Home About us Services Our team Fund Luxembourg Contact Lux Nordic Financial Opportunities Fund Performance since inception 86.7% (Inception 30.11.2010) Performance YTD 3.9% (30.09.2021) Unlike most other companies, the capital needs of banks and insurers are not determined by markets only, but also by regulators. While most other companies’ capital consists of shareholders’ equity only, a large proportion of capital of banks and insurers is in the form of bond-like instruments, such as hybrid capital and subordinated debt. These instruments are much more complicated than ordinary bonds, investors’ rights vary significantly between issuers, but also between securities issued by the same issuer. Add varying degrees of liquidity, and we have a large market with, at times, serious mispricings. Lux Nordic Financial Opportunities Fund was launched on 30 November 2010 in order to take advantage of these mispricings. Although the fund can invest in any security issued by a corporate or government, the largest exposure is usually to so-called hybrid bonds (tier 1 instruments) in banks and insurers. More than 80% of assets must be invested in securities issued by bank, insurers and other financial companies – in practice this number is usually close to 100%. Equities can account for up to 25% of total assets. The fund can use leverage up to 20% of net assets. The portfolio manager uses a fundamental approach to select target companies, and to select the type of asset that is likely to produce the highest risk-adjusted returns. Monthly reports Annual Report 31 12 2020 September 2021 August 2021 Lux Nordic © 2020

Home About us Services Our team Fund Luxembourg Contact Contact persons Jørgen Ganer, jg@luxnordic.lu Espen Madsen, em@luxnordic.lu Jan Petter Thomassen, jpt@luxnordic.lu Krister Ericsson, ke@luxnordic.lu Michelle Præstegaard, mp@luxnordic.lu Bryndis Gudmundsdottir, bg@luxnordic.lu Åsa Ohlson, ao@luxnordic.lu Contact Lux Nordic Phone +352 27 20 20 Fax +352 27 20 20 27 Email: info@luxnordic.lu Address Lux Nordic Wealth Management S.A. 60, Grand Rue L-1660 Luxembourg TVA number: LU 22166353 Lux Nordic © 2020

Home About us Services Our team Fund Luxembourg Contact Meet our people Lux Nordic has a team of skilled professionals who will manage your financial assets in a highly professional environment. Team members Jørgen Ganer Espen Madsen Jan Petter Thomassen Krister Ericsson Michelle Fischer Præstegaard Bryndis Gudmundsdottir Åsa Ohlson Lux Nordic © 2020