SFDR PAI statement report
Reporting year

2023

Summary

Inven Capital, SICAV, a.s. considers principal adverse impacts of its investment decisions on sustainability factors. Inven Capital, SICAV, a.s. had 4 sub-funds as of December 2023 (Sub-Fund A, Sub-Fund B, Sub-Fund C, Sub-Fund D). This statement
presents principal adverse impacts on sustainability factors of all Inven Capital sub-funds.
This statement on principal adverse impacts on sustainability factors covers the reference period from 1 January 2023 to 31 December 2023.
Our policies how we identify and prioritise principal adverse impacts on sustainability factors are described in detail in the document "Inven ESG policy" located on our website www.invencapital.cz in the section Info for investors. This document isupdated on regular basis and serves as a basis for our internal sustainalibility guideline first approved by the Board of Directors in January 2021. Principal adverse impacts are monitored throughout the whole investment process starting with the due
diligence, during the holding period till the exit.
Apart from the mandatory principal adverse impacts indicators we have selected 3 additional indicators that are most relevant for our portfolio companies that predominantly have an software based business models based on software innovation.
Data used in preparation of this Principal adverse impacts statement have been collected directly from the investee companies. They are small or medium sized private companies for which public data are not available.

Description of the principal adverse
impacts on sustainability factors

The principal adverse impact indicators were collected for the second time in the year 2023. Our main goal is to improve the availability of data.
Based on the collected data we do not see any material adverse environmental or social impacts of our portfolio companies. Our companies are small and medium sized start-ups that develop mostly innovative software products and therefore material
adverse impact on environment and society is not expected.

Mandatory PAI indicators
Adverse sustainability indicator
Greenhouse gas emissions

Metric1. GHG Emissions

2. Carbon Footprint

3. GHG intensity of investee companies
4. Exposure to companies active in thefossil fuel sector

5. Share of non-renewable energy
consumption and production

Impact - 2023

Impact - 2022

Change1.1 Scope 1 GHG emissions (tonnes CO2e)

104.7

57.7

82%

1.2 Scope 2 GHG emissions (tonnes CO2e)

74.1

63.3

17%

1.3 Scope 3 GHG emissions (tonnes CO2e)

6 482.4

18 493.0-65%

1.4 Total GHG Emission (tonnes CO2e)

6 661.2

18 614.0-64%

Carbon Footprint (tonnes CO2e / MEUR)

29.9

83.5

-64%

172.0

384.6

-55%

0.0%

0.0%

0.0%

We don't invest into companies
active in this sector.

28.1%

15.4%

12.7%

Based on data from 7 portfolio
companies in 2023.

0.0

0.0%

1.4%

0.0

0.0%

0.0%

0.0

0.0%

0.1%

0.0

0.0%

0.0%

0.0

0.0%

0.0%

0.0

0.0%

1.3%

0.0

0.0%

0.0%

0.0

0.0%

0.0%

0.0

0.0%

0.0%

0.0%

0.0%

0.0%

We don't have investments
close to biodiversity relatedareas.

-0.0

n/a

Not relevant for our portfolio
companies.

0.1

0.1

-17.5%

No action considered as neededin 2024.

GHG intensity of investee companies (tonnes
CO2e / MEUR)
Share of investments in companies active inthe fossil fuel sector (%)
Share of non-renewable energy
consumption and non-renewable energy
production of investee companies from nonrenewable energy sources compared torenewable energy sources, expressed as apercentage of total energy sources (%)
A - Agriculture, forestry and fishing(GWh/MEUR revenue)

6. Energy consumption intensity per highimpact climate sector

B - Mining and quarrying (GWh/MEURrevenue)
C - Manufacturing (GWh/MEUR revenue)
D - Electricity, gas, steam and air conditioning
supply (GWh/MEUR revenue)
E - Water supply; sewerage; wastemanagement and remediation activities(GWh/MEUR revenue)
F - Construction (GWh/MEUR revenue)
G - Wholesale and retail trade; repair ofmotor vehicles and motorcycles(GWh/MEUR revenue)
H - Transporting and storage (GWh/MEURrevenue)
L - Real estate activities (GWh/MEURrevenue)
Share of investments in investee companies
with sites/operations located in or near tobiodiversity-sensitive areas where activitiesof those investee companies negatively
affect those areas (%)
Tonnes of emissions to water generated byinvestee companies per million EUR invested,
expressed as a weighted average (tonnes ofemissions to water / MEUR)
Tonnes of hazardous waste and radioactive
waste generated by investee companies per
million EUR invested, expressed as aweighted average (tonnes of hazardous
waste / MEUR)

Explanation
Sum of emissions from 7
portfolio companies (out of
total 12 companies that
submitted data, 2 didn't
Sum of emissions from 7
portfolio companies (out oftotal 12 total companies that
Sum of emissions from 5
portfolio companies (out oftotal 12 total companies that

The decrease is driven by 1portfolio company that
substantially decreased its
Scope 3 emissions.

Actions taken

The goal is to reduce emissions ofcompanies where measured byimplementing new carbon-reduction
initiatives and implement themeasurement in other companies in
the next reporting period.

The goal is to reduce the carbon
footprint of companies wheremeasured by implementing new
carbon-reduction initiatives in
the next year and implement themeasurement in other

The goal is to implement themeasurement in other portfolio
companies and support adoptionof renewable energy sources inmost of our portfolio companies.

Biodiversity7. Activities negatively affecting
biodiversity-sensitive areas

Water

8. Emissions to waterWaste

9. Hazardous waste and radioactive
waste ratio

Social and employee matters

10. Violations of UN Global Compact
principles and Organisation for
Economic Cooperation andDevelopment (OECD) Guidelines forMultinational Enterprises

Share of investments in investee companies
that have been involved in violations of theUNGC principles or OECD Guidelines forMultinational Enterprises (%)

0.0%

4.9%

-4.9%

No action considered as neededin 2024.

11. Lack of processes and compliancemechanisms to monitor compliance withUN Global Compact principles and OECD
Guidelines for Multinational Enterprises

Share of investments in investee companies
without policies to monitor compliance withthe UNGC principles or OECD Guidelines forMultinational Enterprises or grievance/complaints handling mechanisms to address
violations of the UNGC principles or OECD
Guidelines for Multinational Enterprises (%)

82.6%

88.8%

-6.1%

We aim to introduce UN Global
Compact principles and OECD
Guidelines for Multinational
Enterprises to portfolio
companies that are not familiarwith them.

12. Unadjusted gender pay gap

Average unadjusted gender pay gap ofinvestee companies (%)

1.5%

1.4%

0.1%

Collected from 8 companies.

13. Board gender diversity

Average ratio of female to male board
members in investee companies, expressed
as a percentage of all board members (%)

7.5%

7.7%

-0.3%

Reported by all companies.

14. Exposure to controversial weapons(anti-personnel mines, cluster munitions,chemical weapons and biologicalweapons)

Share of investments in investee companies
involved in the manufacture or selling ofcontroversial weapons (%)

0.0%

0.0%

0.0%

We don't invest into companies
involved in weapons trade.

Impact - 2023

Impact - 2022

51.9%

57.4%

-5.4%

3 companies have carbon
reduction initiatives in place.

Support other portfolio
companies to create andimplement these initiatives.

39.9%

58.7%

-18.8%

8 companies have a suppliercode of conduct.

Support other portfolio
companies to create andimplement a supplier code ofconduct.

4.7%

23.0%

-18.3%

11 companies have an anticorruption policy, somecompanies have their anticorruption policies includedin the Code of Conduct
document.

Our aim is to support theremaining companies toformulate their anticorruption policy.

We aim to implement themeasurement in remaining
portfolio companies as a firststep and then focus on initiatives
which would decrease the gap
where possible.
Our approach is to act asadvocates for more diverse
boards in all our portfolio
companies. However, as theboard members are mainly
representatives of otherinvestors, it is influenced by their
DEI approach. We have currently
identified the independent board
member / chair person role as
the most efficient way how to

Additional PAI indicators
Adverse sustainability indicator
Environmental

Investments in companies withoutcarbon emission reduction initiatives

SocialLack of a supplier code of conduct

Lack of anti-corruption and anti-bribery
policies

MetricShare of investments in investee companies
without carbon emission reduction initiatives
aimed at aligning with the Paris Agreement(%)
Share of investments in investee companies
without any supplier code of conduct(against unsafe working conditions,precarious work, child labour and forced
labour) (%)
Share of investments in entities without
policies on anti-corruption and anti-bribery
consistent with the United Nations
Convention against Corruption (%)

Change Explanation

Actions taken

Description of policies to identify andprioritise principal adverse impacts onsustainability factors

Please refer to our document "Inven ESG policy" located in the section Info for investors on our website www.invecapital.cz for detailed description how we identify and evaluate the principal adverse impacts.

Engagement policies

Inven is usually a minority shareholder, however, if possible we require a board seat in our portfolio companies to be aware and be able to influence of the situation in our companies. We monitor our investments on regular basis, communicate with relevant stakeholders to ensureand support our mutual cooperation (where possible setting up ESG committees at the boards), including separate dialogues with our investee companies on ESG matters. We try to support our investees in establishing their own ESG processes which are aligned with market bestpractice.

References to international standards

We adhere to international reporting and valuation standards (IPEV). We have a responsible code of conduct policy included in our fund internal guidelines that follows the principals of Czech and international law. We are members of various international organizations andcommunities, such as Invest Europe, VentureESG or Leaders for Climate action.

Historical comparison

As 2022 is the second reporting period for PAIs. Our main goal is to increase the availability of data and implementation of policies. In the policies area, we have seen the biggest improvements in Supplier code of conduct implementation. Moreover, the decrease of carbon footprint
is driven mainly by the substantial decrease of scope 3 emissions of one our portfolio companies in 2023.