SFDR Sustainability Disclosures | Clementine Capital

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Sustainability-related disclosures pursuant to Regulation (EU) 2019/2088 (“SFDR”)

Date of publication: 30 September 2025

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I. Sustainability risks (Article 3 SFDR)

Clementine Capital Management GmbH (“Clementine Capital”, LEI:391200ZLJ3J2V94T0W40) considers sustainability risks as part of its investmentdecision-making process. Sustainability risks are environmental, social orgovernance events or conditions, the occurrence of which could have an actualor potential material negative impact on the value of the investment.

As part of Clementine Capital's standardprocedure, sustainability risks are considered as part of its due diligenceprocess prior to any investment and also include an assessment ofsustainability risks. The results of such assessment are taken into accountwhen the investment decision is being taken. Clementine Capital remains free inits decision to refrain from investing or to invest despite sustainabilityrisks, in which case Clementine Capital may apply appropriate measures toreduce or mitigate any sustainability risks.

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II. No consideration of adverse impacts of investment decisions onsustainability factors (Article 4 SFDR)

Clementine Capital does not consider theprincipal adverse impacts (PAI) of its investment decisions on sustainabilityfactors and does not apply the sustainability indicators within the meaning ofArticle 4 of the SFDR. Sustainability factors are environmental, social andemployee matters, respect for human rights, and the fight against corruptionand bribery.

Although Clementine Capital falls below theregulatory threshold for mandatory PAI consideration under Article 4 of theSFDR, feasibility of PAI consideration has been assessed. As the entity-levelPAI regime applies on a whole-of-firm basis, any voluntary opt-in would extendto all funds under management. At present, Clementine Capital considers thatthe information provided by its portfolio companies across all managed funds isnot sufficiently robust to enable reporting and consideration of principal adverseimpacts on a firm-wide basis in accordance with the SFDR requirements.

As Clementine Capital is strongly committed toresponsible investing and transparency, this position is reviewed on an ongoingbasis. Nevertheless, Clementine Capital does not expect that data availabilityacross its managed portfolios will materially improve in the near term tosupport voluntary opt-in. In the meantime, Clementine Capital reserves theright to make use of selected sustainability indicators listed in Annex I ofthe RTS and/or to apply its own set of indicators where appropriate.

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III. Remuneration disclosures (Article 5 SFDR)

As a registered alternative investment fundmanager within the meaning of section 2 (4) of the German Investment Code(Kapitalanlagegesetzbuch, “KAGB”), Clementine Capital does nothave and does not need to have a remuneration guideline or policy in accordancewith the requirements of the KAGB.

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IV. Sustainability-Related Information About Financial Products That Promote Environmental or Social Characteristics (Article 10 SFDR)

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Clementine Capital Fund 1 GmbH & Co KG

‍Publication Date: 07.05.2026

Clementine Capital Management GmbH, LEI: 391200ZLJ3J2V94T0W40, is the alternative investment fund manager of Clementine Capital Fund 1 GmbH & Co KG ("Clementine Capital Fund 1"),LEI: 3912005DZNU29TARVV98, within the meaning of the German Investment Code (Kapitalanlagegesetzbuch) and as such publishes the following information in light of the consideration of sustainability-related aspects in accordance with Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability disclosure requirements in the financial services sector ("SFDR").

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Summary

This financial product promotes environmental or social characteristics but does not have as its objective a sustainable investment within the meaning of Article 2 No. 17 SFDR.

The promoted characteristics consist in long-term capital appreciation through Clementine Capital Fund 1 investment as feeder fund in Breakthrough Energy Ventures Select Fund II, L.P., a Delaware limited partnership ("Target Fund"). The Target Fund is a closed-ended later-stage venture capital fund which primarily invests in companies developing technologies with the potential to reduce global greenhouse gas emissions. In accordance with the Target Fund's investment strategy, Clementine Capital Fund 1 expects to invest at least 70% in line with the promoted environmental characteristics. Up to 30% of the investments may be other investments. These investments may include cash and cash equivalents held for liquidity management purposes, as well as, where applicable, exposures at the level of the Target Fund that do not qualify as investments aligned with the environmental characteristics promoted by Clementine Capital Fund 1.

No reference benchmark has been designated to attain the environmental or social characteristics promoted by the financial product.

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Zusammenfassung

Dieses Finanzprodukt bewirbt ökologische oder soziale Merkmale, strebt aber keine nachhaltigen Investitionen im Sinne der Definition des Artikel 2 Nr. 17 SFDR an.

Die beworbenen Merkmale werden durch das Investment des Fonds als Feederfonds in Breakthrough Energy Ventures Select Fund II, L.P., eine in Delaware ansässige Limited Partnership („Zielfonds"), erreicht. Der Zielfonds ist ein geschlossener later-stage Venture Capital Fonds, der hauptsächlich in Unternehmen investiert, die Technologien zur potenziellen Reduzierung globaler Treibhausgasemissionen entwickeln. Im Einklang mit der Anlagestrategie des Zielfonds erwartet Clementine Capital Fund 1, dass mindestens 70 % der Investitionen entsprechend den beworbenen ökologischen Merkmalen getätigt werden. Bis zu 30 % der Investitionen können in andere Anlagen erfolgen. Diese Anlagen können unter anderem Barmittel und Barmitteläquivalente umfassen, die zu Zwecken des Liquiditätsmanagements gehalten werden, sowie – sofern anwendbar – Engagements auf Ebene des Zielfonds, die nicht als Investitionen gelten, die mit den von Clementine Capital Fund 1 beworbenen ökologischen Merkmalen in Einklang stehen.

Es wurde kein Referenzwert benannt, um die mit dem Finanzprodukt beworbenen ökologischen oder sozialen Merkmale zu erreichen.

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No Sustainable Investment Objective

This financial product promotes environmental or social characteristics, but does not have as its objective sustainable investment.

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Environmental or Social Characteristics of the Financial Product

Clementine Capital Fund 1 promotes environmental characteristics by contributing to the transition to a net-zero economy.

The promoted environmental characteristic is, in particular, the potential contribution to the reduction of greenhouse gas emissions and to long-term decarbonization pathways. The focus lies on enabling technologies and business models that are intended to address key emission drivers in sectors with high greenhouse gas intensity. The Target Fund's investment strategy is focused on Climate Tech companies operating in sectors that currently account for a significant share of global greenhouse gas emissions. These sectors include, among others, electricity, transportation, manufacturing, buildings and agriculture.

No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted by Clementine Capital Fund 1.

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Investment Strategy

The purpose of Clementine Capital Fund 1 is to (directly or indirectly) acquire, hold and dispose of an equity investment in the Target Fund, due to its unique positioning to potentially deliver gigaton-scale climate impact in the world's most crucial, hard-to-abate sectors. As part of the overall investment process, a dedicated risk analysis was conducted.

Binding element of the investment strategy is the investment in the Target Fund. Clementine Capital Fund 1 does not directly select individual portfolio companies. Instead, the promoted environmental characteristics are pursued through the Target Fund's stated investment strategy, which defines its primary purpose as making investments principally in companies developing technologies with the potential to reduce global greenhouse gas emissions.

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Policy to Assess Good Governance Practices of the Investee Companies

As part of its due diligence, the investment team reviews whether the Target Fund has appropriate governance practices in place. This may include an assessment of the Target Fund's performance in areas such as labor practices, human rights, and corporate governance. Clementine Capital Fund 1 also conducts due diligence to evaluate the Target Fund's management structure, employee relations, and tax compliance and, where appropriate, engages with the Target Fund to encourage improvements in governance practices.

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Proportion of Investments

Clementine Capital Fund 1 will invest exclusively in the Target Fund. In accordance with the Target Fund's investment strategy, at least 70% of the committed capital is intended to be invested in portfolio companies aligned with the environmental characteristics promoted by Clementine Capital Fund 1.

In addition, Clementine Capital Fund 1 expects to reserve up to 30% of its commitments for liquidity management purposes.

Due to the absence of concrete figures, the values presented herein are based on the Target Fund's stated primary investment purpose as set out in its Limited Partnership Agreement. It is not a legally binding obligation of the Target Fund.

Clementine Capital Fund 1 will not invest a portion of its capital in any other asset class.

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Monitoring of Environmental or Social Characteristics

The investment team for Clementine Capital Fund 1 will initially and continuously monitor whether the investment objectives are complied with and whether investments remain within the investment policies. Based on the information made available by the Target Fund, including its annual reports, Clementine Capital Fund 1 will review and assess on an ongoing basis whether the Target Fund's investment strategy remains consistent with the objectives of the Fund.

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Methodologies for Environmental or Social Characteristics

Clementine Capital Fund 1 will, on an ongoing basis and based on the information made available by the Target Fund, review whether the Target Fund's investment activity remains consistent with the Fund's objectives and investment policy.

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Data Sources and Processing

Clementine Capital Fund 1 receives portfolio-related data from the Target Fund as part of its due diligence process and on a regular basis following the investment. Where necessary or beneficial, Clementine Capital Fund 1 also makes use of publicly available data. Estimates of data are not made.

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Limitations to Methodologies and Data

Clementine Capital Fund 1 partially relies on the information gathered during the due diligence process. Moreover, in the post-investment phase, Clementine Capital Fund 1 is reliant on the reported data of the Target Fund. In both cases, complete data may not always be available due to the nature of the investment. The information is verified only if and to the extent misrepresentations are suspected.

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Due Diligence

Prior to committing to the Target Fund, Clementine Capital Fund 1 reviewed the sustainability-related information made available by the Target Fund, including, where available, its ESG framework, governance structures and approach to managing sustainability-related risks.

On an ongoing basis, Clementine Capital Fund 1 relies on the information, disclosures and reporting provided by the Target Fund to assess the continued promotion of environmental characteristics and the application of good governance practices. Clementine Capital Fund 1 does not carry out a separate, independent ESG due diligence on individual underlying investments of the Target Fund.

The due diligence process of Clementine Capital Fund 1 is not externally monitored.

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Engagement Policies

Clementine Capital Fund 1 investments are made for a period of several years. Accordingly Clementine Capital Fund 1 prioritizes building and maintaining a trust-based working relationship with the Target Fund to ensure ongoing compliance with the investment objectives. As it is a feeder fund's investment in the Target Fund, the influence Clementine Capital Fund 1 can exert on the portfolio companies is limited.