ABOUT SERVICES SECTORS AIF DEPOSITORY NEWS PE DICTIONARY SECTORS Who Do We Work With INDUSTRIES AND SECTORS Helping clients in meeting their business challenges requires in-depth industry knowledge and understanding of the environment they operate in. Our industry focused approach allows us to serve our customers at the highest level of excellence, thanks to being familiar with the industry issues and market challenges our clients may face. Below you can find a list of industries Permian is ready to serve: PRIVATE EQUITY VENTURE INDUSTRY REAL ESTATE INVESTMENT COMPANIES FAMILY OFFICES DOMICILIATION FOUNDATIONS AND ASSOCIATIONS © Powered by Permian Marketing Team

ABOUT SERVICES SECTORS AIF DEPOSITORY NEWS PE DICTIONARY AIF DEPOSITORY An independent custodian function AIF Depository A REQUIREMENT OF THE AIFM DIRECTIVE Following the introduction of the AIFM Directive, the fund manager of certain funds is required to set up an independent depository service. It is assigned an active role in the process of securing the operation of the fund. The depository shall monitor and control the fund- and the fund manager’s activities to ensure compliance with legislation and shareholders’ agreements. AIF Depository AS, a company in the Permian group, is approved by the Financial Supervisory Authority to supply depository services under the AIF-law. BACKGROUND WHY IS DEPOSITORY IMPORTANT? Norway introduced the alternative investment fund managers’ directive (AIFMD) into law, effective from July 1, 2014. The directive sets out three particular focus areas for the depository function: cash management, storage and monitoring of ownership documentation, and monitoring of the sometimes complex agreements which govern the operation of such funds. While fund managers have always been concerned about such matters, the law sets out a third party control and monitoring requirement. Permian has extensive experience in all service areas provided by the depository function, and offers these services through AIF Depository AS. Role WHAT IS DEPOSITORY RESPONSIBLE FOR? STORING FUND ASSETS Storing physical proofs of ownership, documenting and keeping records of ownership and investments in the fund Verifying continued ownership Following up on any changes in risk and claims against the ownership CASH MANAGEMENT Control of cash flows (subscription of shares, deposits and disbursements to and from owners and underlying investments) Control of bank accounts agreements and account numbers Following up on the liquidity forecasts, checking if the fund meets its obligations MONITORING OF FUNDS' ACTIVITIES Controlling of the fund manager’s calculation of the management fees, carried interests and catch-up Following up on investment’s restrictions/mandates For more information, please contact RITA GRANLUND AIF Depository AS CEO Mobile: +47 952 60 237 © Powered by Permian Marketing Team