Correction of key information documents (KIDs).

Date of publication: October 20, 2025

Value Square Fund NV wishes to inform its investors that an erroneous statement was included in the KIDs (Key Information Documents) published on February 17, 2025 for some share classes of the sub-funds:

• Value Square Fund - Equity Selection and
• Value Square Fund - European Small Caps PE Factor.

These KIDs stated that no performance fee ("performance fee") was applied, even though the sub-funds in question are in principle subject to a performance fee. In practice, no performance fee has been charged in recent years, but this information should have been correctly stated in the expense report.

We have meanwhile:

• Corrected the error in the KIDs; the corrected versions were published on Oct. 23, 2025.
• Notified the Financial Services and Markets Authority (FSMA).
• Conducted an internal review to ensure this cannot happen again in the future.

Investors who subscribed to the relevant share classes during the relevant period (as of February 17, 2025) were contacted directly. Our analysis shows that no investor was financially disadvantaged, as no performance fee was charged during the period when the erroneous KIDs were available.

Value Square Fund NV sincerely apologizes for this inaccuracy and thanks its investors for their trust and understanding.

For more information, contact us at info@value-square.be or by phone at +32 9 241 57 57.