Arcano Capital XI ("AC XI") is the eleventh Private Equity investment program launched by Arcano. It has been invested through secondary market transactions and direct co-investments in companies, limiting commitments in primary to a maximum of 30% of the fund. Since 2016, AC XI has exposed its investors to over 400 predominantly mid-sized private companies. These investments are located in Europe and the United States, and in diverse sectors including healthcare, services, consumer and technology.

*The calculation of expected returns or target returns has been carried out by reference to the historical net performance of similar investment vehicles managed by Arcano. Furthermore, both negative and positive performance scenarios have been analysed in order to carry out this calculation.

The financial instruments to which the expected returns or investment objectives refer may involve, among others, the following risks: market risk, credit risk, valuation risk. Past performance is no guarantee of future performance.