Side Pockets - April 2021 report SCBADAGIO & SCBMBOND

28 May 2021

As SCB Asset Management Company Limited (SCBAM) previously announced on the closure of SCBADAGIO and SCBMBOND and returned the sale proceeds from the Mirror Fund after deduction of expenses to the unitholders.

SCBAM would like to further update on the Side Pockets reports of 30^th April 2021 of H2O Adagio SP SR and H2O MultiBonds SP I (the Master Funds of SCBADAGIO and SCBMBOND respectively) as follows:

ISIN Code Side Pocket	Name of the Side Pockets in EUR	Date of split	Latest available February 26^th 2021	Variation of estimated valuation SP
FR0013535077	H2O Adagio SP SR	(1 October 2020 ) 8.71	8.60	-1.26%
FR0013535960	H2O MultiBonds SP I	(5 October 2020) 43,471.09	41,895.25	-3.63%

Monthly comments:

April 2021

As communicated last month, negotiations are taking place on the side-pocketed (SP funds) with the aim of liquidating them in the best conditions. The negotiations are ongoing and, under these extraordinary circumstances and in the best interest of unitholders, H2O AM EUROPE has exceptionally decided not to publish the monthly estimated values of the SP funds as of April 30^th.
If the current negotiations come to a conclusion before the end of May, H2O AM will publish the estimated values of the SP before May 31st. In the meantime, please refer to the latest estimated valuations as of February 26^th, 2021.

Source: Side Pockets – April 2021 report as of April 30^th, 2021 from H2O Asset Management.

Please be informed accordingly.
SCB Asset Management Company Limited