Which text delivers clearer message to users

we are going to provide an in-app purchase item, so that user can unlock every blocked features in the app. However, this doesn't include removing ads-free.

In order to ensure users really understand what they are going to pay for, I was wondering, which text delivers clearer message?

Everything, without ad-free: Cloud, summary chart, dividend chart, zoomable chart, selectable chart period, watchlists + portfolios, news, background alert, currency exchange and upcoming features.

OR

Everything, except ad-free: Cloud, summary chart, dividend chart, zoomable chart, selectable chart period, watchlists + portfolios, news, background alert, currency exchange and upcoming features.

We do bold and italic on without ad-free: and except ad-free:

It looks like

May I know, is using "without" clearer to you, or using "except" clearer to you?

Thank you.