BUYING FUND SHARES

The investors can submit Registration and Request for buying share, together with all necessary documents attached to the request, each working day. The Registration and Request is filled in a special form prepared by the Company. The form can be obtained directly in the Company business premises, internet site, and the entire branch network of Komercijalna Banka AD Skopje.

If the payment is executed by 24:00 hours on the actual day than the clients are buying shares with price equal to the value of share at the day when they were bought. For payments on non-working days, shares are purchased according to the net value per share on the next business day of valuation (T+1). The selling price is equal to the fund net asset value per share increased by the entry fee as determined in the fund Statute and Prospectus. The shares are issued following the payment of the sale price in full. The payments can be done on the international account of open-end investment fund:

• KB Invest – Balanced at Komercijalna Banka AD Skopje, acc. No. 300000002915662
• KB Invest – Bonds at Komercijalna Banka AD Skopje, acc. No. 300000003236829
• KB Invest – Cash at Komercijalna Banka AD Skopje, acc. No. 300000003236732
• KB Invest – MBI 10 at Komercijalna Banka AD Skopje, acc. No. 300000004065209
• KB Invest – Stocks at Komercijalna Banka AD Skopje, acc. No. 300000004604529
• KB Invest – Gold at Komercijalna Banka AD Skopje, acc. No. 300000004604432

The investors who bought shares, the Company issues a Certificate for buying shares within one (1) day at the address stated in the Request.

MINIMUM AMOUNT OF INVESTMENT

The minimum amount of investment in the fund is 1.000,00 MKD.

The investors have the possibility for making scheduled payments (programmed payments, unequal payments in certain period or investment plan) depending on their needs. By conducting the payments, the clients can achieve better average price for the fund shares (so called cost averaging – given the amount of payment, the clients will be able to buy more shares when price is low and vice versa).

SELLING FUND SHARES

Every investor has the right to exit the fund through redemption of shares. The price, which is equal to the value of single shares, must be paid without fees and expenses, unless they are explicitly stated with the fund Statute and Prospectus.

The buyout of fund shares is done according to price equal to the value of single share determined on the first following day of valuation after the Request is being submitted. All requests submitted after 14:00 hours will be considered as submitted the next working day.

The owners of fund shares at any time can submit a Request for buyout of all or part of the shares in a special form – Request for buyout of shares. The form can be obtained directly in the Company business premises and internet site.

The Company is paying the fund shares not later than seven (7) days after the Request for buyout of shares is being received.

The investor’s who sold their shares, the Company issues a Certificate for buyout of shares within 1 day, and delivers the Certificate in a manner that has been previously agreed with the client.

CONVERSION OF SHARES

The conversion of cash payments into shares is done every working day until 16:00 hours. The net value per unit is the net asset value of the open-end fund divided by the number of units of the Fund on the valuation date.

Investors buy shares in the Fund according to the net value per share on the day of purchase (T), if the funds are paid by 24:00 on a business day. For payments on non-working days, shares are purchased according to the net value per share on the next business day of valuation (T+1). This means that investors buy shares at an unknown price or value.

FEES AND EXPENSES

KB Invest – Balanced

The Company is charging annual management fee in amount of 2,5% of the fund assets value.

The Company, from the fund assets, pays annual fee based on the calculation of fund asset value, by using the following rates:

• Up to 1.000.000.000,00 MKD 0,21%
• From 1.000.000.001,00 – 1.800.000.000,00 MKD 0,19%
• Above 1.800.000.001,00 MKD 0,17%

The fee for issuing shares is calculated on the amount of the payment, by using the following rates:*

• Up to 99.999,00 MKD 3,5%
• From 100.000,00 MKD up to 499.999,00 MKD 3,0%
• From 500.000,00 MKD up to 999.999,00 MKD 2,5%
• From 1.000.000,00 MKD up to 2.999.999,00 MKD 2,0%
• From 3.000.000,00 MKD up to 4.999.999,00 MKD 1,0%
• Above 5.000.000,00 MKD 0,5%

An expense for buyout and payment of shares of the fund (or exit fee) will be charged if redemption is done within 1 year from the moment when the fund shares were bought.

An expense for buyout and payment of shares of the fund is calculated on the entire amount of payment, by using the following rates:

• Up to 1 year 1,00%
• Above 1 year 0,00%

KB Invest – Bonds

The Company is charging annual management fee in amount of 1,5% of the fund assets value.

The Company, from the fund assets, pays annual fee based on the calculation of fund asset value, by using the following rates:

• Up to 100.000.000,00 MKD 0,19%
• Above 100.000.001,00 MKD 0,17%

The fee for issuing shares is calculated on the amount of the payment, by using the following rates:*

• Up to 149.999,00 MKD 1,5%
• From 150.000,00 MKD up to 299.999,00 MKD 1,0%
• Above 300.000,00 MKD 0,5%

An expense for buyout and payment of shares (or exit fee) will be charged if redemption is done within 6 months from the moment when the fund shares were bought.

An expense for buyout and payment of shares of the fund is calculated on the entire amount of payment, by using the following rates:

• Up to 6 months 0,75%
• More than 6 months 0,00%

KB Invest – Cash

The Company is charging annual management fee in amount of 1,0% of the fund assets value.

The Company, from the fund assets, pays annual fee of 0,17% based on the calculation of fund asset value.

There is no fee for issuing shares.

Company does not charge an expense for buyout and payment of shares (exit fee).

KB Invest – MBI 10

The Company is charging annual management fee in amount of 1,5% of the fund assets value.

The Company, from the fund assets, pays annual fee based on the calculation of fund asset value, by using the following rates:

• From 1.000.000.000,00 MKD 0,21%
• From 1.000.000.001,00 – 1.800.000.000,00 MKD 0,19%
• Above 1.800.000.001,00 MKD 0,17%

The fee for issuing shares is calculated on the amount of the payment, by using the following rates:*

• Up to 499.999,00 MKD 1,5%
• From 500.000,00 MKD up to 1.499.999,00 MKD 1,0%
• Above 1.500.000,00 MKD 0,5%

An expense for buyout and payment of shares (or exit fee) will be charged if redemption is done within 1 year from the moment when the fund shares were bought.

An expense for buyout and payment of shares is calculated on the entire amount of payment, by using the following rates:

• Up to 1 year 1,00%
• More than 1 year 0,00%

KB Invest – Stocks

The Company is charging annual management fee in amount of 2,5% of the fund assets value.

The Company, from the fund assets, pays annual fee based on the calculation of fund asset value, by using the following rates:

• From 1.000.000.000,00 MKD 0,21%
• From 1.000.000.001,00 – 1.800.000.000,00 MKD 0,19%
• Above 1.800.000.001,00 MKD 0,17%

The fee for issuing shares is calculated on the amount of the payment, by using the following rates:*

• Up to 499.999,00 MKD 3,5%
• From 500.000,00 MKD up to 999.999,00 MKD 3,0%
• From 1.000.000,00 MKD up to 1.999.999,00 MKD 2,0%
• From 2.000.000,00 MKD up to 2.999.999,00 MKD 1,0%
• Above 3.000.000,00 MKD 0,5%

An expense for buyout and payment of shares (or exit fee) will be charged if redemption is done within 1 year from the moment when the fund shares were bought.

An expense for buyout and payment of shares is calculated on the entire amount of payment, by using the following rates:

• Up to 1 year 1,00%
• More than 1 year 0,00%

KB Invest – Gold

The Company is charging annual management fee in amount of 2,5% of the fund assets value.

The Company, from the fund assets, pays annual fee based on the calculation of fund asset value, by using the following rates:

• From 1.000.000.000,00 MKD 0,21%
• From 1.000.000.001,00 – 1.800.000.000,00 MKD 0,19%
• Above 1.800.000.001,00 MKD 0,17%

The fee for issuing shares is calculated on the amount of the payment, by using the following rates:*

• Up to 499.999,00 MKD 3,5%
• From 500.000,00 MKD up to 999.999,00 MKD 3,0%
• From 1.000.000,00 MKD up to 1.999.999,00 MKD 2,0%
• From 2.000.000,00 MKD up to 2.999.999,00 MKD 1,0%
• Above 3.000.000,00 MKD 0,5%

An expense for buyout and payment of shares (or exit fee) will be charged if redemption is done within 1 year from the moment when the fund shares were bought.

An expense for buyout and payment of shares is calculated on the entire amount of payment, by using the following rates:

• Up to 1 year 1,00%
• More than 1 year 0,00%

*The Company reserves the right to reduce, or entirely release the investor from the obligation for paying entry fee with prior approval from the Board of Directors.

EXCHANGE OF SHARES

The owners of shares may exchange their shares from one fund to another managed by the Company by submitting Request for exchange of shares in accordance with the rules in the Prospectuses that apply to the redemption and purchase of shares. When exchanging shares, the Company charges the difference between the entry fees of the funds between which the exchange is carried out. The Company also charges the difference between the anticipated exit fees if shares are exchanged from a fund with a higher exit fee to a fund with a lower or no exit fee.

Any dissatisfied investor in the open investment funds managed by KB Invest AD Skopje can file a complaint directly at the Company's headquarters every working day during working hours, by post at the address of the Company's headquarters or at the e-mail address info@kbinvest.mk.

Complaints can also be submitted in special form, available at the Company's headquarters and at the following link.

The Company will act on the complaint without delay, and will deliver the answer to the petitioner in writing, depending on the way the complaint was delivered.