Report mensile

Younited Italy fund

These documents are prepared for professional investors. They are designed exclusively for information purposes. They do not constitute a contractual element, nor an offer or an incentive for investment or an
offer to buy or personal advice. They can not be considered a solicitation or canvassing. Subject to compliance with its obligations, Younited S.A. will not be liable for the financial consequences of any nature whatsoever
resulting from the investment.

Data contained in these documents are not contractual or certified. Responsibility for Younited can not be held by a decision taken on the basis of this information. The estimates and
forecasts of default rates and performance are the result of simulations carried out in good faith by Younited S.A. for information only. They are based on various scenarios selected by Younited on the estimated
borrowers when they were made and historical data in no way prejudices the future evolution of the actual performance of obligations rate defaults. The units are subject to a private placement reserved for
professional investors within the meaning of Article L,411-2 of the French Monetary and Financial Code. 

The general regulations and the supplementary regulations of the SPV Younited are provided to subscribers prior to the subscription and available on request.

Subscribers must consider the degree of exposure to different risks in terms of their overall allocation and their individual situation. They can also see if they consider it necessary, their own, legal advice, financial, tax, accounting or other professional.