Remuneration Policy

All True Capital Limited staff remuneration (including that of its Directors) is comprised of fixed and variable remuneration. It is the policy of the Firm that fixed and variable remuneration are appropriately balanced and are clearly distinguished for each individual, with clear financial and non-financial criteria used in determining fixed and variable components. The objectives of the financial incentives are to:

• promote the long-term success (both financial and non-financial) of True;

• attract, motivate and retain suitable staff;

• promote sound and effective risk management

True Capital's primary business is acting as AIFM to its funds. As such, it's remuneration policies and practices are designed to ensure that employees are incentivised to manage those funds appropriately. Financial and non-financial criteria used to assess the performance of each employee will differ depending on the seniority and role of each employee. They encompass demonstrated commitment to True's values and ethos, conduct of the employee, and contributions to business performance and/or corporate strategy (including long-term effects).

All decisions in relation to the remuneration of all staff are made and approved exclusively by the Board with no input from external consultants. True's Remuneration Policy is maintained exclusively by its Board.

For the performance year ending 31/03/2025 True paid the following:

• Total fixed remuneration: £4,523,716

• Total variable remuneration: £1,224,850