SFDR

Pursuant to the Sustainable Finance Disclosure Regulation (SFDR), PYGG Real Estate Fund Management B.V. is required to disclose information to the participants of Dutch Caribbean Real Estate Fund N.V. (‘DCRF’) regarding the extent to which PYGG Real Estate Fund Management B.V. takes into account sustainability risks and adverse impacts on sustainability factors when making investment decisions for DCRF. Sustainability risks are environmental, social or governance events or conditions that, if they occur, could cause an actual or a potential material negative impact on the value of the investments. Sustainability factors concern environmental, social and employee matters, respect for human rights, anti‐corruption and anti‐bribery matters.

Although ESG-criteria are an element of the acquisition strategy for DCRF, PYGG Real Estate Fund Management B.V. currently does not integrate sustainability risks in its investment decision making process for DCRF as it does not have sufficient and reliable data to measure the sustainability risks related to the investments to be made by DCRF. PYGG Real Estate Fund Management B.V. also does not consider adverse impacts of its investment decisions on sustainability factors as the investment policy of DCRF does not promote any environmental and/or social characteristics. Currently, the investments made by PYGG Real Estate Fund Management B.V. for DCRF do not take into account the EU criteria for environmentally sustainable economic activities.