Important Notice

Dear Investor,

We would like to inform you of an important decision taken by the Board of Directors of the Alken Fund with respect to the Sub-Fund Alken Small Cap Europe.

Over recent months, the Sub-Fund has experienced sustained and strong investor interest, reflecting the continued traction of the strategy. Given the liquidity profile and capacity characteristics of the European small-capitalisation equity universe, the Investment Manager considers it essential to manage the pace of inflows carefully to protect the interests of existing shareholders and to ensure that the Sub-Fund can continue to pursue its investment objective in a disciplined and consistent manner.

Accordingly, with effect from 15 January 2026, subscription applications into the Small Cap Europe Sub-Fund will be systematically rejected by the Transfer Agent if they exceed EUR 300,000 per investor per Dealing Day. This measure applies uniformly and without exception to all investors and is intended solely to safeguard the interests of shareholders who have entrusted us with their capital over time. This measure is temporary in nature and will be kept under close and ongoing review by the Investment Manager and the Board. The threshold may be adjusted or lifted when market conditions and the capacity of the Sub-Fund allow.

Please note that this measure applies only to the Small Cap Europe Fund. Other European equity sub-funds within the Alken range, including the European Opportunities Sub-Fund, are not subject to such subscription restrictions and continue to accept subscriptions in the ordinary course. Investors seeking broader capacity within the European equity universe may therefore wish to consider these alternative strategies, depending on their investment objectives.

We believe this approach strikes the right balance between accommodating investor demand and maintaining disciplined portfolio construction in the best interests of the Sub-Fund's shareholders.

Should you have any questions, please contact your usual professional adviser or the Company's Registrar and Transfer Agent, FundPartner Solutions (Europe) SA.

We thank you for your continued trust and support.

Kind regards,

Alken Team