Warmond, January 31, 2023

Dear Sir / Madam,

We hereby provide you with the semi-annual report DBS2 Factoring BV arrive. This quarterly report concerns the 2nd half of 2022.

General
The past six months were stable with few unusual developments in the factoring world. There are many developments in the news that we are indirectly involved with, such as energy developments, rising interest rates and world politics with Ukraine and Russia. This also has consequences for the creditworthiness of our debtors and the extent to which credit limits are issued.

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