ANNEX 2

Sustainable
investment means
an investment in an
economic activity
that contributes toan environmental orsocial objective,
provided that theinvestment does not
significantly harm
any environmental orsocial objective andthat the investee
companies follow
good governancepractices.
The EU Taxonomy isa classification
system laid down inRegulation (EU)2020/852,
establishing a list ofenvironmentally
sustainableeconomic activities.
That Regulation
does not lay down alist of sociallysustainableeconomic activities.
Sustainable
investments with anenvironmental
objective might bealigned with theTaxonomy or not.

2023 periodic disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a,of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name: Inven Capital – Podfond C (“Sub-Fund C”)
Legal entity identifier: 75162903 (NIČ of Sub-Fund C)

Environmental and/or social characteristics
Did this financial product have a sustainable investment objective? [tick and fill in as relevant,the percentage figure represents the minimum commitment to sustainable investments]

Yes
It made sustainableinvestments with anenvironmental objective: ___%
in economic activities thatqualify as environmentally
sustainable under the EUTaxonomy
in economic activities that donot qualify as environmentally
sustainable under the EUTaxonomy

NoIt promoted Environmental/Social (E/S)
characteristics andwhile it did not have as its objective asustainable investment, it had a proportion of___% of sustainable investmentswith an environmental objective in economic
activities that qualify as environmentally
sustainable under the EU Taxonomy
with an environmental objective ineconomic activities that do not qualify asenvironmentally sustainable under the EU
Taxonomywith a social objective

It made sustainable investmentswith a social objective: ___%

It promoted E/S characteristics, but did not
make any sustainable investments

To what extent were the environmental and/or social characteristics promotedby this financial product met?
Environmental and social characteristics promoted by Sub-Fund C
The investment strategy of Sub-Fund C intends to promote environmental or social
characteristics, or a combination of those characteristics, provided that the companies inwhich the investments are made follow good governance practices in accordance with1

Article 8 of SFDR (REGULATION (EU) 2019/2088 OF THE EUROPEAN PARLIAMENT AND OF
THE COUNCIL of 27 November 2029).
Sub-Fund C is committed to investing in a responsible way by actively integrating
environmental, social and governance considerations into our investment selection andongoing monitoring process. Specifically, Sub-Fund C aims at:a)investing into companies where we see a commitment towards ESG goals,b)supporting these companies with the process of defining their own ESG strategy
and policy as well as their implementation,c)ensuring that the companies in which the Sub-Fund C invests ideally benefit
investors, society and the environment.
We monitor several metrics during our investment process that are listed in our ESG policy(document Inven ESG policy) published on our website www.invencapital.cz in the section
Info for Investors.

Sustainability
indicators measure
how theenvironmental orsocial
characteristics
promoted by thefinancial productare attained.

The ESG metrics we consider in our investment process can be divided into the following
areas: general environment, carbon footprint, material management, supply chain,employees, customers, community, diversity and inclusion, general governance and boardof directors.
How did the sustainability indicators perform?
Performance of ESG characterictics promoted by Sub-Fund C
In 2022 we formulated our ESG policy and sustainability strategy (as described in detail in ourInven ESG policy on our website). Further we approached our portfolio companies with ESG
data questionnaires and held interviews with them. Based on the collected information, weevaluated the company's approach to sustainability and the state of sustainability factors inthe company.
In 2023, we implemented Worldfavor, a professional sustainability data collection platform
and conducted the first data collection in June 2023 for the period 2022. Based on this data,
we published a statement on the principle adverse sustainability impacts of our portfolio
companies according to Annex 1 of the Commission Regulation (EU) 2022/1288 in June
2023.
At the beginning of 2024, we carried out a second data collection through the Worldfavor
platform. An overview of the data we thus obtained from our portfolio companies for theyear 2023 is summarized in several broad categories below. A comparison with the 2022
data obtained in June 2023 is also shown here.
In 2024 we collected data from our 3 portfolio companies that comprised Sub-Fund C as ofthe end of 2023.
General commitment towards ESG

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The commitment to sustainability goals was demonstrated by 100% of Subfund C
companies, especially in the environmental area, where companies focus on topics such as
biodiversity, climate change, waste and water management.
Environmental metrics
100% of Subfund C companies promote environmental properties. All monitoredcompanies pay attention to climate change. Their activities include a range of activities
from measuring their carbon footprint and setting targets for its reduction, through thesupervision of senior management and the board of directors on the fulfillment ofenvironmental goals or the assessment of risks arising from global warming and monitoring
legislative requirements.
67% of companies formulated targets for carbon footprint reduction, compared to 0% in
2022. 33% of companies measure their carbon footprint at all three levels (scope 1, 2 and 3)
in 2023, in 2022 no portfolio company measured its carbon footprint .
33% of the portfolio had waste reduction initiatives and consumed renewable energy in2023, not a single company in 2022.
Social metrics
100% of Subfund C companies promote social properties. In the area of promoting social
goals, we focused in particular on the analysis of the workforce, the supply chain andguidelines in the area of data protection and IT.
Subfund C companies employed an average of 28% women in 2023, in 2022 it was 33%.
There were 23% women in management positions in 2023, in 2022 it was an average of
25% based on data from 2 companies in both years. 33% of companies measured thesatisfaction of their employees in 2023 and 2022. Employee turnover was at the level of16% in 2023 and 18% in 2022.
33% of companies had a supply chain directive in 2023 and 2022. 67% of companies had adirective regarding the handling of personal data and a directive regulating IT security in2023, 100% in 2022.
Governance metrics
In the area of governance, we monitored the functioning of the board of directors and theexistence of some basic mechanisms such as whistleblowing and anti-corruption measures.
33% of companies had at least one independent board member in 2023, the same as in2022. 100% of companies had at least one woman on the board in 2023, the same as in2022.
67% of companies had a whistleblowing mechanism in place in 2023 as well as in 2022. All
Subfund C companies formulated an anti-corruption policy in 2023 as well as in 2022. 67%of companies had guidelines governing rules of conduct in 2023 as well as in 2022.
…and compared to previous periods?

3Comparing the years 2023 and 2022, we see similar results in promoting the environmental
and social properties of the product. A comparison of individual indicators with the year
2022 is given for individual indicators in the section above.
Data collection is also coordinated with other investors in companies, and there is a
noticeable tendency to limit the number of collected indicators. More and more emphasis isplaced on indicators relevant to the given company.
What were the objectives of the sustainable investments that the financial product partiallymade and how did the sustainable investment contribute to such objectives
Sub-Fund C didn´t intend to make any sustainable investments in 2023.

Principal adverse
impacts are themost significant
negative impacts ofinvestment
decisions onsustainability factors
relating toenvironmental,social and employee
matters, respect forhuman rights, anticorruption and antibribery matters.

How did the sustainable investments that the financial product partially made notcause significant harm to any environmental or social sustainable investment
objective?
How were the indicators for adverse impacts on sustainability factors taken
into account?
Sub-Fund C didn´t intend to make any sustainable investments in 2023.
Were sustainable investments aligned with the OECD Guidelines for Multinational
Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Sub-Fund C didn´t intend to make any sustainable investments in 2023.

How did this financial product consider principal adverse impacts onsustainability factors?
Even thought Sub-Fund C did not make any sustainable investments, it considered thethe principal adverse indicators on sustainability. It published the Principal adverse
sustainability impacts statement defined in Appendix 1 of COMMISSION DELEGATEDREGULATION (EU) 2022/1288 on Inven’s website (Inven Capital) in the section Info forinvestors in June 2023.
Sub-Fund C considers the following adverse sustainability impacts:• greenhouse gases emissions,• carbon footprint,• the intensity of greenhouse gas emissions of companies in which investments aremade,• exposure to companies operating in the fossil fuel sector,• share of energy consumption and production from non-renewable sources,
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The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomyaligned investments should not significantly harm EU Taxonomy objectives and isaccompanied by specific Union criteria.
The “do no significant harm” principle applies only to those investments underlying
the financial product that take into account the Union criteria for environmentally
sustainable economic activities. The investments underlying the remaining portionof this financial product do not take into account the Union criteria forenvironmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any
environmental or social objectives.
• the intensity of energy consumption by sector with a high impact on the climate,• activities with a negative impact on areas sensitive to biological diversity,• emissions into water,• share of hazardous waste and radioactive waste,• violation of the principles of the United Nations Global Compact and the guidelines of
the Organization for Economic Co-operation and Development (OECD) for multinational
enterprises,• missing procedures and mechanisms for monitoring compliance with the principles of
the UN Global Compact and OECD guidelines for multinational enterprises,• the unadjusted difference in the remuneration of women and men,
• gender diversity in the board of directors,• exposure to controversial weapons (anti-personnel mines, cluster munitions, chemicaland biological weapons),• investments in companies without initiatives to reduce carbon emissions,• missing supplier code of conduct,• missing policies in the area of combating corruption and bribery.

What were the top investments of this financial product?

The list includes theinvestments
constituting thegreatest proportionof investments ofthe financial productduring the reference
period which is:
1.1.2023-31.12.2023

Largest investmentsSector% Assets

Country

TaranisWint
Hydrogrid

Agriculture
Water management
Energy60%34%6%IsraelIsraelAustria

What was the proportion of sustainability-related investments?
5Enabling activities
directly enable
other activities tomake a substantial
contribution to an
environmental
objective.

Sub-Fund C had not made a commitment to do sustainable investments with a socialobjective.
What was the asset allocation?

Transitional
activities areactivities for which
low-carbon
alternatives are not
yet available andamong others havegreenhouse gas
emission levels
corresponding to thebest performance.
Taxonomy-aligned
activities areexpressed as ashare of:- turnover reflects
the “greenness” ofinvestee
companies today.
- capital
expenditure(CapEx) shows thegreen investments
made by investee
companies,relevant for atransition to agreen economy.
- operational
expenditure(OpEx) reflects thegreen operational
activities ofinvestee
companies.

#1 Aligned with E/Scharacteristics = 100%

Investments#1B Other E/Scharacteristics = 100%

#1 Aligned with E/S characteristics includes the investments of the financial product used to attain theenvironmental or social characteristics promoted by the financial product.
#2Other includes the remaining investments of the financial product which are neither aligned with theenvironmental or social characteristics, nor are qualified as sustainable investments.

Note: #2 Other includes one portfolio company that we did not gather data from.
In which economic sectors were the investments made?
The investments were made into the following sectors:
Agriculture,

Water management,

Energy.

To what extent were the sustainable investments with an environmental
objective aligned with the EU Taxonomy?
Did the financial product invest in fossil gas and/or nuclear energy related
activities complying with the EU Taxonomy?
Yes
NoAsset allocation
describes theshare ofinvestments inspecific assets.

In fossil gas

In nuclear energy

Sub-Fund C does not pursue the goal of sustainable investments in the reference period,
however, it is gradually preparing to implement the screening of sustainable economic
activities at its portfolio companies in accordance with Regulation (EU) 2020/852 of theEuropean Parliament and of the Council of 18 June 2020 on the establishment of a6

framework for facilitating sustainable investments, as amended (EU Taxonomy"). Due tothe lack of available data and the readiness of companies to report this data, we consider
the compliance of Sub-Fund C's portfolio with the EU taxonomy to be 0% by the end of2023. The companies in which Sub-Fund C has invested are private start-ups whose data is
usually not publicly available.
Sub-Fund C will present the results of the screening of sustainable economic activities
according to the EU Taxonomy for its portfolio companies in the following periods.
What was the share of investments made in transitional and enabling activities?
There were no investments in transitional and enabling activities.
How did the percentage of investments that were aligned with the EU Taxonomy
compare with previous reference periods?
Currently, it is not the intention of Sub-Fund C to make sustainable investments. The
percentage share of these investments has therefore not changed compared to theprevious reference period.

What was the share of sustainable investments with an environmental
objective not aligned with the EU Taxonomy?
Sub-Fund C doesn’t hold sustainable investments with an environmental objective.

What was the share of socially sustainable investments?
aresustainableinvestments with anenvironmental
objective that do
not take into
account the criteria
for environmentallysustainableeconomic activities
under Regulation(EU) 2020/852.

Sub-Fund C didn´t intend to make any sustainable investments in 2023.

What investments were included under “other”, what was their purpose and were
there any minimum environmental or social safeguards?
The investments included under „other“ are investments that we did not collected datafrom in 2023. This is a company that mainly develops an IT product, it underwent a preinvestment review and a screening for prohibited activities. In the next reference period,
we will try to obtain and evaluate the data.

What actions have been taken to meet the environmental and/or social
characteristics during the reference period?
Inven's investment managers were actively monitoring the activities of portfolio
companies and participated in the meetings of the boards of directors of these companies(in most companies, Inven has a member on the board of directors). In 2023, investment
managers presented the results of their sustainability data collection to their portfolio
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companies and presented Inven's sustainability strategy. Inven evaluated companies'
approach to sustainability using the Worldfavor reporting platform, its questionnaires andsubsequent interviews with company representatives. Based on the evaluation of theestablished facts, Inven helps its portfolio companies set priorities and goals in the fieldof sustainability depending on the individual needs of each company.
Regular monitoring of sustainability indicators will take place annually in the first half ofthe year for the previous year.

How did this financial product perform compared to the reference benchmark?
We haven’t designated any reference benchmark to compare environmental and social
characteristics of this financial product.
How does the reference benchmark differ from a broad market index?
N/A
How did this financial product perform with regard to the sustainability indicators
to determine the alignment of the reference benchmark with the environmental
or social characteristics promoted?
N/A
How did this financial product perform compared with the reference benchmark?
N/A
How did this financial product perform compared with the broad market index?
N/A

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