This document has been prepared for informational purposes only and is intended only for the designated recipients who are deemed by Anphiko Asset Management SA or its affiliates (“AAM”) to be investors that qualify as “professional clients” as defined in Annex II of Directive 2004/39/CE. Should the recipient of this document not be a professional investor, or should the recipient be in doubt of his/her classification as retail or professional investor, he/she should seek legal or professional advice. This document is neither intended, nor should be considered, as an investment advice, an offer to sell, or solicitation or basis for any contract for purchase of any security or
financial product, as an official confirmation, or statement of AAM. With respect to indicative values, no representation is made that any transaction can be effected at the values provided.

All Investment performance information included within this material is historical. Past performance is not indicative of future results. Any tax related information contained within this presentation is for informational purposes only and should not be considered tax advice.

This document is not and should not be construed as legal or regulatory advice in any jurisdiction. Before implementing any proposal, investors should seek specialist legal advice to ensure that they will not contravene any applicable law or regulation. Neither AAM nor its employees shall have any legal responsibility to ensure that the investor acts in accordance with applicable law or regulation.

You should assume that any data presented has been prepared by AAM unless otherwise stated. AAM has made every effort to ensure that facts, figures and processes presented in this document are true at the time the document is published. However the attention of the recipients is drawn to the fact that such facts, figures and processes change over time. Should any information be material to the reader or investor after the date stated on the document, he/she should confirm such information with AAM. The portfolios/funds are managed in accordance with their investment objective, investment policy and rules on investments and borrowings as they are disclosed in their respective investment agreement/latest prospectus. Any additional information provided by AAM in relation to its investment approach and risk management processes and guidelines are informative only and may change over time without notice to investors. AAM assumes no responsibility for any loss or damage arising from the use of, or reliance upon, any documents other than the investment agreement/prospectus (and simplified prospectus).

Should an investment limit be breached as a result of events that are not under the control of the manager, AAM will adopt as priority the remedying of such situation taking due account of the interests of the client and funds’ shareholders in view of the market conditions.

Anphiko Asset Management S.A. is authorised and regulated by the Luxembourg CSSF as an investment firm pursuant to Part I, Chapter 2, Section 2, Sub-section 1, Art. 24-3 and Subsection 2, Art. 25, 28-6, 28-9, 28-10 of the law of 5 April 1993 on the financial sector. AAM provides amongst other services asset management services for third party assets.