Investor Presentaiton

Overview of the AFM and ManCo Roles Due to growing levels of regulation there is an increasing propensity to outsource. Link Group has specialist expertise to manage this challenge on behalf of clients Onshore (i.e. UK): LFS acts as AFM thereby responsible for the operations of the fund Depositary/Trustee Safeguards assets, Operational oversight Law Firm Advice on set-up Accountant / Auditor Yearly check of books Sponsor AFM Retains legal and regulatory responsibility for fund Fund roles (some outsourced to third party outsourcing providers) Fund Administrator Transfer Agency Offshore (i.e. Ireland): LFS owns a Management Company (ManCo) from which it can support third party funds and provide AIFM services Depositary/Trustee Safeguards assets, Operational oversight Law Firm Advice on set-up Fund Board of Directors ManCo ManCo appointed by Fund Board to take on responsibility of the management of the fund, appointing the investment manager, administrator and the distributor Accountant / Auditor Yearly check of books Fund roles (some outsourced to third party outsourcing providers) Fund Administrator Transfer Agency LFS active Investment Manager Distribution LFS is Fund Administrator and/or Transfer Agent for ~98% of its AFM clients Source: Management information. 18 June 2019 LFS active Investment Manager Distribution LFS is Fund Administrator and/or Transfer Agent for 87% of its ManCo clients Link Group Investor Presentation & Strategy Update 35

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