Luxembourg Investment Vehicles

RAIF only with authorised AIFM Eligible investors Well-informed investors. Listing Possible. ■Legal and regulatory requirements ■ Shareholding ■Reporting requirements ■ Approval and supervision Supervised Investment Vehicles SCS (AIF) Well-informed investors. SCSP (AIF) Well-informed investors. ■ Taxation In principle no. Listing is legally possible but not practicable due to low transferability. In principle no. Listing is legally possible but not practicable due to low transferability. Capital calls FCP Capital calls may be made by way of capital commitments or through the issue of partly paid units. The law does not prescribe a minimum percentage to which each unit must be paid up. SICAV Capital calls may be done by way of capital commitments or through the issue of partly paid shares. At least 5% of each share must be paid up. SICAF Capital calls may be done by way of capital commitments or through the issue of partly paid shares. At least 5% of each share must be paid up. Capital calls may be made by way of capital commitments or unpaid capital. They are freely defined in the LPA. Capital calls may be made by way of capital commitments or unpaid capital. They are freely defined in the LPA. Issue of shares / units FCP The unit price will be determined based on the principles laid down in the management regulations. Existing unitholders do not have a pre-emption right when new units are issued, unless specifically provided for in the management regulations. Issue of shares / units (continued) Contribution to SCS consists of partnership interests which can be represented by securities or capital account, according to the LPA. The price is determined by the provision included in the LPA. Contribution to SCSp consists of partnership interests which can be represented by securities or capital account, according to the LPA. The price is determined by the provision included in the LPA. Luxembourg Investment Vehicles KPMG 21 21

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