Metzler European Small and Micro Cap/Class B

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1 Factsheet Calculation date: 6/4/2018 Page 1 Fund Basics ISIN code Fund symbol Fund category Fund currency Management Company Depositary IE00BQ1YC516 A12AA0 Equity funds Euro Metzler Ireland Limited Brown Brothers Harriman Trustee Services (Ireland) Limited, Dublin Fiscal year 1/10/ - 30/9/ German tax classification Minimum investment equity fund pursuant to Section 2(6) of the Investment Tax Law 500,000 EUR Fund launch 1/10/2014 Offering price (incl. subscription charge) Dividend type Performance Fee Benchmark Registered for sale Investment Policy EUR Distribution Germany, Austria, Finland, France, Luxembourg, Norway, Spain, Sweden, The investment objective of the Fund is to increase the value of its investments over the long term. The Fund will predominantly invest, on a diversified basis, its assets in European equities and equity related securities. Investment focus will be on small and micro cap companies, measured by market capitalisation (the value of the issued shares of a publicly traded company), with long-term growth prospects. - SRRI - Synthetic Risk and Reward Indicator Typically lower rewards Lower risk Typically higher rewards Higher risk Recommended investment horizon 5-10 years Risk Profile The indicated risk category for this Fund is 5 because it is largely invested in equities, thus being exposed to movements in equity markets generally, and to specific movements in regional equity markets (Europe). Expectations of high returns from market and currency gains are offset by high downside risk from equity and currency fluctuations and liquidity risk. An investment in the fund is only suitable for very experienced and very risk-conscious investors who are capable of estimating the risks and the value of the investment. The investor must be prepared and be in a position to accept considerable value fluctuations in the price per share and, potentially, a considerable loss of capital. Contact Details Metzler Ireland Limited Kilmore House Spencer Dock North Wall Quay Dublin 1 Ireland Phone: (+49-69) Fax: (+49-69) metzler-service@metzler.com

2 Factsheet Calculation date: 6/4/2018 Page 2 Prices & Distributions Subscription price Net Asset Value Volume share class Fund volume EUR EUR M. EUR M. EUR Equity participation rate 92.32% Last distribution date - Distribution - Redemption suspended for these target funds Performance Chart 0.00% Asset Allocation as of 29/3/2018 Equities Cash Others Top 10 Countries as of 29/3/2018 Euro zone United Kingdom Sweden Norway Denmark Jersey 95.09% 5.34% -0.43% 54.67% 10.70% 10.62% 7.73% 6.81% 2.65% 1.92% Performance for 12-month-periods Period Fund 7/4/2017-6/4/ /4/2016-6/4/ /4/2015-6/4/ /4/2015-6/4/2016* *Including subscription fee of 0.00% (net calculation) Performance in % Period Fund YTD month months year years p.a Since fund launch p.a Top 10 Sectors as of 29/3/2018 Capital Goods Software & Services Commercial & Professional Services Materials Technology Hardware & Equipment Diversified Financials Consumer Durables & Apparel Media Automobiles & Components Health Care Equipment & Services 21.01% 17.18% 12.99% 10.65% 10.36% 4.23% 3.09% 2.91% 2.43% 2.41%

3 Factsheet Calculation date: 6/4/2018 Page 3 Top 10 Equities as of 29/3/2018 LEARNING TECH.GR.LS RECTICEL JOST WERKE AG INH. O.N. SOLUTIONS 30 INH. EO-,51 NANOGATE SE INH. O.N. ARROW GLOBAL GROUP LS-,01 F.I.L.A. S.P.A. DATA RESPONS ASA NK -,50 HELMA EIGENHEIMBAU AG PRIMA INDUSTRIE EO 2, % 3.54% 3.36% 3.34% 3.28% 3.20% 3.20% 3.17% 3.09% 2.84% Paying Agent in Finland SKANDINAVISKA ENSKILDA BANKEN AB (publ) HELSINKI BRANCH GTS Financial Institutions Global Transaction Services Finland SEB Merchant Banking Finland Unioninkatu 30, FI Helsinki Finland French Centralising and Financial Agent BNP Paribas Securities Services 3 rue d'antin Paris France Expenses & Fees Subscription charge 0.00% Redemption Fee not applicable Management Fee p.a. 1.10% Depositary Fee p.a. 0.05% Performance Fee - Ongoing charges* calculation date 30/9/2016 Ongoing charges* 1.23% *The ongoing charges contain all annual operating costs except transaction costs. Paying Agent in Germany B. Metzler seel. Sohn & Co. KGaA Untermainanlage Frankfurt am Main Germany Luxembourg Paying and Branch Representation Agent BNP Paribas Securities Services S.C.A Luxembourg 33, Rue de Gasperich L-5826 Hesperange Luxembourg Paying Agent in Sweden SKANDINAVISKA ENSKILDA BANKEN AB (publ) Custody Services SEB Merchant Banking Sergels Torg 2 SE Stockholm Sweden Paying Agent in Austria Erste Bank der oesterreichischen Sparkassen AG Am Belvedere Wien Austria Tax transparent (weiß) reporting fund since: 9/10/2014 Spanish Representative and Distributor ALLFUNDS BANK, S.A. Madrid Estafeta, 6 La Moraleja Complejo Plaza de la Fuente Alcobendas Madrid Spain

4 Factsheet Calculation date: 6/4/2018 Page 4 Representative and Paying Agent for RBC Investor Services Bank S.A. Esch-sur-Alzette, Zurich Branch Bleicherweg Zurich Security number: This is marketing information. Investment in investment funds is subject to market risks. Past performance results are no indication of future results. Especially performance results referring to a period of less than twelve months are no reliable indicator for future results due to the short comparison period. Issuance and redemption commissions are not included in the performance figures. The domicile of the Fund is Ireland. For interested parties, the Statues, the Prospectus, the Key Investor Information Documents (KIIDs) as well as the Annual Report and, if applicable, the Semi-Annual Report may be obtained free of charge from the Swiss Representative and Paying Agent in.

5 Factsheet Calculation date: 6/4/2018 Page 5 Fund Manager Market & Fund Comments Good economic data and intact macroeconomic conditions also created a good foundation for price gains on European stock markets in the fourth quarter. On the whole, companies reported good figures. Furthermore, investors are still in search of good investment alternatives in the current low interest rate environment - investors' risk appetite was therefore correspondingly high. The fact that the fund still recorded a loss of 4.27% and thus performed more weakly than the broad European market for small and mid caps can be attributed to the generally high fluctuation spread of the fund stocks. Fund manager Stefan Meyer, Lorenzo Carcano Fund manager Stefan Meyer joined Metzler in He is Portfolio Manager in the team Equities and responsible for the investment strategy European small & micro caps. From 2000 to 2006, he worked at Sal. Oppenheim jr. & Cie. AG & Co. KGaA in Cologne, Germany, where he focused on managing European small and mid caps. Mr. Meyer studied international business administration at the International Business School in Bad Homburg, Germany, and in 1999, he received a Bachelor of Science degree from Florida Atlantic University in a dual degree program. Co-fund manager Lorenzo Carcano, CFA, joined Metzler in He is Co-Head of the team Equities and as Portfolio Manager responsible for the investment strategy European small & mid caps. As Portfolio Manager he has been specializing in European equities since Prior to starting as a Portfolio Manager for German equities in 1997, he completed a one-year trainee program at Metzler. Mr. Carcano graduated in economics and business administration (Italian Dottore in Economia e Commercio) from L. Bocconi in Milan/Italy. He also completed the program Goethe Executive MBA in Alliance with Duke in Impressive price gains were recorded by the Swedish specialist for laboratory technology Biotage (35.7%) following the disclosure of good figures. The shares of the Danish construction materials group H+H International gained 27.1%. Besides the good figures, the acquisition of the sand-lime brick business from HeidelbergCement also met with a positive response from investors. The fund's top performers in the review quarter also included the British Learning Technology Group (22.9%). However, the performance of the British construction stock Low & Bonar (31.4%) was disappointing on account of the company's worse than expected profitability and because of the CEO's departure from the company. The quarterly figures of the Swedish Nordic Waterproofing (-25.6%) failed to convince. The shares in the German Centrotech Sustainable AG, specialist in ventilation and heating technology, lost 14.0%; the company had to lower its market expectations and guidance for 2018 in response to the strong competition on the home market Germany. Following a good performance we sold off our investments in shares of the German Cancom, the Irish Dalata Hotel Group and the Dutch Basic Fit. Due to the good share price development, the market capitalization of all three companies had risen to such a degree that they were no longer consistent with our investment universe. Newcomer to the fund were the shares in M1 Kliniken AG, specialist in plastic cosmetics and surgery. As of December 29, 2017