Russia has committed a violation of international law by invading a sovereign state which we condemn. We believe that this situation calls for restrictions that go beyond the current sanctions imposed by the EU and the US. For our funds we have decided to implement the following investment measures for now:

• While we didn’t own Russian sovereign bonds, we have officially excluded these bonds.

• We have placed buying restrictions on Russian equities and corporate bonds.*

We will continue to closely monitor developments, evaluate and adjust our investment approach if we deem necessary.

Robeco cares deeply about the situation in Ukraine and the humanitarian impact. That’s why we are making a donation to the International Red Cross to support the victims of this crisis.

*There may still be Russian holdings that we are currently not able to sell off due to restricted access to Russian financial markets by international investors, but exposures have been written off to zero value in March 2022 in line with general market practice.