Expectations for 2018/2019 and Ambition until 2020/2021

Due to the high level of volatility our results are subject to, extrapolating the previous year's figures in order to forecast the result of the Private Equity Investments segment and Group net income is not useful. Thus, the respective average value of the last five years is used as reference for the forecast of those indicators mentioned.

Valuation scheme “PE Investments segment” and “Group”:
“slight”: +/- 0 to 20%, “moderate”: +/- 20 to 40%, “significant”: +/- > 40%

Valuation scheme “Fund Investment Services segment”:
“slight”: +/- 0 to 10%, “moderate”: +/- 10 to 20%, “significant”: +/- > 20%