As a result of the restructuring of the Fund into a Fund for Mutual Account as per 1 January 2023, from that date there is no longer a Fund entity that withholds dividend tax. Without taking specific actions, the Dutch tax authorities would thus lose their dividend withholding tax claim on the direct result. Therefore, the Fund agreed with the Dutch tax authorities that it would distribute the Fund’s estimated direct result before year-end 2022, so that the Fund can withhold dividend tax on this distribution. On 22 December 2022, the Fund distributed its estimated Q4 distributable result (€ 10.4 million). Based on the final distributable result (€ 9.2 million) in Q4, an amount of € 1.2 million will be settled with the Q1 2023 net realised result, after approval of the 2022 annual report by the Meeting of Investors to be held on 12 April 2023.