27 July, 2020 Nordea 1 - European Value Fund BP - EUR This fund is managed by Nordea Investment Funds S.A. EFC Classification Equity Advanced Europe Price +/- Date 52wk range 48.78 EUR -0.60 24/07/2020 37.59 63.53

Issuer Profile Administrator Nordea Investment Funds S.A. The fund seeks to provide durable positive absolute returns by applying a disciplined Address 562, Rue de Neudorf 2220 value style approach. The managers consider themselves as business rather than stock market investors. Their approach concentrates on long-term investment and not on mar City Luxembourg Tel/Fax + 352 43 39 50-1 Website www.nordea.lu Chart 5 year

General Information ISIN LU0064319337 Fund Type Capitalization 65 Quote Frequency daily Quote Currency EUR 60 Currency EUR Foundation Date 15/09/1989 55 Fund Manager Tom Stubbe Olsen Legal Type Investment company according to Luxembourg law 50 UCITS Yes Financial Year End 31/12/2019 45 Fund size 323,049,297.09 EUR Minimal Order 0.00 EUR 40

Costs 35 Entry fee 5.00 % 2016 2017 2018 2019 2020 Exit fee 0.00 % vwdgroup: Operation costs 1.50 % 38 Days 200 Days Ongoing charges 1.85 %

Fund Returns 2015 2016 2017 2018 2019 2020 Returns 13.40 3.93 10.30 -15.12 15.25 -20.79 Category Average 13.57 0.80 10.18 -11.41 25.65 -9.17 Category Ranking 618 / 1410 375 / 1849 1022 / 2043 1824 / 2262 2556 / 2793 2671 / 3014 40

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Returns Category Average

Fund Ratios (end previous month) Timing YTD 1 month 6 months 1 year 3 year 5 year Performance Nordea 1 - European Value Fund BP - EUR -23.21 % 2.83 % -23.21 % -21.41 % -7.57 % -3.71 % Volatility Nordea 1 - European Value Fund BP - EUR 27.60 % 19.94 % 17.17 % 27 July, 2020 Nordea 1 - European Value Fund BP - EUR This fund is managed by Nordea Investment Funds S.A. EFC Classification Equity Advanced Europe Price +/- Date 52wk range 48.78 EUR -0.60 24/07/2020 37.59 63.53

Participations (30/06/2020)

Landis Group Novo-Nordisk -B- -ALa- ndis Group Participation Percentage Novo-Nordisk -B- Novo-Nordisk -B- 7.68 % Royal Dutch Shell -A- Sap Se 7.59 % Ericsson B Stabilus SA 6.39 % Ericsson B Sap Se Hunting PLC 4.82 % CORE LABORATORIES N.V. 4.73 % Sap Se Plc 4.69 % Publicis Groupe SA Publicis Groupe SA 4.49 % Publicis Groupe SA Ericsson B 4.44 % Royal Dutch Shell -A- 3.85 % Stabilus SA Landis Group 3.71 % Weir Group Plc Weir Group Plc Stabilus SA CORE LABORATORIES N.V. Hunting PLC

CORE LABORATORIES N.V. Hunting PLC

Geographical composition (30/06/2020)

Other Italy Other United States of America Country Percentage Italy Germany United States of America Germany 28.19 % Germany 18.67 % Sweden Denmark 10.05 % Switzerland 9.74 % Sweden France 9.18 % Sweden 8.27 % France United States of America 7.36 % Italy 4.36 % France Other 4.18 % Switzerland United Kingdom

Switzerland United Kingdom Denmark

Denmark Sector composition (30/06/2020)

Other Materials Other Energy Financials Materials Energy Telecommunication Services Financials Consumer Staples Telecommunication Services Health Care Sector Percentage Consumer Staples Energy 20.75 % Health Care Information Technology 20.12 % Consumer Discretionary 17.48 % Information Technology Industrials Industrials 17.30 % Information Technology Health Care 10.24 % Industrials Consumer Staples 4.79 % Consumer Discretionary Telecommunication Services 4.49 % Financials 2.37 % Consumer Discretionary Materials 2.17 % Other 0.30 %