RTS 28 Annual Best Execution Disclosure

Albert Bridge Capital LLP (“Albert Bridge” or the “Firm”) is required to provide an annual disclosure regarding
execution venues and brokers that it uses for each asset class as well as information regarding the quality of
execution received. This disclosure covers the following classes of financial instruments that were traded
during the period.

The Firm invests on behalf of its clients, primarily in equities and as such, the instruments traded in the period
were cash equities, equity swaps / cfds and listed single stock options with foreign exchange forwards traded
for hedging purposes. The Firm’s strategy is to trade in highly liquid, all listed stocks primarily in developed
European markets although it may choose to trade certain U.S. stocks.

The Firm continually assesses the list of counterparties it uses with the ultimate goal of obtaining the best
result for our clients. Although the firm has pre-negotiated commissions and it maintains an internal
transaction cost analysis, the commission rates are not always the most important factor when choosing an
executing broker. As a significant proportion of orders are algorithmic in nature (such as VWAP), order size and
likelihood of execution in the manner intended can be more important. All executions are monitored by the
trader with an informal review performed by the portfolio manager.

Client Classification
The Firm has no Retail Clients and it only deals with Professional Clients.

Close Links
There are no close links, common ownership that would give rise to any conflicts of interests with any of the
execution venues or brokers used. Additionally, none of our clients have discretion over the counterparties
used to trade.

Special Arrangements
The Firm does not have any special arrangements in place not does it receive a discount on these services.
Although we may on occasion receive short term market colour from our execution providers, it does not
influence the choice of executing broker.

Changes to Execution Brokers and Venues
Counterparties are continually assessed and the Firm may at its discretion remove or add from the authorized
broker list depending on results of its execution and broker reviews as well as trading requirements.
Albert Bridge has not used RTS 27 reports or RTS 28 reports produced by execution venues or brokers during
the period under review (2017), as these were not available.