FUND FACTSHEET

DNCA ACTIONS SMALL & MID CAP FRANCE

MARCH 2021 SHARE CLASS : A/C (EUR) FUND HIGHLIGHTS ABOUT THE FUND • Invests primarily in equity securities of French small and mid-cap companies Investment Objective • Selects securities using a three-pillar approach: strategic position, financial soundness and quality of the management team The objective of the UCITS is to offer the investor performance that exceeds the CAC Mid & Small (C) index • Regular meetings with the management teams of these companies allows for a full evaluation of a their business models with dividends reinvested, in euros, representative of the • A conviction-based approach securities listed on the French small and mid caps market, • An indicative ex-ante tracking error of max. 7% as compared to the CAC Mid & Small 190 Index on a recommended investment horizon of 5 years. Overall Morningstar Rating1TM ILLUSTRATIVE GROWTH OF 10,000 (EUR) QQQ | 28/02/2021 Morningstar category1TM France Small/Mid-Cap Equity Reference Index CAC MID & SMALL (C) DNR € n Fund 13,911 n Index 14,651 FUND CHARACTERISTICS Legal structure SICAV Share Class Inception 27/10/1995 Valuation Frequency Daily Custodian CACEIS BANK CALENDAR YEAR RETURNS % Currency EUR Cut off time 12:30 CET D-1 AuM EURm 152.9 Recommended investment period > 5 years Investor Type Institutional

n Fund AVAILABLE SHARE CLASSES n Index Share Class ISIN Bloomberg A/C (EUR) FR0000003170 CDCMEDI FP RISK & REWARD PROFILE Lower risk Higher risk Typically lower rewards Typically higher rewards TOTAL RETURNS Fund % Index % RISK MEASURES 1 year 3 years 5 years 1 2 3 4 5 6 7 1 month 3.72 4.40 Fund Standard Deviation 19.29 23.81 19.96 The category of the synthetic risk-return indicator is based 3 months 5.95 8.29 Index Standard Deviation 20.48 24.58 20.53 on historical data. Year to date 5.95 8.29 Tracking error 3.86 3.07 2.53 The Fund investment policy exposes it primarily to the following risks : 1 year 51.25 53.73 - Equity securities risk Fund Sharpe ratio * 2.68 0.11 0.36 - Discretionary management risk 3 years 6.41 8.01 Information Ratio -0.64 -0.17 -0.44 - Capital loss risk 5 years 39.11 46.51 - Interest rate risk Alpha 1.71 -0.37 -0.77 - Credit risk 10 years 107.54 122.38 For more information, please refer to the section detailing Since inception 823.17 861.45 Beta 0.93 0.96 0.96 specific risks at the end of this document. R-squared 0.97 0.99 0.99 ANNUALISED PERFORMANCE Fund % Index % * Risk free rate : Performance of annualised capitalised Eonia over the (Month End) period 3 years 2.09 2.60 ANNUALISED PERFORMANCE 5 years 6.82 7.94 (Quarter end) Fund % Index % 10 years 7.57 8.32 3 years 2.09 2.60 Since inception 9.13 9.30 5 years 6.82 7.94 10 years 7.57 8.32 Since inception 9.13 9.30 PERFORMANCE DATA SHOWN REPRESENTS PAST PERFORMANCE AND IS NOT A GUARANTEE OF FUTURE RESULTS. Some recent performance may be lower or higher. As the value of the capital and the returns change over time (notably due to currency fluctuations), the repurchase price of the shares can be higher or lower than their initial price. The performance indicated is based on the NAV (net asset value) of the share class, and is net of all charges applying to the fund but does not account for sale commissions, taxation or paying agent fees, and assumes that dividends if any are reinvested. Taking such fees or commissions into account would lower the returns. The performance of other share classes would be higher or lower based on the differences between the fees and the entry charges. In the periods where certain share classes are not subscribed or not yet created (inactive share classes), performance is calculated based on the actual performance of an active share class of the fund whose characteristics are considered by the management company as being closest to the inactive share class concerned, after adjusting it for the differences between the total expense ratios (TER), and converting any net asset value of the active share class in the currency in which the inactive share class is listed. The performance given for the inactive share class is the result of a calculation provided for information. Please read the important information given in the additional notes at the end of this document.

06/04/2021 DNCA Actions Small & Mid Cap France SHARE CLASS : A/C (EUR) FEES & CODES PORTFOLIO ANALYSIS AS OF 31/03/2021 All-in-Fee 1.79% Max. Sales Charge 3.00% ASSET ALLOCATION Fund % GEOGRAPHICAL Max. Redemption Charge - Equities 99.3 BREAKDOWN BY Fund % Index % Minimum Investment - Cash 0.7 COUNTRY NAV (31/03/2021) 1,408.25 EUR Total 100.0 France 92.8 95.4 in % of AuM Luxembourg 3.3 1.3 MANAGEMENT TOP 5 HOLDINGS Fund % Netherlands 3.2 3.1 Management Company FP EUR 4.9 Belgium 0.0 0.3 INVESTMENT MANAGERS INTERNATIONAL SA 3.6 Cash & cash equivalent 0.7 0.0 Investment Manager DNCA FINANCE 3.4 SPIE SA -W/I FP EUR 3.4 SECTOR BREAKDOWN Fund % Index % DNCA Investments* specializes in a conviction- Industrials 20.7 17.9 driven investment approach. The firm's experienced SEB 3.3 Consumer Discretionary 16.9 11.6 team develops investment products for private and Total 18.6 Communication services 13.3 11.5 institutional clients. DNCA offers a comprehensive Total number of holdings in portfolio 70 Financials 12.4 15.8 range of funds covering fixed income, absolute return, multi-asset, equity strategies and SRI. Information Technology 11.5 10.1 CAPITALIZATION BREAKDOWN Fund% Index % Health Care 9.0 7.6 * A brand of DNCA Finance. Real Estate 3.7 6.4 < USD 1 Bln 13.4 11.3 Headquarters Paris USD 1 to 3 Bln 21.0 19.8 Materials 3.6 4.3 Founded 1998 > USD 3 Bln 64.8 68.9 Energy 2.9 5.3 Cash & cash equivalent 0.7 0.0 Consumer Staples 2.7 4.5 Utilities 2.5 5.1 Assets Under US $ 32.2 / € 26.3 Management (Billion) (31/12/2020) Cash & cash equivalent 0.7 0.0 MSCI Breakdown Portfolio Managers Valerie Lefebvre is an equity Portfolio Manager/ Analyst specialized in Small Caps (France and across Europe). She is lead PM for DNCA Actions Euro Micro Caps and co-manages DNCA Actions S&M Cap France. She began her career in 1988 and has more than 30 years' experience (Soder-Bail, Ostrum AM, DNCA Finance). Valerie has a masters degree in Management, a DESS in Financial Engineering and the CFAF. She is also a member of the SFAF (Société Française des Analystes Financiers), participating in the Small and Mid-Cap Comission. Daniel Dourmap is an equity Portfolio Manager/ Analyst specialized in Small Caps. He is Lead PM for DNCA Actions Euro PME, DNCA Actions S&M Cap France et DNCA Actions S&M Cap Euro . He is co-manager for DNCA Europe Smaller Companies Fund. He also contributes to the management of DNCA Actions Euro, Fructi Actions France and Ecureuil Investissments. He began his career in 1986 and has more than 30 years' experience (Assurance Banque Populaire, Ostrum AM, DNCA Finance). Daniel holds a DESS Degree in Financial Management, is graduate of the ITB banking institute and the CFAF. He is also a member of the SFAF (Société Française des Analystes Financiers).

INFORMATION Due to active management, portfolio characteristics are subject to change. References to specific securities or industries should not be considered Prospectus Enquiries a recommendation. E-mail [email protected]

06/04/2021 Calculation of performance during periods of share classPortfolio Statistics Morningstar Rating and Category inactivity (if applicable) Volatility Morningstar Rating and Category For periods when certain share classes were unsubscribed or not yet Extent of change of a security or stock, fund, market or index over a © 2020 Morningstar. All Rights Reserved. The information, data, created (the "inactive share classes"), performance is imputed using given period. High volatility is indicative of a significant change in the analyses and opinions ("Information") contained herein (1) include the actual performance of the fund's active share class which has share price, and therefore the risk associated with the security is high. Morningstar's confidential and proprietary information (2) may not be been determined by the management company as having the closest copied or redistributed, (3) do not constitute investment advice (4) are characteristics to such inactive share class and adjusting it based on Information ratio provided solely for informational purposes (5) are not warranted to be the difference in TERs and, where applicable, converting the net asset Indicator of the outperformance of the manager (with respect to the complete, accurate or timely and (6) are drawn from fund data value of the active share class into the currency of quotation of the benchmark), given the additional risk taken by the manager with published on various dates. The information is provided to you at your inactive share class. The quoted performance for such inactive share respect to the same index (fund's tracking error). The higher the value, own risk. Morningstar is not responsible for any trading decisions, class is the result of an indicative calculation. the better the fund. damages or other losses related to the Information or its use. Please Illustrative Growth of 10,000 verify all of the Information before using it and don't make any Tracking error investment decision except upon the advice of a professional The graph compares the growth of 10, 000 in a fund with that of an Measurement of the relative risk taken by a fund with respect to its financial adviser. Past performance is no guarantee of future results. index. The total returns are not adjusted to reflect sales charges or benchmark. The value and income derived from investments can go up or down. the effects of taxation, but are adjusted to reflect actual ongoing fund The Morningstar rating applies to funds having at least 3 years of expenses, and assume reinvestment of dividends and capital gains. If Sharpe ratio history. It takes into account subscription fee, the yield without risk adjusted, sales charges would reduce the performance quoted. The Outperformance indicator of a product with respect to a risk-free rate, and the standard deviation to calculate for every fund its ratio MRAR index is an unmanaged portfolio of specified securities and cannot be given the risk accepted (product volatility). The higher the value, the (Morningstar Risk Adjust Return). Funds are then classified in invested in directly. The index does not reflect any initial or ongoing better the fund. decreasing order by MRAR: first 10 per cent receive 5 stars, the expenses. A fund's portfolio may differ significantly from the following 22,5 % 4 stars, the following 35 % 3 stars, following 22,5 securities in the index. The index is chosen by the fund manager. Alpha % 2 stars, the last 10 % receive 1 star. Funds are classified within A fund's outperformance relative to its benchmark, expressed as a 180 European categories. Risk Measures percentage. It is an indicator of the manager's ability to create value, The risk and reward indicator is shown as a scale of 1 excludingto 7 market effects. Thus, the higher the alpha, the better the representing the levels of risk and rewards in increasing order that fund's performance relative to its benchmark. enables you to assess the potential performance of a fund compared to the risk it represents. The general calculation method of thisBeta regulatory indicator is based on the annualized past volatility of the Measurement of a fund's sensitivity to market movements (as fund, calculated from weekly returns over a five-year period. This represented by its benchmark). A beta of over 1 indicates that the indicator is monitored regularly and may vary. The SRRI levelfund amplifies movements in its reference market on both the upside indicated in this document is the level in force on the date theand downside. Conversely, a beta of under 1 means that the fund document was drawn up. tends to react less than its reference market.

Special Risk Considerations The specific risks involved in investing in the Fund are the following risks : - Equity securities risk - Discretionary management risk - Capital loss risk - Interest rate risk - Credit risk A complete description of these risks is given in the chapter entitled "Main Risks" in the prospectus. This chapter also describes the other risks involved in investing in the Fund. Reference Index The Sub-Fund is actively managed. The Reference Index is used for comparison purposes only. The Delegated Investment Manager remains free to choose the stocks that make up the portfolio in accordance with the Sub-Fund's investment policy.

06/04/2021 Natixis Investment Managers International - a portfolio management company authorized by the Autorité des Marchés Financiers (French -In the E.U. (ex UK and France) Provided by Natixis Investment -In the DIFC Distributed in and from the DIFC financial district to Financial Markets Authority - AMF) under no. GP 90-009, and a public Managers S.A. or one of its branch offices listed below. Natixis Professional Clients only by Natixis Investment Managers Middle limited company (société anonyme) registered in the Paris Trade and Investment Managers S.A. is a Luxembourg management company East (DIFC Branch) which is regulated by the DFSA. Related financial Companies Register under no. 329 450 738. Registered office: 43 that is authorized by the Commission de Surveillance du Secteur products or services are only available to persons who have sufficient avenue Pierre Mendès France, 75013 Paris. Financier and is incorporated under Luxembourg laws and registered financial experience and understanding to participate in financial DNCA Finance, a subsidiary of Natixis Investment Managers, is a under n. B 115843. Registered office of Natixis Investmentmarkets within the DIFC, and qualify as Professional Clients as French asset manager approved by the Autorité des MarchésManagers S.A.: 2, rue Jean Monnet, L-2180 Luxembourg, Grand defined by the DFSA. Registered office: Office 603 - Level 6, Currency Financiers (No. GP 00-030). The distribution of this document may be Duchy of Luxembourg. House Tower 2, PO Box 118257, DIFC, Dubai, United Arab Emirates. limited in some countries. The fund cannot be sold in all jurisdictions; Italy: Natixis Investment Managers S.A., Succursale Italiana (Bank -In Singapore Provided by Natixis Investment Managers Singapore the local supervisory authority may limit the offering and the sale of of Italy Register of Italian Asset Management Companies no(name registration no.53102724D), a division of Ostrum Asset its shares exclusively to certain types of investors. The tax treatment 23458.3). Registered office: Via Larga, 2 - 20122, Milan, Italy. Management Asia Limited (company registration no.199801044D). for the shares or fund units held, acquired or sold depends on the Germany: Natixis Investment Managers S.A., Zweigniederlassung Registered address of Natixis Investment Managers Singapore: 5 status or the tax treatment of each investor, and may change. Please Deutschland (Registration number: HRB 88541). Registered office: Shenton Way,#22-05 UIC Building, Singapore 068808. contact your financial advisor if you have any questions. YourIm Trutz Frankfurt 55, Westend Carrée, 7. Floor, Frankfurt am Main -In Hong Kong Provided by Natixis Investment Managers Hong Kong financial advisor is responsible for ensuring that the offer and the 60322, Germany. Netherlands: Natixis Investment Managers, Limited to institutional/ corporate professional investors only. sale of the shares in the fund comply with the governing national Nederlands (Registration number 50774670). Registered office: -In Taiwan Provided by Natixis Investment Managers Securities laws. The fund may not be offered or sold in the USA, to citizens or World Trade Center Amsterdam, Strawinskylaan 1259, D-Tower, Investment Consulting (Taipei) Co., Ltd., a Securities Investment residents of the USA, or in any other country or jurisdiction where it Floor 12, 1077 XX Amsterdam, the Netherlands. Sweden: Natixis Consulting Enterprise regulated by the Financial Supervisory would be unlawful to offer or sell the fund. This document is provided Investment Managers, Nordics Filial (Registration numberCommission of the R.O.C. Registered address: 34F ., No.68, Sec. 5, for information purposes only. The investment processes and themes 516405-9601 - Swedish Companies Registration Office). Registered Zhongxiao East Road, Xinyi Dist., Taipei City 11065, Taiwan (R.O.C), as well as the portfolio characteristics and interests are valid on the office: Kungsgatan 48 5tr, Stockholm 111 35, Sweden. Spain: Natix license number 2018 FSC SICE No.024, Tel.+886 2 8789 2788. specified date and may be modified. References to a ranking, rating is Investment Managers, Sucursal en España. Registered office: -In the United States Provided by Natixis Distribution L.P. 888 or award are not a guarantee of future performance and fluctuate Torre Colon II - Plaza Colon, 2 - 28046 Madrid, Spain. Boylston St. Boston, MA 02199. Natixis Investment Managers over time. This document is not a prospectus and does not constitute -In France Provided by Natixis Investment Managers International- includes all of the investment management and distribution entities an offer of shares. The information contained in this document may a portfolio management company authorized by the Autorité des affiliated with Natixis Distribution, L.P. and Natixis Investment be updated occasionally and may differ from the information in the Marchés Financiers (French financial Markets Authority-AMF) under Managers S.A. earlier or future versions of this document. For more detailedno GP90-009, and a public limited company (société anonyme) -In Mexico Provided by Natixis IM Mexico, S. de R.L. de C.V., which information about this fund, as well as the charges, expenditure and registered in the Paris Trade and Companies Register under no is not a regulated financial entity or an investment manager in terms risks, please contact your financial advisor to obtain, free of charge, a 329450738. Registered office:43 avenue Pierre Mendès France, of the Mexican Securities Market Law (Ley del Mercado de Valores) full prospectus, a Key Investor Information Document, a copy of the 75013 Paris. and is not registered with the Comisión Nacional Bancaria y de articles of association, half-yearly and annual reports and/or other -In Switzerland Provided by Natixis Investment Managers, Valores (CNBV) or any other Mexican authority. Any products, documents and translations required in your jurisdiction. To find a Switzerland Sàrl. Rue du Vieux Collège 10, 1204 Geneva,services or investments referred to herein that require authorization financial advisory in your jurisdiction, please Switzerlandcontact or its representative office in Zurich, Schweizergasse 6, or license are rendered exclusively outside of Mexico. Natixis [email protected] If the fund is registered in your 8001 Zürich. Investment Managers is an entity organized under the laws of France jurisdiction, these documents may also be obtained free of charge -In the U.K. Provided by Natixis Investment Managers UK Limited, and is not authorized by or registered with the CNBV or any other from the Natixis Investment Managers International officesauthorized and regulated by the Financial Conduct Authority (register Mexican authority to operate within Mexico as an investment (www.im.natixis.com) and the payer agents/representativesno. 190258). Registered Office: NGAM UK Limited, One Carter Lane, manager in terms of the Mexican Securities Market Law (Ley del mentioned herebelow. Please read the prospectus and Key Investor London, EC4V 5ER Mercado de Valores). Any use of the expression or reference Information carrefully before investing. Germany: CACEIS Bank -In Australia Provided by Natixis Investment Manager Australia contained herein to "Investment Managers" is made to Natixis Deutschland GmbH, Lilienthalallee 34 - 36, D-80939 München,Pty Limited (ABN 60 088 786 289) (AFSL No. 246830) and is intended Investment Managers and/or any of the investment management Germany. UK: SOCIÉTÉ GÉNÉRALE LONDON BRANCH, SOCIÉTÉ for the general information of financial advisers and wholesale subsidiaries of Natixis Investment Managers, which are also not GÉNÉRALE SECURITIES SERVICES CUSTODY LONDON, 9th Floor clients only. authorized by or registered with the CNBV or any other Mexican Exchange House 12 Primrose Street, EC2A 2EG London. Belgium: -In Chile Esta oferta privada se inicia el día de la fecha de la authority to operate within Mexico as investment managers. CACEIS Belgium SA, Avenue du Port 86 C b320 B-1000 Brussels. presente comunicación. La presente oferta se acoge a la Norma de France: CACEIS Bank France, 1-3, Place Valhubert 75013 Paris. Italy: Carácter General N° 336 de la Superintendencia de Valores y This document may contain references to copyrights, indexes and STATE STREET Bank S.P.A., Via Ferrante Aporti, 10 20125 Milan ALL Seguros de Chile. La presente oferta versa sobre valores no inscritos trademarks that may not be registered in all jurisdictions. Third party FUNDS Bank S.A, Via Santa Margherita 7, 20121 Milano.en el Registro de Valores o en el Registro de Valores Extranjeros que registrations are the property of their respective owners and are not Luxembourg: CACEIS BANK Luxembourg, 5, allée Scheffer L-2520 lleva la Superintendencia de Valores y Seguros, por lo que los affiliated with Natixis Investment Managers or any of its related or Luxembourg. Netherlands: CACEIS Netherlands N.V., De Ruyterkade 6- valores sobre los cuales ésta versa, no están sujetos a affiliatedsu companies (collectively "Natixis"). Such third party owners i 1013 AA Amsterdam. Singapour: Ostrum Asset Management Asia fiscalización.Que por tratarse de valores no inscritos, no existe la do not sponsor, endorse or participate in the provision of any Natixis Limited, One Marina Boulevard #28-00 Singapore 018989 ; Principal obligación por parte del emisor de entregar en Chile información services, funds or other financial products place of business: 1 Robinson Road #20-02 AIA Tower Singapore pública respecto de estos valores. Estos valores no podrán ser 048542. Republic of Austria: RAIFFEISEN BANK INTERNATIONAL AG, objeto de oferta pública mientras no sean inscritos en el Registro de Am Stadtpark 9, A-1030 Vienna, Republic of Austria. Switzerland: Valores correspondiente. RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, -In Colombia Provided by Natixis Investment Managers S.A. Badenerstrasse 567, P.O. Box 101, CH-8048 Zurich. Oficina de Representación (Colombia) to professional clients for informational purposes only as permitted under Decree 2555 of 2010. Any products, services or investments referred to herein are rendered exclusively outside of Colombia. This material does not constitute a public offering in Colombia and is addressed to less than 100 specifically identified investors. -In Uruguay Provided by Natixis Investment Managers Uruguay S.A., a duly registered investment advisor, authorised and supervised by the Central Bank of Uruguay. Office: San Lucar 1491, Montevideo, Uruguay, CP 11500. The sale or offer of any units of a fund qualifies as a private placement pursuant to section 2 of Uruguayan law 18,627. -In Latin America Provided by Natixis Investment Managers S.A.

06/04/2021