Sustainability Risk Policy

Policy

Sustainability risk is an environmental, social or governance event or condition that, if it occurs, could cause an actual or potential material negative impact on the value of an investment. No Such Ventures, as manager of alternative investment funds, implements a Sustainability Risk Policy to identify, assess, control and report on ESG risks across its portfolio. This policy supports transparency with stakeholders and ensures that sustainability risks are systematically considered in investment decision-making.

Objective

Our objective is to protect our investments, stakeholders, and the communities in which our portfolio companies operate from the negative effects of sustainability risks. We aim to ensure that each investment is not only financially sound, but also promotes positive long-term environmental and social characteristics. By integrating ESG factors into our investment decisions, No Such Ventures contributes to the UN Sustainable Development Goals and responsible investment, creating long-term value for investors, stakeholders, and society.

Scope

This policy applies to all investment activities at No Such Ventures. We employ an iterative, four-phase risk management process throughout the investment lifecycle: identification, assessment, management, and reporting.

1. Identify

No Such Ventures deploys capital through fund vehicles and, for some investments, deal-by-deal co-investments alongside the fund. Each fund vehicle and each deal-by-deal co-investment is registered as a distinct financial product with the AFM, with its own tailored disclosures.

At the outset of each potential investment, we apply a negative screening process to exclude companies in sectors we do not invest in. Our exclusion policy covers:

• Fossil fuel sector

• Gaming

• Web3

• Weaponry

• Activities negatively affecting biodiversity

Any company involved in the above activities is excluded from the investment process. Companies that pass this initial screen proceed to in-depth assessment.

2. Assess

Companies that pass the exclusion screen are assessed for potential sustainability risks using the Sustainability Accounting Standards Board (SASB) materiality framework. SASB identifies the sustainability risks most relevant to financial performance across 77 industries, enabling consistent, industry-specific analysis.

Our investment team uses the SASB materiality map to identify and score the material ESG risks associated with each potential investment's industry and sector. Risks are rated High, Medium, or Low based on available information. Where sustainability risks are not considered relevant, the reasons are explained. Where they are relevant, their potential impact on the financial product is disclosed in qualitative or quantitative terms.

Assessment findings are presented internally before a final investment decision is made.

3. Manage

Once an investment is made, No Such Ventures monitors and manages identified sustainability risks throughout the investment lifecycle through:

• Active ownership: Engaging directly with portfolio companies to advocate for improved sustainability practices, including discussions on sustainability strategy with management.

• Monitoring: Keeping up to date with sustainability research, policy developments, and company disclosures to reassess risks on an ongoing basis.

• Reporting: Reporting annually on sustainability risks across the portfolio to ensure transparency and accountability.

4. Report

No Such Ventures reports on sustainability risk performance annually to the respective financial products and their shareholders. Annual performance reviews assess the ongoing ESG developments of each investment, and the sustainability risk management practices of our investment professionals are evaluated as part of this process.

Remuneration Policy

Each employee of No Such Ventures receives a compensation plan based on their role, experience, and skills, in line with market conditions. Total compensation consists of fixed components (salary and benefits) and variable components. Variable compensation takes into account compliance with all applicable rules and procedures, including those related to sustainability risk management in investment decision-making. This assessment is conducted annually through individual performance reviews.

Principal Adverse Impacts — statement on not considering PAIs at entity level

Policy

Pursuant to Article 4(1)(b) of Regulation (EU) 2019/2088 (SFDR), No Such Ventures confirms that it does not consider the principal adverse impacts (PAIs) of its investment decisions on sustainability factors as described in Article 4(1)(a) of the SFDR, and does not provide the related disclosures at the entity level.

Rationale

No Such Ventures manages a portfolio of financial products across both fund vehicles and deal-by-deal co-investments, which includes both Article 6 and Article 8 financial products. For our Article 8 products, PAIs are assessed at the product level as part of pre-investment due diligence. However, to maintain consistency in methodology across all financial products, and because consolidated entity-level PAI reporting would not be proportionate given limited data availability for all underlying assets, we do not report PAIs at the entity level.

We expect that the introduction of the Corporate Sustainability Reporting Directive (CSRD) will improve data availability over time and may enable more comprehensive reporting in the future.

This disclosure is published pursuant to Regulation (EU) 2019/2088 (SFDR). It will be reviewed and updated at least annually, or when material changes occur. No Such Ventures B.V. Last updated: September 2026.