The Fund Manager does not consider any adverse impacts of its investment decisions on sustainability factors and, hence, does not use the indicators listed in Annex 1 of the Commission’s delegated regulation (EU) 2022/1288 of 6 April 2022 supplementing Regulation (EU) 2019/2088 (the ”SFDR”) in its investment decisions, as these currently include metrics that the Fund Manager does not consider to be applicable to the early-stage investments undertaken by the Fund. The Fund Manager will on a continuous basis assess this approach. If and to the extent this should change to the effect that the indicators become more practicable to use in early-stage investments, the Fund Manager will re-evaluate whether to consider the principal adverse impacts set out in Table 1-3 of Annex 1 of its investment decisions in due course.