Merger of “Human Xperience” into “Investissement” in Carmignac Portfolio

Dear Shareholder,

We would like to thank you for the trust you have placed in us. We are honoured to count you among the shareholders of “Carmignac Portfolio” (the “Company”).

This document is important and requires your attention. By virtue of your investment in any of the SubFunds of “Carmignac Portfolio” indicated below (each, the “Sub-Fund”), this notice is of relevance to you.

We recommend reviewing the notice carefully. If you agree with the notice, no additional action is required from your side at this time. In case of any questions when receiving this notice, please consult your professional adviser.

We would like to inform you that the Board of Directors of the Company has resolved to merge the assets and liabilities of the sub-funds Carmignac Portfolio Human Xperience (“Human Xperience”) and Carmignac Portfolio Investissement (“Investissement”).

In this merger, as further explained in this notice, the sub-fund “Human Xperience” will cease to exist, and the current investors of the sub-fund “Human Xperience” will obtain shares in the sub-fund “Investissement”. The sub-fund “Investissement” and its investors will not be impacted.

This notice is only relevant for you if you are an investor of the sub-fund ”Human Xperience” and/or “Investissement”. This notice is issued and sent to you to provide appropriate and accurate information on the merger to enable you to make an informed assessment of the impact of the merger on your investment.

Without prejudice to notice requirements and free redemption/conversion rights, the merger will be processed automatically, and it is not subject to your prior approval or consent.

Investors in the sub-fund “Human Xperience” should note that their investment has a social sustainable investment objective, aiming at investing solely in socially sustainable investments. Following the merger, their investment will move to “Investissement”, which is an Article 8 SFDR fund promoting environmental and social characteristics. The Sub-Fund invests at least 50% of its net assets in sustainable investments but does not have a sustainable investment objective. Investors are invited to review the Receiving Sub-Fund’s precontractual SFDR disclosures (annexed to the Prospectus) for further details.

Investors in the sub-fund “Human Xperience” are requested additionally to note that, in order for the merger to proceed smoothly, the subscriptions to new shares as well as conversions and redemptions will be suspended after 8 June 2026, as further detailed in this notice.

Should you disagree with the proposed merger, you have a right to request the redemption of the shares you own free of charge as further detailed in this notice.

The merger will take place on 15 June 2026.

Shareholders, who do not accept this merger, have a right to redeem their shares free of charge within thirty (30) days following the publication of this notice.

If you are a Carmignac distribution partner and your clients have questions about this update, please contact your local professional-client representative.

Yours faithfully,

Mark DENHAM
Chairman of the Board of Directors