Page 63 - ASCOT GROUP COMPLETE DOCUMENT (2)

The Companies

Ascot Life Limited

This will be set up as an Isle of Man insurance company with a full class 1 & 2 licence (linked long term and other
long term insurance), issued by the Isle of Man Financial Services Authority (‘IoMFSA’).

Ascot International Limited & Ascot International (Bermuda) Limited

These are the companies required to establish a Fund offering in Bermuda.

Ascot Fiduciaries Limited

In a number of our target markets, it will be preferred if the assets are held in the name of a trust, foundation or
company for investment purposes. We will be establishing a dedicated company to look after these aspects of
our client’s portfolio.

Ascot Investment Managers Limited

This entity is required for the Isle of Man operation to be able to select and manage the underlying assets for the
Bermuda Funds, and to carry out other management and compliance functions on them.

Ascot Services Limited

This is the group company that provides all services to the other group companies. All staff will be employed by
AS, and it will hold all leases, rental agreements and facilities etc. After launch it will be funded by a service
charge levied on the income producing entities. By having all staff centrally employed it is much easier to
demonstrate cover at all times, without having to have contracts with each individual entity. No regulatory costs
are involved on this entity.

Ascot Financial Adviser

Our preferred option in this respect is to purchase an existing entity and we have identified a suitable candidate
to fulfil this role, based in Mauritius. It is an authorised adviser with an open advice licence issued by the
Mauritius monetary authority. It is anticipated that this entity will be used in conjunction with Felix (the Robo
Planner) when additional advice is required (in areas where it is regulatorily able to do so). It will also be used
to review non- standard responses generated using Felix.