Investor Presentaiton

The Disclosures Regulation KPMG Disclosures Regulation ■ The Disclosures Regulation requires AIFMS and UCITS management companies (amongst others, but for the purposes of these slides, we focus on investment funds and their managers) to consider and disclose in a consistent and harmonised manner how ESG factors are adopted in their decision making processes. It aims to harmonise disclosure standards among EU member states to facilitate the comparability of different financial products and services. Many of the provisions of the Disclosures Regulation apply to all asset managers, whether or not they have an express ESG or sustainability focus. The Disclosures Regulation applies different requirements and implementation timeframes in respect of disclosures on websites, in prospectuses and in periodic reports. When will the Disclosures Regulation apply? ■ The main provisions of the Disclosures Regulation apply from 10 March 2021. The requirements relating to disclosures in the periodic reports of ESG- focused products are stated to apply from 1 January 2022, which would appear to suggest that reports published after that date (as opposed to reports relating to periods starting on or after that date) should include the required disclosures, but this may be clarified in the technical standards. © 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. 21 24

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