* Past performance is not a reliable indicator of future results.

Disclaimer: ¹ All performances shown are referred to the 3 prior funds of the Global Health Strategy. ² As of March 2026, including recently announced exit from LimmaTech Biologics, subject to closing. Including realized losses. Past performance of previous generations is not a reliable indicator of future results and is not a guide to the future performance of the Global Health Strategy. Diversification does not guarantee investment returns or eliminate risk of loss including in a declining market. Note: *9 fully realised; 2 partially realized. Source: BNPP AM Alts as of March 2026.

BNP PARIBAS Asset Management Alts: Global Health Fund II Disclaimer

Please be advised that AXA IM is now operating under the BNP Paribas Asset Management brand since January 1st, 2026, following the completion of the acquisition of AXA Investment Managers by BNP Paribas Group closed in July 2025. However, until the Target Operating Model of the combined entity is implemented – which is expected to occur in the course of 2026 – the entities compositing the new group will continue to operate with their previous organisation. This transitional period is necessary to ensure a smooth integration process and the successful implementation of the new operational framework. As such, the elements provided hereinafter are related to the ex-AXA IM Alts scope. All performances shown are referred to the 3 prior funds of the Global Health Strategy.

The fund requires a long-term commitment and involves a high degree of risk with no certainty of return. The potential for high returns for private equity investments also include higher risk.

Throughout this presentation we reference the performance and example holdings of the Global Health Investment Fund (‘GHIF’) managed by Dr. Curt LaBelle in his capacity as Founder and Managing Partner of Global Health Investment Advisors, LLC (‘GHIA’) and Jonathan Dean, as Chairman of the Investment advisory Committee of GHIF. Dr. Curt LaBelle has now joined BNPP AM Alts (ex-AXA IM Alts) as the Head of Healthcare Private Equity and sits on the investment committee of the AXA IM Global Health Fund (2022 vintage). GHIF is not a BNPP AM fund and is closed to subscription.

The comparison between GHIF and the BNPP AM Alts’ Global Health Strategy is done due to the similarities in the BNPP AM investment process, objectives and target companies and is for illustrative purposes only. There is no guarantee that the future BNPP AM investment process or objectives will be the same going forward.

GHIA is a Delaware limited liability company registered with the SEC as an Exempt Reporting Advisor – Active.

Information about the staff of BNPP AM is only informative. We do not guarantee the fact that staff remain employed by BNPP AM and exercise or continue to exercise at BNPP AM.

BNP PARIBAS Wealth Management Disclaimer

This is a marketing communication by the Wealth Management métier of BNP PARIBAS SA, a French limited liability company with share capital of EUR 2,203,201,214 whose registered office is located at 16 boulevard des Italiens 75009 Paris, France, registered with the Paris Trade and Companies Registry under number 662 042 449 supervised and authorised as a Bank by the European Central Bank ("ECB") and in France by the French “Autorité de Contrôle Prudentiel et de Résolution” (“ACPR”) and regulated by the French “Autorité des Marchés Financiers” (“AMF”) (hereinafter “BNP Paribas”).

Global Health Fund II SCSp SICAV-RAIF (hereinafter “Master Fund”) is a Luxembourg special limited partnership (“Société en Commandite Spéciale”) qualifying as an investment company with variable capital - reserved alternative investment fund (“société d'investissement à capital variable - fonds d'investissement alternatif reserve”) under the provisions of the RAIF Law and as an alternative investment fund under the AIFM Law. Its General Partner is Global Health II GP S.à r.l. (hereinafter “Master Fund’s GP”), a Luxembourg private limited liability company (“Société à Responsabilité Limitée”). BNP PARIBAS ASSET MANAGEMENT Europe, a French simplified joint-stock company (“société par actions simplifiée”), has been appointed as the alternative investment fund manager of the Master Fund (hereinafter “Master Fund’s AIFM”).

PrivateSight – Health Access 2 is a compartment of PrivateSight SCA SICAV-RAIF (hereinafter “Feeder Fund”), an investment company with variable capital structured in the form of a Multi-Compartment Reserved Alternative Investment Fund, registered as a corporate partnership limited by shares and notified with the Luxembourg CSSF. Its General Partner is PrivateSight General Partner S.à r.l. (hereinafter “Feeder Fund’s GP”), a Luxembourg private limited liability company (“Société à Responsabilité Limitée”). Global General Partner SA, a Luxembourgish limited liability company, has been appointed  as the alternative investment fund manager of the Feeder Fund (hereinafter “Feeder Fund’s AIFM”).

This material is confidential and intended solely for the use of the person to whom it has been delivered and must not be distributed, published or reproduced, in whole or in part nor may it be quoted or referred to in any document without the prior consent of BNP Paribas. This communication is provided solely for the purpose of providing general information and shall not constitute an offer, advertisement, inducement, recommendation, solicitation or an investment advice, in any state or jurisdiction in which such an offer, solicitation, advice is not authorized or to any person to whom it is unlawful to make such offer, advertisement, inducement, recommendation, solicitation, or advice. Nor shall it form the basis of or be relied upon in connection with any subscription or commitment. For the purposes herein, “BNP Paribas” means BNP Paribas SA and its respective affiliates and related corporations.

Conflicts of Interests : Investors may be exposed to various actual or potential conflicts of interests arising from BNP Paribas Group entities (BNP Paribas SA and BNP Paribas Cardif) potentially co-investing in the Master Fund. It is nonetheless highlighted that the BNP Paribas Group entities have adopted and maintain policies, procedures and controls designed to prevent and manage conflicts of interest in order to protect clients’ interests.

Although the information provided herein may have been obtained from published or unpublished sources considered to be reliable, and while all reasonable care has been taken in the preparation of this communication, BNP Paribas does not make any representation or warranty, express or implied, as to its accuracy or completeness and does not accept responsibility for any inaccuracy, error or omission nor any liability for the use of or reliance on this communication or any part of the information contained herein. Past performance is not a reliable indicator of future performance.

BNP Paribas is not giving any warranties, guarantee or representation as to the expected or projected success, profitability, return, performance, result, effect, consequence or benefit (either legal, regulatory, tax, financial accounting or otherwise) of any security. Prior to making any commitment, the investor should take advice from his legal, tax and financial advisors. Subscribers should be in a position to fully understand the features of the subscription and be financially able to bear a loss of their investment and be willing to accept such risk. Save as otherwise expressly agreed in writing, BNP Paribas is not acting as financial adviser of, or in any fiduciary capacity to, the subscriber in any subscription. The investor in the Feeder Fund expressly releases the Master Fund and the Master Fund’s GP from any liability in connection with its investment in the Feeder Fund and any recipients of the Feeder Fund marketing communications are not eligible to be direct investors in the Master Fund unless such recipients are eligible in such direct investment in accordance with the Master Fund legal documentation.

This communication contains only a summary of certain sustainability-related aspects of the Feeder Fund, it is not purported to be complete, and it will be qualified in its entirety by reference to the Issuing Document, which should be read in its entirety, in particular as regards the  pre-contractual disclosure obligations under the SFDR, including how applicable sustainability risk factors are integrated into the decision-making process and their impact on returns. The descriptions or terms regarding sustainability-related aspects of the Feeder Fund in the Issuing Document shall prevail. See SFDR Sustainability-Related Disclosures (i) in the Issuing Document which has been communicated to you before your potential commitment into the Feeder Fund and which will remain available after your commitment into the Feeder Fund on the page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060, and (ii) in the SFDR Website Sustainability-related Disclosures and its Summaries which are available before your potential commitment into the Feeder Fund on the pages https://wealthmanagement.bnpparibas/content/dam/no-index-prod/ggp/health-accessii/website-sustainability-related.pdf and https://wealthmanagement.bnpparibas/content/dam/no-index-prod/ggp/health-accessii/summary-website-sustainability-related-disclosures-fr-it-de-sp-nl.pdf, which will remain available after your commitment into the Feeder Fund on the page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060.

Any document containing additional information concerning the Feeder Fund and in particular the Issuing Document, the annual reports (which are made available to the investors on a regulatory basis after its investment in the Feeder Fund), the subscription document and the Master Fund documentation are available in English upon request from your relationship manager and from Feeder Fund’s AIFM acting as main distributor (contact details below). If you want more information, especially on the structure of the Feeder Fund and the risks associated with an investment in this Feeder Fund, we advise you to read these documents. Global General Partner SA – 60, avenue J.F. Kennedy, L-1855 Luxembourg – Grand-Duchy of Luxembourg contact@ggp.bnpparibas.com – 00 352 4242 2000

The summary of investor rights is available on the public page https://wealthmanagement.bnpparibas/lu/en/global-general-partner/Summary-of-investors-rights.html. An investment in the Feeder Fund should be conditioned upon the previous reading and understanding of its Issuing Document and its Subscription Agreement which are available in English only and – in relation to the offer to non-professional investors in Italy, Germany, Belgium and Luxembourg - its KIDs, which are available in the relevant language; such documents describe the rights and obligations of the investors. Therefore, prospective subscribers should not rely on any other information not contained in such Issuing Document and Subscription Agreement and Key Information Document (KID). Under no circumstances will the Feeder Fund, the Feeder Fund’s GP, the Feeder Fund’s AIFM, BNP Paribas, the Master Fund, the Master Fund’s GP, or the Master Fund’s AIFM pay or reimburse any current or future taxation in the subscribers’ country of origin, residence, domiciliation or wherever subsequent to the subscription, holding, conversion, sale or liquidation of ordinary shares in the Feeder Fund or in the Master Fund. The subscriber will be responsible for such payment or reimbursement.

No measures have been nor will be taken in any country or territory for the purposes of allowing a public offering of the investment described in this communication, or the holding or distribution of any communication relating to this investment. These ordinary shares are not recommended by any federal or state securities commission or any other regulatory authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of this communication. BNP Paribas, the Feeder Fund, the Feeder Fund’s GP, the Feeder Fund’s AIFM,  the Master Fund, the Master Fund’s GP and the Master Fund’s AIFM entities are separate legal entities and none of them is representing or acting as an agent for the other. The Feeder Fund’s GP and/or the Feeder Fund’s AIFM, may decide at any time to terminate the arrangements made for the marketing of the Feeder Fund. This communication is not for distribution to US Persons and US Persons are not eligible to apply to become shareholders in the Feeder Fund. The ordinary shares of the Feeder Fund will be offered and sold only outside the United States to persons who are not US Persons, in reliance on Regulation S.

The Feeder Fund has been notified, under the relevant provisions of the AIFMD, for marketing in Italy towards professional investors (as defined in Italy pursuant to art. 6, parr. 2-quinquies and 2-sexies, of the Legislative Decree n. 58/1998 as amended – “TUF” - and its implementing measures) and other categories of investors as identified pursuant to art. 14. 2 of the regulation implementing art. 39 of TUF adopted by the Italian Treasury with Decree n. 30 of 5 March 2015, as amended by  Decree n. 19 of 13 January 2022 (and, in particular, pursuant to art. 14.2.b), to non professional investors who – within the context of the provision of investment advisory services – subscribe for or acquire shares of the Feeder Fund for an initial amount not lower than 100,000 Euros (initial amount not lower than the equivalent in US Dollars of 100,000 Euros for this Feeder Fund)  (always provided that, by effect of such subscription or acquisition, the total amount of their investments in reserved AIFs does not exceed 10% of their financial portfolio; the initial participation amount is not fractionable).

In relation to the offer to non-professional investors in Italy – the Key Information Document (KID) in Italian of the Feeder Fund have been communicated to you before your potential commitment into the Feeder Fund (and in particular through dedicated URLs) and will remain available after your commitment into the Feeder Fund on the page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060 and the information on “Facilities available to retail investors” (both in English and in Italian) are available  or on the public page https://wealthmanagement.bnpparibas/lu/en/global-general-partner/Information-about-the-facilities-Italy.html. In relation to the offer to potential investors in Belgium - the ordinary shares in the Feeder Fund may only be offered in Belgium (i) under the AIFM’s passport to “professional investors” (within the meaning of the AIFM Directive), or (ii) in reliance of the private placement conditions as set forth in article 5, §1 of the Belgian law of 19 April 2014 on alternative collective investment undertakings and their managers (the “Belgian AIFM Law”). By way of private placement, the ordinary shares in the Feeder Fund may only be offered, sold, resold or otherwise transferred, directly or indirectly, in Belgium to “professional clients” and eligible counterparties within the meaning of Directive 2014/65/EU, as well as retail investors who will each invest a minimum amount of at least EUR 100,000 (or the equivalent in another currency) each and per ordinary share class, provided that higher requirements in terms of minimum commitment for the subscription of ordinary shares in the Feeder Fund are provided for in the Feeder Fund’s Issuing Document. This communication may not be used in connection with an offer or sale of securities in Belgium unless permitted by law. This communication is made available to you in Belgium on the condition and with your express declaration that (i) you are a “professional investor” within the meaning of the AIFM Directive, or (ii) you are a “professional client” or an eligible counterparty within the meaning of Directive 2014/65/EU, or (iii) you are not a “professional investor” within the meaning of the AIFM Directive or a “professional client” or an eligible counterparty within the meaning of Directive 2014/65/EU and you will invest a minimum amount of EUR 100,000 (or the equivalent in another currency) per ordinary share class, provided that higher requirements in terms of minimum commitment for the subscription of the ordinary shares in the Feeder Fund are provided for in the Feeder Fund’s Issuing Document.

This communication is addressed to you and may not be transmitted, nor may any content thereof be transmitted, to any other person. Neither this communication nor any part of it constitutes an offer or an invitation to subscribe for ordinary shares in the Feeder Fund. More globally and in relation to the offer to non-professional investors in Belgium, Germany, Luxembourg and Italy, the Key Information Documents (KID) written in French, Flemish, German, Italian and English have been communicated to you before your potential commitment into the Feeder Fund (and in particular through dedicated URLs) and will remain available after your commitment into the Feeder Fund on the page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060. The Issuing Document of the Feeder Fund is also available for investors only on the same page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060. By accepting this material, the recipient agrees to be bound by the foregoing limitations.

BNP Paribas SA (2026). All rights reserved

BNP PARIBAS Wealth Management Disclaimer

This document is communicated by the Wealth Management métier of BNP PARIBAS SA, a French limited liability company with share capital of EUR 2,233,569,514 whose registered office is located at 16 boulevard des Italiens 75009 Paris, France, registered with the Paris Trade and Companies Registry under number 662 042 449 supervised and authorised as a Bank by the European Central Bank ("ECB") and in France by the French “Autorité de Contrôle Prudentiel et de Résolution” (“ACPR”) and regulated by the French “Autorité des Marchés Financiers” (“AMF”) (hereinafter “BNP Paribas”).
CD&R Fund XIII (Luxembourg), SCSp (hereinafter “Master Fund”) is a Luxembourg special limited partnership (“Société en Commandite Spéciale”). Its General Partner is CD&R Associates XIII (Luxembourg) GP, S.à r.l. (hereinafter “Master Fund’s GP”) is a Luxembourg private limited liability company (“Société à Responsabilité Limitée”). The Master Fund will be managed by  Clayton, Dubilier & Rice, LLC and Alter Domus Management Company S.A., a Luxembourg public limited liability company (“société anonyme”), has been appointed by the Master Fund’s GP and authorized by the Luxembourg’s Commission de Surveillance du Secteur Financier (“CSSF”) as an Alternative Investment Manager (hereinafter “Master Fund’s AIFM”).
PrivAccess XV – Atlantic Buyouts XIII is a compartment of PrivAccess XV SICAV RAIF SCA (hereinafter “Feeder Fund”), an investment company with variable capital structured in the form of a Multi-Compartment Reserved Alternative Investment Fund registered as a corporate partnership limited by shares and notified with the Luxembourg CSSF. It is managed by its General Partner: PrivAccess General Partner S.à.r.l. and Global General Partner SA which is an Alternative Investment Fund Manager (AIFM) authorized by the Luxembourg CSSF, appointed to manage the Feeder Fund.
This material is confidential and intended solely for the use of the person to whom it has been delivered and must not be distributed, published or reproduced, in whole or in part nor may it be quoted or referred to in any document without the prior consent of BNP Paribas. This document is provided solely for the purpose of providing general information and shall not constitute an offer, a solicitation or an investment advice, in any state or jurisdiction in which such an offer, solicitation, advice is not authorized or to any person to whom it is unlawful to make such offer, solicitation, or advice. Nor shall it form the basis of or be relied upon in connection with any subscription or commitment. In addition, this document and its content shall not in any way be construed as an advertisement, inducement or recommendation of any kind or form whatsoever. For the purposes herein, “BNP Paribas” means BNP Paribas SA and its respective affiliates and related corporations.
Although the information provided herein may have been obtained from published or unpublished sources considered to be reliable, and while all reasonable care has been taken in the preparation of this document, BNP Paribas does not make any representation or warranty, express or implied, as to its accuracy or completeness and does not accept responsibility for any inaccuracy, error or omission nor any liability for the use of or reliance on this document or any part of the information contained herein. Past performance is not a reliable indicator of future performance.
BNP Paribas is not giving any warranties, guarantee or representation as to the expected or projected success, profitability, return, performance, result, effect, consequence or benefit (either legal, regulatory, tax, financial accounting or otherwise) of any security.
Prior to making any commitment, the investor should take advice from his legal, tax and financial advisors. Subscribers should be in a position to fully understand the features of the subscription and be financially able to bear a loss of their investment and be willing to accept such risk. Save as otherwise expressly agreed in writing, BNP Paribas is not acting as financial adviser of, or in any fiduciary capacity to, the subscriber in any subscription.
Potential investors are informed herein that (i) an investor in the Feeder Fund will not be a limited partner in the Master Fund, and will have no direct interest in the Master Fund or direct voting rights in the Master Fund, and will not be a party to the Master Fund’s Partnership Agreement and, accordingly, will not have any direct right thereunder and, to the fullest extent permitted by law, may not bring a direct action on its own behalf against the Master Fund or the Master Fund’s GP and (ii) none of the Master Fund’s GP, the Master Fund, such other vehicles or their respective affiliates, partners, members, officers, managers, agents advisors or representatives is (A) a sponsor, promoter, manufacturer, general partner, adviser, manager or agent of the Feeder Fund, (B) in any way responsible for overseeing or ensuring compliance with legal or regulatory obligations applicable to the Feeder Fund, the fund manager of the Feeder Fund or BNP Paribas, or (C) in any way responsible to the Feeder Fund, the fund manager of the Feeder Fund, BNP Paribas or the Feeder Fund investors for the content of the Feeder Fund offering documents, constitutional documents or subscription, all as updated or supplemented from time to time.
This document contains only a summary of certain sustainability-related aspects of the Feeder Fund. It is not intended to be complete and will be qualified in its entirety by reference to the Issuing Document, which should be read in its entirety, in particular as regards the  pre-contractual disclosure obligations under the SFDR, including how applicable sustainability risk factors are integrated into the decision-making process and their impact on returns. The descriptions or terms regarding sustainability-related aspects of the Feeder Fund in the Issuing Document shall prevail. See SFDR Sustainability-Related Disclosures (i) in the Issuing Document which has been communicated to you before your potential commitment into the Feeder Fund and which will remain available after your commitment into the Feeder Fund on the page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060, and (ii) in the SFDR Website Sustainability-related Disclosures and its Summaries which are available before your potential commitment into the Feeder Fund on the pages https://wealthmanagement.bnpparibas/content/dam/no-index-prod/ggp/pa-xv-abxiii/Website-Sustainability-Related-Disclosures-PrivAccess-XV-Atlantic-Buyouts-XIII.pdf and https://wealthmanagement.bnpparibas/content/dam/no-index-prod/ggp/pa-xv-abxiii/Summary-Website-Sustainability-Related-Disclosures-FR-IT-DE-SP-NL.pdf which will remain available after your commitment into the Feeder Fund on the page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060.

Any document containing additional information concerning the Feeder Fund and in particular the Issuing Document, the annual reports (which are made available to the investors on a regulatory basis after its investment in the Feeder Fund), the subscription document and the Master Fund documentation are available in English upon request from your relationship manager and from PrivAccess General Partner S.à r.l. (contact details below). If you want more information, especially on the structure of the Feeder Fund and the risks associated with an investment in this Feeder Fund, we advise you to read these documents.

PrivAccess General Partner S.à r.l. – 60, avenue J.F. Kennedy,
L-1855 Luxembourg – Grand-Duchy of Luxembourg

The summary of investor rights is available on the public page https://wealthmanagement.bnpparibas/lu/en/global-general-partner/Summary-of-investors-rights.html. An investment in the Feeder Fund should be conditioned upon the previous reading and understanding of its Issuing Document and its Subscription Agreement which are available in English only and – in relation to the offer to non-professional investors in Italy, Germany, Belgium and Luxembourg - its KIDs, which are available in the relevant language; such documents describe the rights and obligations of the investors. Therefore, prospective subscribers should not rely on any other information not contained in such Issuing Document and Subscription Agreement and Key Information Document (KID).
Under no circumstances will the Feeder Fund, PrivAccess General Partner S.à.r.l., Global General Partner SA, BNP Paribas, the Master Fund, the Master Fund’s GP, or the Master Fund’s AIFM pay or reimburse any current or future taxation in the subscribers’ country of origin, residence, domiciliation or wherever subsequent to the subscription, holding, conversion, sale or liquidation of ordinary shares in the Feeder Fund or in the Master Fund. The subscriber will be responsible for such payment or reimbursement. No measures have been nor will be taken in any country or territory for the purposes of allowing a public offering of the investment described in this document, or the holding or distribution of any document relating to this investment. These ordinary shares are not recommended by any federal or state securities commission or any other regulatory authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of this document. BNP Paribas, PrivAccess General Partner S.à.r.l., Global General Partner SA, the Feeder Fund, the Master Fund, the Master Fund’s GP and the Master Fund’s AIFM entities are separate legal entities and none of them is representing or acting as an agent for the other.
Global General Partner SA and/or PrivAccess General Partner S.a.r.l. may decide at any time to terminate the arrangements made for the marketing of the Feeder Fund. This document is not for distribution to US Persons and US Persons are not eligible to apply to become shareholders in the Feeder Fund. The ordinary shares of the Feeder Fund will be offered and sold only outside the United States to persons who are not US Persons, in reliance on Regulation S.

Disclosable Disqualifying Event: In connection with its foreign exchange business, BNP Paribas S.A. has been the subject of an order of the New-York State Department of Financial Service (NYS DFS) dated as of May 24, 2017. The 2017 NYS DFS order may be found at: https://www.dfs.ny.gov/system/files/documents/2020/03/ea170524_bnp_paribas.pdf The Feeder Fund has been notified, under the relevant provisions of the AIFMD, for marketing in Italy towards professional investors (as defined in Italy pursuant to art. 6, parr. 2-quinquies and 2-sexies, of the Legislative Decree n. 58/1998 as amended – “TUF” - and its implementing measures) and other categories of investors as identified pursuant to art. 14. 2 of the regulation implementing art. 39 of TUF adopted by the Italian Treasury with Decree n. 30 of 5 March 2015, as amended by  Decree n. 19 of 13 January 2022 (and, in particular, pursuant to art. 14.2.b), to non-professional investors who – within the context of the provision of investment advisory services – subscribe for or acquire shares of the Feeder Fund for an initial amount not lower than 100,000 Euros (initial amount not lower than the equivalent of 100,000 Euros in US Dollars for this Feeder Fund)  (always provided that, by effect of such subscription or acquisition, the total amount of their investments in reserved AIFs does not exceed 10% of their financial portfolio; the initial participation amount is not fractionable).
In relation to the offer to non-professional investors in Italy – the Key Information Document (KID) in Italian of the Feeder Fund have been communicated to you before your potential commitment into the Feeder Fund (and in particular through dedicated URLs) and will remain available after your commitment into the Feeder Fund on the page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060 and the information on “Facilities available to retail investors” (both in English and in Italian) are available  or on the public page https://wealthmanagement.bnpparibas/lu/en/global-general-partner/Information-about-the-facilities-Italy.html In relation to the offer to potential investors in Belgium - the ordinary shares in the Feeder Fund may only be offered in Belgium (i) under the AIFM’s passport to “professional investors” (within the meaning of the AIFM Directive), or (ii) in reliance of the private placement conditions as set forth in article 5, §1 of the Belgian law of 19 April 2014 on alternative collective investment undertakings and their managers (the “Belgian AIFM Law”). By way of private placement, the ordinary shares in the Feeder Fund may only be offered, sold, resold or otherwise transferred, directly or indirectly, in Belgium to “professional clients” and eligible counterparties within the meaning of Directive 2014/65/EU, as well as retail investors who will each invest a minimum amount of at least EUR 100,000 (or the equivalent in another currency) each and per ordinary share class, provided that higher requirements in terms of minimum commitment for the subscription of ordinary shares in the Feeder Fund are provided for in the Feeder Fund’s Issuing Document. This document may not be used in connection with an offer or sale of securities in Belgium unless permitted by law.
This document is made available to you in Belgium on the condition and with your express declaration that (i) you are a “professional investor” within the meaning of the AIFM Directive, or (ii) you are a “professional client” or an eligible counterparty within the meaning of Directive 2014/65/EU, or (iii) you are not a “professional investor” within the meaning of the AIFM Directive or a “professional client” or an eligible counterparty within the meaning of Directive 2014/65/EU and you will invest a minimum amount of EUR 100,000 (or the equivalent in another currency) per ordinary share class, provided that higher requirements in terms of minimum commitment for the subscription of the ordinary shares in the Feeder Fund are provided for in the Feeder Fund’s Issuing Document.
This document is addressed to you and may not be transmitted, nor may any content thereof be transmitted, to any other person. Neither this document nor any part of it constitutes an offer or an invitation to subscribe for ordinary shares in the Feeder Fund.
More globally and in relation to the offer to non-professional investors in Belgium, Germany, Luxembourg and Italy, the Key Information Documents (KID) written in French, Flemish, German, Italian and English have been communicated to you before your potential commitment into the Feeder Fund (and in particular through dedicated URLs) and will remain available after your commitment into the Feeder Fund on the page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060. The Issuing Document of the Feeder Fund is also available for investors only on the same page https://services.dataexchange-eu.fiscloudservices.com/LogOn/128060.

By accepting this documentation, the subscriber agrees to be bound by the foregoing limitations.

BNP Paribas SA (2026). All rights reserved.