License notice - Berenberg

MSCI

Source: MSCI. The MSCI information may only be used for your internal use. May not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an "as is" basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each of her person involved in or related to compiling, computing or creating any MSCI information (collectively, the "MSCI Parties") expressly disclaims all warranties (including, without limitation. any warranties of originality. accuracy. completeness. timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)

Qontiqo Index GmbH, STOXX Ltd.

The DAX and STOXX Indeces (the “Index”) and the data and trademarks comprised therein are provided by STOXX Ltd., or Qontigo Index GmbH, under a licence. STOXX Ltd. and Qontigo Index GmbH have not been involved in any way in the creation of any reported information and do not give any warranty and exclude any liability whatsoever (whether in negligence or otherwise) – including without limitation for the accuracy, adequateness, correctness, completeness, timeliness, and fitness for any purpose – with respect to any reported information or in relation to any errors, omissions or interruptions in the Index or its data. Any dissemination or further distribution of any such information pertaining to STOXX Ltd. or Qontigo Index GmbH is prohibited.

IHS Markit (iBoxx)

The index referenced herein (the “Index”) is the proprietary property of Markit North America, Inc., Markit Indices GmbH and/or its affiliates (“Index Provider”) and has been licensed for use in connection with the fund (or other investment vehicle) or securities referenced herein (“Fund”). Each party acknowledges and agrees that the Fund is not sponsored, endorsed or promoted by the Index Provider. The Index Provider makes no representation whatsoever, whether express or implied, and hereby expressly disclaim all warranties (including, without limitation, those of merchantability or fitness for a particular purpose or use), with respect to the Index or any data included therein or relating thereto, and in particular disclaim any warranty either as to the quality, accuracy and/or completeness of the Index or any data included therein, the results obtained from the use of the Index and/or the composition of the Index at any particular time on any particular date or otherwise and/or the creditworthiness of any entity, or the likelihood of the occurrence of a credit event or similar event (however defined) with respect to an obligation, in the Index at any particular time on any particular date or otherwise. The Index Provider shall not be liable (whether in negligence or otherwise) to the parties or any other person for any error in the Index, and the Index Provider is under no obligation to advise the parties or any person of any error therein. The Index Provider makes no representation whatsoever, whether express or implied, as to the advisability of purchasing or selling Fund, the ability of the Index to track relevant markets’ performances, or otherwise relating to the Index or any transaction or product with respect thereto, or of assuming any risks in connection therewith. The Index Provider has no obligation to take the needs of any party into consideration in determining, composing or calculating the Index. No party purchasing or selling the Fund nor the Index Provider, shall have any liability to any party for any act or failure to act by the Index Provider in connection with the determination, adjustment, calculation or maintenance of the Index. The Index Provider and its affiliates may deal in any obligations that compose the Index, and may, where permitted, accept deposits from, make loans or otherwise extend credit to, and generally engage in any kind of commercial or investment banking or other business with the issuers of such obligations or their affiliates, and may act with respect to such business as if the Index did not exist, regardless of whether such action might adversely affect the Index or Fund.

J.P. Morgan

Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan´s prior written approval. Copyright 2018, J.P. Morgan Chase & Co. All rights reserved.

ICE Data Indices, LLC

Source ICE Data Indices, LLC ("ICE Data"), is used with permission. ICE Data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE Data, its affiliates or their respective third party providers shall not be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an "as is" basis and your use is at your own risk. ICE Data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend ICE Indices and ICE Data, or any of its products or services.

Swiss Exchange AG

Swiss Exchange AG" ("SIX Swiss Exchange") is the source of the SARON and the data contained therein. SIX Swiss Exchange has not been involved in any way in the in the preparation of the information contained in this report. SIX Swiss Exchange makes no warranty of any kind and disclaims all liability (whether in negligence or otherwise) in respect of negligence or otherwise) in respect of the information contained in this report - including, but not limited to, the accuracy including, but not limited to, the accuracy, adequacy, correctness, completeness, timeliness and suitability for any purpose - and for any errors, omissions or interruptions in the [a corresponding index interruptions in the SARON or its data. Any dissemination or transmission of the information originating from SIX Swiss Exchange is prohibited.

EONIA

Euribor® and Eonia® are registered trademarks of EMMI a.i.s.b.l.

ESTRON

The ECB is the source of the data shown.

(These data have been changed.)

EURIBOR

Euribor® and Eonia® are registered trademarks of EMMI a.i.s.b.l.

SOFR

SONIA

Source ICE Data Indices, LLC ("ICE Data"), is used with permission. ICE Data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE Data, its affiliates or their respective third party providers shall not be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an "as is" basis and your use is at your own risk. ICE Data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend SONIA reference rates, or any of its products or services.

S&P

Copyright © 2022, S&P Dow Jones Indices LLC. Reproduction of S&P Indices in any form is prohibited except with the prior written permission of S&P. S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such information. S&P Disclaims any and all express or implied warranties, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use. In no event shall S&P be liable for any direct, indirect, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with subscriber’s or others’ use of S&P Indices.

HFR (Hedge Fund Research)

The HFR Indices are being used under license from Hedge Fund Research, Inc., which does not approve of or endorse any of the products or the contents discussed in this these materials.

Source: Hedge Fund Research, Inc.

www.HFR.com

Fitch Solutions

Fitch Solutions’ Products, namely credit ratings or reports rely on factual information received from issuers and other sources. Fitch Solutions cannot ensure that all such information will be accurate and complete. Further, ratings are inherently forward-looking, embody assumptions and predictions that by their nature cannot be verified as facts, and can be affected by future events or conditions that were not anticipated at the time a rating was issued or affirmed. The information in this material is provided “as is” without any representation or warranty. A Fitch Solutions credit rating is an opinion as to the creditworthiness of a security and does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. A Fitch Solutions report is not a substitute for information provided to investors by the issuer and its agents in connection with a sale of securities or as a form of prospectus. Ratings may be changed or withdrawn at any time for any reason in the sole discretion of Fitch Solutions. The agency does not provide investment advice of any sort. Ratings are not a recommendation to buy, sell, or hold any security. ALL FITCH CREDIT RATINGS AND REPORT ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS AND THE TERMS OF USE

Standard & Poor’s

Reproduction of any information, data or material, including ratings (“Content”) in any form is prohibited except with the prior written permission of the relevant party. Such party, its affiliates and suppliers (“Content Providers”) do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such Content. In no event shall Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use of the Content. A reference to a particular investment or security, a rating or any observation concerning an investment that is part of the Content is not a recommendation to buy, sell or hold such investment or security, does not address the suitability of an investment or security and should not be relied on as investment advice. Credit ratings are statements of opinions and are not statements of fact.

Moody’s

The data is provided “as is” without warranty of any kind, and Moody’s and its licensors expressly disclaim all representations and warranties with respect to the data, express or implied, and whether oral or written, including without limitation (a) any warranty as to the accuracy, timeliness, completeness, adequacy or the results to be obtained from the use of the data (b) the implied warranties of non-infringement, merchantability and fitness for a particular purpose even if Moody’s has been informed of such purpose, and (c) any warranties arising by implication or from course of performance, course of dealing, or usage of trade, and neither Moody’s nor its licensors shall be liable to client or to any third party with respect to any of the foregoing. Client shall not make any statement respecting the data that is contradictory to or inconsistent with the foregoing statements.