Sustainability-Related Disclosures

For the moment, Mangrove does not consider the adverse impacts of investment decisions on sustainability factors in the manner prescribed by Article 4 of the SFDR as there is no sufficient data available in satisfactory quality to allow Mangrove to adequately assess the potential adverse impact of its investment decision on sustainability factors. In particular, given the scope and nature of activities of the targeted investee companies as well as their size (notably limited size of their workforce as founder-owned and led businesses), Mangrove does not consider that the sectors in which the funds invest generally have a significant direct environmental impact. The position will be kept under review as the underlying rules are finalised and are embedded in the short to medium term.