Investor Presentaiton

The Taxonomy Regulation Interaction with the Disclosures Regulation The Taxonomy Regulation is closely linked to the Disclosures Regulation. While the Taxonomy Regulation provides a common language for firms and investors to identify which economic activities are "environmentally sustainable", it also includes supplemental disclosure obligations to those set out in the Disclosures Regulation. What additional disclosures are required by the Taxonomy Regulation? Where a financial product has "sustainable investment" as its objective within the meaning of the Disclosures Regulation, the information to be disclosed in the prospectus and annual report must include: information on the environmental objective or environmental objectives to which the investment underlying the financial product contributes; and a description of how and to what extent the investments underlying the financial product are invested in environmentally sustainable activities. This description must specify the share of investments in environmentally sustainable economic activities, including details on the respective proportions of enabling and transition activities, as a percentage of all investments underlying the financial product. Where a financial product "promotes environmental characteristics", the prospectus and annual report should include the following statement: "The "do no significant harm" principle is applied only for the investments underlying the product that take into account the EU criteria for environmentally sustainable investments. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable investments." Where a financial product is not: (a) a financial product with sustainable investment as its objective; or (b) a financial product that promotes, among other characteristics, environmental or social characteristics within the meaning of the Disclosures Regulation, the prospectus and annual return must include this statement: "The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable investments." KPMG © 2020 KPMG, an Irish partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. 25 25

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