Lombard Odier Investment Managers The best way to benefit from the long term out performance of Small & Mid Caps in the European market. Fund Objectives  The Funds provides access to 90% of listed companies in Europe ex-UK (market cap > EUR 200m)  A too large universe to be ignored – Full of investment opportunities  Objective of +2 to +4% relative out-performance vs. the FT Bottom 10% Small & Mid Cap Index (ex UK) Fund Strategy  Bottom-up - Long only - Focus on our own research  Avoid liquidity traps - Mid to Long term positioning  Bias toward Quality & Mid to long term themes  A very stable management team : two fund managers with more than 20 years of experience each Portfolio Construction  Continental European Focus (no UK)  At least 60% of the assets must be invested in equities issued by companies with a market capitalization below € 4.5bn and listed in Euros  60 to 80 positions - No position above 5% of NAV  Portfolio limits: max 15% relative overweight in a sector, max 30% in one country, max 15% cash A very stable and experienced management team  Xavier Lagrandie, Head Portfolio manager, has 23 years of investment experience and is managing the LO Eurozone Fund since January 2004, when he joined Lombard Odier  Michel Leblanc, Portfolio manager has also 23 years of investment experience. He joined Lombard Odier in 2001, as a Buy-side analyst, before taking his current position in January 2006  Malek Dahmani, Analyst, joined the team in He joined Lombard Odier in LO Funds – Eurozone Small & Mid Caps

Lombard Odier Investment Managers 2 LO Funds – Eurozone Small & Mid Caps LOF EUROZONE SMALL & MID CAPS - FUND DATA & HISTORICAL PERFORMANCE* LOF EUROZONE SMALL & MID CAPS - PRODUCT DETAILS Inception Date Legal Structure SICAV - UCITS Compliant Custodian Bank CACEIS Bank Luxembourg Central Administration CACEIS Bank Luxembourg Investment TermsClass IClass PClass M Management fee0.9% Distribution fee-0.9%- Performance fee--- LiquidityDaily Subs. & redemp. deadlineT-1, 15:00 CET Subs. & redemp. payment dateT+3 Redemption penalties--- Minimum investmentCHF 1'000'000 (or equivalent)EUR 3'000 (or equivalent) Reference currencyEUR ISIN AccumulatingDistributing AccumulatingDistributing AccumulatingDistributing EUR share class LU LU LU LU LU LU Fund Size (mn): EUR 373Equity Pos.: 75Volatility***: 14.0%T.E.***: 4.1%Information Ratio***: -0.87Sharpe Ratio***: 0.36 JanFebMarAprMayJunJulAugSepOctNovDecFundBench** %4.03%0.32% 3.61%4.26% %1.90%-1.05%-1.16%3.42%-3.55%4.49%0.53%2.77%3.47%1.20%1.35%17.13%22.35% %5.36%0.44%-0.94%-6.72%0.32%5.12%1.31%3.43%0.29%2.18%1.22%21.43%24.26% %2.21%-0.14%3.61%-1.45%-3.49%-5.56%-10.52%-8.43%6.73%-2.01%0.25%-20.07%-16.24% %-0.87%9.60%2.17%-7.55%-1.49%5.18%-2.20%7.90%5.20%1.17%9.47%32.87%26.99% Past performance is not a guarantee of future results Since launch %195.34% * Dividend accumulated private client share class, net performance in EUR Inception date ** FT Mid Cap Europe ex UK TR *** Last three years, monthly basisSource: LOIM