Funds valuation

This document is presented for marketing purposes and does not constitute an agreement or an information document required by law.

It should not be relied upon as the sole basis for making investment decisions.

The presented data refer to the value of participation units of the respective Erste FIO sub-funds and the value of participation units of Erste Prestiż SFIO sub-funds and changes in the participation unit values over time. The data are historical and similar performance in the future cannot be guaranteed. The performance figures are not adjusted for the potential tax imposed on the Participant and the charges payable upon the sale or repurchase of participation units by the sub-fund.

The net asset value of some sub-funds may exhibit high volatility, which results from the composition of the portfolio or the portfolio management technique employed. The financial data, description of the risk factors of the sub-funds, and key information document (KID) can be found in the prospectus published in Polish at Erste.pl/TFI/documents and are available from the distributors of Erste FIO and Erste Prestiż SFIO. A summary of investors’ rights can be found in the prospectus (Chapter III, point 4). Some sub-funds can invest more than 35% of their assets in securities issued, guaranteed or underwritten by the State Treasury, the National Bank of Poland, a local administration unit, Member State or OECD member state or an international financial institution of which the Republic of Poland or at least one OECD country is a member. Detailed information about Erste FIO and Erste Prestiż SFIO funds, including the financial data, description of risk factors and information on fees related to participation in the funds can be found in the prospectus and the tables of fees available in Polish on Erste.pl/TFI and from the distributors of the funds.

The rewards of investing in shares are also accompanied by risks. When investing in mutual funds, the participant purchases the units of those funds and not the underlying assets that the fund itself invests in.

A description of the risk factors, financial data and information about fees and charges can be found in the prospectuses, key information documents (KIDs) and schedules of fees and charges available in Polish at Erste.pl/TFI/documents and at Erste fund distributors. For a summary of investors' rights, see the prospectus (Chapter III, sec. 4).

The Funds do not guarantee the achievement of a stated investment objective or a specific investment performance and future returns are subject to taxation, which depends on the personal situation of each investor and which may change over time. Before making an investment decision, the participant should consider the fees associated with the sub-fund and take into account the possible taxation of the investment return. The participant must also take into account the possibility of losing at least part of the invested funds.