Target Market Determination (v3) dated 1 May 2024

The Target Market Determination (TMD) for the Paragon Australian Long Short Fund has been revised effective from 1 May 2024. The TMD – which forms part of Paragon’s overall Design and Distribution Obligations (DDO) and required under section 994B of the Corporations Act 2001 – sets out the class of consumers (retail clients) for whom the Product (including its key attributes) would likely be consistent with – based on their likely objectives, financial situation and needs. ie. ‘Target Market‘, which Paragon has determined and summarised as follows: Target Market Summary: This Product is intended for use as a satellite or minor allocation within a consumer’s overall portfolio, who seeks capital growth over the long term, has a high to very high risk and return profile for this component of their portfolio, and is unlikely to require frequent access to capital. The TMD does not form part of the Fund’s PDS but is recommended to be read in conjunction with the PDS. The latest PDS is currently being revised to align with the TMD, planned to be reissued on 6 May 2024. Investors are reminded that they should carefully read the Fund’s PDS and TMD and obtain their own financial and taxation advice prior to investing in the Fund.