Bakersteel Global Funds SICAV - Electrum Fund D3 USD/  LU2296189033  /

The objective of the investment policy of BAKERSTEEL GLOBAL FUNDS SICAV - Electrum Fund ("sub-fund") is to achieve, with observance of the investment risk, an appropriate value growth in the sub-fund currency through a globally diversified portfolio of investments. The sub-fund is actively managed. The composition of the portfolio is established, regularly reviewed and adjusted where appropriate by the Fund Manager in accordance with the criteria defined in the investment objectives/ investment policy. The sub-fund may incur additional performance-related fees ('performance fee'), which are calculated in reference to the Benchmark MSCI ACWI Metals & Mining Index ('Index'). The investment universe of the sub-fund is not limited to the components of the index. The index may therefore differ significantly from the performance of the subfund. Aside from financial aspects, the sub-fund also takes environmental and social aspects and the principles of good corporate governance (Environment, Social, Governance - ESG) into account in its investment decision-making process in accordance with the Investment Manager's ESG Policy. Detailed information on the responsible investment principles of the Investment Manager and the Management Company can be found on their respective websites. The sub-fund is an equity fund. The sub-fund invests its assets largely in shares of companies, whose business objective is the extraction, processing and marketing of primary RESOURCES. "Primary RESOURCES" refers to those resources that are physically present, e.g. water, precious and industrial metals, oil, natural gas and agricultural commodities. The sub-fund generally has the option of investing in equities, money market instruments, certificates, target funds and fixedterm deposits, depending on the market situation and assessment by the Fund Management. These certificates are for legally permitted underlying assets such as: shares, bonds, investment fund units, financial indices and currencies. Investments in shares will constitute at least 51%. The subfund may use derived financial instruments ("derivatives") in order to achieve the aforementioned investment objectives as well as for i nvestment and hedging purposes.

The objective of the investment policy of BAKERSTEEL GLOBAL FUNDS SICAV - Electrum Fund ("sub-fund") is to achieve, with observance of the investment risk, an appropriate value growth in the sub-fund currency through a globally diversified portfolio of investments. The sub-fund is actively managed. The composition of the portfolio is established, regularly reviewed and adjusted where appropriate by the Fund Manager in accordance with the criteria defined in the investment objectives/ investment policy. The sub-fund may incur additional performance-related fees ('performance fee'), which are calculated in reference to the Benchmark MSCI ACWI Metals & Mining Index ('Index'). The investment universe of the sub-fund is not limited to the components of the index. The index may therefore differ significantly from the performance of the subfund.