IMPORTANT NOTICE TO ALL INVESTORS

This GCIB Multi Asset Special Fund risk disclosure statement is provided to ensure that all prospective investors have a clear and informed understanding of the risks associated with investing in this Fund. At GCIB, we believe that informed investors are empowered investors and it is our responsibility to present these risks transparently before any investment decision is made. We encourage you to consider whether this Fund is appropriate given your financial position, investment objectives, experience, risk tolerance and personal circumstances.

The GCIB Multi Asset Special Fund invests across a broad spectrum of asset classes including equities, fixed income instruments, money market securities, derivatives and select offshore opportunities. This diversified approach is designed to capture growth across market cycles, though it also means the Fund’s value may fluctuate, sometimes significantly in response to prevailing market conditions. The Fund is best suited to investors with a medium- to long-term outlook who can tolerate short-term volatility in pursuit of stronger long-term returns.

GCIB’s investment team applies a disciplined asset allocation framework, actively managing exposure across sectors, issuers and maturities. While we work diligently to manage risk, no investment is without it. The risks outlined in this GCIB Multi Asset Special Fund risk disclosure are inherent to the markets in which the Fund operates, and our role is to identify, monitor and mitigate them on an ongoing basis.

Business Risk
The GCIB Multi Asset Special Fund may be affected by broader economic conditions, including downturns in key sectors, shifts in the regulatory environment and unexpected macroeconomic disruptions. GCIB addresses business risk through deliberate portfolio diversification, spreading exposure across multiple asset classes and income streams so that no single event can disproportionately impact the Fund’s overall performance. This approach reduces earnings volatility and supports more stable, predictable outcomes for our unitholders over time.

Liquidity Risk
Liquidity risk arises when the Fund may not be able to convert investments into cash quickly enough or at a fair price to meet investor redemptions or respond to shifting market conditions, particularly during periods of market stress. GCIB manages this risk proactively by maintaining a meaningful allocation to liquid instruments at all times, setting clear internal limits on exposure to illiquid assets, and employing staggered maturity profiles across the portfolio. Regular liquidity stress tests are conducted to ensure the Fund remains prepared to meet its obligations without being forced into unfavourable asset sales.

Interest Rate Risk
Changes in interest rates affect the value of the Fund’s fixed income holdings and, more broadly, the relative attractiveness of different asset classes. GCIB monitors and manages interest rate risk through ongoing duration analysis, adjusting the portfolio’s sensitivity to rate movements in line with our macroeconomic outlook. Our approach is forward-looking rather than simply reacting to rate changes; we seek to position the portfolio ahead of anticipated shifts where our analysis supports doing so.

Credit Risk
Credit risk is the possibility that an issuer or counterparty fails to meet its financial obligations to the Fund, whether on a bond, a cash deposit, a derivative contract or another fixed income instrument. GCIB takes a rigorous approach to credit assessment. Every investment opportunity is subjected to thorough due diligence, and only issuers that meet our internal standards for financial strength, governance and repayment capacity are considered for inclusion in the Fund’s portfolio. This disciplined screening process is central to how we protect unitholder capital.

Compliance and Regulatory Risk
Compliance and regulatory risk refers to the potential consequences, financial, reputational or operational  of failing to adhere to applicable laws, regulations, prescribed practices or ethical standards. Operating within these bounds is non-negotiable at GCIB. We manage this risk through a dedicated compliance function responsible for developing and enforcing a robust framework of internal policies and procedures. Regular compliance audits are conducted to verify adherence and surface any areas requiring attention, ensuring the Fund continues to operate with integrity and in full alignment with all regulatory requirements.

Operational Risk
Operational risk encompasses the potential for loss arising from human error, system failures, process weaknesses, fraud, inadequate training or unforeseen external disruptions. GCIB takes operational risk seriously and has implemented an integrated risk management framework designed to minimise these vulnerabilities. Key controls include maker-checker authorisation processes, staff training programmes, technology resilience measures and clearly defined escalation procedures. Our objective is to ensure that operational issues, when they arise, are identified quickly and resolved with minimal impact on the Fund and its unitholders.

Inflation Risk
Inflation erodes the real value of investment returns over time, making it one of the most persistent risks facing any long-term investor. When inflation rises faster than investment returns, the purchasing power of both income and capital is diminished. GCIB addresses inflation risk by constructing a portfolio with meaningful exposure to asset classes that have historically delivered returns above inflation over the medium to long term. The portfolio is actively rebalanced as economic conditions evolve, ensuring the Fund remains positioned to preserve and grow unitholder wealth in real terms.

I/We confirm that I/we have carefully read and fully understood the risks set out in this GCIB Multi Asset Special Fund risk disclosure statement and the relevant offering documents. I/We acknowledge that the decision to invest in the GCIB Multi Asset Special Fund is my/our own, made independently and without reliance on GCIB beyond the information provided in the offering documents. I/We accept that professional financial advice should be sought if any aspect of this statement or the associated offering documents is unclear. I/We hereby confirm my/our understanding of the contents of this Risk Disclosure Statement.