Paragon Australian Long Short Fund – FY22 Distribution, Taxation (AMMA) and Annual NAV (Periodic) statements

Distribution, Tax (AMMA) and Annual NAV (Periodic) statements for the financial year ended 30 June 2022 (FY22) were issued to investors today, as 3 separate emails from Link Fund Solutions (Administrator). Investors should retain these statements for their records, and forward them to their tax advisers for preparation of their income tax returns. Distributions are payable on assessable income of the Fund and will vary from year to year. The distribution amount paid for FY22 is 13.4c per unit, equating to ~8% of the cumulative exit-price at 30 June 2022 ($1.7884). Investors received a re-investment of units for the equivalent value of their distribution at the ex-distribution mid-price ($1.6571), issued effective 1 July 2022. The number of units issued to investors is reflected in the distribution statement unless a cash distribution was paid (payment date 27 July). The annual NAV (periodic) statement captures the full financial year’s performance (increase or decrease of your investment net of all fees charged), along with any other transactions (applications or redemptions) over the period. Your closing balance reflects the value of your investment at redemption value at 30 June 2022, inclusive of any distribution payment to be made. The amount disclosed as ‘fees and costs deducted from your investment’ is based on an overall average Indirect Costs Ratio (ICR) of 6.4%, for expenses and fees incurred by the Fund for the financial year. FY22 ICR comprises as follows:

• 1.5% Base management fee
• 0.25% Expenses recoveries fee
• 4.4% Performance fee (earned for 1^st half of FY22)
• 0.25% Borrowing costs

Performance returns quoted in monthly updates (and on our website) are always inclusive of distributions paid. Unit pricing is generally quoted ex-distribution unless stated otherwise.