SFDR PAI statement report Inven Capital Sub-Fund A
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 Inven Capital Sub-Fund A.
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 is updated 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 theholding 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

Impact - 2023

Impact - 2022

ChangeExplanation

1.1 Scope 1 GHG emissions (tonnes CO2e)

40.3

34.2

18%

1.2 Scope 2 GHG emissions (tonnes CO2e)

56.5

52.67%

1.3 Scope 3 GHG emissions (tonnes CO2e)

4 592.5

11 480.5-60%

1.4 Total GHG Emission (tonnes CO2e)

4 689.4

11 567.4-59%

2. Carbon Footprint

Carbon Footprint (tonnes CO2e / MEUR)

34.2

73.0

-53%

3. GHG intensity of investee companies

GHG intensity of investee companies (tonnes CO2e/ MEUR)

223.7

302.5

-26%

4. Exposure to companies active in the fossil
fuel sector

Share of investments in companies active in thefossil fuel sector (%)

0.0%

0.0%

0.0%

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

5. Share of non-renewable energy
consumption and production

Share of non-renewable energy consumption andnon-renewable energy production of investee
companies from non-renewable energy sources
compared to renewable energy sources, expressed
as a percentage of total energy sources (%)

30.8%

18.1%

12.6%

Based on data from 5 portfolio
companies in 2023 compared to
3 companies in 2022.

A - Agriculture, forestry and fishing (GWh/MEURrevenue)

0.000

0.0%

0.0%

B - Mining and quarrying (GWh/MEUR revenue)
C - Manufacturing (GWh/MEUR revenue)

0.000
0.001

0.0%
0.0%

0.0%
0.1%

D - Electricity, gas, steam and air conditioning
supply (GWh/MEUR revenue)

0.000

0.0%

0.0%

E - Water supply; sewerage; waste management
and remediation activities (GWh/MEUR revenue)

6. Energy consumption intensity per high impact
climate sector

Actions taken

Sum of emissions from 5
portfolio companies (out of total
10 companies in Sub-Fund A
portfolio).
The goal is to reduce emissions of companies
Sum of emissions from 5
where measured by implementing new
portfolio companies (out of total
carbon-reduction initiatives and implement
10 companies in Sub-Fund A
the measurement in other companies in theportfolio).
next reporting period.
Sum of emissions from 4
portfolio companies (out of total
10 companies in Sub-Fund A
portfolio).

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

The goal is to reduce the carbon
footprint of companies where measured
by implementing new carbon-reduction
initiatives in the next year andimplement the measurement in othercompanies.

The goal is to implement themeasurement in other portfolio
companies and support adoption ofrenewable energy sources in most of ourportfolio companies.

0.000

0.0%

0.0%

F - Construction (GWh/MEUR revenue)
G - Wholesale and retail trade; repair of motor
vehicles and motorcycles (GWh/MEUR revenue)

0.013

0.0%

1.3%

0.000

0.0%

0.0%

H - Transporting and storage (GWh/MEUR revenue)

0.000

0.0%

0.0%

L - Real estate activities (GWh/MEUR revenue)

0.000

0.0%

0.0%

Biodiversity

7. Activities negatively affecting biodiversitysensitive areas

Share of investments in investee companies withsites/operations located in or near to biodiversitysensitive areas where activities of those investee
companies negatively affect those areas (%)

0.0%

0.0%

0.0%

We don't have investments close
to biodiversity related areas.

Water

8. Emissions to water

Tonnes of emissions to water generated byinvestee companies per million EUR invested,
expressed as a weighted average (tonnes ofemissions to water / MEUR)

-0.0

n/a

Not relevant for our portfolio
companies.

Waste

9. Hazardous waste and radioactive waste
ratio

Tonnes of hazardous waste and radioactive waste
generated by investee companies per million EUR
invested, expressed as a weighted average (tonnesof hazardous waste / MEUR)

0.1

0.1

-7.3%

No action considered as needed in 2024.

Social and employee matters

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

Share of investments in investee companies thathave been involved in violations of the UNGC
principles or OECD Guidelines for Multinational
Enterprises (%)

0.0%

2.1%

-2.1%

No action considered as needed in 2024.

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

Share of investments in investee companies
without policies to monitor compliance with theUNGC principles or OECD Guidelines forMultinational Enterprises or grievance/ complaints
handling mechanisms to address violations of theUNGC principles or OECD Guidelines forMultinational Enterprises (%)

79.8%

73.9%

5.9%

We aim to introduce UN Global Compact
principles and OECD Guidelines forMultinational Enterprises to portfolio
companies that are not familiar withthem.

12. Unadjusted gender pay gap

Average unadjusted gender pay gap of investee
companies (%)

2.6%

1.5%

1.1%

Collected from 7 companies.

We aim to implement the measurement
in remaining portfolio companies as afirst step and then focus on initiatives
which would decrease the gap wherepossible.
Our approach is to act as advocates formore diverse boards in all our portfolio
companies. However, as the board
members are mainly representatives ofother investors, it is influenced by their
DEI approach. We have currently
identified the independent board
member / chair person role as the mostefficient way how to influence board
diversity.

13. Board gender diversity

Average ratio of female to male board members ininvestee companies, expressed as a percentage ofall board members (%)

10.1%

9.8%

0.3%

Reported by 9 companies.

14. Exposure to controversial weapons (antipersonnel mines, cluster munitions, chemical
weapons and biological weapons)

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.

Additional PAI indicators
Adverse sustainability indicator

MetricEnvironmental

Investments in companies without carbon
emission reduction initiatives

SocialLack of a supplier code of conduct

Lack of anti-corruption and anti-bribery
policies

Share 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, childlabour and forced labour) (%)
Share of investments in entities without policies onanti-corruption and anti-bribery consistent with theUnited Nations Convention against Corruption (%)

Impact - 2023

Explanation

Actions taken

46.9%

Impact - 2022
41.9%

Change5.0%

3 companies have carbon
reduction initiatives in place.

Support other portfolio companies tocreate and implement these initiatives.

40.5%

63.1%

-22.6%

6 companies have a suppliercode of conduct.

Support other portfolio companies tocreate and implement a supplier code ofconduct.

5.3%

42.0%

-36.7%

8 companies have an anticorruption policy, somecompanies have their anticorruption policies included in
the Code of Conduct document.

Our aim is to support the remaining
companies to formulate their anticorruption policy.

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 ensure andsupport 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 best practice.

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 and Anticorruption policies implementation. On the other hand,the decreased carboon footprint is driven mainly by the substantial decrease of scope 3 emissions of one our portfolio company in 2023.