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3. Corporate Governance CHF is managed by CFG Real Estate N.V. (the Fund Manager). CFG Real Estate is a wholly owned subsidiary of cfg. Cfg shareholders and statutory directors are Messrs. Bharat Bhojwani and Walter Blijleven. CHF also has a Supervisory Board of Directors with 3 members. Financial statements are audited (previous years reviewed) and are publicly available on website of the Dutch Caribbean Securities Exchange (DCSX) (next slide) The fund has been granted a Dispensation from the Central Bank of Curaçao & St. Maarten ("CBCS"), which means that it is not under regular supervision. CFG Real Estate N.V.* also has a Dispensation from the CBCS to act as a fund manager. Curaçao Heritage Fund

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