The provisions of Article 5f of the amended EU Regulation 833/2014 provide that:

"1 It is prohibited to sell euro-denominated securities issued after 12 April 2022 or units of collective investment undertakings offering exposure to such securities, to any Russian national, any natural person resident in Russia or any legal person, entity or body established in Russia.

2. Paragraph 1 shall not apply to nationals of a Member State or to natural persons holding a temporary or permanent residence permit in a Member State.

A strictly identical measure is adopted by Regulation 398/2022 of 9 March 2022 against Belarusian nationals.

In application of these measures, ELLIPSIS AM informs you that :

In view of the European sanctions against Russia (amended European regulation 833/2014) and Belarus (the European regulation 398/2022), Ellipsis AM is implementing the following measures from 12 April 2022:

Ellipsis AM funds are no longer open to subscription by natural persons of Russian or Belarusian nationality, residents of Russia or Belarus, legal entities established in Russia or Belarus and their branches wherever they are established, except for nationals of a European Union Member State and natural persons holding a residence permit in a Member State.