Merger of “Climate Transition” into “Tech Solutions” in Carmignac Portfolio

Dear Shareholder,

We would like to thank you for the trust you have placed in us. We are honoured to count you among the shareholders of “Carmignac Portfolio” (the “Company”).

By virtue of your investment in any of the Sub-Funds of “Carmignac Portfolio” indicated below (each, the “Sub-Fund”), this notice is of relevance to you.

We recommend reviewing the notice carefully. If you agree with the notice, no additional action is required from your side at this time. In case of any questions when receiving this notice, please consult your professional adviser.

We would like to inform you that the Board of Directors of the Company has decided to merge the assets and liabilities of the sub-funds Carmignac Portfolio Climate Transition (”Climate Transition”) and Carmignac Portfolio Tech Solutions (“Tech Solutions”).

In this merger, as further explained in this notice, the sub-fund “Climate Transition” will cease to exist, and the current investors of this sub-fund will obtain new shares in the sub-fund “Tech Solutions”. The sub-fund “Tech Solutions” will continue to exist and the current investors of this sub-fund will not be impacted.

This notice is only relevant for you if you are an investor of the sub-funds ”Climate Transition” and/or “Tech Solutions”. This notice is issued and sent to you to provide appropriate and accurate information on the merger to enable you to make an informed judgement of the impact of the merger on your investment.

Without prejudice to notice requirements and free redemption/conversion rights, the merger will be processed automatically, and it is not subject to your prior approval or consent.

Investors in the sub-fund “Climate Transition” are requested additionally to note that, in order for the merger to proceed smoothly, the subscriptions to new shares as well as conversions and redemptions will be suspended after 27 May 2025, as further detailed in this notice.

Should you disagree with the proposed merger, you have a right to request the redemption of the shares you own free of charge as further detailed in this notice.

The merger will take place on 5 June 2025.

Shareholders, who do not accept this merger, have a right to redeem their shares free of charge within thirty (30) days following the publication of this notice.

If you are a Carmignac distribution partner and your clients have questions about this update, please contact your local professional-client representative.

Yours faithfully,

Mark DENHAM
Chairman of the Board of Directors