* In its capacity as Depositary, The Bank of New York Mellon (Luxembourg) S.A. has appointed several entities as third-party delegates in relation to the safekeeping of certain assets pertaining to the Standard Life Investments Global SICAVs. This is a comprehensive list of third-party delegates appointed by the Depositary and some, but not all, will be applicable to the Standard Life Investments Global SICAVs.

UCITS and AIF management company remuneration policy

Where a Standard Life Aberdeen group company shown above is the management company of an Alternative Investment Fund ("AIF") or Undertaking for Collective Investment in Transferable Securities ("UCITS") it is acknowledged that the management company has specific obligations to act in the best interests of the AIF or the UCITS it manages and, where relevant, its investors. Accordingly, in the application of the principles set forth and in the award (including deferral and/or clawback) of variable pay for AIF or UCITS management company 'Code Staff' the interests of the relevant AIF or UCITS and its investors and the performance of the relevant AIF or UCITS (taking into account, where relevant, the investment risk of the relevant AIF or UCITS) shall additionally (where relevant) be taken into account.

All the Standard Life Aberdeen group UCITS and AIF management companies are subject to Standard Life Aberdeen's group remuneration policy and further detail on that can be found on the policy page.