I tried converting a web archive containing highlighted text to a PDF document. It seemed to work as I could see the yellow highlighted text in the PDF document. However, in the inspector pane, I couldn’t see any annotations under Document > Annotations. Also, applying Tools > Summarize highlights as Markdown to the PDF document produced no results. Is this the expected behaviour or is this a bug?
That’s the expected behaviour, the conversion doesn’t convert background colors or underlined text etc. to PDF annotations.