14 We incorporate ESG at each stage of investing from pre-screening, through due diligence and ongoing monitoring. 17Capital believes businesses that proactively manage ESG considerations will be better positioned to protect economic value, leading to future success and longevity. As a provider of NAV finance, 17Capital invests in existing managers and funds rather than directly into underlying portfolio companies, which means it has a limited level of influence or control over the portfolio companies. Without significant influence or control over underlying portfolio companies, 17Capital’s approach focuses on ensuring the managers that the firm transacts with maintain appropriate ESG standards. Investment process PRE-INVESTMENT SCREENING PRE-INVESTMENT DUE DILIGENCE ONGOING MONITORING REPORTING • Consideration of exclusion and sensitivities list • ESG screening questions conducted • Deal scorecard includes ESG factor • If required, outcome from ESG screening is discussed at the investment committee • ESG questionnaire completed to identify any material ESG concerns • ESG risk assessment conducted and any significant risks highlighted • RepRisk screening • ESG section included in investment committee memo to document key findings • Any identified ESG risks are discussed at the investment committee • Review of underlying manager- published information • Annual ESG questionnaire sent to each underlying manager • Annual ESG risk assessment conducted • Ongoing RepRisk screening • Engagement with underlying managers as required • ESG summary provided for each deal in quarterly reports • More detailed ESG report included in annual reports • Standalone ESG report produced annually