TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GG00B4L0PD47
Issuer Name
FIDELITY EMERGING MARKETS LIMITED
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights; An acquisition or disposal of financial instruments
3. Details of person subject to the notification obligation
Name
Saba Capital Management, L.P.
City of registered office (if applicable)
New York
Country of registered office (if applicable)
United States
4. Details of the shareholder
Name
City of registered office
Country of registered office
Saba Capital Master Fund, Ltd.
Cayman Islands
Saba Capital CEF Special Opportunities Master Fund 2, Ltd.
Cayman Islands
Saba Capital Income & Opportunities Fund
United States
Saba Capital Bluebird Fund, Ltd.
Cayman Islands
5. Date on which the threshold was crossed or reached
20-Oct-2025
6. Date on which Issuer notified
21-Oct-2025
7. Total positions of person(s) subject to the notification obligation
.
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
1.824126
3.033989
4.858115
3104854
Position of previous notification (if applicable)
1.948500
3.726000
5.674500
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
GG00B4L0PD47
1165811
0
1.824126
0.000000
Sub Total 8.A
1165811
1.824126%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Total Return Swap
11/28/2025
Cash
1939043
3.033989
Sub Total 8.B2
1939043
3.033989%
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
Ultimate controlling person
Name of controlled undertaking
% of voting rights if it equals or is higher than the notifiable threshold
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold
Total of both if it equals or is higher than the notifiable threshold
Boaz Weinstein
Saba Capital Management GP, LLC
Saba Capital Management GP, LLC
Saba Capital Management, L.P.
4.858115%
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
21-Oct-2025
13. Place Of Completion
New York
