Mapping of segregation of AIF and UCITS assets

Mapping of segregation of AIF and UCITS assets 1 st Level (Depositary level) UCITS 1 AIF 1 Customer 1 (non UCITS/AIF) UCITS 2 AIF 2 Customer 2 (non UCITS/AIF) Depositary Custody accounts registered in the books and records of the Depositary: Custody Account exclusively for the assets (and in the name) of the Depositary (House) (segregated) Custody Account exclusively for the assets of (and in the name of) UCITS 1 (segregated). Custody Account exclusively for the assets of (and in the name of) UCITS 2 (segregated) Custodyexclusively Account exclusively for and Custody Account for the assets of in Custody Account exclusively for the assets of name Customer 1 (one or (and in thethe name of)of. AIF 1 (segregated). (and in the name of) Customer 1 more) (each a segregated account) (segregated). Custody Account exclusively for and in Custody Account exclusively for the assets of the name of UCITS 1 (one or more) (and in the name of) Customer 2 (and in the name of) AIF 2 (segregated) (each a segregated account) (segregated). Slide 1

Mapping of segregation of AIF and UCITS assets 2 nd Level (CSD level – Danish customers) UCITS 1 AIF 1 Danish Customer 1 (non UCITS/AIF) UCITS 2 AIF 2 Danish Customer 2 (non UCITS/AIF) Depositary Danish CSD (VP Securities) Custody Accounts opened by the Depositary with the Danish CSD: Custody Account exclusively for the assets (and in the name) of the Depositary (House) (segregated) Custody Account exclusively for the assets of (and in the name of) UCITS 1 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. Custody Account exclusively for the assets of (and in the name of) UCITS 2 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account kontroler. Custody Account exclusively for the assets of (and in the name of) AIF 1 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. Custody Account exclusively for the assets of (and in the name of) AIF 2 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. Custody Account exclusively for the assets of (and in the name of) Customer 1 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. Custody Account exclusively for the assets of (and in the name of) Customer 2 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. Slide 2

Mapping of segregation of AIF and UCITS assets 2 nd Level (CSD level – Foreign customers (non UCITS/AIF)) UCITS 1* AIF 1* Foreign Customer 1 (non UCITS/AIF) UCITS 2* AIF 2* Foreign Customer 2 (non UCITS/AIF) Slide 3 Depositary Danish CSD (VP Securities) Custody Accounts opened by the Depositary with the Danish CSD: Custody Account exclusively for the assets of (and in the name of) UCITS 1 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. Custody Account exclusively for the assets of (and in the name of) UCITS 2 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. *= Not foreign customers Custody Account exclusively for the assets of (and in the name of) AIF 1 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. Custody Account exclusively for the assets of (and in the name of) AIF 2 (segregated). (Reflected in the books and records of the Depositary 1: 1, cf. slide 1). Depositary is account controler. Custody Account (omnibus) for the assets of other customers of the Depositary (Foreign Customer 1 and 2). Account name: ”[name – Depositary”] – Foreign customers”. Depositary is account controler. Custody Account exclusively for the assets (and in the name) of the Depositary (House) (segregated)

Mapping of segregation of AIF and UCITS assets 2 nd Level (Delegate level – omnibus market) UCITS 1 AIF 1 Customer 1 (non UCITS/AIF) UCITS 2 AIF 2 Customer 2 (non UCITS/AIF) Depositary Delegate Custody Accounts opened by the Depositary with the Delegate: Custody Account exclusively for the assets (and in the name) of the Depositary (House) (segregated). Account name: ”[name - Depositary] – house”. Custody Account (omnibus) for the assets of customers of the Depositary (UCITS 1 & 2, AIF 1 & 2, Customer 1 & 2 etc. ) Account name: ”[name - Depositary] – (on behalf of) clients”. Slide 4

Mapping of segregation of AIF and UCITS assets 2 nd Level (Delegate level – segregated market) UCITS 1 AIF 1 Customer 1 (non UCITS/AIF) UCITS 2 AIF 2 Customer 2 (non UCITS/AIF) Depositary Delegate Custody Accounts opened by the Depositary with the Delegate: Custody Account exclusively for the assets (and in the name) of the Depositary (House) (segregated) Custody (omnibus) the assets other customers of the Depositary Custody Account exclusively for the assets of Account Custody Accountfor exclusively forofthe assets of Custody Account exclusively for the assets of - Depositary ] – other UCITS 1 (segregated). Account name: AIF 1”[name (segregated). Account name: clients”. Customer 1 (segregated). Account name: ”[Depositary name] – on behalf of UCITS 1”. ”[Depositary name] – on behalf of AIF 1”. ”[Depositary name] – on behalf of Customer Custody Account (omnibus) for the assets of the Depositary’s 1”. UCITS customers Depositary is account controler. (UCITS 1, UCITS 2 etc. ). Account name: ”[name – Depositary] – UCITS clients”. Custody Account exclusively for the assets of Account(AIFS exclusively for the assets of Custody Account (omnibus) for the assets of the Depositary’s. Custody AIF customers UCITS 2 (segregated). Account name: AIF 2 (segregated). Account name: Customer 2 (segregated). Account name: 1, AIF 2 etc. ). Account name: ”[name – Depositary] – AIF clients”. ”[Depositary name] – on behalf of UCITS 2”. ”[Depositary name] – on behalf of AIF 2”. ”[Depositary name] – on behalf of Customer Depositary is account controler. 2”. Depositary is account controler. Slide 5

Mapping of segregation of AIF and UCITS assets 3 rd Level (Sub-delegate level – segregated market)* UCITS 1 AIF 1 Customer 1 (non UCITS/AIF) Depositary Delegate Sub-delegate Custody accounts opened by the Delegate with the Sub-delegate: Custody Account exclusively for the assets ( of the depositary (House) (segregated) (name: [Delegate - name] on behalf of [Depositary name] Custody Account exclusively for the assets of UCITS 1 (segregated). Account name: ”[Delegate name] – on behalf of Depositary/UCITS 1”. Custody Account exclusively for the assets of AIF 1 (segregated). Account name: ”[Delegate name] – on behalf of Depositary/AIF 1”. . Custody Account exclusively for the assets of Customer 1 (segregated). Account name: ”[Delegate name] – on behalf of Depositary/Customer 1”. * = Name-convention of the custody accounts with the Sub-delegate not known – the reflected is a best guess.