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Here is a brief status report as of May 24, 2021.

The audit being conducted by BDO Brazil is still ongoing.

Next steps
The current focus is to finalize the audit while planning for the enhancement of short and long term liquidity in the fund. There is an underlying plan for a full harvest of the Brazilian assets stretching over 2021 and 2022. However, the fund is also working in parallell with a sale of both Brazilian and Latvian forest assets in order to speed up liquidity. It is expected that a final decision on which path to go will be made within 2-3 weeks.

Once the audit is completed a formal wind-up plan will be submitted to the BMA for approval.

Organizational changes
The fund has requested withdrawal of its marketing license in Sweden, which was approved by the local financial authority (Finansinspektionen) on May 10, 2021. The fund intends to request withdrawal of the marketing licenses in Finland and Norway as well in due course. The Director Marcus Jibreus, has resigned from the Board of the fund but remains a Director of J&O Asset Management Ltd. Marcus Ölvestad remains Director of the fund while not being a Director of J&O Asset Management Ltd. The purpose of the move is to clarify roles and responsabilities. As noted in the fund´s prospectus of Aug 2019, investment decisions on behalf of the Fund are made by the Director/s.

While the Fund´s subscriptions, redemptions and official NAV reporting are still suspended, the Investment Manager has decided to publish an informational, non-reliance Valuation Guidance as per December 31, 2020, March 31, 2021 and June 30, 2021, to assist investors in making their assessment of the value of their investment. The expected release dates of these Valuation Guidelines have been delayed due to various reasons including Covid-related issues. The first, as per Dec 31, is expected to be published within days.