Meeting of shareholders of the Company

THREE SEAS INITIATIVE1)) NVESTMENT

Three Seas Initiative Investment Fund S.A. SICAV-RAIF

Socitö anonyme — Societe d’investissement ä capital variable —

Fonds d’investissement alternatif r6seni

Registered office: 5, rue Jean Monnet

L-2180 Luxembourg

Grand Duchy of Luxembourg

R.C.S. Luxembourg B 234989

(the “Company”)

CONVENING NOTICE OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS OF THE COMPANY TO BE HELD IN LUXEMBOURG ON 17 MAY 2024 AT 10 A.M. CEST

Ministry of Finance Suur-Ameerika 1 10122 TALLINN Estonia

2 May 2024

Dear Shareholder,

We hereby kindly convene you, in your capacity as shareholder of the Company (a “Shareholder’, together with the other shareholders of the Company referred to as the “Shareholders’), to attend the annual general meeting of the Shareholders (the “Meeting’) which wiIl be held in Luxembourg on 17 May 2024 at 10 A.M. CEST, in compliance with the provisions of the articles of association of the Company (the “Articles’) and in accordance with the Luxembourg Iaw dated 10 August 1915 on commercial companies as amended from time to time, in order to consider and resolve on the following agenda (the “Agenda):

AGENDA

1) Removal of Ms Beata Urszula Daszyr’iska - Muzyczka, as member of the supervisory board of the Company, with effect as of the date of the Meeting;

2) Removal of Mr Pawe{ Karol Nierada, as member of the supervisory board of the Company, with effect as of the date of the Meeting;

3) Appointment of Mr Jaroslaw Dariusz Dbrowski, as candidate proposed by Bank Gospodarstwa Krajowego, to serve as member of the supervisory board of the Company for a period of six (6) years;

4) Appointment of Mr Bartosz Drabikowski, as candidate proposed by Bank Gospodarstwa Krajowego, to serve as member of the supervisory board of the Company for a period of six (6) years;

5) Appointment of the independent shareholders representative at the investment committee of the Company;

6) Miscellaneous.

We invite you to return the proxy enclosed herewith as Schedule 5, as soon as possible and duly signed, by email to onecorporateone-gs.com and jean-yves.corneauope-qs.com followed by the original to: 4, rue Peternelchen, L-2370 Howald, Grand Duchy of LUmM!flll1steer1um

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‘ THREE SEAS INI11ATIVE INVESTMENT FUND

ATTENDANCE BY CONFERENCE CALL

Please note that pursuant to article 34.4 of the Articles, the Shareholders are entitled to participate at the Meeting by conference caII. Please find below the dial-in details:

0 ok hee cm he meet:nq

Buigaria

+35924921320

Croatia

+385 1 3445 298

Estonia

+372 674 3543

H unga ry

+36 1 755 5399

Latvia

+371 65 588 841

Lithuania

+370 5 204 9274

Luxem bourg

+352 27 87 14 74

Poland

+48222137334

Romania

+40 21 589 2579

Siovenia

+3861 8281378

United Kingdom

-*44 20 4526 5793

Meeting ID: 379 525 317 73

Passcode: VJxs7r

4

THREE SEAS INI11ATIVE INVESTMENT FUND

QUORUM AND VOTING REQUIREMENTS

Resolutions on the items of the agenda must be passed by a simple majority of those present or represented pursuant to article 35.5 of the Articles.

We thank you for your attention and Iook forward to your presence at the Meeting.

Yours faithfully,

Three Seas Initiative Investment Fund SA. SICAV-RAIF By: ONE Corporate on behalf of the Management Board

Schedules:

Schedule 1: Nomination Letter Schedule 2: Jarostaw Dariusz Dbrowski’s curriculum vitae Schedule 3: Bartosz Drabikowskis curriculum vitae Schedule 4: Patrice Molinaris curriculum vitae Schedule 5: Power of Attorney

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Schedule 1 [Nomination Letter]

0 BGK BANK GOSPOt)ARSTWA KkAIOWEGO

Warsaw, May 2nd, 2024

DIN.071.11.RS.2024

THREE SEAS INITIATIVE INVESTMENT FUND S.A. SICAV-RAIF

5, rue Jean Monnet

L-2180 Luxembourg

Grand Duchy of Luxembourg

Subject: Change of BGK representatives in the Supervisory Board

Dear Madam or Sir,

Bank Gospodarstwa Krajowego (“BGK”) would like to replace current representatives of BGK in

the Supervisory Board of the Three Seas Initiative Investment Fund S.A. SICAV-RAIF (“3SIIF”).

Subsequently in accordance with the Articles of Association and Private Placement Memorandum,

we hereby propose the appointment of:

- Mr. Jarostaw Dariusz Dbrowski, Supervisory Board member of BGK, and

- Mr. Bartosz Drabikowski, Advisor to the chairperson of the Board at BGK,

as new Supervisory Board members of the 3SIIF for a term of six years.

Mr. Dbrowski and Mr. Drabikowski fully meet the eligibility criteria described in Articles 4.44 and

4.46 of the Private Placement Memorandum.

Please find enclosed a Curriculum Vitae of our candidates.

Yours faithfully,

A 1 e ksa n d ra przez Aleksand,a 5ur,nowKz Dala. 2(124 Oi 02141126Surynowicz +0200

POLSKI BAN( POZwOJ(J WWW. BGK.PL L 1RCZJI MSKIE 7. ]O-355 V-RSZVA TYMCZASOWA SIEOZIB0 QR.AZ AORES 00 K3RESPONDENCJI:

‘JRS0 2. UL. CHMIELNJ2 ‘3. 20-801

THREE SEAS INITIATIVE INVESTMENT FUND

Schedule 2 [Jaroslaw Dariusz Dqbrowski’s curriculum vitae]

Jaroslaw Dariusz Dqbrowski

Professional Bank Gospodarstwa Krajowego

experience Supervisory Board Member (selected):

2024 —

DF Capital & Management Sp. z o.o.

Chairperson ot the Board

201 9 —

ABC Data S.A.

Supervisory Board Member

2019

SGB — Bank SA

Vice-President of the Board

2018

SGB—BankSA

Advisor to the Board

201 7 — 2018

Michael / Ström Dom Maklerski Sp. z 0.0.

Chaiperson of the Supervisory Board

2015 — 201 7

DF Capital Dom Maklerski Sp. Z 0.0.

Chairperson of the Board

2010 - 201 4

Bank DnB NORD Polska S.A.

Chairman of the Board

2004 — 2009

Raiffeisen Bank Poiska S.A.

Board member

1997—2003

Narodowy Fundusz Inwestycyjny PROGRESS S.A.

Chairman ot the Board

1995—1997

Education: DnB NOR/Norway

Study ot Energy and Climate Transformation in Bank Managemenf

2008

AMP, University of Navarro / IESE Management

Sc hool/Barcelona

Postgraduate studies

2007

Center for Management Training UW/IJniversity ot Brussels

MBA

1998

Edinburgh University Management School

HGM MBA management scholarship

1992

University of Warsaw

Faculty ot Law and Administration

1989

r THREE SEAS INIflATPVE INVESTMENT FUND

Schedule 3 [Bartosz Drabikowski’s curriculum vita e]

Bartosz Drabikowski

Professional Bank Gospodarstwa Krajowego

experience Advisor to the CEO (selected):

2024 —

PKO Bank Poiski S.A.

Chief Financial Officer

2008—2017 and 2021 —2022

Poiski Holding Nieruchomosci S.A.

Advisor to the CEO

2018—2021 and 2022—2024

VISA Europe

Member of the Board of Directors

2015 — 201 6

Krajowa Izba Rozliczeniowa S.A.

Chief Financial Officer

2006 — 2008

Ministry of Finance

Director of Einancial Institutions Department

2004 — 2005

Ministry of Finance

Deputy Director of Financial Institutions Department

2001 —2004

European Commission

European Securities Commit tee member

European Banking Commitfee member

2003 — 2005

European Council

Financial Services Comm[ttee member

2003 — 2005

Education: Harvard Business School

Advanced Management Program

2015

University of Ilinois at Urbana — Champaign University of Warsaw

Executive MBA

2006 — 2008

The Polish Intitute of International Affairs

Diplomatic Academy. Foreign policy studies

2005 — 2006

SGH Warsaw School of Economics Banking

1999—2000

National School of Public Administration

1996—1998

, THREE SEAS INTIATIVE INVESTMENT FUND

Schedule 4 [Patrice MoIinari’s curriculum vitae]

Patrice 1 Molinari

patrice.molinari@gmailcom 1 www.linkedin.com/in/patricemolinari/, Luxembourg

EXECUTIVE SUMMARY

1 am interested in resident BOD non-exec positions in PE/VC funds as weIl as in disruptive companies with a social impact angle in Europe and emerging markets.

Starting as an IT engineer (Alcatel, French air force), my career spans 25 years, including 17 years in venture capital and private equity. 1 built strong business networks in Europe, North America, the middle east, Asia and Africa. 1 helped establish 5 PE/VC funds (commitment USD 600m) with varied strategies (seed-early-late stage, buyout, infrastructure), deployed USD 500m in 34 direct transactions and deployed USD 1.4b in 23 private equity funds. 1 also have 8 years of experience in consulting and corporate operations (M&As, corporate development, corporate venturing). My focus sectors are ICT (B28, B2C SaaS), technology, education, healthcare, retail, fintech, transport and logistics.

BOARD EXPERIENCE

Member, Advisory Board, cinchona Technologies, United Kingdom, 2021-present O Ecommerce aggregation platform. Seed investor. Advising on fundraising, portfolio construction, scale-up strategy.

Member, Board of Directors, Al Masah Education Holding Limited, Cayman Islands, 2010-2013 O lnvestments in private schools and universities in the MENA region. Advised on investment strategy.

Member, Board of Directors, Al Masah Asset Management SARI, Luxembourg, 2010-2013 O Private equity investment firm focusing on education, healthcare and F&B services. Advised on investment strategy.

Member, Advisory Board, Knotstandard, Dubai UAE, 2012-2015 O Production and sale of bespoke suits. Seed investor. Advised on business expansion strategy.

Observer, Board of Director, several technology companies, USA, 2008-2009 O Various hardware and software companies. Oversaw my employer’s (Noor financial) minority stakes in these firms.

Member, Board of Directors, Queen Alla International Airport, iordan, 2008-2009 O Airport concession. Oversaw Kuwait’s publicly traded National lndustries Group interest in the airport.

Member, Board of Directors, Linktech, China, 2008-2009 O Consumer electronics (GPS) manufacturer and geo mapping. Advised on general commercial and scale-up strategy.

Member, Advisory Board, Ennovent, Austria, 2007-2009 O lmpact investment in low-income markets (water, health).

Vice Chairman, Board of Directors, KGL Aviation, UAE/Kuwait, 2004-2007 O Private jet charter. Established the company for a local family and oversaw its development until trade sale.

WORK EXPERIENCE

EUROPEAN INVESTMENT FUND (EIF) / EUROPEAN INVESTMENT BANK (EIB), Luxembourg Senior Manager Private Equity Investments (LP investments), 2016-2022

O Conducting investments in EU funds: USD 1.4bn in 10 infrastructure funds and 13 growth, buyout, mezz funds.

INTERNATIONAL FINANCE CORPORATION (IFC) / World Bank Group, Senegal/Washington DC, USA Investment Officer, 2013-2016 O lnvestments in retail, hotels, universities, clinics, financial services. Advised ECOWAS commission and African States on cross

border investment policy issues.

AMCI/Regulus Capital (investment firm), Dubai, UAE Senior Director, Private Equity, 2010-2013

O Managed the Iaunch of (i) AMCL operations, (ii) Diamond Lifestyle (Food & beverage franchises), (iii) Al Najah Education (Education). Employee #2 in AMCL, founded in Apr ‘10. AUM grew from $0 to $600m in 1.5 years.

STRATELIO (boutique cross-border investment advisory), China/India/GCC Founder, Director, 2008-2013

O Advised Asian and GCC investors on cross border acquisition of technology-rich European firms. Advised UAE Ministry of Foreign Affairs on international economic strategy implementation (through CCC consulting).

NOOR FINANCIAL (3 Iargest publicly traded investment firm in Kuwait), Kuwait Director Private Equity, 2007-2008

O Managed the establishment of two PE funds (telecom, software/hardware). Headed an eight-person investment team.

KGL INVESTMENT COMPANY / KGL HOLDING (Publicly traded transportation conglomerate), Kuwait Vice President Private Equity, 2004-2007

O Managed the establishment of one PE fund (infrastructure). Coordinated bidding for ports and airport concessions. Led the launch of corporate star-tups (3PL, Iand/air transport, ICT). Operational roles: M&As, divestments, reporting systems, governance improvement, talent recruitment and motivation (ESOPs), business strategy and execution.

EDUCATICN

THE WHARTON SCHOOL, UNIVERSITY OF PENNSYLVANIA, MBA Finance, Philadelphia, USA, 2004 THE LAU DER INSTITUTE OF MANAGEMENT, MA International Studies, Politics, Economy, Philadelphia, USA, 2004 NATIONAL Clvii AVIATION ACADEMY (ENAC), MS Aeronautical Engineering, Computer Science, France, 1995 MATH SUPERIEURE / MATH SPECIALE, BS Mathematics, Theoretical Physics, France, 1992

ADDITIONAL INFORMATION

O CFA Charterholder. Founding Member and Chair of the Kuwait CFA Society (‘08-’09) O Angel investor experience: WinOptics (software, Belgium) (‘Ol-sold ‘05), Obizco (telecom, Luxembourg) (‘04), CoolHunt.net

(fashion content, USA) (‘95), Knotstandard.com (fashion retail, Dubai, USA) (‘13), MondaGallery.com (art retail, Dubai) (‘13), Cinchona (ecommerce aggregator, London, 2021)

O Published several articles in international reviews about Microfinance, Strategic Planning and Corporate Entrepreneurship O Fluent French, Spanish, English. Basic German, Arabic, Italian. Traveled to 120+ countries worldwide

% THREE SEAS INITIATVE

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Schedule 5 [Power of Attorney]

POWER OF ATTORNEY

THE UNDERSIGNED, Ministry of Finance, with registered office at Suur-Ameerika 1, 10122 TALLINN,

Estonia, thereinafter referred to as the Shareholder”,

HEREBY APPOINTS

___________________

as ts special attorney, hereinafter referred to as the

“Attorney”, who accepts, to:

REPRESENT the Sharehoider at the annuai general meeting of the shareholders of Three Seas

Initiative investment Fund S.A. S1CAV-RA1F, a Luxembourg pubiic limited liability company (sociöt

anonyme) quaiifying as investment company with variable capital — reserved aiternative investment fund

(socit6 d’invesfissement ä capital variable — fonds d’investissement aIternatffrsetv) incorporated and

existing under the iaws of the Grand Duchy of Luxembourg, with registered office at 5, rue Jean Monnet,

L-2180 Luxembourg, registered with the Luxembourg Trade and Companies’ Register (Registre de

Commerce etdes Soci6ts) under number B234989, (the “Company”), which will be held on 17 May

2024, at 10 A.M. CEST, with the foliowing agenda:

AG EN DA

1) Removal of Ms Beata Urszula Daszyhska - Muzyczka, as member of the supervisory board of the Company, with effect as of the date of the Meeting;

2) Removal of Mr Pawel Karol Nierada, as member of the supervisory board of the Company, with effect as of the date of the Meeting;

3) Appointment of Mr Jaroslaw Dariusz Dbrowski, as candidate proposed by Bank Gospodarstwa Krajowego, to serve as member of the supervisory board of the Company for a period of six (6) years;

4) Appointment of Mr Bartosz Drabikowski, as candidate proposed by Bank Gospodarstwa Krajowego, to serve as member of the supervisory board of the Company for a period of six (6) years;

5) Appointment of the independent shareholders representative at the investment committee of the Company

6) Miscelianeous.

The Shareholder hereby giving and granting to the above Attorney fuli power and authorisation to do

and perform ali and each act or thing necessary for, or incidental to, the exercise of the powers herein

specified as fully to ali intents or purposes as might or couid be done by the undersigned itself if it

attended personaily and hereby ratifying and confirming ail and each act or thing that the above Attorney

shali lawfully do or perform, or cause to be done or performed, by virtue hereof.

The Shareholder undertakes to fuily indemnify the Attorney against ali claims, losses, costs, expenses,

damages or ja bility which the Attorney sustains or incurs as a resuit of any action taken by hirn in good

faith pursuant to this power of attorney including any costs incurred in enforcing this power of attorney.

The present power of attorney is granted for a period of three (3) rnonths from the date on which it is

executed.

The present power of attorney shali be exciusiveiy governed by Luxembourg Iaw and the Luxembourg

courts shall have exclusive jurisdiction.

Signed in

____________________________

on

_______________________

Ministry of Finance

By:

_____

Capacity: -

Signature: