PORTFOLIO MANAGEMENT - FEE FOR THE FIRST ACQUISITION OF SECURITIES

One-time investments

Minimum investment: 5,000 €

Strategy
Amount invested	Conservative ESG	Balanced ESG	Dynamic ESG
up to € 49,999.99	1.50%	2.50%	3.00%
€ 50,000 to € 199,999.99	1.50%	2.00%	2.00%
€ 200,000 to € 499.999,99	1.00%	1.50%	1.50%
€ 500,000 € to € 999,999.99	1.00%	1.00%	1.00%
€ 1 million and above	0,50%	0,50%	0,50%

(Calculated as a percent of the investment, paid in full and in advance. A 4% fee will be charged on each additional payout if it exceeds the invested amount and is beyond what was contractually stipulated.).

Regular investing

Minimum monthly investment: €30

Minimum target amount: € 1,800 €

B1) Fee for the first acquisition of securities - one-off fee

Amount invested	Conservative ESG	Balanced ESG Real Estate	Dynamic ESG
€ 1,800 to € 19,999.99	2.0 %	2.8 %	3.5 %
€ 20,000 to € 29,999.99	1.8 %	2.4 %	3.0 %
€ 30,000 to €49,999.99 €	1.6 %	2.0 %	2.5 %
€ 50,000 and more	1.4 %	1.6 %	2.0 %

B2) Fee for the first acquisition of securities – paid on an ongoing basis

Investment amount	Conservative ESG	Balanced ESG Real Estate	Dynamic ESG
from €1,800	3.0 %	3.5 %	4.5 %

B3) Fee for the first acquisition of securities – settled from each payment

Conservative ESG

Balanced ESG

Real Estate

Dynamic ESG

5.0 %

Capitalized terms have the meanings agreed in the Terms and Conditions. The following rules apply to the calculation of the fee for the first acquisition of securities under above points A) and B) in respect of both one-time and regular investing:

1. The fee for the first acquisition of securities, specified in points A), B1), and B2), will be calculated as the relevant percentage of the investment amount agreed in the Portfolio Management Agreement (as concerns regular investing, the investment amount is the target amount); the percentage is defined for the investment range under which the investment amount falls according to the first column of the tables specified in points A), B1), and B2) respectively, for the applicable selected investment strategy under the second or the third/fourth/fifth column of the table specified in points A), B1), and B2) respectively for one-time or regular investing.

2. The fee for the acquisition of securities settled from each payment and specified in point B3) will be calculated as the relevant percentage of the actual investment credited to PI´s account, designated for the applicable selected investment strategy under the first or the second/third/fourth column of the table specified in point B3).

3. Where the contractually agreed investment amount (or the target amount in case of regular investing) is met and the existing Client transfers, without concluding an amendment to the relevant portfolio management agreement for an investment amount (or the target amount in case of regular investing) increase, another payment on the basis of the agreement, each such payment will be subject to the fee for the acquisition of securities in the amount of 4% except for the fee for the acquisition of securities settled from each payment as specified in point B3).

4. The fee for the first acquisition of securities specified in points A) and B1) is payable as onetime payment in full in advance. The fee for the first acquisition of securities under point B2) shall be settled on an ongoing basis from each payment made by the Client, applying the 50:50 ratio (it means that 50% of each payment made by the Client will be used to settle the fee and the remaining 50% will be invested) until its full settlement.

5. Fee amounts may vary, depending on what has been agreed with the Client.

6. The fee for the first acquisition of securities is the payment for the first acquisition (purchase) of securities for the Client´s managed portfolio and covers transaction costs. The Client acknowledges that this investment service is provided to them in full and they fully benefit from it at the moment a security is credited to the Client´s Client Account and therefore the fee for the first acquisition of securities is not refundable. This fee does not cover investment advice services.

Management fee

Regular investing 1.0 % p.a.**

One-time investing 1.0 % p.a.

Portfolio management fees are calculated on a daily basis and billed at the end of each calendar quarter. The portfolio administration and management is an investment service provided on an ongoing basis throughout the term of the Agreement. Applies to all investment strategies.

Fees include charges for investment advice and to cover portfolio management costs associated with the acquisition and sale of financial instruments and securities, except for the first acquisition of securities for the managed portfolio and a real estate investment strategy. In addition to the first acquisition of securities, a fee amounting to 5% of the sales volume will be charged for the sale of Partners Fond real estate investments, ISIN- SK3000001238.

** Real estate investment strategy: no management fee is charged for investing into PARTNERS Fond real estate investments, ISIN- SK3000001238, as part of a real estate investment strategy.

Fee for selling Partners Fund real estate investments, ISIN SK3000001238 - the fees listed in the table below will be charged.

Number of years since the acquisition of securities	Fee amount
Sale in the 1st year	3%
Sale in the 2nd year	2%
Sale in the 3rd year	1%
Sale in the 4th and subsequent years	0%

Portfolio management - performance fee

10% of appreciation***

Success fees are charged only if the portfolio outperforms the investment strategy’s previous highest performance for the Client on the date when the fee is assessed, usually atyear-end. Success fees are usually payable as at the last day of the calendar year in respect of which the entitlement to the fee has arisen for PI. Should the investment strategy be terminated for any reason, the fee will be calculated for the date of the strategy’s termination and payable on the same date. The so-called high-water mark will be used for the calculation.

*** Real Estate Investment Strategy – 0% performance fee applies to investments into PARTNERS Fond realitných investícií,

ISIN-SK3000001238

RECEIVING AND TRANSMITTING/ EXECUTION OF ORDERS

Financial instrument acquisition fee

Type of financial instrument	Fee
Securities in qualified investor funds	1.5% of payment1)
Other financial instruments	as agreed with each individual client

1) The minimum amount of an investment into qualified investor fund securities is determined by either the rules of the qualified investor fund or Act 203/2011 on collective investments, as amended, where the Client is aware that the minimum investment amount is the net invested amount after deduction of the fee.

Financial instrument sales fee

Type of financial instrument

Fee

Securities in qualified investor funds

"5% if the fund’s rules do not permit the sale of its securities at the moment when the client instructs them to be sold (such as either the fund does not redeem its securities for a certain period following its inception or suspends payouts from them) 1% if the fund’s rules permit the sale of its securities at the moment when the client instructs them to be sold"

1% if the fund's statute allows the sale of the fund's securities at the moment of submission of the client's instruction

Other financial instruments

as agreed with each individual client

These fees do not include third-party fees. They are specified in relevant third-party documents concerning those financial instruments (for instance, in the Fund Rules, KIID, and/ or the prospectus for the financial instrument concerned). Acquisition of qualified investor fund securities is usually associated with a fixed management fee, exit fee and success fee. In this respect, PI tells Clients that, in the case of some third parties, PARTNERS INVESTMENTS, o.c.p., a.s. may be entitled to a payment for distribution of securities up to 50% of the fixed management fee set out in the rules for the qualified investor fund concerned. Clients will be informed about third-party fees and payment under the preceding sentence, in compliance with Section 73b (3) of Act 566/2001 on securities and investment services and on the amendment of certain laws (Securities Act), as amended, prior to providing an investment service.

NOTES

PARTNERS INVESTMENTS, o.c.p., a.s. will charge Clients only for the fees listed here and no others.

Fee amounts may vary, depending on what has been agreed with the Client.

Service fees in the Fee Schedule are exclusive of statutory value added tax. Whenever legislation applies value added tax to be charged on all or part of fees, it will be added to them at the statutory rate.

You will find a full list of fees for services, including model examples, at www.partnersinvestments.bg/en/documents

Price list