123

Page 21

Statement of Net Assets continued As at 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Financial Statements

Note

3.83 Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund US$

3.9 4.03 Ashmore SICAV Emerging Markets Short Duration Fund US$

4.0

Investments at market value 2 77,467,168 246,977,368 Acquisition cost 77,494,186 323,877,868

Cash at bank 6,609,217 5,930,418

Cash pledged as collateral 13 525,926 Unrealised gain on financial derivative instruments 11 287,267 2,968

Other assets 10 2,192,932 1,643,875

To Total assets 87,082,510 254,554,629

Unrealised loss on financial derivative instruments 11 (961,274) (965,628)

Other liabilities 10 (155,347) (5,083,803)

To Total liabilities (1,116,621) (6,049,431)

To Total net assets 85,965,889 248,505,198

Page 22

Ashmore SICAV – Unaudited Semi-Annual Report

2: Combined Financial Statements

Statement of Net Assets continued As at 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Note

4.38 Ashmore SICAV Emerging Markets Equity Fund US$

Investments at market value 2 784,144,568 Acquisition cost 601,489,418

Cash at bank 16,272,987

Cash pledged as collateral 13 40,000

Unrealised gain on financial derivative instruments 11 133,283

Other assets 10 3,038,566

Total assets 803,629,404

Unrealised loss on financial derivative instruments 11 (1,844,697)

Other liabilities 10 (7,167,648)

Total liabilities (9,012,345)

To Total net assets 794,617,059

Page 23

Statement of Net Assets continued As at 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Financial Statements

Note

4.4 4.48 Ashmore SICAV Emerging Markets Equity ESG Fund US$

4.49

Investments at market value 2 119,716,319 Acquisition cost 84,746,998

Cash at bank 144,948

Unrealised gain on financial derivative instruments 11 60

Other assets 10 3,886,609

To Total assets 123,747,936

Bank overdraft (1,658,728)

Unrealised loss on financial derivative instruments 11 (1,435)

Other liabilities 10 (268,106)

To Total liabilities (1,928,269)

To Total net assets 121,819,667

Page 25

Statement of Operations and Changes in Net Assets For the period ended 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Financial Statements

Note 1.01 Combined * US$

3.03 Ashmore SICAV Emerging Markets Debt Fund US$

3.08 Ashmore SICAV Emerging Markets Sovereign Debt Fund US$

3.13 Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund US$

3.33 Ashmore SICAV Emerging Markets Local Currency Bond Fund US$

Net assets at the beginning of the period 3,331,548,250 385,590,350 114,919,851 151,757,423 899,039,163

Income Net interest on investments 62,898,192 10,246,920 3,340,353 3,820,803 26,021,608 Net bank interest 1,078,338 44,931 13,720 19,244 262,724 Net dividends 10,329,723 – – – Other income 253,738 96 76 29 133 To Total income 74,559,991 10,291,947 3,354,149 3,840,076 26,284,465

Expenses Management fees 3 (13,731,638) (1,788,655) (87,359) (321,554) (4,382,242) Fund accounting fees 5 (34 5,644) (37,762) (1 1,715) (13,866) (90,974) Management Company fees 6 (262,869) (27,804) (8,876) (1 1,364) (69,623) Depositary fees 4 (862,652) (57,586) (17,656) (21,404) (312,204) Subscription tax 8 (268,478) (21,784) (6,477) (7,591) (73,567) T ransaction costs 9 (1,849,645) (15,128) (4,878) (5,424) (51,745) Other operating expenses 7 (4,046,378) (305,141) (79,065) (39,332) (880,146) To Total expenses (21,367,304) (2,253,860) (216,026) (420,535) (5,860,501)

Net investment income 53,192,687 8,038,087 3,138,123 3,419,541 20,423,964

Net realised gain/(loss) on: Investments 55,839,357 (1,781,533) 320,884 (2,109,539) 19,803,091 Financial derivative instruments (13,206,334) (190,312) 82 (729,754) (8,900,995) Foreign currency (1,876,376) (130,657) (109) 71,187 (196,893) Net realised gains/(losses) for the period 40,756,647 (2,102,502) 320,857 (2,768,106) 10,705,203

Net change in unrealised gain/(loss) on: Investments 175,286,386 10,270,154 2,124,642 71,346 (23,141,333) Financial derivative instruments (1 1,816,525) (65,788) (407) (121,258) (3,681,617) Foreign currency 1,092,683 (83) (194) (130) 732,975 Net unrealised gains/(losses) for the period 164,562,544 10,204,283 2,124,041 (50,042) (26,089,975)

Result of operations 258,51 1,878 16,139,868 5,583,021 601,393 5,039,192

Movements in share capital: Subscriptions 529,472,577 7,504,329 7,285,054 18,975,438 153,198,367 Redemptions (522,547,164) (52,413,242) (3,797,365) (1,192,136) (170,173,272) Equalisation (2,913,951) (548,301) 33,416 284,723 (949,860) Distributions 15 (20,842,674) (342,694) (394,936) (4,558,073) (2,422,087) (Decrease)/increase in share capital (16,831,212) (45,799,908) 3,126,169 13,509,952 (20,346,852)

Net assets at the end of the period 3,573,228,916 355,930,310 123,629,041 165,868,768 883,731,503

* Includes the net assets of Sub-Funds not registered in Switzerland .

Page 26

Ashmore SICAV – Unaudited Semi-Annual Report

2: Combined Financial Statements

Statement of Operations and Changes in Net Assets continued For the period ended 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Note

3.38 Ashmore SICAV Emerging Markets Local Currency Bond Fund 2* US$

3.43 Ashmore SICAV Emerging Markets Investment Grade Local Currency Fund US$

3.6

Net assets at the beginning of the period 13,245,237 29,964,704

Income Net interest on investments 669,220 702,082 Net bank interest 12,619 6,402 Net dividends – Other income 7 16 Total income 681,846 708,500

Expenses Management fees 3 (3) (64,789) Fund accounting fees 5 (1,313) (3,044) Management Company fees 6 (974) (2,160) Depositary fees 4 (4,092) (6,999) Subscription tax 8 (332) (1,414) Transaction costs 9 (15,176) (20,691) Other operating expenses 7 (44,125) (19,542) Total expenses (66,015) (118,639)

Net investment income 615,831 589,861

Net realised gain/(loss) on: Investments 99,664 265,917 Financial derivative instruments (47,723) (24,555) Foreign currency (11,560) (52,496) Net realised gains/(losses) for the period 40,381 188,866

Net change in unrealised gain/(loss) on: Investments (435,509) (973,914) Financial derivative instruments (11,613) (8,549) Foreign currency (2,364) 43,670 Net unrealised (losses)/gains for the period (449,486) (938,793)

Result of operations 206,726 (160,066)

Movements in share capital: Subscriptions – 685,401 Redemptions (12,833,484) Equalisation (618,479) 7,743 Distributions 15 – (1,246,105) (Decrease)/increase in share capital (13,451,963) (552,961)

Net assets at the end of the period – 29,251,677

* Te Terminated operations on 26 June 2026.

Page 27

Statement of Operations and Changes in Net Assets continued For the period ended 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Financial Statements

Note

3.6

3.73 Ashmore SICAV Emerging Markets Multi Asset Fund US$

3.78 Ashmore SICAV Emerging Markets Corporate Debt Fund US$

3.83 Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund US$

Net assets at the beginning of the period 16,463,140 138,170,891 107,1 16,569

Income Net interest on investments 218,396 1,675,261 2,466,224 Net bank interest 4,446 34,136 31,125 Net dividends 64,585 495 Other income 9 574 387 To Total income 287,436 1,710,466 2,497,736

Expenses Management fees 3 (129,795) (787,494) (494,539) Fund accounting fees 5 (1,740) (12,998) (9,790) Management Company fees 6 (1,298) (10,011) (6,975) Depositary fees 4 (3,934) (20,576) (15,186) Subscription tax 8 (868) (10,907) (4,467) T ransaction costs 9 (48,328) (24,063) (7,114) Other operating expenses 7 (6,978) (193,651) (107,962) To Total expenses (192,941) (1,059,700) (646,033)

Net investment income 94,495 650,766 1,851,703

Net realised gain/(loss) on: Investments 1,300,277 (13,911,105) 698,690 Financial derivative instruments (440,208) (2,466,315) (2,017,783) Foreign currency (3,281) 157,729 146,085 Net realised gains/(losses) for the period 856,788 (16,219,691) (1,173,008)

Net change in unrealised gain/(loss) on: Investments 416,837 15,018,981 (1,977,978) Financial derivative instruments (257,000) (1,936,770) (1,263,658) Foreign currency (74) (326) (458) Net unrealised (losses)/gains for the period 159,763 13,081,885 (3,242,094)

Result of operations 1,111,046 (2,487,040) (2,563,399)

Movements in share capital: Subscriptions 12 1,653,910 2,278,130 Redemptions – (4,354,563) (17,809,861) Equalisation – (36,224) (134,228) Distributions 15 (12) (2,887,851) (2,921,322) Increase/(decrease) in share capital – (5,624,728) (18,587,281)

Net assets at the end of the period 17,574,186 130,059,123 85,965,889

Page 28

Ashmore SICAV – Unaudited Semi-Annual Report

2: Combined Financial Statements

Statement of Operations and Changes in Net Assets continued For the period ended 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Note

4.03 Ashmore SICAV Emerging Markets Short Duration Fund US$

4.0

Net assets at the beginning of the period 270,316,898

Income Net interest on investments 4,748,949 Net bank interest 46,410 Net dividends Other income 32 To Total income 4,795,391

Expenses Management fees 3 (1,004,137) Fund accounting fees 5 (25,508) Management Company fees 6 (19,325) Depositary fees 4 (37,512) Subscription tax 8 (50,680) T ransaction costs 9 (16,192) Other operating expenses 7 (736,365) To Total expenses (1,889,719)

Net investment income/(loss) 2,905,672

Net realised gain/(loss) on: Investments (44,688,461) Financial derivative instruments 42,106 Foreign currency (474,041) Net realised (losses)/gains for the period (45,120,396)

Net change in unrealised gain/(loss) on: Investments 49,367,739 Financial derivative instruments (1,544,914) Foreign currency (128) Net unrealised gains/(losses) for the period 47,822,697

Result of operations 5,607,973

Movements in share capital: Subscriptions 15,509,519 Redemptions (40,767,263) Equalisation (110,500) Distributions 15 (2,051,429) (Decrease)/increase in share capital (27,419,673)

Net assets at the end of the period 248,505,198

Page 29

Statement of Operations and Changes in Net Assets continued For the period ended 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Financial Statements

Note

4.2 4.38 Ashmore SICAV Emerging Markets Equity Fund US$

4.4 4.48 Ashmore SICAV Emerging Markets Equity ESG Fund US$

Net assets at the beginning of the period 481,099,390 107,859,974

Income Net interest on investments – Net bank interest 247,104 64,717 Net dividends 5,391,755 961,557 Other income 866 To Total income 5,639,725 1,026,274

Expenses Management fees 3 (1,763,612) (547,806) Fund accounting fees 5 (61,244) (11,916) Management Company fees 6 (47,399) (8,859) Depositary fees 4 (139,053) (28,593) Subscription tax 8 (44,039) (5,897) Transaction costs 9 (758,255) (168,467) Other operating expenses 7 (619,749) (80,503) Total expenses (3,433,351) (852,041)

Net investment income 2,206,374 174,233

Net realised gain/(loss) on: Investments 68,693,418 18,633,012 Financial derivative instruments 1,796,843 29,034 Foreign currency (514,670) (64,918) Net realised gains/(losses) for the period 69,975,591 18,597,128

Net change in unrealised gain/(loss) on: Investments 86,076,222 11,034,007 Financial derivative instruments (1,723,440) (1,666) Foreign currency 3,303 1,420 Net unrealised gains/(losses) for the period 84,356,085 11,033,761

Result of operations 156,538,050 29,805,122

Movements in share capital: Subscriptions 257,997,019 18,987,060 Redemptions (97,974,020) (34,789,586) Equalisation 57,852 (42,903) Distributions 15 (3,101,232) (Decrease)/increase in share capital 156,979,619 (15,845,429)

Net assets at the end of the period 794,617,059 121,819,667

Page 31

Fund Statistics

3 Fund Statistics 30

Page 32

Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics As at 30 June 2026

Net Assets

Total net assets (US$) Net Asset Value per Share (Share class currency) 30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Debt Fund 355,930,310 385,590,350 344,699,970 344,705,492 Institutional Class Shares (EUR) Accumulation 115.82 111.85 99.46 95.12 Institutional Class Shares (NOK) Accumulation 122.10 116.93 102.12 96.76 Institutional Class Shares (US$) Accumulation 134.75 129.01 112.30 105.60 Institutional Class Shares (CHF) Income 46.97 46.88 44.76 46.21 Institutional Class Shares (EUR) Income 17.83 17.59 16.43 16.54 Institutional Class Shares (GBP) Income 62.30 60.96 55.86 55.32 Institutional Class Shares (NOK) Income 65.97 64.45 59.11 58.64 Institutional Class Shares (US$) Income 70.83 69.28 63.37 62.66 Retail Class Shares (EUR) Accumulation 105.66 102.33 91.49 88.01 Retail Class Shares (US$) Accumulation 131.36 126.13 110.45 104.47 Retail Class Shares (CHF) Income 54.41 54.30 51.87 53.50 Retail Class Shares (EUR) Income 75.84 74.81 69.89 70.29 Retail Class Shares (GBP) Income – – – 58.33 Retail Class Shares (US$) Income 60.74 59.41 54.34 53.74 Z Class Shares (CHF) Accumulation 100.71 98.40 89.44 87.75 Z Class Shares (EUR) Accumulation 112.13 108.31 96.34 92.17 Z Class Shares (US$) Accumulation 139.44 133.52 116.28 109.38 Z Class Shares (EUR) Income 60.91 60.09 56.13 56.47 Z Class Shares (GBP) Income 56.07 54.86 50.27 49.92 Z Class Shares (US$) Income 68.59 67.09 61.36 60.68 Z 2 Class Shares (BRL) Accumulation – – 98.66 113.42

Ashmore SICAV Emerging Markets Sovereign Debt Fund 123,629,041 114,919,851 97,757,161 204,167,589 Institutional Class Shares (CHF) Accumulation – – – 101.36 Institutional Class Shares (EUR) Accumulation – – – 97.71 Institutional Class Shares (GBP) Accumulation 143.86 137.57 119.06 112.17 Institutional Class Shares (US$) Accumulation 138.71 132.61 114.54 107.64 Institutional Class Shares (GBP) Income – – – 73.60 Institutional Class Shares (US$) Income 103.74 103.69 93.90 92.15 Institutional II Class Shares (JPY unhedged) Accumulation 26,698.51 24,594.19 21,246.99 17,830.80 Institutional II Class Shares (US$) Income 108.57 106.65 – Institutional III Class Shares (US$) Accumulation 182.13 173.64 149.01 138.86 Retail Class Shares (US$) Accumulation 127.75 122.49 106.41 100.60 Retail Class Shares (US$) Income 96.69 96.43 87.33 85.78 Z 2 Class Shares (US$) Accumulation – – – 95.36 Z 2 Class Shares (GBP) Income 91.04 91.09 82.62 81.33 Z 2 Class Shares (US$) Income – 92.49 83.74 82.16 Terminated 16 June 2026 Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund 165,868,768 151,757,423 298,782,834 423,448,410 Institutional Class Shares (EUR) Accumulation 107.02 107.05 99.87 102.07 Institutional Class Shares (EUR) Income 74.81 77.74 75.46 79.56 Institutional Class Shares (US$) Income 101.65 104.78 99.33 102.94 Institutional II Class Shares (JPY) Income 8,059.09 8,129.74 7,723.95 Institutional II Class Shares (JPY unhedged) Accumulation 14,304.01 13,667.03 12,495.56 11,213.16

Page 33

Fund Statistics continued As at 30 June 2026

Fund Statistics

Total net assets (US$) Net Asset Value per Share (Share class currency) 30 June 2026

31 December 2025

31 December 2024

31 December 2023 Ashmore SICAV Emerging Markets Local Currency Bond Fund 883,731,503 899,039,163 854,932,541 1,817,554,346 Institutional Class Shares (EUR) Accumulation 93.51 93.37 80.06 85.40 Institutional Class Shares (GBP) Accumulation 113.21 112.09 94.23 99.11 Institutional Class Shares (US$) Accumulation 103.69 102.52 85.89 89.92 Institutional Class Shares (CHF) Income 31.23 32.30 29.80 34.32 Institutional Class Shares (EUR) Income 47.79 48.83 44.06 49.49 Institutional Class Shares (EUR unhedged) Income 83.42 82.17 82.18 84.90 Institutional Class Shares (US$) Income 67.30 68.10 60.06 66.18 Institutional III Class Shares (EUR unhedged) Accumulation 123.46 118.28 111.32 108.22 Institutional III Class Shares (US$) Accumulation – – – 110.46 Retail Class Shares (CHF) Accumulation 90.85 92.07 81.23 89.44 Retail Class Shares (EUR) Accumulation 100.07 100.23 86.46 92.77 Retail Class Shares (SGD) Accumulation 99.53 100.08 86.47 92.94 Retail Class Shares (US$) Accumulation 125.38 124.34 104.78 110.35 Retail Class Shares (AUD) Income 66.62 67.52 59.92 66.98 Retail Class Shares (EUR) Income 45.37 46.37 41.83 46.97 Retail Class Shares (GBP) Income 52.25 52.94 46.85 51.92 Retail Class Shares (HKD unhedged) Income 74.71 75.02 66.02 73.14 Retail Class Shares (SGD) Income – – 61.68 69.40 Retail Class Shares (US$) Income 56.97 57.65 50.84 56.03 Z Class Shares (EUR) Accumulation 107.77 107.63 92.41 98.64 Z Class Shares (US$) Accumulation 103.93 102.78 86.14 90.22 Z Class Shares (GBP) Income 50.49 51.16 45.29 50.17 Z Class Shares (US$) Income 74.01 74.89 66.04 72.78 Z 2 Class Shares (EUR) Accumulation 112.82 112.54 96.33 102.61 Z 2 Class Shares (GBP) Accumulation 107.20 106.05 89.04 93.51 Z 2 Class Shares (GBP unhedged) Accumulation 118.77 115.79 104.01 106.80 Z 2 Class Shares (US$) Accumulation 118.62 117.19 98.02 102.45 Z 2 Class Shares (GBP) Income 69.10 70.01 61.96 68.66 Z 2 Class Shares (GBP unhedged) Income 79.40 79.28 75.08 81.29 Z 2 Class Shares (US$) Income 76.54 77.45 68.30 75.27

Ashmore SICAV Emerging Markets Local Currency Bond Fund 2 – 13,245,237 11,076,523 11,558,447 Institutional Class Shares (US$) Accumulation – 112.01 94.34 99.37 Terminated 26 June 2026 Institutional III Class Shares (US$) Accumulation – 132.45 110.77 115.58 Terminated 26 June 2026

Ashmore SICAV Emerging Markets Investment Grade Local Currency Fund 29,251,677 29,964,704 27,954,535 8,547,389 Institutional Class Shares (EUR) Accumulation – – – 87.57 Institutional Class Shares (EUR) Income – – – 46.97 Institutional Class Shares (EUR unhedged) Income 100.43 102.57 103.43 Institutional Class Shares (US$) Income 63.96 67.10 59.79 65.06

Net Assets continued

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Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Total net assets (US$) Net Asset Value per Share (Share class currency) 30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Multi-Asset Fund 17,574,186 16,463,140 11,951,489 12,614,473 Institutional Class Shares (EUR) Accumulation 101.79 92.83 76.94 76.13 Institutional Class Shares (US$) Income 125.24 114.60 94.18 93.63

Ashmore SICAV Emerging Markets Corporate Debt Fund 130,059,123 138,170,891 267,090,073 392,571,644 Institutional Class Shares (CHF) Accumulation – – – 84.62 Institutional Class Shares (EUR) Accumulation – – – 89.69 Institutional Class Shares (GBP) Accumulation – – – 80.40 Institutional Class Shares (US$) Accumulation 121.74 120.38 113.38 105.97 Institutional Class Shares (CHF) Income – – – 42.46 Institutional Class Shares (EUR) Income 50.43 51.48 51.93 51.48 Institutional Class Shares (US$) Income 60.98 61.73 60.97 59.49 Institutional III Class Shares (US$) Accumulation – – – 121.19 Retail Class Shares (CHF) Accumulation 80.40 81.33 80.51 78.95 Retail Class Shares (EUR) Accumulation 90.27 90.31 87.42 83.48 Retail Class Shares (US$) Accumulation 111.75 110.86 105.07 98.84

Net Assets continued

Page 35

Fund Statistics continued As at 30 June 2026

Fund Statistics

Total net assets (US$) Net Asset Value per Share (Share class currency) 30 June 2026

31 December 2025

31 December 2024

31 December 2023 Ashmore SICAV Emerging Markets Corporate Debt Fund continued Retail Class Shares (CHF) Income 39.18 40.46 41.74 42.44 Retail Class Shares (EUR) Income 41.81 42.68 43.05 42.73 Retail Class Shares (GBP) Income 50.96 51.59 51.01 49.91 Retail Class Shares (US$) Income 52.89 53.55 52.89 51.61 Z Class Shares (CHF) Accumulation 89.22 90.02 88.59 86.34 Z Class Shares (EUR) Accumulation 99.74 99.49 95.70 90.92 Z Class Shares (US$) Accumulation 123.37 122.03 114.97 107.49 Z Class Shares (CHF) Income 40.51 41.83 43.16 43.90 Z Class Shares (EUR) Income 45.26 46.21 46.62 46.19 Z Class Shares (GBP) Income 51.27 51.90 51.34 50.22 Z Class Shares (US$) Income 56.55 57.26 56.55 55.18 Z 2 Class Shares (CHF) Accumulation 78.51 79.13 77.70 75.67 Z 2 Class Shares (EUR) Accumulation 105.79 105.40 101.22 95.96 Z 2 Class Shares (US$) Accumulation 130.70 129.14 121.42 113.30 Z 2 Class Shares (CHF) Income 52.47 54.18 55.89 56.88 Z 2 Class Shares (EUR) Income 57.40 58.61 59.12 58.67 Z 2 Class Shares (GBP) Income 61.09 61.83 61.12 59.82 Z 2 Class Shares (US$) Income 66.61 67.43 66.60 64.98

Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund 85,965,889 107,116,569 90,217,013 106,494,962 Institutional Class Shares (EUR) Accumulation – 106.86 101.56 98.92 Terminated 15 April 2026 Institutional Class Shares (US$) Accumulation 145.43 144.85 134.80 129.22 Institutional Class Shares (EUR) Income 80.57 83.81 82.89 83.58 Institutional Class Shares (US$) Income – – – 116.27 Institutional II Class Shares (JPY) Accumulation – 10,266.32 9,886.45 9,934.96 Terminated 2 March 2026 Institutional II Class Shares (JPY) Income – – – 8,686.86 Institutional III Class Shares (US$) Accumulation – – 101.51 96.23

Net Assets continued

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Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Total net assets (US$) Net Asset Value per Share (Share class currency) 30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Short Duration Fund 248,505,198 270,316,898 282,920,508 313,033,504 Institutional Class Shares (EUR) Accumulation 99.65 97.53 93.10 86.83 Institutional Class Shares (GBP) Accumulation – – 114.07 104.84 Institutional Class Shares (US$) Accumulation 116.96 113.56 106.23 97.45 Institutional Class Shares (US$) Income 55.65 54.57 52.10 49.52 Institutional II Class Shares (JPY) Accumulation 6,607.11 6,505.82 6,323.88 6,124.32 Institutional II Class Shares (US$) Income 35.41 35.70 39.15 41.63 Retail Class Shares (AUD) Accumulation 95.40 92.74 87.71 81.59 Retail Class Shares (CAD) Accumulation 80.25 78.77 75.53 70.24 Retail Class Shares (CHF) Accumulation 71.80 71.29 70.10 67.52 Retail Class Shares (EUR) Accumulation 88.12 86.54 83.18 78.05 Retail Class Shares (GBP) Accumulation 92.57 90.13 84.91 78.57 Retail Class Shares (US$) Accumulation 108.86 106.06 99.90 92.28 Retail Class Shares (AUD) Income 57.14 55.84 53.59 51.35 Retail Class Shares (CAD) Income 54.28 53.59 52.15 49.91 Retail Class Shares (CHF) Income – 36.59 – – Terminated 9 June 2026 Retail Class Shares (EUR) Income 48.71 48.11 46.92 45.35 Retail Class Shares (GBP) Income 55.70 54.54 52.14 49.65 Retail Class Shares (HKD unhedged) Income 54.03 52.54 50.12 47.89 Retail Class Shares (JPY) Income – 4,450.91 4,431.54 4,455.15 Terminated 20 May 2026 Retail Class Shares (SGD) Income 53.66 53.23 52.07 50.39 Retail Class Shares (US$) Income 60.31 59.09 56.48 53.69 Retail Class Shares (US$) Income II 32.53 33.02 36.88 39.80 Z Class Shares (CHF) Accumulation 76.77 75.96 74.22 71.00 Z Class Shares (EUR) Accumulation 85.11 83.32 79.57 74.20 Z Class Shares (GBP) Accumulation 80.38 78.02 73.03 67.18 Z Class Shares (US$) Accumulation 104.39 101.38 94.88 87.07 Z Class Shares (CHF) Income – – – 42.27 Z Class Shares (EUR) Income 47.20 46.60 45.40 43.88 Z Class Shares (GBP) Income 51.40 50.30 48.04 45.75 Z Class Shares (US$) Income 58.12 56.92 54.34 51.65 Z 2 Class Shares (EUR) Accumulation – – 90.09 83.88 Z 2 Class Shares (US$) Accumulation 118.87 115.38 107.88 98.91 Z 2 Class Shares (EUR) Income 49.54 48.91 47.65 46.04 Z 2 Class Shares (GBP) Income 55.03 53.84 51.43 48.98 Z 2 Class Shares (US$) Income 55.78 54.62 52.15 49.56

Net Assets continued

Page 37

Fund Statistics continued As at 30 June 2026

Fund Statistics

Total net assets (US$) Net Asset Value per Share (Share class currency) 30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Equity Fund 794,617,059 481,099,390 288,423,266 138,479,713 Institutional Class Shares (GBP) Accumulation 105.59 – – – Launched 18 May 2026 Institutional Class Shares (NOK) Accumulation 162.71 127.38 96.56 –

Net Assets continued

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Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Total net assets (US$) Net Asset Value per Share (Share class currency) 30 June 2026

31 December 2025

31 December 2024

31 December 2023 Ashmore SICAV Emerging Markets Equity Fund continued Institutional Class Shares (US$) Accumulation 234.29 182.62 136.75 128.02 Institutional Class Shares (US$) Income – – 246.40 232.41 Institutional III Class Shares (US$) Accumulation – – – 234.61 Institutional III Class Shares (AUD unhedged) Income 150.59 122.98 99.54 85.12 Institutional IV Class Shares (JPY) Accumulation 11,143.56 – – – Launched 16 April 2026 Institutional IV Class Shares (JPY unhedged) Accumulation 11,262.64 – – – Launched 16 April 2026 Retail Class Shares (US$) Accumulation 196.39 153.30 115.13 108.11 Z Class Shares (GBP) Accumulation 179.87 140.78 106.38 100.22 Z 2 Class Shares (US$) Accumulation 228.79 178.20 133.23 124.53 Z 3 Class Shares (GBP unhedged) Accumulation 185.34 142.30 114.06 104.59 Z 3 Class Shares (US$) Accumulation 133.68 104.01 – –

Ashmore SICAV Emerging Markets Equity ESG Fund 121,819,667 107,859,974 74,261,569 15,192,336 Institutional Class Shares (GBP) Accumulation 122.14 – – – Launched 6 February 2026 Institutional Class Shares (US$) Accumulation 267.49 207.03 155.40 145.39 Institutional III Class Shares (US$) Accumulation 284.87 219.39 163.04 150.98 Z Class Shares (GBP) Accumulation 150.92 117.29 88.84 83.48 Z 2 Class Shares (US$) Accumulation – – – 125.30

Net Assets continued

Page 39

Page 40

Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Changes in Shares Outstanding Changes in Shares outstanding (in number of Shares) 31 December 2025 Subscriptions Redemptions

30 June 2026 Ashmore SICAV Emerging Markets Debt Fund Institutional Class Shares (EUR) Accumulation 6,940 – – 6,940 Institutional Class Shares (NOK) Accumulation 114 – (31) 83 Institutional Class Shares (US$) Accumulation 2,752,677 38,086 (314,193) 2,476,570 Institutional Class Shares (CHF) Income 19,990 3,600 (760) 22,830 Institutional Class Shares (EUR) Income 144,957 – – 144,957 Institutional Class Shares (GBP) Income 1,485 20 (119) 1,386 Institutional Class Shares (NOK) Income 357 7 – 364 Institutional Class Shares (US$) Income 17,101 – – 17,101 Retail Class Shares (EUR) Accumulation 411 – – 411 Retail Class Shares (US$) Accumulation 12,544 5,000 – 17,544 Retail Class Shares (CHF) Income 1,731 – – 1,731 Retail Class Shares (EUR) Income 125,454 17,925 (119,155) 24,224 Retail Class Shares (US$) Income 92,807 – – 92,807 Z Class Shares (CHF) Accumulation 3,695 – – 3,695 Z Class Shares (EUR) Accumulation 1,386 – – 1,386 Z Class Shares (US$) Accumulation 16,898 – (773) 16,125 Z Class Shares (EUR) Income 5,057 – – 5,057 Z Class Shares (GBP) Income 9,634 1,025 (5,796) 4,863 Z Class Shares (US$) Income 27,384 – – 27,384

Ashmore SICAV Emerging Markets Sovereign Debt Fund Institutional Class Shares (GBP) Accumulation 199 – (9) 190 Institutional Class Shares (US$) Accumulation 22,945 33,560 – 56,505 Institutional Class Shares (US$) Income 63,588 27,000 – 90,588 Institutional II Class Shares (JPY unhedged) Accumulation 140,358 – – 140,358 Institutional II Class Shares (US$) Income 10,245 290 – 10,535 Institutional III Class Shares (US$) Accumulation 457,325 – (15,354) 441,971 Retail Class Shares (US$) Accumulation 7,495 – – 7,495 Retail Class Shares (US$) Income 7,268 – – 7,268 Z 2 Class Shares (GBP) Income 4 1 – 5 Z 2 Class Shares (US$) Income 11,920 – (11,920) – Terminated 16 June 2026 Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund Institutional Class Shares (EUR) Accumulation 13,595 – – 13,595 Institutional Class Shares (EUR) Income 85,200 – (13,500) 71,700 Institutional Class Shares (US$) Income 1,058,572 190,369 – 1,248,941 Institutional II Class Shares (JPY) Income 183,292 406 – 183,698 Institutional II Class Shares (JPY unhedged) Accumulation 250,559 – (425) 250,134

Ashmore SICAV Emerging Markets Local Currency Bond Fund Institutional Class Shares (EUR) Accumulation 145,127 2,200 (23,685) 123,642 Institutional Class Shares (GBP) Accumulation 115,597 25,862 (6,186) 135,273 Institutional Class Shares (US$) Accumulation 6,417,216 740,295 (642,176) 6,515,335 Institutional Class Shares (CHF) Income 39,669 282,940 (54,475) 268,134 Institutional Class Shares (EUR) Income 99,343 49,825 (91) 149,077 Institutional Class Shares (EUR unhedged) Income 267,484 18,280 (63,000) 222,764 Institutional Class Shares (US$) Income 248,468 13,377 (1,634) 260,211 Institutional III Class Shares (EUR unhedged) Accumulation 60,717 34,053 (9,995) 84,775 Retail Class Shares (CHF) Accumulation 2,873 1,980 (150) 4,703 Retail Class Shares (EUR) Accumulation 16,166 30,891 (4,477) 42,580

Page 41

Fund Statistics continued As at 30 June 2026

Fund Statistics

Changes in Shares outstanding (in number of Shares) 31 December 2025 Subscriptions Redemptions

30 June 2026 Ashmore SICAV Emerging Markets Local Currency Bond Fund continued Retail Class Shares (SGD) Accumulation 1,263 3,882 (807) 4,338 Retail Class Shares (US$) Accumulation 57,003 124,351 (12,700) 168,654 Retail Class Shares (AUD) Income 129,412 – (15,131) 114,281 Retail Class Shares (EUR) Income 33,213 4,994 – 38,207 Retail Class Shares (GBP) Income 7,840 2 (1,046) 6,796 Retail Class Shares (HKD unhedged) Income 148,768 13,320 (138,800) 23,288 Retail Class Shares (US$) Income 130,456 109,156 (26,505) 213,107 Z Class Shares (EUR) Accumulation 101,926 6,831 (1,555) 107,202 Z Class Shares (US$) Accumulation 15,993 38,602 (9,226) 45,369 Z Class Shares (GBP) Income 16,520 34,441 (7,351) 43,610 Z Class Shares (US$) Income 14,050 15,735 (1,546) 28,239 Z 2 Class Shares (EUR) Accumulation 179,760 10,531 (1 14,933) 75,358 Z 2 Class Shares (GBP) Accumulation 1,765 4,746 (4,052) 2,459 Z 2 Class Shares (GBP unhedged) Accumulation 408 13 – 421 Z 2 Class Shares (US$) Accumulation 446,369 82,659 (389,483) 139,545 Z 2 Class Shares (GBP) Income 2,720 1,440 (1,440) 2,720 Z 2 Class Shares (GBP unhedged) Income 5,343 7 (25) 5,325 Z 2 Class Shares (US$) Income 371,984 61,995 (329,735) 104,244

Ashmore SICAV Emerging Markets Local Currency Bond Fund 2 Institutional Class Shares (US$) Accumulation 12 – (12) – Terminated 26 June 2026 Institutional III Class Shares (US$) Accumulation 99,990 – (99,990) – Terminated 26 June 2026 Ashmore SICAV Emerging Markets Investment Grade Local Currency Fund Institutional Class Shares (EUR unhedged) Income 192,022 6,000 – 198,022 Institutional Class Shares (US$) Income 101,850 – – 101,850

Changes in Shares Outstanding continued

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3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Changes in Shares outstanding (in number of Shares) 31 December 2025 Subscriptions Redemptions

30 June 2026 Ashmore SICAV Emerging Markets Multi-Asset Fund Institutional Class Shares (EUR) Accumulation 151,000 – – 151,000 Institutional Class Shares (US$) Income 8 – – 8

Ashmore SICAV Emerging Markets Corporate Debt Fund Institutional Class Shares (US$) Accumulation 20,880 – – 20,880 Institutional Class Shares (EUR) Income 1,815,673 – – 1,815,673 Institutional Class Shares (US$) Income 25,314 26,320 (315) 51,319 Retail Class Shares (CHF) Accumulation 1,205 – (955) 250 Retail Class Shares (EUR) Accumulation 4,505 17 (1,041) 3,481 Retail Class Shares (US$) Accumulation 26,986 44 (8,453) 18,577 Retail Class Shares (CHF) Income 920 – – 920 Retail Class Shares (EUR) Income 12,022 – (183) 11,839 Retail Class Shares (GBP) Income 2,382 7 – 2,389 Retail Class Shares (US$) Income 113,957 1 (6,189) 107,769 Z Class Shares (CHF) Accumulation 724 – (150) 574 Z Class Shares (EUR) Accumulation 2,579 – (340) 2,239 Z Class Shares (US$) Accumulation 8,102 – (50) 8,052 Z Class Shares (CHF) Income 1,500 – – 1,500 Z Class Shares (EUR) Income 4,917 – (1,495) 3,422 Z Class Shares (GBP) Income 9,723 660 (2,483) 7,900 Z Class Shares (US$) Income 6,466 – (1,675) 4,791 Z 2 Class Shares (CHF) Accumulation 31,607 – (6,307) 25,300 Z 2 Class Shares (EUR) Accumulation 3,831 – (1,800) 2,031 Z 2 Class Shares (US$) Accumulation 9,935 – (4,038) 5,897 Z 2 Class Shares (CHF) Income 5,316 – (1,388) 3,928 Z 2 Class Shares (EUR) Income 9,163 – – 9,163 Z 2 Class Shares (GBP) Income 4,673 – (2,478) 2,195 Z 2 Class Shares (US$) Income 70,297 – (11,845) 58,452

Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund Institutional Class Shares (EUR) Accumulation 28,449 – (28,449) – Terminated 15 April 2026 Institutional Class Shares (US$) Accumulation 28,143 – – 28,143 Institutional Class Shares (EUR) Income 864,115 24,728 – 888,843 Institutional II Class Shares (JPY) Accumulation 220,000 – (220,000) – Terminated 2 March 2026

Ashmore SICAV Emerging Markets Short Duration Fund Institutional Class Shares (EUR) Accumulation 111,533 – (9,266) 102,267 Institutional Class Shares (US$) Accumulation 391,373 – (232,379) 158,994 Institutional Class Shares (US$) Income 2 – (1) 1 Institutional II Class Shares (JPY) Accumulation 97,992 – (163) 97,829 Institutional II Class Shares (US$) Income 568,886 7,531 (10,519) 565,898 Retail Class Shares (AUD) Accumulation 19,508 – (10,933) 8,575 Retail Class Shares (CAD) Accumulation 1,936 – – 1,936

Changes in Shares Outstanding continued

Page 43

Fund Statistics continued As at 30 June 2026

Fund Statistics

Changes in Shares outstanding (in number of Shares) 31 December 2025 Subscriptions Redemptions

30 June 2026 Ashmore SICAV Emerging Markets Short Duration Fund continued Retail Class Shares (CHF) Accumulation 2,220 – (2,000) 220 Retail Class Shares (EUR) Accumulation 16,172 2 (1,948) 14,226 Retail Class Shares (GBP) Accumulation 2,746 – – 2,746 Retail Class Shares (US$) Accumulation 88,905 47 (13,615) 75,337 Retail Class Shares (AUD) Income 153,616 – (10,632) 142,984 Retail Class Shares (CAD) Income 14,328 74 – 14,402 Retail Class Shares (CHF) Income 650 – (650) – Terminated 9 June 2026 Retail Class Shares (EUR) Income 73,198 104 (11,330) 61,972 Retail Class Shares (GBP) Income 18,310 – (269) 18,041 Retail Class Shares (HKD unhedged) Income 92,228 – – 92,228 Retail Class Shares (JPY) Income 3,940 – (3,940) – Terminated 20 May 2026 Retail Class Shares (SGD) Income 104,173 – (19,218) 84,955 Retail Class Shares (US$) Income 477,212 – (56,424) 420,788 Retail Class Shares (US$) Income II 12,672 – – 12,672 Z Class Shares (CHF) Accumulation 3,230 – (580) 2,650 Z Class Shares (EUR) Accumulation 2,851 – – 2,851 Z Class Shares (GBP) Accumulation 19,187 95,176 (987) 113,376 Z Class Shares (US$) Accumulation 28,638 47,234 (640) 75,232 Z Class Shares (EUR) Income 40,992 – – 40,992 Z Class Shares (GBP) Income 1,216,434 2,899 (2,770) 1,216,563 Z Class Shares (US$) Income 572,482 – – 572,482 Z 2 Class Shares (US$) Accumulation 11,245 – (10,669) 576 Z 2 Class Shares (EUR) Income 6,317 – – 6,317 Z 2 Class Shares (GBP) Income 410 – – 410 Z 2 Class Shares (US$) Income 110,261 – (52,657) 57,604

Changes in Shares Outstanding continued

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Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Changes in Shares outstanding (in number of Shares) 31 December 2025 Subscriptions Redemptions

30 June 2026

Ashmore SICAV Emerging Markets Equity Fund Institutional Class Shares (GBP) Accumulation – 287,578 – 287,578 Launched 18 May 2026 Institutional Class Shares (NOK) Accumulation 2,220,879 3,478 – 2,224,357 Institutional Class Shares (US$) Accumulation 1,113,812 558,353 (302,277) 1,369,888 Institutional III Class Shares (AUD unhedged) Income 2,765,015 317,022 (241,641) 2,840,396 Institutional IV Class Shares (JPY) Accumulation – 71,430 – 71,430 Launched 16 April 2026 Institutional IV Class Shares (JPY unhedged) Accumulation – 222,868 – 222,868 Launched 16 April 2026 Retail Class Shares (US$) Accumulation 9,404 13,430 (4,613) 18,221 Z Class Shares (GBP) Accumulation 32,024 10,417 (28,559) 13,882 Z 2 Class Shares (US$) Accumulation 17,207 13,482 (812) 29,877 Z 3 Class Shares (GBP unhedged) Accumulation 47,656 204,373 (1,230) 250,799 Z 3 Class Shares (US$) Accumulation 30,794 23,923 (19,667) 35,050

Ashmore SICAV Emerging Markets Equity ESG Fund Institutional Class Shares (GBP) Accumulation – 98,283 (5,230) 93,053 Launched 6 February 2026 Institutional Class Shares (US$) Accumulation 451,268 20,954 (77,714) 394,508 Institutional III Class Shares (US$) Accumulation 65,422 – (61,598) 3,824 Z Class Shares (GBP) Accumulation 511 81 (3) 589

Changes in Shares Outstanding continued

Page 45

Fund Statistics continued As at 30 June 2026

Fund Statistics

Changes in Shares outstanding (in number of Shares) 31 December 2025 Subscriptions Redemptions

30 June 2026

Changes in Shares Outstanding continued

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Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

TER and fund performance Fund performance (%) Gross of dividend distribution during the period TERs* %

30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Debt Fund** Do not span across cell Institutional Class Shares (EUR) Accumulation 1.17 3.55 12.46 4.56 12.50 Institutional Class Shares (NOK) Accumulation 1.16 4.42 14.50 5.54 12.92 Institutional Class Shares (US$) Accumulation 1.17 4.45 14.88 6.34 15.10 Institutional Class Shares (CHF) Income 1.17 2.36 9.96 1.87 10.36 Institutional Class Shares (EUR) Income 1.17 3.56 12.49 4.47 12.55 Institutional Class Shares (GBP) Income 1.17 4.41 14.66 6.19 14.18 Institutional Class Shares (NOK) Income 1.18 4.57 14.54 6.03 13.15 Institutional Class Shares (US$) Income 1.17 4.45 14.87 6.36 15.08 Institutional II Class Shares (JPY) Accumulation – – – – (6.12) Retail Class Shares (EUR) Accumulation 1.76 3.25 11.85 3.95 11.87 Retail Class Shares (US$) Accumulation 1.76 4.15 14.20 5.72 14.41 Retail Class Shares (CHF) Income 1.76 2.07 9.35 1.36 9.62 Retail Class Shares (EUR) Income 1.77 3.27 11.81 3.96 11.82 Retail Class Shares (GBP) Income – – – (4.98) 13.50 Retail Class Shares (US$) Income 1.76 4.15 14.20 5.72 14.41 Z Class Shares (CHF) Accumulation 1.21 2.36 10.01 1.93 10.41 Z Class Shares (EUR) Accumulation 1.20 3.53 12.42 4.52 12.42 Z Class Shares (US$) Accumulation 1.21 4.43 14.83 6.31 15.05 Z Class Shares (EUR) Income 1.21 3.54 12.44 4.50 12.50 Z Class Shares (GBP) Income 1.21 4.40 14.61 5.86 14.19 Z Class Shares (US$) Income 1.21 4.43 14.83 6.30 15.05 Z 2 Class Shares (BRL) Accumulation 1.00 – 37.41 (13.01) 33.06 Benchmark: JP Morgan EMBI GD 3.32 14.30 6.54 11.09

Do not span across cell Institutional Class Shares (CHF) Accumulation – – – 3.20 15.95 Institutional Class Shares (EUR) Accumulation – – – 1.60 18.08 Institutional Class Shares (GBP) Accumulation 0.75 4.57 15.55 6.14 19.80 Institutional Class Shares (US$) Accumulation 0.75 4.60 15.78 6.41 20.75 Institutional Class Shares (GBP) Income – – – (5.07) 19.92 Institutional Class Shares (US$) Income 0.75 4.61 15.77 6.41 20.76 Institutional II Class Shares (JPY) Accumulation – – – – (0.31) Institutional II Class Shares (JPY unhedged) Accumulation 0.58 8.56 15.75 19.16 29.61 Institutional II Class Shares (US$) Income 0.60 4.69 9.26 – Institutional III Class Shares (US$) Accumulation 0.20 4.89 16.53 7.31 21.79 Retail Class Shares (US$) Accumulation 1.34 4.29 15.11 5.78 20.05 Retail Class Shares (US$) Income 1.34 4.30 15.11 5.78 20.05 Z 2 Class Shares (US$) Accumulation – – – 1.72 20.89 Z 2 Class Shares (GBP) Income 0.79 4.60 15.71 6.07 20.04 Z 2 Class Shares (US$) Income 0.63 5.02 15.91 6.53 20.92 Terminated 16 June 2026 Benchmark: JP Morgan EMBI GD 3.32 14.30 6.54 11.09

* The To Total Expense Ratio (TER) excludes transaction costs and capital gains tax and is calculated based on the annualised period from 1 July 2025 to 30 June 2026. ** TER excludes extraordinary legal expenses related to the Fund’s investment in Petróleos de Venezuela S.A. (PDVSA), which were borne by the Fund during the period. If these exceptional costs were included, the TER of all share classes of the Fund for the period ended 30 June 2026 would be 0.0 7 percentage points higher. *** TER excludes extraordinary legal expenses related to the Fund’s investment in Petróleos de Venezuela S.A. (PDVSA), which were borne by the Fund during the period. If these exceptional costs were included, the TER of all share classes of the Fund for the period ended 30 June 2026 would be 0.0 5 percentage points higher.

Ashmore SICAV Emerging Markets Sovereign Debt Fund***

Terminated 10 December 2025

Page 47

Fund Statistics continued As at 30 June 2026

Fund Statistics

Fund performance (%) Gross of dividend distribution during the period TERs* %

30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund Do not span across cell Institutional Class Shares (EUR) Accumulation 0.62 (0.03) 7.19 (2.16) 4.36 Institutional Class Shares (EUR) Income 0.63 (0.04) 7.17 (2.18) 4.43 Institutional Class Shares (US$) Income 0.63 0.88 9.50 (0.44) 6.69 Institutional II Class Shares (JPY) Income 0.54 (0.65) 5.25 (2.71) (1.35) Institutional II Class Shares (JPY unhedged) Accumulation 0.55 4.66 9.38 1 1.44 12.13 Benchmark: JP Morgan EMBI GD IG 1.18 10.38 (1.51) 7.08

Ashmore SICAV AV Emerging Markets Local Currency Bond Fund Do not span across cell Institutional Class Shares (EUR) Accumulation 1.19 0.15 16.63 (6.25) 10.66 Institutional Class Shares (GBP) Accumulation 1.19 1.00 18.95 (4.92) 13.29 Institutional Class Shares (US$) Accumulation 1.19 1.14 19.36 (4.48) 14.29 Institutional Class Shares (CHF) Income 1.19 (1.06) 14.09 (8.60) 9.44 Institutional Class Shares (EUR) Income 1.19 0.15 16.65 (6.28) 1 1.53 Institutional Class Shares (EUR unhedged) Income 1.19 3.89 5.25 1.88 10.41 Institutional Class Shares (US$) Income 1.19 1.14 19.35 (4.47) 14.28 Institutional III Class Shares (EUR unhedged) Accumulation 0.24 4.38 6.25 2.86 1 1.48 Institutional III Class Shares (US$) Accumulation – – – 0.07 15.37 Retail Class Shares (CHF) Accumulation 1.78 (1.33) 13.34 (9.18) 8.73 Retail Class Shares (EUR) Accumulation 1.79 (0.16) 15.93 (6.80) 10.82 Retail Class Shares (SGD) Accumulation 1.78 (0.55) 15.74 (6.96) 1 1.79 Retail Class Shares (US$) Accumulation 1.79 0.84 18.67 (5.05) 13.62 Retail Class Shares (AUD) Income 1.78 0.66 17.92 (6.39) 1 1.52 Retail Class Shares (EUR) Income 1.78 (0.17) 16.00 (6.80) 10.99 Retail Class Shares (GBP) Income 1.78 0.70 18.24 (5.58) 12.70 Retail Class Shares (HKD unhedged) Income 1.78 1.62 18.90 (5.54) 13.65 Retail Class Shares (SGD) Income – – 4.72 (6.99) 1 1.83 Retail Class Shares (US$) Income 1.78 0.83 18.67 (5.04) 13.61 Z Class Shares (EUR) Accumulation 1.23 0.13 16.47 (6.32) 1 1.46 Z Class Shares (US$) Accumulation 1.23 1.12 19.32 (4.52) 14.25 Z Class Shares (GBP) Income 1.24 0.97 18.84 (5.02) 13.17 Z Class Shares (US$) Income 1.23 1.1 1 19.32 (4.52) 14.24 Z 2 Class Shares (EUR) Accumulation 1.03 0.25 16.83 (6.12) 2.61 Z 2 Class Shares (GBP) Accumulation 1.03 1.08 19.10 (4.78) 13.47 Z 2 Class Shares (GBP unhedged) Accumulation 1.03 2.57 1 1.33 (2.61) 8.00 Z 2 Class Shares (US$) Accumulation 1.02 1.22 19.56 (4.32) 14.46 Z 2 Class Shares (GBP) Income 1.02 1.08 19.12 (4.86) 13.50 Z 2 Class Shares (GBP unhedged) Income 1.03 2.58 1 1.33 (2.63) 8.00 Z 2 Class Shares (US$) Income 1.02 1.22 19.56 (4.33) 14.45 Benchmark: JP Morgan GBI-EM GD (Net of Ta Tax)** 1.28 18.75 (2.73) 12.70

TER and fund performance continued

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Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Fund performance (%) Gross of dividend distribution during the period TERs* %

30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Local Currency Bond Fund 2 Do not span across cell Institutional Class Shares (US$) Accumulation 1.12 1.27 18.73 (5.06) 13.29 Terminated 26 June 2026 Institutional III Class Shares (US$) Accumulation 0.55 1.56 19.57 (4.16) 14.23 Terminated 26 June 2026 Benchmark: JP Morgan GBI-EM GD (Net of Tax)** – 18.75 (2.73) 12.70

Ashmore SICAV Emerging Markets Investment Grade Local Currency Fund Do not span across cell Institutional Class Shares (EUR) Accumulation – – – (5.64) 10.18 Institutional Class Shares (EUR) Income – – – (5.30) 10.14 Institutional Class Shares (EUR unhedged) Income 0.71 2.16 0.71 3.43 Institutional Class Shares (US$) Income 0.72 (0.55) 14.23 0.62 12.87 Institutional II Class Shares (JPY unhedged) Accumulation 0.66 – 10.32 – Institutional III Class Shares (US$) Accumulation – – – 5.95 Benchmark: JP Morgan GBI-EM GD IG (Net of Taxes)*** (0.49) 14.86 (1.82) 13.75

TER and fund performance continued

* The To Total Expense Ratio (TER) excludes transaction costs and capital gains tax and is calculated based on the annualised period from 1 July 2025 to 30 June 2026. ** The benchmark was changed to the JP Morgan GBI-EM G D (Net of Taxes) effective 11 November 2024. The prior benchmark was the JP Morgan GBI-EM GD from inception. *** The benchmark was changed to the JP Morgan GBI-EM GD IG (Net of Taxes) effective 11 November 2024. The prior benchmark was the JP Morgan GBI-EM GD IG from inception. **** The benchmark was changed to the 3 months SOFR (Secured Overnight Financing Rate) effective 31 March 2023. The prior benchmark was the 3 months USD Libor from inception.

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Fund Statistics continued As at 30 June 2026

Fund Statistics

Fund performance (%) Gross of dividend distribution during the period TERs* %

30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV AV Emerging Markets Multi Asset Fund **** Do not span across cell Institutional Class Shares (EUR) Accumulation 1.79 9.65 20.65 1.06 6.64 Institutional Class Shares (GBP) Income – – – – 1.21 Institutional Class Shares (US$) Income 1.80 10.83 23.61 2.66 9.92 Institutional III Class Shares (US$) Accumulation – – – – 7.42 Benchmark: Blended benchmark***** 13.66 23.67 7.16 10.60

Ashmore SICAV AV Emerging Markets Corporate Debt Fund****** Do not span across cell Institutional Class Shares (CHF) Accumulation – – – 2.94 0.46 Institutional Class Shares (EUR) Accumulation – – – 1.63 2.39 Institutional Class Shares (GBP) Accumulation – – – 7.61 4.10 Institutional Class Shares (US$) Accumulation 1.38 1.13 6.17 6.99 4.61 Institutional Class Shares (CHF) Income – – – (4.75) 0.42 Institutional Class Shares (EUR) Income 1.38 0.28 3.97 5.32 2.40 Institutional Class Shares (US$) Income 1.38 1.13 6.18 7.00 4.60 Institutional III Class Shares (US$) Accumulation – – – 6.91 5.82 Retail Class Shares (CHF) Accumulation 2.01 (1.14) 1.02 1.98 (0.19) Retail Class Shares (EUR) Accumulation 2.02 (0.04) 3.31 4.72 1.76 Retail Class Shares (US$) Accumulation 2.02 0.80 5.51 6.30 3.94 Retail Class Shares (CHF) Income 2.02 (1.19) 1.02 2.03 (0.20) Retail Class Shares (EUR) Income 2.02 (0.04) 3.32 4.53 1.75 Retail Class Shares (GBP) Income 2.02 0.79 5.40 6.02 3.24 Retail Class Shares (US$) Income 2.02 0.79 5.51 6.31 3.94 Z Class Shares (CHF) Accumulation 1.42 (0.89) 1.61 2.61 0.43 Z Class Shares (EUR) Accumulation 1.41 0.25 3.96 5.26 2.39 Z Class Shares (US$) Accumulation 1.42 1.10 6.14 6.96 4.56 Z Class Shares (CHF) Income 1.42 (0.89) 1.61 2.61 0.29 Z Class Shares (EUR) Income 1.42 0.25 3.91 5.34 2.36 Z Class Shares (GBP) Income 1.42 1.10 6.02 6.69 3.82

TER and fund performance continued

* The To Total Expense Ratio (TER) excludes transaction costs and capital gains tax and is calculated based on the annualised period from 1 July 2025 to 30 June 2026.

**** TER excludes extraordinary legal expenses related to the Fund’s investment in Petróleos de Venezuela S.A. (PDVSA), which were borne by the Fund during the period. If these exceptional costs were included, the TER of all share classes of the Fund for the period ended 30 June 2026 would be 0.06 percentage points higher. ***** Benchmark is comprised of 50% JP Morgan EMBI GD, 50% MSCI EM. ** ** ** TER excludes extraordinary legal expenses related to the Fund’s investment in Petróleos de Venezuela S.A. (PDVSA), which were borne by the Fund during the period. If these exceptional costs were included, the TER of all share classes of the Fund for the period ended 30 June 2026 would be 0. 11 percentage points higher.

Page 50

Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Fund performance (%) Gross of dividend distribution during the period TERs* %

30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Corporate Debt Fund** continued Z Class Shares (US$) Income 1.41 1.09 6.15 6.95 4.56 Z 2 Class Shares (CHF) Accumulation 1.22 (0.78) 1.84 2.68 0.56 Z 2 Class Shares (EUR) Accumulation 1.21 0.37 4.13 5.48 2.69 Z 2 Class Shares (US$) Accumulation 1.22 1.21 6.36 7.17 4.77 Z 2 Class Shares (CHF) Income 1.21 (0.79) 1.83 2.75 0.49 Z 2 Class Shares (EUR) Income 1.22 0.34 4.14 5.38 2.57 Z 2 Class Shares (GBP) Income 1.22 1.22 6.31 6.84 4.16 Z 2 Class Shares (US$) Income 1.22 1.21 6.35 7.18 4.77 Benchmark: JP Morgan CEMBI BD 2.21 8.73 7.63 9.08

Ashmore SICAV AV Emerging Markets Investment Grade Corporate Debt Fund Do not span across cell Institutional Class Shares (EUR) Accumulation 1.31 (0.42) 5.22 2.67 3.85 Terminated 15 April 2026 Institutional Class Shares (US$) Accumulation 1.31 0.40 7.46 4.32 6.03 Institutional Class Shares (EUR) Income 1.31 (0.45) 5.18 2.58 3.86 Institutional Class Shares (US$) Income – – – (0.16) 6.04 Institutional II Class Shares (JPY) Accumulation 0.61 0.47 3.84 (0.49) (0.65) Terminated 2 March 2026 Institutional II Class Shares (JPY) Income – – – (0.68) 0.84 Institutional III Class Shares (US$) Accumulation – – 2.28 5.49 7.20 Benchmark: JP Morgan CEMBI BD IG 1.01 8.46 3.17 7.57

TER and fund performance continued

Page 51

Fund Statistics continued As at 30 June 2026

Fund Statistics

Fund performance (%) Gross of dividend distribution during the period TERs* %

30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV AV Emerging Markets Short Duration Fund** Do not span across cell Institutional Class Shares (EUR) Accumulation 1.05 2.17 4.76 7.22 28.09 Institutional Class Shares (GBP) Accumulation – – 3.98 8.80 25.39 Institutional Class Shares (US$) Accumulation 1.05 2.99 6.90 9.01 30.91 Institutional Class Shares (US$) Income 0.82 3.02 7.27 9.00 30.90 Institutional II Class Shares (JPY) Accumulation 0.80 1.56 2.88 3.26 23.56 Institutional II Class Shares (US$) Income 1.05 3.01 6.89 9.01 30.88 Retail Class Shares (AUD) Accumulation 1.74 2.87 5.73 7.50 27.96 Retail Class Shares (CAD) Accumulation 1.74 1.88 4.29 7.53 29.38 Retail Class Shares (CHF) Accumulation 1.74 0.72 1.70 3.82 24.67 Retail Class Shares (EUR) Accumulation 1.74 1.83 4.04 6.57 27.24 Retail Class Shares (GBP) Accumulation 1.74 2.71 6.15 8.07 29.33 Retail Class Shares (US$) Accumulation 1.74 2.64 6.17 8.26 30.01 Retail Class Shares (AUD) Income 1.74 2.89 5.74 7.38 27.96 Retail Class Shares (CAD) Income 1.74 1.87 4.28 7.51 29.35 Retail Class Shares (CHF) Income 1.73 0.93 (3.40) – 7.41 Terminated 9 June 2026 Retail Class Shares (EUR) Income 1.74 1.83 4.05 6.46 27.40 Retail Class Shares (GBP) Income 1.74 2.70 6.14 8.05 29.34 Retail Class Shares (HKD unhedged) Income 1.74 3.42 6.37 7.68 30.08 Retail Class Shares (JPY) Income 1.73 0.67 1.93 2.37 22.52 Terminated 20 May 2026 Retail Class Shares (SGD) Income 1.74 1.38 3.74 6.33 28.23 Retail Class Shares (US$) Income 1.74 2.65 6.16 8.24 30.02 Retail Class Shares (US$) Income II 1.74 2.64 6.14 8.26 30.02 Z Class Shares (CHF) Accumulation 1.09 1.07 2.34 4.54 25.57 Z Class Shares (EUR) Accumulation 1.09 2.15 4.71 7.24 28.09 Z Class Shares (GBP) Accumulation 1.13 3.02 6.83 8.71 30.17 Z Class Shares (US$) Accumulation 1.11 2.97 6.85 8.97 30.85 Z Class Shares (CHF) Income – – – (1.62) 25.90 Z Class Shares (EUR) Income 1.09 2.14 4.72 7.15 28.10 Z Class Shares (GBP) Income 1.09 3.03 6.82 8.74 30.22 Z Class Shares (US$) Income 1.09 2.96 6.87 8.95 30.86 Z 2 Class Shares (EUR) Accumulation – – 3.04 7.40 28.22 Z 2 Class Shares (US$) Accumulation 0.98 3.02 6.95 9.07 31.01 Z 2 Class Shares (EUR) Income 0.99 2.18 4.82 7.30 28.19 Z 2 Class Shares (GBP) Income 0.99 3.10 6.94 8.85 30.09 Z 2 Class Shares (US$) Income 0.99 3.02 6.96 9.08 30.99 Benchmark: JP Morgan CEMBI BD (1-3 yr) 2.40 6.84 8.48 8.00

TER and fund performance continued

Page 53

Fund Statistics continued As at 30 June 2026

Fund Statistics

Fund performance (%) Gross of dividend distribution during the period TERs* %

30 June 2026

31 December 2025

31 December 2024

31 December 2023

Ashmore SICAV Emerging Markets Equity Fund Do not span across cell Institutional Class Shares (GBP) Accumulation 1.37 5.59 – – –

Terminated 18 July 2025

Institutional Class Shares (NOK) Accumulation 1.23 27.74 31.92 (3.44) Institutional Class Shares (US$) Accumulation 1.23 28.29 33.54 6.82 10.40 Institutional Class Shares (US$) Income 1.22 – 16.20 6.82 10.40 Institutional III Class Shares (US$) Accumulation – – – 10.55 11.51 Institutional III Class Shares (AUD unhedged) Income 0.23 24.11 25.23 18.90 10.82 Institutional IV Class Shares (JPY) Accumulation 0.94 11.44 – – – Launched 16 April 2026 Institutional IV Class Shares (JPY unhedged) Accumulation 0.94 12.63 – – – Launched 16 April 2026 Retail Class Shares (US$) Accumulation 1.52 28.11 33.15 6.49 8.11 Z Class Shares (GBP) Accumulation 1.27 27.77 32.34 6.15 9.32 Z 2 Class Shares (US$) Accumulation 1.08 28.39 33.75 6.99 10.56 Z 3 Class Shares (GBP unhedged) Accumulation 0.88 30.25 24.76 9.05 4.59 Z 3 Class Shares (US$) Accumulation 0.81 28.53 4.01 – Benchmark: MSCI EM Net TR 23.85 2.01 7.50 9.83

Ashmore SICAV Emerging Markets Equity ESG Fund Do not span across cell Institutional Class Shares (GBP) Accumulation 1.24 22.14 – – – Launched 6 February 2026 Institutional Class Shares (US$) Accumulation 1.23 29.20 33.22 6.88 11.21 Institutional III Class Shares (US$) Accumulation 0.23 29.85 34.56 7.99 12.36 Z Class Shares (GBP) Accumulation 1.28 28.67 32.02 6.42 10.45 Z 2 Class Shares (US$) Accumulation – – – (7.50) 11.42 Benchmark: MSCI EM (Net Return) Index 23.85 33.57 7.50 9.83

TER and fund performance continued

* The To Total Expense Ratio (TER) excludes transaction costs and capital gains tax and is calculated based on the annualised period from 1 July 2025 to 30 June 2026.

Launched 18 May 2026

Page 54

Past performance is no indication of current or future performance. Performance data does not take account of commission costs incurred or fees charged on the subscription or redemption of Shares. Performance data for non US$ Class Shares are in their respective currencies, and have been converted from the Sub-Funds' reference currency, US$ .

Page 55

Fund Statistics continued As at 30 June 2026

Fund Statistics

Annual distributions

Annual distribution rates (payment date: 15 January 2026) Ashmore SICAV Emerging Markets Sovereign Debt Fund 4.21 Institutional Class Shares (US$) Income US$ 4.52 4.48 Retail Class Shares (US$) Income US$ 3.72 4.54 Z 2 Class Shares (GBP) Income GBP 4.05 4.57 Z 2 Class Shares (US$) Income US$ 4.12

Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund 1.09 Institutional Class Shares (EUR) Income EUR 2.90 1.12 Institutional Class Shares (US$) Income US$ 4.01 1.15 Institutional II Class Shares (JPY) Income JPY 17.95

Ashmore SICAV Emerging Markets Investment Grade Local Currency Fund 11.14 Institutional Class Shares (EUR unhedged) Income EUR 4.27 11.19 Institutional Class Shares (US$) Income US$ 2.79

Ashmore SICAV AV Emerging Markets Multi-Asset Fund 24.18 Institutional Class Shares (US$) Income US$ 1.62

Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund 29.25 Institutional Class Shares (EUR) Income EUR 2.88

Ashmore SICAV AV Emerging Markets Equity Fund 8.08 Institutional III Class Shares (AUD unhedged) Income AUD 1.68

Page 56

Ashmore SICAV – Unaudited Semi-Annual Report

3: Fund Statistics

Fund Statistics continued As at 30 June 2026

Monthly distributions

Payment Date 15 January 2026

13 February 2026

13 March 2026

16 April 2026

18 May 2026

12 June 2026 Ashmore SICAV Emerging Markets Debt Fund Institutional Class Shares (CHF) Income CHF 0.17 CHF 0.16 CHF 0.16 CHF 0.19 CHF 0.17 CHF 0.16 Institutional Class Shares (EUR) Income EUR 0.06 EUR 0.06 EUR 0.06 EUR 0.07 EUR 0.06 EUR 0.06 Institutional Class Shares (GBP) Income GBP 0.21 GBP 0.21 GBP 0.21 GBP 0.25 GBP 0.22 GBP 0.21 Institutional Class Shares (NOK) Income NOK 0.23 NOK 0.22 NOK 0.22 NOK 0.27 NOK 0.23 NOK 0.22 Institutional Class Shares (US$) Income US$ 0.25 US$ 0.25 US$ 0.24 US$ 0.28 US$ 0.25 US$ 0.24 Retail Class Shares (CHF) Income CHF 0.16 CHF 0.16 CHF 0.16 CHF 0.19 CHF 0.17 CHF 0.16 Retail Class Shares (EUR) Income EUR 0.22 EUR 0.23 EUR 0.22 EUR 0.26 EUR 0.23 EUR 0.22 Retail Class Shares (US$) Income US$ 0.18 US$ 0.18 US$ 0.18 US$ 0.21 US$ 0.19 US$ 0.17 Z Class Shares (EUR) Income EUR 0.21 EUR 0.21 EUR 0.20 EUR 0.24 EUR 0.22 EUR 0.20 Z Class Shares (GBP) Income GBP 0.19 GBP 0.19 GBP 0.19 GBP 0.22 GBP 0.20 GBP 0.19 Z Class Shares (US$) Income US$ 0.24 US$ 0.24 US$ 0.23 US$ 0.27 US$ 0.24 US$ 0.23

Ashmore SICAV Emerging Markets Sovereign Debt Fund Institutional II Class Shares (US$) Income US$ 0.50 US$ 0.50 US$ 0.50 US$ 0.50 US$ 0.50 US$ 0.50

Ashmore SICAV Emerging Markets Local Currency Bond Fund Institutional Class Shares (CHF) Income CHF 0.19 CHF 0.12 CHF 0.10 CHF 0.11 CHF 0.11 CHF 0.10 Institutional Class Shares (EUR) Income EUR 0.29 EUR 0.19 EUR 0.15 EUR 0.16 EUR 0.17 EUR 0.16 Institutional Class Shares (EUR unhedged) Income EUR 0.48 EUR 0.32 EUR 0.25 EUR 0.28 EUR 0.29 EUR 0.27 Institutional Class Shares (US$) Income US$ 0.40 US$ 0.27 US$ 0.20 US$ 0.23 US$ 0.24 US$ 0.22 Retail Class Shares (AUD) Income AUD 0.36 AUD 0.23 AUD 0.17 AUD 0.19 AUD 0.20 AUD 0.19 Retail Class Shares (EUR) Income EUR 0.25 EUR 0.16 EUR 0.12 EUR 0.13 EUR 0.14 EUR 0.13 Retail Class Shares (GBP) Income GBP 0.28 GBP 0.18 GBP 0.14 GBP 0.15 GBP 0.16 GBP 0.15 Retail Class Shares (HKD unhedged) Income HKD 0.40 HKD 0.26 HKD 0.19 HKD 0.21 HKD 0.23 HKD 0.21 Retail Class Shares (US$) Income US$ 0.31 US$ 0.20 US$ 0.15 US$ 0.16 US$ 0.18 US$ 0.16 Z Class Shares (GBP) Income GBP 0.30 GBP 0.20 GBP 0.15 GBP 0.17 GBP 0.18 GBP 0.16 Z Class Shares (US$) Income US$ 0.44 US$ 0.30 US$ 0.22 US$ 0.25 US$ 0.26 US$ 0.24 Z 2 Class Shares (GBP) Income GBP 0.42 GBP 0.28 GBP 0.22 GBP 0.25 GBP 0.25 GBP 0.24 Z 2 Class Shares (GBP unhedged) Income GBP 0.48 GBP 0.32 GBP 0.25 GBP 0.28 GBP 0.29 GBP 0.27 Z 2 Class Shares (US$) Income US$ 0.47 US$ 0.32 US$ 0.24 US$ 0.27 US$ 0.29 US$ 0.26

Page 57

Fund Statistics continued As at 30 June 2026

Fund Statistics

Payment Date 15 January 2026

13 February 2026

13 March 2026

16 April 2026

18 May 2026

12 June 2026 Ashmore SICAV Emerging Markets Corporate Debt Fund Institutional Class Shares (EUR) Income EUR 0.18 EUR 0.25 EUR 0.18 EUR 0.20 EUR 0.21 EUR 0.18 Institutional Class Shares (US$) Income US$ 0.21 US$ 0.31 US$ 0.21 US$ 0.24 US$ 0.26 US$ 0.21 Retail Class Shares (CHF) Income CHF 0.11 CHF 0.17 CHF 0.12 CHF 0.14 CHF 0.14 CHF 0.12 Retail Class Shares (EUR) Income EUR 0.12 EUR 0.19 EUR 0.12 EUR 0.14 EUR 0.15 EUR 0.12 Retail Class Shares (GBP) Income GBP 0.15 GBP 0.22 GBP 0.15 GBP 0.18 GBP 0.19 GBP 0.15 Retail Class Shares (US$) Income US$ 0.15 US$ 0.24 US$ 0.16 US$ 0.18 US$ 0.19 US$ 0.16 Z Class Shares (CHF) Income CHF 0.14 CHF 0.20 CHF 0.14 CHF 0.17 CHF 0.17 CHF 0.14 Z Class Shares (EUR) Income EUR 0.16 EUR 0.23 EUR 0.16 EUR 0.18 EUR 0.19 EUR 0.16 Z Class Shares (GBP) Income GBP 0.17 GBP 0.25 GBP 0.18 GBP 0.20 GBP 0.21 GBP 0.18 Z Class Shares (US$) Income US$ 0.20 US$ 0.28 US$ 0.19 US$ 0.22 US$ 0.24 US$ 0.19 Z 2 Class Shares (CHF) Income CHF 0.19 CHF 0.27 CHF 0.19 CHF 0.22 CHF 0.23 CHF 0.19 Z 2 Class Shares (EUR) Income EUR 0.21 EUR 0.30 EUR 0.21 EUR 0.24 EUR 0.25 EUR 0.21 Z 2 Class Shares (GBP) Income GBP 0.22 GBP 0.31 GBP 0.22 GBP 0.25 GBP 0.26 GBP 0.22 Z 2 Class Shares (US$) Income US$ 0.24 US$ 0.35 US$ 0.24 US$ 0.27 US$ 0.29 US$ 0.24

Ashmore SICAV Emerging Markets Short Duration Fund Institutional Class Shares (US$) Income US$ 0.01 US$ 0.13 US$ 0.19 US$ 0.10 US$ 0.09 US$ 0.05 Institutional II Class Shares (US$) Income US$ 0.50 US$ 0.50 US$ 0.08 US$ 0.08 US$ 0.08 US$ 0.08 Retail Class Shares (AUD) Income – AUD 0.05 AUD 0.13 AUD 0.03 AUD 0.05 AUD 0.04 Retail Class Shares (CAD) Income – CAD 0.07 CAD 0.13 CAD 0.03 CAD 0.05 CAD 0.04 Retail Class Shares (CHF) Income – CHF 0.04 CHF 0.09 CHF 0.02 CHF 0.03 CHF 0.03 Retail Class Shares (EUR) Income – EUR 0.06 EUR 0.11 EUR 0.03 EUR 0.05 EUR 0.03 Retail Class Shares (GBP) Income – GBP 0.05 GBP 0.13 GBP 0.03 GBP 0.05 GBP 0.04 Retail Class Shares (HKD unhedged) Income – HKD 0.06 HKD 0.12 HKD 0.03 HKD 0.05 HKD 0.04 Retail Class Shares (JPY) Income – JPY 4.85 JPY 10.51 JPY 2.62 JPY 4.19 Retail Class Shares (SGD) Income – SGD 0.06 SGD 0.13 SGD 0.03 SGD 0.05 SGD 0.04 Retail Class Shares (US$) Income – US$ 0.07 US$ 0.14 US$ 0.03 US$ 0.06 US$ 0.04 Retail Class Shares (US$) Income II US$ 0.50 US$ 0.50 US$ 0.08 US$ 0.08 US$ 0.08 US$ 0.08 Z Class Shares (EUR) Income – EUR 0.08 EUR 0.13 EUR 0.05 EUR 0.07 EUR 0.06 Z Class Shares (GBP) Income – GBP 0.08 GBP 0.15 GBP 0.06 GBP 0.07 GBP 0.06 Z Class Shares (US$) Income – US$ 0.09 US$ 0.16 US$ 0.07 US$ 0.09 US$ 0.07 Z 2 Class Shares (EUR) Income – EUR 0.09 EUR 0.14 EUR 0.06 EUR 0.08 EUR 0.06 Z 2 Class Shares (GBP) Income – GBP 0.09 GBP 0.16 GBP 0.07 GBP 0.08 GBP 0.07 Z 2 Class Shares (US$) Income – US$ 0.09 US$ 0.16 US$ 0.07 US$ 0.09 US$ 0.07

Monthly distributions continued

Page 58

Schedules of Investments

4 Ashmore SICAV Emerging Markets Debt Fund 57 Ashmore SICAV AV Emerging Markets Sovereign Debt Fund 66 Ashmore SICAV AV Emerging Markets Sovereign Investment Grade Debt Fund 74 Ashmore SICAV AV Emerging Markets Local Currency Bond Fund 79 Ashmore SICAV AV Emerging Markets Investment Grade Local Currency Fund 84

Ashmore SICAV AV Emerging Markets Multi-Asset Fund 103 Ashmore SICAV AV Emerging Markets Corporate Debt Fund 108 Ashmore SICAV AV Emerging Markets Investment Grade Corporate Debt Fund 1 16

Ashmore SICAV AV Emerging Markets Short Duration Fund 122

Ashmore SICAV AV Emerging Markets Equity Fund 144

Ashmore SICAV AV Emerging Markets Equity ESG Fund 149

Other Information on Investments 159

Page 59

Ashmore SICAV Emerging Markets Debt Fund As at 30 June 2026

Schedules of Investments

The accompanying notes form an integral part of these combined financial statements.

Holdings Currency Description of investments

Market value US$

% of net assets

Transferable securities admitted to an official stock exchange listing/dealt in on another regulated market

Bonds

Angola 933,000 US$ Angolan Government International Bond 8% 26/11/2029 950,121 0.27 990,000 US$ Angolan Government International Bond 8.75% 14/04/2032 999,751 0.28 1,043,000 US$ Angolan Government International Bond 9.125% 26/11/2049 980,316 0.28 756,000 US$ Angolan Government International Bond 9.244% 15/01/2031 784,161 0.22 1,020,000 US$ Angolan Government International Bond 9.375% 31/03/2033 1,041,685 0.29 865,000 US$ Angolan Government International Bond 9.375% 08/05/2048 830,149 0.23 573,000 US$ Angolan Government International Bond 9.875% 15/10/2035 597,427 0.17 6,183,610 1.74 Argentina 6,680,755 US$ Argentine Republic Government International Bond 0.75% Step Cpn 09/07/2030 5,913,437 1.66 1,031,516 US$ Argentine Republic Government International Bond 1% 09/07/2029 939,71 1 0.27 1,846,973 US$ Argentine Republic Government International Bond 3.5% Step Cpn 09/07/2041 1,382,459 0.39

3,735,810 US$ Argentine Republic Government International Bond 4.125% Step Cpn 09/07/2035 2,992,384 0.84

2,096,420 US$ Argentine Republic Government International Bond 5% Step Cpn 09/01/2038 1,751,559 0.49 12,979,550 3.65 Armenia 870,000 US$ Republic of Armenia International Bond 6.75% 12/03/2035 910,907 0.26 910,907 0.26 Azerbaijan 595,000 US$ State Oil Co of the Azerbaijan Republic 6.95% 18/03/2030 634,794 0.18 634,794 0.18 Bahrain 923,000 US$ Bahrain Government International Bond 5.625% 30/09/2031 874,533 0.24 1,062,000 US$ Bahrain Government International Bond 6.625% 06/10/2037 997,61 1 0.28 796,000 US$ Bahrain Government International Bond 7.1% 03/02/2038 774,357 0.22 759,000 US$ Bahrain Government International Bond 7.5% 12/02/2036 770,385 0.22 1,586,000 US$ Bahrain Government International Bond 7.5% 20/09/2047 1,533,710 0.43 4,950,596 1.39 Benin 2,283,000 US$ Benin Government International Bond 7.96% 13/02/2038 2,421,864 0.68 1,268,000 US$ Benin Government International Bond 8.375% 23/01/2041 1,369,440 0.39 3,791,304 1.07 Brazil 2,255,000 US$ Brazilian Government International Bond 5.5% 04/02/2033 2,225,820 0.63 1,244,000 US$ Brazilian Government International Bond 6% 20/10/2033 1,252,957 0.35 909,000 US$ Brazilian Government International Bond 6.125% 15/03/2034 914,190 0.26 1,209,000 US$ Brazilian Government International Bond 6.625% 15/03/2035 1,243,336 0.35 5,114,000 US$ Brazilian Government International Bond 7.25% 12/01/2056 5,138,931 1.44 404,000 US$ Brazilian Government International Bond 8.25% 20/01/2034 457,348 0.13 1 1,232,582 3.16 Bulgaria 188,000 US$ Bulgaria Government International Bond 5% 05/03/2037 183,477 0.05 183,477 0.05 Chile 543,000 US$ Chile Government International Bond 2.55% 27/07/2033 466,437 0.13

Ashmore SICAV – Unaudited Semi-Annual Report

4: Schedules of Investments

Page 60

Ashmore SICAV – Unaudited Semi-Annual Report

4: Schedules of Investments

Ashmore SICAV Emerging Markets Debt Fund continued As at 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Holdings Currency Description of investments

Market value US$

% of net assets

Transferable securities admitted to an official stock exchange listing/dealt in on another regulated market continued

Bonds continued

Chile continued 649,000 US$ Chile Government International Bond 2.75% 31/01/2027 641,212 0.18 1,331,000 US$ Chile Government International Bond 3.1% 07/05/2041 1,018,881 0.29 2,542,000 US$ Chile Government International Bond 3.1% 22/01/2061 1,598,333 0.45 1,699,000 US$ Chile Government International Bond 3.5% 25/01/2050 1,236,447 0.35 1,204,026 US$ Chile Government International Bond 4.95% 05/01/2036 1,190,962 0.33 575,000 US$ Corp Nacional del Cobre de Chile 3.15% 15/01/2051 366,913 0.10 345,000 US$ Corp Nacional del Cobre de Chile 3.7% 30/01/2050 240,871 0.07 1,254,000 US$ Corp Nacional del Cobre de Chile 4.375% 05/02/2049 987,688 0.28 1,522,000 US$ Corp Nacional del Cobre de Chile 5.625% 18/10/2043 1,455,793 0.41 630,000 US$ Empresa de Transporte de Pasajeros Metro SA 4.7% 07/05/2050 535,884 0.15 733,000 US$ Empresa Nacional del Petroleo 4.5% 14/09/2047 608,134 0.17 403,000 US$ Empresa Nacional del Petroleo 5.95% 30/07/2034 41 1,292 0.11 10,758,847 3.02 China 244,000 US$ Sinopec Group Overseas Development 2012 Ltd 4.875% 17/05/2042 238,895 0.07 877,000 US$ Sinopec Group Overseas Development 2018 Ltd 2.7% 13/05/2030 825,029 0.23 868,000 US$ Sinopec Group Overseas Development 2018 Ltd 3.35% 13/05/2050 656,920 0.18 1,720,844 0.48 Colombia 1,057,000 US$ Colombia Government International Bond 3.875% 25/04/2027 1,050,262 0.29 368,000 US$ Colombia Government International Bond 5% 15/06/2045 294,124 0.08 1,643,000 US$ Colombia Government International Bond 5.625% 26/02/2044 1,415,855 0.40 698,000 US$ Colombia Government International Bond 7.375% 18/09/2037 739,880 0.21 1,247,000 US$ Colombia Government International Bond 7.75% 07/11/2036 1,360,477 0.38 1,570,000 US$ Colombia Government International Bond 8% 20/04/2033 1,720,092 0.48 1,227,000 US$ Colombia Government International Bond 8.375% 07/11/2054 1,408,068 0.40 7,988,758 2.24 Congo 671,000 US$ Congolese International Bond 9.5% 26/05/2036 648,186 0.18 648,186 0.18 Costa Rica 1,255,000 US$ Costa Rica Government International Bond 5.625% 30/04/2043 1,208,929 0.34 573,000 US$ Costa Rica Government International Bond 6.125% 19/02/2031 589,749 0.16 349,000 US$ Costa Rica Government International Bond 7% 04/04/2044 380,829 0.11 1,013,000 US$ Costa Rica Government International Bond 7.3% 13/11/2054 1,142,998 0.32 3,322,505 0.93 Democratic Republic of the Congo 300,000 US$ DRC International Bond 8.75% 16/04/2032 309,522 0.09 214,000 US$ DRC International Bond 9.5% 16/04/2037 222,828 0.06 532,350 0.15 Dominican Republic 3,447,000 US$ Dominican Republic International Bond 4.875% 23/09/2032 3,278,097 0.92 449,000 US$ Dominican Republic International Bond 5.3% 21/01/2041 403,974 0.11 794,000 US$ Dominican Republic International Bond 5.5% 22/02/2029 794,596 0.22 900,000 US$ Dominican Republic International Bond 5.875% 28/10/2035 889,200 0.25 1,094,000 US$ Dominican Republic International Bond 5.875% 30/01/2060 966,207 0.27 583,000 US$ Dominican Republic International Bond 6% 19/07/2028 591,045 0.17 1,636,000 US$ Dominican Republic International Bond 6.15% 17/05/2038 1,623,379 0.46 537,000 US$ Dominican Republic International Bond 6.4% 05/06/2049 526,898 0.15 408,000 US$ Dominican Republic International Bond 6.5% 15/02/2048 403,920 0.11

Page 61

Ashmore SICAV Emerging Markets Debt Fund continued As at 30 June 2026

Schedules of Investments

The accompanying notes form an integral part of these combined financial statements.

Holdings Currency Description of investments

Market value US$

% of net assets

Transferable securities admitted to an official stock exchange listing/dealt in on another regulated market continued

Bonds continued

Dominican Republic continued 462,000 US$ Dominican Republic International Bond 6.85% 27/01/2045 474,497 0.13 454,000 US$ Dominican Republic International Bond 7.05% 03/02/2031 478,788 0.14 10,430,601 2.93 Ecuador 1,444,360 US$ Ecuador Government International Bond 5% Step Cpn 31/07/2040 1,211,138 0.34 1,620,086 US$ Ecuador Government International Bond 6.9% Step Cpn 31/07/2035 1,485,732 0.42 571,000 US$ Ecuador Government International Bond 9.25% 29/01/2039 584,990 0.16 3,281,860 0.92 Egypt 983,000 US$ Egypt Government International Bond 5.875% 16/02/2031 958,278 0.27 1,795,000 US$ Egypt Government International Bond 7.625% 29/05/2032 1,834,580 0.51 1,519,000 US$ Egypt Government International Bond 7.903% 21/02/2048 1,390,857 0.39 606,000 US$ Egypt Government International Bond 8.15% 20/11/2059 558,344 0.16 1,223,000 US$ Egypt Government International Bond 8.5% 31/01/2047 1,197,109 0.34 1,354,000 US$ Egypt Government International Bond 8.625% 04/02/2030 1,447,548 0.41 445,000 US$ Egypt Government International Bond 8.7% 01/03/2049 440,125 0.12 560,000 US$ Egypt Government International Bond 8.75% 30/09/2051 553,308 0.15 8,380,149 2.35 El Salvador 571,000 US$ El Salvador Government International Bond 7.125% 20/01/2050 529,060 0.15 735,000 US$ El Salvador Government International Bond 7.65% 15/06/2035 759,000 0.21 1,288,060 0.36 Ghana 373,333 US$ Ghana Government International Bond 0% 03/01/2030 333,200 0.09 1,681,357 US$ Ghana Government International Bond 5% Step Cpn 03/07/2029 1,655,548 0.46 3,972,140 US$ Ghana Government International Bond 5% Step Cpn 03/07/2035 3,685,074 1.04 5,673,822 1.59 Guatemala 1,064,000 US$ Guatemala Government Bond 4.65% 07/10/2041 926,744 0.26 359,000 US$ Guatemala Government Bond 6.125% 01/06/2050 359,933 0.10 483,000 US$ Guatemala Government Bond 6.6% 13/06/2036 513,912 0.15 1,800,589 0.51 Hungary 2,850,000 US$ Hungary Government International Bond 2.125% 22/09/2031 2,472,389 0.69 3,372,000 US$ Hungary Government International Bond 3.125% 21/09/2051 2,168,634 0.61 476,000 US$ Hungary Government International Bond 5.375% 26/09/2030 483,024 0.13 687,000 US$ Hungary Government International Bond 6% 26/09/2035 715,538 0.20 1,160,000 US$ Hungary Government International Bond 6.75% 25/09/2052 1,266,662 0.36 1,215,000 US$ Magyar Export-Import Bank Zrt 6.125% 04/12/2027 1,234,136 0.35 200,000 US$ MFB Magyar Fejlesztesi Bank Zrt 6.5% 29/06/2028 206,034 0.06 8,546,417 2.40 India 876,000 US$ Export-Import Bank of India 2.25% 13/01/2031 781,821 0.22 944,000 US$ Export-Import Bank of India 5.5% 18/01/2033 961,134 0.27 455,000 US$ Export-Import Bank of India 5.75% 12/01/2056 454,888 0.13 2,197,843 0.62 Indonesia 1,382,000 US$ Danantara Investment Management PT 5.35% 18/06/2031 1,377,439 0.39 712,000 US$ Indonesia Government International Bond 4.15% 20/09/2027 713,865 0.20

Page 62

Ashmore SICAV – Unaudited Semi-Annual Report

4: Schedules of Investments

Ashmore SICAV Emerging Markets Debt Fund continued As at 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Holdings Currency Description of investments

Market value US$

% of net assets

Transferable securities admitted to an official stock exchange listing/dealt in on another regulated market continued

Bonds continued

Indonesia continued 1,081,000 US$ Indonesia Government International Bond 4.55% 11/01/2028 1,083,703 0.30 306,000 US$ Indonesia Government International Bond 4.75% 18/07/2047 269,464 0.08 815,000 US$ Indonesia Government International Bond 5.25% 17/01/2042 789,996 0.22 695,000 US$ Indonesia Government International Bond 5.25% 08/01/2047 654,760 0.18 1,031,000 US$ Indonesia Government International Bond 5.95% 08/01/2046 1,051,775 0.30 619,000 US$ Indonesia Government International Bond 6.625% 17/02/2037 673,905 0.19 852,000 US$ Indonesia Government International Bond 7.75% 17/01/2038 1,008,725 0.28 1,481,000 US$ Indonesia Government International Bond 8.5% 12/10/2035 1,809,782 0.51 898,000 US$ Pertamina Persero PT 6% 03/05/2042 873,305 0.25 200,000 US$ Perusahaan Penerbit SBSN Indonesia III 3.8% 23/06/2050 147,050 0.04 520,000 US$ Perusahaan Penerbit SBSN Indonesia III 4.7% 06/06/2032 514,748 0.14 10,968,517 3.08 Ivory Coast 1,217,000 US$ Ivory Coast Government International Bond 6.125% 15/06/2033 1,207,264 0.34 869,101 US$ Ivory Coast Government International Bond 6.375% 03/03/2028 878,365 0.25 1,802,000 US$ Ivory Coast Government International Bond 6.75% 25/02/2041 1,746,805 0.49 815,000 US$ Ivory Coast Government International Bond 7.625% 30/01/2033 871,113 0.25 560,000 US$ Ivory Coast Government International Bond 8.25% 30/01/2037 619,780 0.17 5,323,327 1.50 Jamaica 798,000 US$ Jamaica Government International Bond 7.875% 28/07/2045 959,505 0.27 959,505 0.27 Jordan 952,000 US$ Jordan Government International Bond 5.75% 12/11/2032 941,157 0.26 812,000 US$ Jordan Government International Bond 7.5% 13/01/2029 848,134 0.24 1,789,291 0.50 Kazakhstan 1,051,000 US$ Baiterek National Investment Holding JSC 4.65% 01/10/2030 1,034,426 0.29 941,000 US$ Baiterek National Investment Holding JSC 5.2% 06/05/2033 935,269 0.26 3,756,000 US$ Kazakhstan Government International Bond 4.714% 09/04/2035 3,682,194 1.04 1,112,000 US$ Kazakhstan Government International Bond 5% 01/07/2032 1,115,892 0.31 1,180,000 US$ Kazakhstan Government International Bond 6.5% 21/07/2045 1,280,855 0.36 520,000 US$ Kazakhstan Temir Zholy National Co JSC 4.875% 29/04/2031 509,278 0.14 730,000 US$ Kazakhstan Temir Zholy National Co JSC 5.25% 29/04/2036 703,939 0.20 603,000 US$ QazaqGaz NC JSC 5.625% 08/05/2036 594,902 0.17 9,856,755 2.77 Kenya 968,000 US$ Republic of Kenya Government International Bond 8.25% 28/02/2048 931,342 0.26 658,000 US$ Republic of Kenya Government International Bond 8.7% 26/02/2039 652,407 0.19 1,583,749 0.45 Malaysia 1,531,000 US$ Petronas Capital Ltd 3.404% 28/04/2061 1,027,202 0.29 5,911,000 US$ Petronas Capital Ltd 4.55% 21/04/2050 5,169,406 1.45 200,000 US$ Petronas Capital Ltd 4.8% 21/04/2060 177,228 0.05 637,000 US$ Petronas Capital Ltd 5.848% 03/04/2055 663,929 0.19 7,037,765 1.98 Mexico 493,000 US$ Comision Federal de Electricidad 6.045% 28/01/2034 482,396 0.14 799,000 US$ Comision Federal de Electricidad 6.45% 24/01/2035 798,792 0.22 1,618,000 US$ Mexico Government International Bond 2.659% 24/05/2031 1,432,982 0.40

Page 63

Ashmore SICAV Emerging Markets Debt Fund continued As at 30 June 2026

Schedules of Investments

The accompanying notes form an integral part of these combined financial statements.

Holdings Currency Description of investments

Market value US$

% of net assets

Transferable securities admitted to an official stock exchange listing/dealt in on another regulated market continued

Bonds continued

Mexico continued 2,846,000 US$ Mexico Government International Bond 3.75% 19/04/2071 1,632,181 0.46 2,453,000 US$ Mexico Government International Bond 3.771% 24/05/2061 1,470,819 0.41 750,000 US$ Mexico Government International Bond 4.75% 08/03/2044 603,394 0.17 262,000 US$ Mexico Government International Bond 4.875% 19/05/2033 248,858 0.07 979,000 US$ Mexico Government International Bond 5.4% 09/02/2028 989,096 0.28 1,073,000 US$ Mexico Government International Bond 5.55% 21/01/2045 969,482 0.27 1,047,000 US$ Mexico Government International Bond 5.625% 22/09/2035 1,017,632 0.29 792,000 US$ Mexico Government International Bond 5.75% 12/10/2110 644,339 0.18 964,000 US$ Mexico Government International Bond 6.125% 09/02/2038 945,154 0.27 655,000 US$ Mexico Government International Bond 6.338% 04/05/2053 611,770 0.17 1,544,000 US$ Mexico Government International Bond 6.4% 07/05/2054 1,456,378 0.41 1,672,000 US$ Mexico Government International Bond 6.75% 09/02/2056 1,641,904 0.46 928,000 US$ Mexico Government International Bond 6.875% 13/05/2037 975,848 0.27 1,539,000 US$ Petroleos Mexicanos 6.35% 12/02/2048 1,271,676 0.36 2,579,000 US$ Petroleos Mexicanos 6.7% 16/02/2032 2,598,368 0.73 1,448,000 US$ Petroleos Mexicanos 6.75% 21/09/2047 1,237,779 0.35 1,369,048 US$ Petroleos Mexicanos 8.75% 02/06/2029 1,463,238 0.41 22,492,086 6.32 Mongolia 476,000 US$ Development Bank of Mongolia LLC 6.9% 02/07/2031 470,881 0.13 200,000 US$ Mongolia Government International Bond 4.45% 07/07/2031 187,000 0.05 693,000 US$ Mongolia Government International Bond 5.95% 09/03/2032 695,363 0.20 1,353,244 0.38 Morocco 882,000 US$ Morocco Government International Bond 3% 15/12/2032 772,597 0.22 1,113,000 US$ Morocco Government International Bond 4% 15/12/2050 797,698 0.22 282,000 US$ Morocco Government International Bond 5.5% 11/12/2042 268,059 0.08 502,000 US$ Morocco Government International Bond 5.95% 08/03/2028 510,328 0.14 979,000 US$ Morocco Government International Bond 6.5% 08/09/2033 1,042,958 0.29 3,391,640 0.95 Nigeria 1,555,000 US$ Nigeria Government International Bond 6.5% 28/11/2027 1,564,330 0.44 931,000 US$ Nigeria Government International Bond 7.375% 28/09/2033 939,146 0.26 4,131,000 US$ Nigeria Government International Bond 7.625% 28/11/2047 4,048,380 1.14 238,000 US$ Nigeria Government International Bond 7.696% 23/02/2038 242,701 0.07 1,102,000 US$ Nigeria Government International Bond 8.25% 28/09/2051 1,122,883 0.32 513,000 US$ Nigeria Government International Bond 9.13% 13/01/2046 568,661 0.16 514,000 US$ Nigeria Government International Bond 9.248% 21/01/2049 579,586 0.16 353,000 US$ Nigeria Government International Bond 9.625% 09/06/2031 392,536 0.11 9,458,223 2.66 Oman 1,434,000 US$ EDO Sukuk Ltd 5.14% 22/01/2036 1,420,477 0.40 1,364,000 US$ Oman Government International Bond 6% 01/08/2029 1,406,189 0.40 1,001,000 US$ Oman Government International Bond 6.25% 25/01/2031 1,052,301 0.30 1,414,000 US$ Oman Government International Bond 6.5% 08/03/2047 1,507,161 0.42 1,578,000 US$ Oman Government International Bond 6.75% 28/10/2027 1,618,349 0.45 1,636,000 US$ Oman Government International Bond 6.75% 17/01/2048 1,795,363 0.50 593,000 US$ Oman Government International Bond 7% 25/01/2051 675,451 0.19 9,475,291 2.66

Page 64

Ashmore SICAV – Unaudited Semi-Annual Report

4: Schedules of Investments

Ashmore SICAV Emerging Markets Debt Fund continued As at 30 June 2026

The accompanying notes form an integral part of these combined financial statements.

Holdings Currency Description of investments

Market value US$

% of net assets

Transferable securities admitted to an official stock exchange listing/dealt in on another regulated market continued

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        "text": "30 June 2026"
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        "text": "The information represented in this report relates to the period from 1 January 2026 to 30 June 2026. It should not be"
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        "text": "taken as an indication of the future development of Ashmore SICAV (the \u201cCompany\u201d)."
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        "text": "to meet, in its opinion, the needs of different Shareholders. During the period under review, the Company comprised 29"
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        "text": "Ashmore SICAV Emerging Markets Debt Fund"
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        "text": "Ashmore SICAV Emerging Markets Sovereign Debt Fund"
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        "text": "Ashmore SICAV Emerging Markets Sovereign Investment Grade Debt Fund"
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        "text": "Ashmore SICAV Emerging Markets Local Currency Bond Fund"
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        "text": "Ashmore SICAV Emerging Markets Local Currency Bond Fund 2 (terminated operations on 26 June 2026)"
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        "text": "Ashmore SICAV Emerging Markets Multi-Asset Fund"
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        "text": "Ashmore SICAV Emerging Markets Investment Grade Corporate Debt Fund"
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        "text": "Ashmore SICAV Emerging Markets Short Duration Fund"
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        "text": "Ashmore SICAV Emerging Markets Equity Fund"
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        "text": "Ashmore SICAV Emerging Markets Equity ESG Fund"
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        "text": "This report does not constitute an offer or an invitation to purchase Shares of the Sub-Funds referred to herein."
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        "text": "Subscriptions are only valid if made on the basis of the current Prospectus, Key Investor Information Document"
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        "text": "(KIID), and Key Information Document (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs)"
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        "text": "supplemented by the latest audited annual report. Should the reference date of the audited annual report date back more"
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        "text": "than eight months, the subscriber must also be supplied with a semi-annual report."
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        "text": "The figures stated in this report are historical and not necessarily indicative of future performance."
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