Article 27(e): Approval of the Authority and Consent of Unitholders to Fundamental

e) The term “fundamental change” means:

1) A significant change in the fund’s purposes, nature or class;

2) A change which may have a material adverse effect on the unitholders or their rights in relation to the closed-ended fund;

3) A change which alters the risk profile of the fund; or

4) The voluntary withdrawal of a Fund Manager from its position as the fund manager.

5) It usually causes unitholders to reconsider of their subscriptions in the closed-ended fund.

6) A change which results in any increased payments out of the assets of the closed-ended fund to a fund manager or any member of the fund board or an affiliate of either.

7) A change which introduces any new type of payment out of the assets of the closed-ended fund.

8) A change that materially increases other types of payment out of the assets of the closed-ended fund.

9) Change in the maturity date or termination of the closed-ended Fund.

10) Increase the total value of the ether fund assets by accepting cash or in-kind contributions, or both.

11) Any other cases determined by the Authority from time to time and reported to the Fund Manager.