Arcano Capital XII ("AC XII") is the twelfth Private Equity focused investment program launched by Arcano. It centers around investing at least 50% of the program through primary commitments, and the remainder through secondary market transactions and direct coinvestments in companies, the latter representing at most 20% of the program. AC XII seeks to complete investments in buyout funds in the middle market segment in Europe and the United States, with flexibility to invest alongside managers focused on larger transactions, as well as in growth capital and special situations. The objective is to invest alongside managers with a proven ability to improve companies operationally, seeking stability in periods of economic uncertainty.

*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.