INTRODUCTION TO GVQ UK FOCUS FUND

June 2016

1

Notice to recipients

This presentation includes details of the GVQ UK Focus Fund (the "Fund"). The Fund is a recognised scheme for the purposes of section 264 of the Financial and Markets Act 2000 ("FSMA"). The promotion of the Fund to the general public and the communication of this document in the United Kingdom is accordingly allowed by section 238(4)(c) of FSMA. Whilst this presentation is being communicated outside the United Kingdom directly by the Fund and the directors of the Fund are responsible for its contents, wherever communicated, it is approved for the purposes of section 21 of FSMA for communication in the United Kingdom by GVQ Investment Management Limited ("GVQIM"). GVQIM, whose registered office is at 12-13 St. James’s Place, London, SW1A 1NX, is registered in England (no. 4493500) and is authorised and regulated by the UK Financial Conduct Authority ("FCA "). GVQIM also acts as Facilities Agent for the Fund in the UK, where at its registered office those documents and services required by section 264 of FSMA are available.

GVQIM acts as the investment manager for the Fund included in this presentation and is acting for the Fund in relation to the offering of securities in the Fund described in this presentation and matters relating thereto and it or any of its associates may have an interest or position in securities in the Fund. It will not be acting for, or offering advice to, any other person (unless other arrangements apply between GVQ Investment Management Limited and such person) in relation to investment in the Fund and will not be responsible for providing protections afforded to its clients in relation thereto.

This document is made on a confidential basis. Reproduction of this document is not permitted. This presentation and the information contained herein is not intended as an offer or solicitation for the purchase or sale of any financial instrument nor shall it or any part of it or the fact of its distribution or communication form the basis of or be relied upon in connection with any contract.

The information contained in this document is limited in nature and subject to updating, revision, completion and amendment, and should not be relied upon. The information in this presentation is subject to change without notice, its accuracy is not guaranteed, it may be incomplete and is condensed. This document is not intended to provide, and should not be relied on for, accounting, legal or tax advice or investment recommendations. Potential investors are advised to independently review and/or obtain independent professional advice and draw their own conclusions regarding the economic benefit and risks of investing in the Fund and legal, regulatory, credit, tax and accounting aspects in relation to their particular circumstances. You should remember that the value of investments, and the income from them, may go down as well as up, and is not guaranteed, and investors may not get back the amount of money invested. Past performance cannot be relied on as a guide to future performance. Exchange rate changes may cause the value of overseas investments or investments denominated in different currencies to rise or fall.

The information herein is believed to be reliable but GVQIM does not warrant its completeness or accuracy and to the fullest extent permitted by law excludes any liability that may attain to it by reason of any inaccuracy or omission, except to the extent that such inaccuracy or omission shall be caused by a fraud of GVQIM.

Guernsey: The shares that are the subject of this presentation may only be made from within the Bailiwick of Guernsey either: (i) by persons licenced to do so under the Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as amended) (the “POI Law”); or (ii) to persons licenced under the POI law or the Insurance Business of (Bailiwick of Guernsey) Law, 2002 (as amended), or the Banking Supervision (Bailiwick of Guernsey) Law, 1994 (as amended), or the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2000 (as amended).

Switzerland: The Prospectus and the Supplements of the Funds, the Key Investor Information Documents (“KIIDs”), the Memorandum and Articles of Association as well as the annual and interim reports of the Company are available only to Qualified Investors free of charge from the Swiss Representative. In respect of the Shares distributed in Switzerland to Qualified Investors, place of performance and jurisdiction is at the registered office of the Representative. Swiss Representative: Vescore Fondsleitung AG, Bahnhofstrasse 8, CH-9001 St. Gallen. Swiss Paying Agent: Notenstein La Roche Private Bank Ltd, Bohl 17, CH-9004 St. Gallen

Source & Copyright:

CITYWIRE. Jamie Seaton is AAA rated by Citywire for his 3 year risk adjusted performance for the period 30/06/2013 – 30/06/2016

FE Crown Rating: 5 crown rating issued 30th June 2016

Morningstar Overall RatingTM of as at 30th June 2016

2

Contents

Introduction to GVQ Investment Management 3

The Fund and team structure 6

Applying private equity techniques to public markets 12

Portfolio construction 19

Portfolio analysis 22

Conclusion 26

Appendix

• Discrete annual five year performance 29

• Fund facts 30

• Contact details 31

INTRODUCTION TO GVQ INVESTMENT MANAGEMENT

4

GVQ Investment Management (“GVQIM”)

• GVQIM specialises in applying private equity investment techniques to public markets

• Since our foundation in 2002 we have become one of Europe’s leaders in this field1 managing over £550m of AUM

• Our investment process focuses on proprietary research and draws upon an extensive network of industrialists and private equity professionals

• We manage concentrated portfolios, unconstrained by equity indices, designed to deliver superior returns over the medium term

• We offer open and closed ended funds based around two core strategies: Unconstrained (GVQ UK Focus Fund and GVQ Opportunities Fund2) and Strategic block investing (Strategic Equity Capital plc)

• Our Fund Managers have extensive private and public equity experience, and invest in our products

Source: 1. GVQIM. 2. Launch date 14th October 2015

5

-7.4

9.3 11.3 16.2

2.2 5.8 6.3

10.9

-10

0

10

20

1 year 3 years 5 years 7 years

%

UK Focus Fund FTSE All-Share

Our UK products and performance history

• GVQ UK Focus Fund (£356.6m) – Citywire AAA rated for 40 consecutive months – Morningstar 4 star rated overall – FE Trustnet 5 crowns and FE Alpha Manager – Investment Week ‘Fund Manager of the Year

2015’, UK Growth category, ‘Highly Commended’

• GVQ Opportunities Fund (£63.5m) – Launched 14th October 2015

• Strategic Equity Capital plc (£138.4m) – FE Trustnet 5 crowns – Morningstar 5 star rated for 3 and 5 years – Money Observer Rated Fund – Only UK smaller companies trust to produce

positive returns in 20112

As at 30th June 2016 Source: 1. GVQIM 2. Northern Trust 3. Capita Past performance is no guarantee of future performance and the value of investments can go down as well as up

GVQIM products have materially outperformed their benchmarks over the medium and long term

Annualised performance1, 3

-8.7

16.8 14.5

22.3

-3.7

9.4 11.2 14.3

-10

0

10

20

30

1 year 3 years 5 years 7 yearsSEC NAV Total Return FTSE Small Cap x IT Total Return¹

%

Annualised performance1, 2

THE FUND AND TEAM STRUCTURE

7

Key facts

• Investment approach – Unconstrained All–Cap mandate, high alpha strategy, £450m hard Fund cap – Bottom up stock selection using private equity based valuation techniques – Invests in a maximum 35 UK equities – Investment time horizon typically three years; targeting an IRR of at least 15% per annum

• Fund structure – Offshore (Dublin) Open Ended Investment Company (OEIC) – Marketable to UK Retail and Institutional investors – Daily valuation and guaranteed liquidity – Can be held in SIPPs, ISAs & offshore bonds – FCA recognised, RDR compliant, UCITS IV, reporting status, and an independent board

Source: GVQIM

A focused high alpha investment strategy with strong corporate governance and regulatory framework

8

GVQ UK Focus Fund; 7 year summary1

As at 30th June 2016 Source: 1. GVQIM Past performance is no guarantee of future performance and the value of investments can go down as well as up

0

50

100

150

200

250

Jun

09

Dec

09

Jun

10

Dec

10

Jun

11

Dec

11

Jun

12

Dec

12

Jun

13

Dec

13

Jun

14

Dec

14

Jun

15

Dec

15

Jun

16

Cumulative total return performance 30/06/09 – 30/06/16

GVQ UK Focus Fund (I) FTSE All Share

%

GVQ UK Focus Fund has delivered a cumulative total return of 186.8% versus a cumulative total return of 106.2% from its benchmark, the FTSE All Share index, with a strong history of relative capital preservation

Highlights

• Outperformed its benchmark, the FTSE All Share index, by more than 80 percentage points over a 7 year period, with average annualised returns of 16.2%

• Average outperformance of its benchmark of 5.3% per annum

• Ranked in the top decile versus its IA UK All Companies peer group over 3, 5 and 7 years

• Consistent outperformance of peer group in each discrete calendar year

2009 2010 2011 2012 2013 2014 2015

• One of the best relative capital preservation records in its peer group. Since the end of the financial crisis the index has delivered negative returns in 36 discrete months; the Fund has outperformed in 27 of them

• External awards

9

Over 30 years combined experience

Fund Managers

Jamie Seaton, CFA Fund Manager

• Fund Manager of GVQ UK Focus Fund since April 2009 • 16 years experience at leading investment organisations • UK & Pan-European equity expertise; GVQIM, Rothschild Asset

Management (RAM) • Strong track record; GVQ UK Focus Fund, RAM

Jeff Harris, ACA Assistant Fund Manager

• Appointed Assistant Fund Manager in May 2014 • 7 years experience at leading financial service organisations including 2

years as an Analyst at GVQIM • Previously Jeff worked at PricewaterhouseCoopers within the

Transaction Services team on a number of private equity and corporate transactions

Independent Research Committee Member

Stuart Widdowson Chairman of Research Committee

• Fund manager of Strategic Equity Capital plc since June 2009 • 15 years experience at leading investment organisations • Prior to joining GVQIM, Stuart spent 5 years at HgCapital where he was

responsible for originating and executing £50-350m of leverage buyouts, including take privates, both in the UK and Germany

Source: GVQIM

Fund Managers supported by an extra independent member on the Research Committee

10

Organisational structure

GVQIM Board Jane Tufnell (Non Executive Chairman)

Jamie Seaton (Chief Executive) Stuart Widdowson (Executive Director)

Ben Russell (Chief Operating and Compliance Officer) Aron Balas (Non Executive Director)

Jonathan Kestenbaum (Non Executive Director)

Industry Advisory Panel

Stewart Binnie, Sir Clive Thompson, Peter Williams, Chris Rickard, Lindsay Dibden

Research Committee

Stuart Widdowson (Chairman) Jamie Seaton

Amba Analyst Support Sean Baliah, Naveed Majeed

GVQ UK Focus Fund/GVQ Opportunities Fund

Jamie Seaton (Fund Manager) Jeff Harris (Assistant Fund Manager)

Adam Khanbhai (Analyst) Oliver Bazin (Analyst)

Strategic Equity Capital plc

Stuart Widdowson (Fund Manager) Jeff Harris (Assistant Fund Manager)

Adam Khanbhai (Analyst) Oliver Bazin (Analyst)

Sales & Marketing

Theresa Russell (Head) Nadzeya Zadrutskaya (Marketing Executive)

Legal, Compliance, Finance & Operations

Ben Russell (COO & Compliance Officer) Bob Pamment (Compliance Consultant) Rahul Kunder (Operations Executive)

Support

Beverley Adler (Executive Assistant)

Fully operationally independent and focused on investment activity; administration, custody and valuations all outsourced to independent third parties

Source: GVQIM

11

Our Industry Advisory Panel

GVQIM’s Industrial Advisory Panel Year joined IAP Industry experience Previous experience

Sir Clive Thompson 2003 Business services Consumer services FMCG

Chairman of Rentokil Initial plc until 2004, having been Chief Executive for twenty years to 2002. Former President of the CBI, member of the Committee on Corporate Governance and Deputy Chairman of the Financial Reporting Council.

Stewart Binnie 2006 Retail Media Technology

Formerly Chairman of Aurora Fashions. Member of the Investment Committee of the Schroder Private Equity FoF business, a member of the board of Schroder Ventures Asia Pacific Fund; and has advised Schroders plc on private equity related issues since 2005. Stewart is also a Former Partner of Permira (formerly Schroder Ventures) and Schroder Finance Partners.

Chris Rickard 2011 Industrials Business services Healthcare products

Former CFO of Taylor Wimpey plc, Whatman plc, VT Group plc, Weir Group plc and Meggitt plc. Previously he was Head of Corporate Development at Morgan Crucible. Has led numerous successful financial and operational restructurings, as well as executed more than 100 acquisitions, mergers or disposals.

Peter Williams 2013 Media Finance Director from 1991 to 2011 of Daily Mail and General Trust plc, a worldwide media business, spanning newspapers, online consumer businesses, business information and exhibitions, with a current market capitalisation of around £2.6 billion. Peter is currently a Senior Independent Director of Perform Group plc, a FTSE 250 digital sports media business. He is also a director of Ibis Media VCT plc, a small listed VCT that specialises in early stage media investments.

Lindsay Dibden 2014 Healthcare Private Equity

Lindsay spent a 23 year career in private equity investment. He was a founder partner of HgCapital, establishing its Healthcare practice in 1996, which he led for 16 years. During his career he was involved in more than 30 transactions. Prior to retiring from the partnership in 2012, Lindsay served on the firm’s Investment Committee and Executive Committee. He is now the owner of two healthcare businesses providing care in the home across the counties of West Sussex and Hampshire. In addition he acts as an advisor to Spring Ventures, Alvarez & Marsal and EVOCO AG and actively manages a diverse portfolio of other investments.

A proprietary panel network with extensive plc board, operating and M&A experience

Source: GVQIM

APPLYING PRIVATE EQUITY TECHNIQUES TO PUBLIC MARKETS

13

How we identify value in potential investments

Source: GVQIM

We focus on four key drivers of shareholder value creation to maximise the chance of success

All investments are valued using an in-house re-rating model

Focus on GVQ cash yield* * Enterprise value to operating cash less

maintenance capital expenditure

All investments undergo in-house, prospective

cash-flow and historic modelling

Focus on growth in operating cash flow

All investments are valued using an in-house de-gearing model

Focus on transfer of value from debt to equity holders

over investment period

All investments are valued using an in house

leveraged buy-out model Focus on recent relevant trade and private equity

transaction multiples

Main focus of most PUBLIC EQUITY INVESTORS

Main focus of most PRIVATE EQUITY INVESTORS

Growth Corporate Activity

Value De-gearing

14

Valuation case study: Shire

As at 30th June 2016 Source: GVQIM Past performance is no guarantee of future performance and the value of investments can go down as well as up

Shire shows significant upside on all four of GVQIM’s valuation methodologies

Shire

Growth Corporate Activity

Value De-gearing • Trades at a discount to long term history and significant discount to pharma companies with similar growth e.g. Novo Nordisk

• Implied impact of re-rating to relevant peers of mid single digits p.a.

• Market leading positions in niches with structural growth

• Strong history of consistent double digit EPS growth

• Forecast double digit annual revenue and profit growth 2016-2020E, enhanced by operational synergies from Baxalta transaction

• Strong cash generation bolstered by recent Baxalta transaction

• Rapid de-leveraging; targeting 2-3x ND / EBITDA 12-18m post close (implies >1.5 turns of ND/EBITDA reduction p.a.)

• Forecast operating cashflow of c$6bn p.a. from 2018 onwards = c6% of market cap

• Material discount to precedent M&A transactions, typically >14x EBITDA

• Implied EBITDA multiple of recent bid approaches: - AbbVie bid for Shire c15x - Pfizer bid for AstraZeneca c14x - Pfizer bid for Allergan c19x

• Strong history of earnings accretive M&A

15

There are strict criteria for inclusion in our funds

Source: GVQIM Note: 1. Growth at a reasonable price

GVQIM’s research process aims to identify high quality coveted assets with attractive cash flows

Turnaround Distress

A

B

C

A

B

C

Asse

t qua

lity Asset quality

Investment focus

Speculative growth Fair valued GARP1 Under valued Recovery

Avoid

Avoid Avoid

16

How we identify coveted assets

Qualitative Quantitative

• Niche market leaders

• Orderly end markets, with some growth

• Sustainable business model/franchise/uniqueness

• Overseas earnings

• Able to pass on price increases

• Intellectual property

• Operational know-how

• High barriers to entry

• High and/or improving ROCE

• Strong cash conversion

• Limited capex or working capital investment needed to finance growth

• Recurring revenues/profits/cashflows

• Ideally achieving, or has potential to achieve double digit operating profit margin

• Realisable surplus tangible fixed assets and/or working capital

We believe coveted assets retain value even in tough times, and are more likely to be acquired

We look for characteristics which GVQIM believes potential acquirers value highly

Source: GVQIM

17

Our Black List screens out companies with fundamental business risks

Operational

• Excessive reliance on a single product, customer, supplier or distributor

• The primary driver of profitability cannot be influenced by management (e.g. resources)

• Inherently low margins

• Structurally declining markets

Financial

• Poor accounting systems or controls

• Weak cash flows – especially when reported profits look good!

• Excessive gearing

Governance

• Controlling shareholder with misaligned interests

• Below average/deteriorating governance practices

• Stakeholders unwilling to engage constructively

We have learnt what to avoid from previous experiences

Source: GVQIM

18

Research Committee ensures consistency of approach

Materials • Watch list • M&A transactions • Cash flow screen • Yield screen • Four drivers screen • LBO screen • Directors dealing

• Company description • Investment thesis • Cash flow model • LBO model

• Company meeting • Management analysis • Stakeholder analysis • Qualitative financial

analysis • Feasibility

• Counterparty analysis • Due diligence

verification • Bespoke research • Forensic accounting • Management

referencing

• Progress against original investment thesis

• Proposed changes to target price

• Changes to consensus estimates

Debate • Are we focusing on the right stocks/sectors?

• What is happening in trade and private equity?

• Is there are credible case for investment?

• Does the company meet our basic criteria?

• Peer group review • Work together to identify

key due diligence questions and investment risks

• Have we properly answered all of the key questions?

• Automatic review against thesis every 12 months or earlier as required

Output • New idea • Initial Target Price • Due diligence questions • Final Target Price • Watch list

Industrial Advisory Panel involvement

Multi-stage research process; fully documented and scrutinised using a variety of methods and people

Idea generation Investment Memorandum

Preliminary Investment

Recommendation

Final Investment Recommendation

Monitoring & review

Source: GVQIM

PORTFOLIO CONSTRUCTION

20

How it works in practice

• Approximately 250 stocks

• Private equity derived target price and catalyst date

• Quality graded

• Black list overlay

Watchlist

• IRR vs. fund’s weighted average IRR

• Level of research completed

• Fund restrictions

• Liquidity

Weighting

• Every investment is appraised by between four and nine people

• Research Committee ensures consistency of approach, reviews investments

• Dedicated Fund Managers on each GVQIM product

Decision

Fully integrated research and investment approach

Source: GVQIM

21

Investment parameters - Structured framework with flexibility to allow performance delivery

• Individual stock positions restricted by level of due diligence completed and overseen by ‘Research Committee’

• Sector weights based on British Venture Capital Association (“BVCA”) guidelines; no one industry group (e.g. aerospace) to account collectively for >20% of NAV

• No one position to account for >10% NAV

• Positions >5% of NAV in aggregate must not be >40% of NAV

• Maximum 10% holding in any one company across all GVQIM managed funds

Research Level % of NAV

Investment Memorandum (IM) Up to 2%

Preliminary Investment Recommendation (PIR) Up to 4%

Final Investment Recommendation (FIR) >4%

Designed to help ensure stock specific and systemic risks are minimised

Source: GVQIM

PORTFOLIO ANALYSIS

23

Index exposure

As at 30th June 2016 Source: Northern Trust and GVQIM 1. Includes FTSE Small Cap and AIM Past performance is no guarantee of future performance and the value of investments can go down as well as up

Q2 2016 index exposure

GVQ UK Focus Fund %

1 FTSE 100 Index 30.5

2 FTSE 250 Index 36.6

3 Smaller Companies & Other1 28.3

4 Cash 4.6

1

2

3

4

Q2 2016 top ten industry exposure

1

2

3

4 5 6

7

8

9

10

11

GVQ UK Focus Fund %

1 Asset Managers 15.5

2 Pharmaceuticals 10.9

3 Broadcasting & Entertainment 8.4

4 Publishing 8.2

5 Software & Computer Services 8.0 6 Building Materials & Fixtures 6.1 7 Investment Banks / Brokers 6.0 8 Aerospace & Defence 5.9

9 Commercial Services 4.8

10 Media Agencies 4.8

11 Other (Inc. Cash) 21.4

Portfolio balanced across the market cap spectrum; weighted average market cap of holdings £6.4bn. Zero exposure to troubled areas of the UK market e.g. Banks / Retailers

24

Top 10 thesis summaries

Company Sector % of portfolio

GVQIM thesis

Shire Pharma 9.7 Attractive growth and cash flow based valuation characteristics. Leveraged buyout analysis suggests material upside; supported by precedent M&A transactions

Aberdeen Asset Management Financial 8.3 Strong balance sheet and cash generation; scope for further increases in cash returns. Growth both organically and through acquisitions to drive re-rating over the medium term.

Jupiter Fund Management Financial 7.2 Strong brand and market position; medium term growth prospects. Balance sheet strength and excellent cash generation. Commitment to return excess cash to shareholders

Tyman Industrials 6.1 De-gearing and earnings growth; US recovery; bolt on deals; self help through site consolidation and automation in USA

Numis Financial 6.0 Earnings growth and cash generation combined with strong balance sheet and market position. Well placed to continue to benefit from corporate activity

BBA Aviation Industrials 4.8 De-gearing and growth driven by on-going recovery in end markets and synergies from Landmark acquisition. An area of active Private Equity interest. Disposals imply material upside

AA Consumer Services 4.8

Market leader with significant growth and cash flow potential over the medium term as benefits from the company’s 3YR transformation plan flow through. Area of Private Equity interest

Sky Media 4.7 Attractive business model, market position and management team with a strong history of execution. Self help. M&A interest

WPP Media 4.7 Strong growth prospects both organically and through acquisitions. Scope for increased cash returns to investors. Transaction multiples; Dentsu acquisition of Aegis on 13x EV/EBITDA

Daily Mail Media 4.3 Strong balance sheet with attractive medium term cash flow and growth; high intellectual property and barriers to entry

As at 30th June 2016 Source: Northern Trust and GVQIM Past performance is no guarantee of future performance and the value of investments can go down as well as up

BREXIT clearly presents massive uncertainty to the domestic UK economy. The Fund is largely positioned away from this in overseas earning assets or strong domestic niches such as Sky

25

Consensus portfolio valuation

GVQ UK Focus Fund Weighted average1

GVQ UK Focus Fund Weighted median1

FTSE All-Share Total Return Index2

No of holdings 25 25 -

Market cap (£bn) 6.4 2.1 -

Price to earnings 13.5 13.4 16.6

Dividend yield (%) 3.9 3.9 3.7

Price to book 2.9 2.6 1.8

Price to sales 2.4 2.0 1.2

GVQ cash flow yield* (%) 10.3 9.3 -

Return on equity 19.1 15.3 -

Operating margin 20.8 16.6 -

Net Debt/EBITDA 1.0 1.5 1.9

Earnings growth (%) 8.1 6.3 -0.53

As at 30th June 2016 Source: 1. GVQIM 2. Bloomberg 3. Peel Hunt (NTM – ex Oil, Gas & Mining) * GVQ cash flow yield = (EBITDA – maintenance capital expenditure) / Enterprise Value Past performance is no guarantee of future performance and the value of investments can go down as well as up

We continue to believe the Portfolio represents a collection of highly covetable assets, with better growth, better cash flow and lower leverage than the broader market

CONCLUSION

27

We approach investing in public markets differently

• Valuation focused – We seek all four drivers of return: growth, value, and the potential for

equity value creation through corporate activity and degearing – Our primary valuation tools are leveraged buy out models, cash flow

modelling and relevant M&A transaction data – Investment based on forecast IRRs, not relative value or traditional ratios

• Research driven – Well developed, multi-stage, documented due diligence process – Extensive use of industry experts including a dedicated Industrial Advisory

Panel – Investment proposals include entry and exit strategies, and catalysts for

value creation

• Team based approach – Every investment is appraised by between four and nine people – Research Committee ensures consistency of approach, reviews

investments – Dedicated Fund Managers on each GVQIM product

Source: GVQIM

Our distinctive process has been refined over nearly a decade of investing to deliver consistently high risk adjusted returns

APPENDIX

29

Historic performance - top quartile performing Manager

Annual performance1 2015 2014 2013 2012 2011

% 6.7 6.0 44.2 19.6 -5.0

Quartile2 2 1 1 1 1

Source: 1. GVQIM & Northern Trust 2. Bloomberg Past performance is no guarantee of future performance and the value of investments can go down as well as up

3 years Top decile2

Top decile2

Established track record of successfully employing private equity techniques in the quoted market

5 years

30

Fund facts – GVQ UK Focus Fund

Manager GVQ Investment Management Management charge 0.75% per annum (I class) 1.25% per annum (A class)

Share classes I class and A class (intended for institutional and high net worth investors respectively)

Initial charge None

ISIN IE 0033377494 (I class) IE0033377502 (A class)

Bloomberg-ticker* SVIUKFI (I class) SVIUKFA (A class)

Sedol 3337749 (I class) 3337750 (A class)

Minimum initial investment £1,000 for both share classes

Benchmark FTSE All Share Total Return Index Fund leverage Zero

Currency GBP (for all payments) Fund size £356.6m (As at 30th June 2016)

Legal structure Dublin listed OEIC Liquidity Open-ended fund; daily liquidity

Launch date 5th August 2003 Dividend frequency Semi- annual

Listing The Irish Stock Exchange Dividend yield 2.1%

The Prospectus and key information document (KIID’s) for the GVQ UK Focus Fund [sub fund of GVQ Investment Funds (Dublin) plc] are available in English on GVQIM’s website www.gvqim.com. Please see offering documents for full term and conditions

31

Contact details

For Fund subscriptions and redemptions please visit the GVQIM website for an APPLICATION FORM or contact: Northern Trust Fund Servicing Centre Tel +353 (0)1 434 5099 Fax +353 (0)1 434 5200 For all other investment queries please contact: GVQ Investment Management marketing team Email: gvqimmarketing@gvqim.com Tel +44 (0)20 3824 4500 Fax +44 (0)20 3824 4539 GVQ Investment Management Limited 12-13 St. James’s Place, London, SW1A 1NX www.gvqim.com