MONTSÉGUR DIVIDENDES  Fund Mainly Invested in European Equities with High Net Returns

ASSET MANAGEMENT COMPANY FACTSHEET I MARCH 2021

Risk and return profile MONTSÉGUR DIVIDENDES  Fund mainly invested in European equities with high net returns. Share classes Low High capitalize (Class C) or distribute (Class D) dividends.

TYPE OF PRODUCT : EUROPEAN EQUITIES advanced equipment required by the global semiconductor industry. With a 90% market share in lithography, ASML is uniquely positioned ISIN code class C: FR0010263574, class D: FR0010271676 in an extremely buoyant market. Efficient capital allocation, profitability Recommended investment horizon: at least 5 years and return to the shareholder through share buybacks characterize Daily valuation ASML, whose business model is exceptional. Launch date 30/12/05 Schneider Electric, meanwhile, is leading the digital transformation in Portfolio managers Marine MICHEL et François CHAULET energy management and industrial automation. 25 billion in revenues, Assistant portfolio manager Léna KAYA Management committee: Ludovic EYT-DESSUS a 15% margin and a rising dividend payout in 2020, the group has balanced positions in terms of geography and end markets. Led by Mr Tricoire, it has built up leadership positions in each of its businesses, Investment Policy which it will aim to consolidate through active external growth and Thanks to favorable macroeconomic indicators, markets were stimu- reinvestment of 5% of its annual sales in R&D. lated by the themes of a recovery in global activity and a slowdown in inflation. The focus on companies benefiting from low interest rates gave way to a reconsideration of more cyclical companies. KEY DATA Integrating the rebound of the indexes thanks to the dynamics, among Performances Comparison index* FUND others, of BMW, Sika, Sanofi and Orange, Montségur Dividendes Monthly performance + 6,42 % + 5,81 % purchased new holdings in ASML and Schneider Electric during their Performance 2021 (YTD) + 8,20 % + 5,60 % pullbacks. Partially realizing the capital gains on Rubis and Nexity, we 1 Y performance + 36,95 % + 23,98 % increased the fund’s exposure to the «post-crisis» segment (Vinci, 3 Y performances + 25,21 % + 2,56 % BNP Paribas, AB InBev) and to groups that can benefit from stimulus 5 Y performances + 45,40 % + 14,13 % programs such as the «Biden Plan», focused on infrastructure and energy (EDP, Schneider Electric, Siemens Energy). NAV as of 31-03-2021 951,73 141,19 € Net assets 45 M € Commentary * STOXX® Europe 600 Net Return (code : SXXR ou ISIN : EU0009658210) The performances presented are net of expenses. ASML is a Dutch company, founded nearly 40 years ago, operating in more than 16 countries and capitalizing 220 billion euros after a 25-year uninterrupted stock market advance. ASML manufactures most of the

1 YEAR PERFORMANCE SECTOR BREAKDOWN Montségur Dividendes + 23,98 % Financial Services 0% Comparison index* + 36,95 % Basic resources 0% Technology 2% Personal & Household Goods 3% Retail 3% 3% 40% Telecommunications Biens et Services de… 3% Banks 3% Media 4% 30% Chemicals 4% Food & Beverage 6% Automobiles & Parts 6% 20% Construction & Materials 7% Real Estate 7% Health Care 7% 10% Utilities 9% Insurance 10% Industrial Goods & Services 11% 0% Energy 11% 0% 10% 20% -10% Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Montségur Dividendes Comparison index*

Past performance is no garantee of future results

PORTFOLIO ANALYSIS SALES BREAKDOWN

18,3 18,0 28,5 % 32,1 % 3,8 % 2,8 % 5,5 % 4,4 % Latin America 4%

Asia 13%

Earnings growth Cash-flow to sales Rest of the World 15% PER 12 M Dividend Yield estimates North America 19% Montségur Dividendes Europe 49% Comparison index* 0% 20% 40% 60%

10 ASSET MANAGEMENT COMPANY FACTSHEET I MARCH 2021

MAIN PERFORMANCE CONTRIBUTORS RISK ANALYSIS BMW 0,63% VIVENDI -0,08% VOLATILITE 1 Y 21,7 % AIR LIQUIDE 0,47% GTT -0,08% TRACKING ERROR 1Y 6,8 % SANOFI 0,41% VEOLIA ENVIR. -0,06% BETA 1Y 1,0 ALLIANZ 0,37% ROYAL DUTCH SHELL - 0,01% ALPHA 1Y -11,7 % NESTLE 0,34% ACTIVE SHARE* 80,8 % * the percentage of fund’s stcok holdings that differs from comparison index.

FUND HOLDINGS Security name Sector (ICB) Quantity Price (€) Perf. 1 M Market Value % ALSTOM Industrial Goods & Services 49 000 42,52 € + 2,9 % 2 083 480 4,6 % ALLIANZ Insurance 9 200 217,05 € + 8,6 % 1 996 860 4,4 % AIR LIQUIDE Chemicals 13 750 139,30 € + 11,7 % 1 915 375 4,2 % SANOFI Health Care 21 000 84,25 € + 11,1 % 1 769 250 3,9 % VIVENDI Media 57 500 28,00 € - 2,0 % 1 610 000 3,6 % TOTAL Energy 39 921 39,78 € + 3,6 % 1 587 858 3,5 % NESTLE Food & Beverage 16 500 95,24 € + 10,1 % 1 571 471 3,5 % ENGIE Utilities 125 000 12,11 € + 0,2 % 1 513 125 3,3 % BNP PARIBAS Banks 29 000 51,88 € + 5,3 % 1 504 520 3,3 % VINCI Construction & Materials 17 100 87,36 € + 1,5 % 1 493 856 3,3 % GAZTRANSPORT & TECHNIGAZ Energie 21 500 68,00 € - 2,3 % 1 462 000 3,2 % MICHELIN Automobiles & Parts 11 200 127,65 € + 6,6 % 1 429 680 3,2 % LVMH Consumer Goods and Services 2 500 568,10 € + 8,2 % 1 420 250 3,1 % AXA Insurance 62 000 22,89 € + 10,0 % 1 418 870 3,1 % ORANGE Telecommunications 135 000 10,51 € + 10,0 % 1 418 175 3,1 % BMW Automobiles & Parts 16 000 88,47 € + 23,7 % 1 415 520 3,1 % SIEMENS Industrial Goods & Services 10 000 140,00 € + 9,4 % 1 400 000 3,1 % NEXITY Real Estate 32 500 42,08 € + 4,0 % 1 367 600 3,0 % SIKA Construction & Materials 5 600 244,11 € + 11,6 % 1 367 039 3,0 % RUBIS Retail 33 000 40,40 € + 6,4 % 1 333 200 2,9 % ROCHE Health Care 4 800 276,17 € + 1,8 % 1 325 594 2,9 % EDP-ENERGIAS DE PORTUGAL Utilities 260 000 4,87 € + 2,6 % 1 266 200 2,8 % VEOLIA ENVIRONNEMENT Utilities 55 000 21,86 € - 2,2 % 1 202 300 2,7 % SCOR Insurance 41 000 29,10 € + 5,9 % 1 193 100 2,6 % UNILEVER PLC Personal & Household Goods 24 500 47,61 € + 10,8 % 1 166 516 2,6 % SCHNEIDER ELECTRIC Industrial Goods & Services 8 800 130,25 € + 4,0 % 1 146 200 2,5 % SIEMENS ENERGY Energie 37 000 30,61 € - 2,0 % 1 132 570 2,5 % ASML HOLDING Technology 1 900 517,00 € + 12,3 % 982 300 2,2 % ICADE Real Estate 15 500 62,35 € + 1,9 % 966 425 2,1 % AB INBEV Food & Beverage 17 000 53,75 € + 13,3 % 913 750 2,0 % ROYAL DUTCH SHELL Energy 54 007 16,80 € - 0,6 % 907 318 2,0 % KLEPIERRE Real Estate 35 000 19,89 € + 1,7 % 695 975 1,5 % Total Equity 43 976 377 97,0 % Cash and monetary UCITS 1 341 154 3,0 % NET ASSETS 45 317 531 100 %

This document is for information purpose only and does not constitute an offer to subscribe for any security. Figures used in this factsheet have been obtained from reliable sources, but cannot yet be guaranteed. For further informations, please refer to the KIID (Key Investor Information Document) available on the website www.montsegurfinance.com 11