Public Disclosures

STATEMENT ON THE UK STEWARDSHIP CODE

Eighteen48 Partners Limited’s (the “Company”) approach in relation to engagement with issuers and their management, is determined on a global basis.A consistent global approach is taken to engagement with issuers and their management in all of the jurisdictions in which the Company invests and, consequently, the Company does not consider it appropriate to commit to any particular voluntary code of practice relating to any individual jurisdiction and feels that the Code is not appropriate to the Company’s business model.

However, whilst the Company has not made a formal commitment of compliance with the Code, its alternative investment strategy, is generally supportive of the spirit and aims of good stewardship as contained within the Code.As such, in practice, the Company would take into consideration the principles as set out in the Code.

This Statement is reviewed annually and updated where necessary to reflect changes in circumstances and actual practice.Should the Company’s position change we will review our commitment to the Code and make appropriate disclosure at that time.For further details on any of the above information please contact the Company’s Compliance Officer.