Private Banking Fee Schedule Contents

PICTET & CIE (EUROPE) SA, NIEDERLASSUNG DEUTSCHLAND JUNE 2021

PRIVATE BANKING FEE SCHEDULE CONTENTS

1 Introduction 2 Custody 4 Transactions – Bonds and precious metals – Equities, warrants and ETFs – Funds – Derivatives and structured products 8 Advisory mandates 9 Discretionary mandates 10 Additional information 11 Other services charged separately PRIVATE BANKING – FEE SCHEDULE 1

INTRODUCTION As a specialised investment-led service company, we are solely dedicated to wealth management, asset management and asset servicing. As integrity and respect for our clients have been core values for us since the very outset, our fee schedule has been formulated so as to be as transparent as possible.

Our fee structure has three layers: custody, based on assets under administration at Pictet; transactions, based on the investment operations made on the portfolio; and mandates, based on the type of portfolio management applied.

CUSTODY Custody forms the cornerstone of all private banking services. It encompasses all the services necessary for the administration of an investment portfolio: book-keeping, settlement, dividend and coupon income collection, multi-source pricing, corporate actions, valuation statements, etc.

TRANSACTIONS Pictet provides trade execution in over 80 markets and covers all asset classes, with priority being given to best possible execution.

MANDATES Pictet offers two broad categories of mandate: advisory and discretionary. Advisory mandates are designed for clients who wish to manage their investment portfolio themselves with guidance from Pictet. Discretionary mandates are designed for clients who prefer to delegate fully the management of their assets to us. 2 PRIVATE BANKING – FEE SCHEDULE

CUSTODY Custody is the cornerstone of all private banking services. There is no point in discussing portfolio risk if the stability and security of custody are in question. Pictet is recognised as one of the best custodians in the world, on account of its financial solidity, confidentiality and operational excellence.

ACCOUNT MAINTENANCE FEE The account maintenance fee is a accounts as well as an array of additional quarterly amount of EUR 400 per services, available on request. Any account. This fee covers the standard third-party fees are charged on top. account services, the maintenance of

SERVICES INCLUDED IN THE ACCOUNT STANDARD SERVICES REPORTS & MAILINGS (ON REQUEST) MAINTENANCE FEE Current accounts Financial statements – monthly, quarterly Margin accounts for traded options and futures Investment management report (via Pictet Connect) Financial statements and advices Tax statement (country dependent) Additional mailing instructions

TRANSFERS & PAYMENTS (ON REQUEST) OTHER SERVICES (ON REQUEST)

Internal transfers Pictet Connect Standing orders (wire fees excluded if applicable) Wealth App Incoming funds / securities Pictet publications SWIFT / SIC copies Investigations (up to one year)

CUSTODY FEE A custody fee is charged on deposits held clients who hold at least one securities on accounts denominated in EUR. The account at Pictet, this exempted amount fee takes into account the exempted is EUR 1,000,000. amounts set out below and the exemption for discretionary mandates, if the Deposits booked on accounts that are European Central Bank (ECB) applies used for settling discretionary mandates negative interest rates on deposits. A are not included in the calculation of the custody fee is therefore payable on client custody fee. Therefore, as a rule, no deposits in EUR if the ECB’s interest rate custody fee is charged for deposits on on its “deposit facility” is negative.1) such accounts.

A custody fee is charged to clients who do not have a Pictet custody account on deposits exceeding EUR 100,000. For

1) The method used to calculate the custody fee is as follows: If the ECB applies a negative interest rate for the so-called “deposit facility”, clients will pay a custody fee to Pictet - for the same period as the one set by the ECB. In each case, the fee that is charged will be calculated using the positive percentage rate which corresponds to the negative interest rate applied by the ECB. Therefore, if the ECB applies a negative interest rate of -0.5% p.a. on deposits, the custody fee will amount to 0.5% p.a. on the respective deposit, less the applicable exempted amount, and taking into account the exemption for discretionary mandates. If the ECB changes the relevant reference value, the custody fee will change one bank business day thereafter in Frankfurt am Main. PRIVATE BANKING – FEE SCHEDULE 3

CUSTODY (CONTINUED)

ADMINISTRATION FEE The administration fee is based on the assets under custody and is debited on a quarterly basis. This administration fee covers Pictet custody, dividend and coupon income collection, corporate actions and other custody-related activities.

ASSETS (IN EUR) ANNUAL RATE

UP TO 5,000,000 0.34% UP TO 10,000,000 0.32% UP TO 15,000,000 0.30% UP TO 25,000,000 0.28% UP TO 50,000,000 0.26% ABOVE ON REQUEST The annual rate is an effective rate based on the average end of month portfolio values at market value.

Any third-party custody fees are debited separately. 4 PRIVATE BANKING – FEE SCHEDULE

TRANSACTIONS Pictet provides trade execution in over 80 markets and covers all asset classes. Transactions take place in a prompt, reliable and efficient manner, following best execution principles, and integrate all aspects of the trading process: orders, execution, settlement and reporting.

HANDLING FEE A handling fee of EUR 50 is debited For transactions on time deposits, the for each security transaction. It is also handling fee is debited only when the charged for any partial execution. interest is received. This fee covers Pictet’s handling costs for each trade. For call deposit transactions (2 days’ notice), a handling fee of EUR 20 is For money market funds and short-term charged on a monthly basis. bonds (i.e. with contractual maturity lower than 12 months), the handling fee is debited only on purchase or subscription.

BROKERAGE FEE In addition to the handling fee, a There is no brokerage fee for trades on brokerage fee is charged based on the time deposits, money market funds, or size of the transaction, including partial short-term bonds. execution. This fee covers Pictet and correspondent brokerage costs, stock exchanges access, settlement fees, etc. PRIVATE BANKING – FEE SCHEDULE 5

TRANSACTIONS (CONTINUED)

BONDS AND PRECIOUS METALS TRANSACTION (IN EUR) PRECIOUS METALS BONDS

UP TO 250,000 0.30% 0.40% UP TO 500,000 0.25% 0.35% UP TO 1,000,000 0.20% 0.30% UP TO 3,000,000 0.15% 0.25% ABOVE 0.10% 0.20%

EQUITIES, WARRANTS AND ETFs TRANSACTION (IN EUR) INTERNATIONAL MARKETS EMERGING MARKETS

UP TO 250,000 0.70% 1.15% UP TO 500,000 0.60% 1.00% UP TO 1,000,000 0.50% 0.85% UP TO 3,000,000 0.40% 0.70% ABOVE 0.30% 0.55% The list of markets covered in the categories “International markets” and “Emerging markets” can be found on page 10 under Additional information. 6 PRIVATE BANKING – FEE SCHEDULE

TRANSACTIONS (CONTINUED)

FUNDS BOND EQUITY ALTERNATIVE TRANSACTION (IN EUR) FUNDS FUNDS FUNDS

UP TO 250,000 0.40% 0.80% 1.20% UP TO 500,000 0.35% 0.70% 1.05% UP TO 1,000,000 0.30% 0.60% 0.90% UP TO 3,000,000 0.25% 0.50% 0.75% ABOVE 0.20% 0.40% 0.60%

If applicable, third parties may apply front- or back-end loads on fund transactions up to 5% of the investment amount.

DERIVATIVES AND STRUCTURED Transactions in options and structured PRODUCTS products are charged according to the bonds schedule. The brokerage fee on financial futures is EUR 35 per contract. For derivatives, correspondent brokerage fees, settlement fees and other costs of third parties are charged in addition.

8 PRIVATE BANKING – FEE SCHEDULE

ADVISORY Advisory mandates are designed for clients who wish to manage their own investment portfolio with guidance from Pictet. MANDATES We can advise you either on specific asset classes or on portfolio construction.

ADVISORY MANDATE Our advisory service is designed to provide advice on your assets, either proactively with daily investment suggestions in every asset class, or reactively, by analysing and providing advice and our views on specific investments you may be considering.

ASSETS (IN EUR) ANNUAL RATE

UP TO 5,000,000 0.60% UP TO 10,000,000 0.55% UP TO 15,000,000 0.50% UP TO 25,000,000 0.45% UP TO 50,000,000 0.40% ABOVE ON REQUEST The annual rate is an effective rate based on the average end of month portfolio values at market value.

Advisory fees are charged in addition to the custody fees described on pages 2 and 3. They do not include transaction fees. An “all-in” fee model is available upon request.

A custody fee is charged to advisory mandates for deposits that exceed an exempted amount of EUR 1,000,000. PRIVATE BANKING – FEE SCHEDULE 9

DISCRETIONARY Discretionary mandates are designed for clients who prefer to delegate fully the management of their assets to us. MANDATES Our economists, market analysts, strategists and investment managers select the appropriate investments to achieve our clients’ objectives.

CLASSIC MULTI-ASSETS MANDATES Classic multi-assets mandates offer a The fee charged includes choice of different risk levels and administration, management and reference currencies. Each portfolio has transaction fees. a strategic asset allocation founded on long-term objectives and a tactical Correspondent brokerage fees and asset allocation that is continually settlement fees, together with account adapted to meet changing economic maintenance and third-party custody and financial-market conditions. fees, are charged on top. Classic multi-assets mandates cover all asset classes and can be managed No custody fee is charged for deposits using either direct investments such as on accounts used to settle discretionary specific securities or other financial mandates. instruments, traditional or alternative funds or a combination of both.

ASSETS (IN EUR) ANNUAL RATE

CONSERVATIVE MODERATE BALANCED DYNAMIC UP TO 3,000,000 1.20% 1.25% 1.25% 1.35% UP TO 5,000,000 1.10% 1.15% 1.15% 1.25% UP TO 10,000,000 1.05% 1.10% 1.10% 1.20% UP TO 15,000,000 0.90% 0.95% 0.95% 1.05% UP TO 25,000,000 0.80% 0.85% 0.85% 0.95% ABOVE ON REQUEST

The annual rate is an effective rate based on the average end of month portfolio values at market value.

A 0.25% surcharge is levied on classic Other forms of discretionary mandates multi-assets mandates with strong such as flexible multi-assets, single asset investment constraints, which would class, customised are also available. require particular care and attention Please contact your relationship for their implementation. manager should you require any additional information. 10 PRIVATE BANKING – FEE SCHEDULE

ADDITIONAL INFORMATION

ADDITIONAL FEES AND TAXES • VAT • Fees from our sub-custodians and for WHERE APPLICABLE • Taxes the management of this network • Margins on foreign-exchange and Surcharge of 0.25% for physical deposits precious metal transactions from 0.10% of precious metals or securities to 1.50%, depending on the transaction • Surcharge of 1.50% for metals accounts amount, but irrespective of the in gold (XAU), silver (XAG), platinum currency pair or the precious metal (XPT) and palladium (XPD) • Margin (including the applicable • Cash and security transfers – please refer execution fees) of 10bps to 100bps on the to the Addendum to the Fee Schedule buy/sell quote when subscribing/ • Any kind of third-party fees, unless redeeming units of eligible funds on otherwise stipulated. the secondary market (supplementary information upon request) • Fees for physical deliveries

CLASSIFICATION OF MARKETS The term “International Markets” at The term “Emerging Markets” at present covers the following markets: present covers the following markets:

Argentina, Australia, Austria, Belgium, Bahrain, Bangladesh, Bulgaria, Chile, Brazil, Canada, Cyprus, the Czech China, Colombia, Croatia, Egypt, India, Republic, Denmark, Estonia, Finland, Jordan, Lebanon, Morocco, Oman, France, Germany, Greece, Hong Kong, Pakistan, Palestine, Peru, Qatar, Hungary, Indonesia, Ireland, Israel, Romania, Saudi Arabia, Slovakia, Italy, Japan, Kuwait, Latvia, Lithuania, Slovenia, Sri Lanka, Tunisia, Ukraine Luxembourg, Malaysia, Mexico, the and Vietnam. Netherlands, New Zealand, Norway, the Philippines, Poland, Portugal, Russia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, United Kingdom and United States.

Markets not featuring on the two The lists above may be amended at lists above are subject to a special fee any time without notice, depending schedule. Please contact your on prevailing market conditions. relationship manager should you require any additional information. PRIVATE BANKING – FEE SCHEDULE 11

OTHER SERVICES We also offer an extensive array of other services, ranging from asset management to wealth management in its broadest sense. CHARGED In this respect, these additional services on offer would include SEPARATELY services such as: NON-EXHAUSTIVE LIST

PHILANTHROPY

Advice on charity and philanthropy Ceres umbrella foundation Setting up a stand-alone foundation

WEALTH ARCHITECTURE

Family Office Services Wealth planning

CUSTODY BANK AND FUND ADMINISTRATION SERVICES (ASSET SERVICING)

Wire transfers Credit cards and card guarantees Bank drafts issuance and cheque collection Credit solutions and guarantees Class action mandates Tax reclaim and relief Private fund structures Ancillary private equity services

SPECIALISED REPORTING

Performance analysis Asset statement and transactions STAR report (Strategic Asset Reporting)

DISCLAIMER This brochure sets out the aggregated costs and charges corresponding to each type of investment services available to retail and professional clients. Where applicable, the client may request an itemised breakdown of costs and charges related to the investment services (to be) provided to them. The prices indicated here are those applicable at the time of publication. This brochure is intended for information only and not as a recommendation, offer or solicitation of an offer in relation to any investment service or financial instrument.

The information contained in this brochure is confidential and may be read and/or used only by the intended recipient. Pictet & Cie (Europe) S.A. is not liable for the use, transmission or modification of the content of this document. Therefore, any form of reproduction, copying, disclosure, modification and/or publication of the content is under the sole responsibility of the addressee of this document.

This document has been issued by Pictet & Cie (Europe) S.A., a company incorporated under Luxembourg law, authorised and regulated by the Luxembourg Financial Authority, Commission de Surveillance du Secteur Financier (CSSF).

The German Branch of Pictet & Cie (Europe) S.A. is supervised by CSSF and the German Financial Authority Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). All rights reserved. Copyright 2021. BP adfeeDEUen_v1.4a_01062021