Five Key Takeaways Driving Long-Term Value Creation In the equity markets, which continue to experience evolving monetary policies, geopolitical uncertainties, and shifting economic dynamics, investors are increasingly interested in long-term strategies that create value. The CM-AM Convictions Fund Range addresses this need with a distinctive dual-market approach through its high-convictions funds that are CM-AM Convictions Euro and CM-AM Convictions USA. Emphasizing the fundamental approach with proprietary tools, these funds carved out a unique position in the investment landscape. The range offers access respectively to European and U.S. markets through a methodology that supports long-term potential value creation companies while focusing on estimated quality-growth stocks. This investment solution distinguishes itself through five key takeaways: 1. Market Exposure to Mega Trends Based on Convictions The CM-AM Convictions Fund Range aligns with four transformative trends: Innovation1: Encompassing artificial intelligence, digitalization, and technological advancement. For example, AI is driving unprecedented demand for computing power, with data centers potentially requiring more energy, while electric vehicles need twice as many electronic components as traditional cars. Sustainable Economy1: Focusing on the transition to a more sustainable future through infrastructure development and energy transition. This includes growing cable demand from 85 to 140 million kilometers with 40% renewal needs, and significant investment opportunities driven by initiatives like the IRA and Chips act as well as housing renovation in North America. Well-being and Lifestyle1: Capturing evolving consumer behaviors and demographic shifts, particularly in emerging markets where the middle class is expected to grow by 800 million by 2030. This includes significant growth in Asian luxury market share and increasing urbanization, with 1.2 billion additional urban inhabitants expected by 2050. Longevity1: Addressing healthcare advances and demographic changes. According to the WHO, with 1 billion people affected by obesity and 2 billion people expected to be over 60 by 2050, healthcare innovation and medical progress become increasingly critical. These trends serve as performance driver that should be a catalyst for potential Long-Term performance regardless of Short-Term economic fluctuations. With at least 2/3rd2 of portfolios strategically allocated to these themes, both CM-AM Convictions Euro and CM-AM Convictions USA leverage these trends to capture growth opportunities in their respective markets. The investment team’s deep understanding of these secular trends enables them to identify companies well-positioned to benefit from long-term structural changes in the global economy. 2. Quality & Growth The portfolios maintain a disciplined focus on estimated growth and quality stocks, complemented by strategic diversification pockets that enable adaptation to changing market conditions. By identifying companies with estimated sustainable competitive advantages, strong balance sheets, and proven management teams, the funds aim to deliver consistent long-term potential performance. This approach has proven effective across both regions. More specifically, CM-AM Convictions Euro’s resilience during significant market stress underscores the robustness of this strategy. Until today, the fund has effectively navigated the European equity landscape and shown resilience3 during market fluctuations. 3. Proven Track Record Spanning over 20 years, the stable, experienced management team leverages sophisticated proprietary tools developed in-house, combining both qualitative and quantitative criteria underscoring the relevance of the fundamental approach. These tools include the “Radar Tool” to filter the defined universe and identify opportunities based on growth metrics, earnings revisions, and return ratios, and a valuation model that evaluates business models through a standardized DCF approach incorporating balance sheet structure and operational leverage assessments. This model allows to estimate the medium-term upside potential of companies. The approach, applied consistently across both European and U.S. markets under the leadership of Jean-Louis Delhay and Jean-Luc Menard, has attracted ​​€1.325​‌bn2 on CM-AM Convictions Euro and €672m2 on CM-AM Convictions USA since their respectively launch. The longevity of the team and the continuous refinement of their investment process demonstrate their commitment to delivering value to investors through different market cycles. 4. Flexible Strategies Although both funds currently have a large cap bias but they can invest across all market capitalizations depending on market conditions to optimize performance potential and maintain liquidity. This flexibility contributes to effective risk management across the range, as demonstrated by lower volatility profiles than their respective benchmarks3. In particular, until today CM-AM Convictions Euro has showed particular resilience3 during economic downturns, enhancing its defensive profile. This approach allows the portfolio managers to capture opportunities across the market spectrum while maintaining strong risk controls and liquidity management. 5. Clear, Sustainable Approach The range embeds ESG considerations through a comprehensive framework, including a distinctive bonus/penalty system affecting cost of capital calculations. Targeting companies that demonstrate high level of ESG commitment, both funds maintain ESG scores above their respective investment universes while actively monitoring key metrics such as carbon intensity and board gender diversity. This results in a minimum sustainable investment threshold of 30%. CM-AM Convictions Funds Range meets the criteria for SFDR 8 classification4, aligning financial objectives with responsible investment practices. The integration of ESG factors not only aligns with evolving investor preferences but also serves as an additional risk management tool in identifying companies with sustainable business practices. Conclusion CM-AM Convictions Funds Range’s success in navigating various market environments stems from its investment approach and robust risk management framework. By combining exposure to mega trends focusing on estimated quality-growth stocks, while maintaining flexibility across market capitalizations, the funds offer investors access to a differentiated strategy in both European and U.S. markets. The range’s proven ability to adapt to changing market conditions makes it a potential attractive solution for investors seeking long-term value creation through active management. The appeal of the range is particularly relevant in today’s market environment. In European markets, CM-AM Convictions Euro has demonstrated its ability to navigate through varying economic conditions3, while CM-AM Convictions USA captures opportunities in the dynamic U.S. market landscape. Main associated risks: capital loss risk, equity market risk, discretionary management risk, concentration risk, liquidity risk, foreign exchange risk. Jean-Louis Delhay, Chief Investment Officer Jean-Luc Menard, Hoofd van het Convictions-team Further reading on this topic : Convictions funds 1. Sources: Tesla, Alphabet, St Gobain, Eli Lilly, Emerson, STMicroelectronics, Nexans, Alcon, Novo Nordisk, gouv.fr, L’OREAL - World Data Lab, 2023. World Health Organization (WHO), 2024. 2. Source: Groupe La Française as of 31/01/2025 3. Source: Groupe La Française as of 31/01/2025. Past performance is not a guide to future performance. 4. SFDR classification doesn’t guarantee funds’ performance. Disclaimer MARKETING DOCUMENT FOR PROFESSIONAL INVESTORS ONLY WITH REGARD TO THE MIFID DIRECTIVE (2014/65/EU) For a full description of the risks and further information on the strategies and all fees, please refer to the current prospectus and key information document available in English on our website. The policy relating to customer inquiries and complaints implemented by Groupe La Française is available on our website. The asset management company may interrupt the distribution of the fund without notice. Non contractual information considered to be accurate at the date of publication and likely to change over time. Past performance is not indicative of future performance. This non-contractual support in no way constitutes a recommendation, solicitation of an offer, or an offer to buy, sell, or arbitrage, and should not be interpreted as such. The reference to certain securities or financial instruments is provided for illustration purposes only. It is not intended to promote direct investment in these instruments. Crédit Mutuel Asset Management disclaims any responsibility for any alteration, distortion, or falsification of this communication. Any reproduction or modification of this document is strictly prohibited, unless authorized by Crédit Mutuel Asset Management. La Française AM Finance Services, an investment firm approved by the ACPR under number 18673 (www.acpr.banque-france.fr) and registered with ORIAS (www.orias.fr) under number 13007808 on 4 November 2016. Crédit Mutuel Asset Management: 128, boulevard Raspail 75006 Paris. Asset management company approved by the AMF under number GP 97 138. Société Anonyme (public limited company) with share capital of euros 3871680 registered with “RCS de Paris” under number 388 555 021 APE code 6630Z. Intra Community VAT: FR 70 3 88 555 021. Crédit Mutuel Asset Management is a subsidiary of Groupe La Française, the asset management holding company of Crédit Mutuel Alliance Fédérale. Address of the local paying agent: Allfunds Bank SA Calle Estafeta 6- Complejo Plaza de la Fuente, Edificio 3, La Moraleja, Spain; Italy: Allfunds Bank, Via Bocchetto, 6, 20123 - MILANO – Italia.