HL investment help - understanding the fees?

Completely newbie here, please can someone tell me what these charges mean? Seems like a lot, especially if you have more than one S&S ISA and SIPP or multiple different holdings?

Fidelity Global Technology (Class W - Accumulation) (SIPP)

Based on £5k investment over 5 years:

HL charges: Management charges - 0.45% p.a. (£121.14)

Investment charges:

Net initial charge - 0% p.a.

Net ongoing charge - 1.04% p.a. £279.10

Transaction costs - £134.69

Incidental charges - £0

Total charges: £534.93 over 5 years

Average annual charge: 1.99%