Decisions of the Investment Committee on December 9, 2024

In accordance with Article 5 and based on Article 9, paragraphs 9.1 and 9.6 of Law No. 04/L-101, amended and supplemented by Law 04/L-115, Law 04/L-168, Law 05/L-116, and Law 07/L-016, as well as in accordance with Article 13, Article 33, and paragraph 1 of Article 41 of the Statute of KPST, and with the Statement of Investment Principles (SIP), the Investment Committee (IC) of the KPST Governing Board, on December 9, 2024, made the following decisions:

1. To increase the target weight of passive equities to 45% of the Standard portfolio, by investing €30 million in the Vanguard GSI fund (IE00B03HD316).

2. To increase the exposure to real assets in the Standard portfolio, by investing €8 million in the Global X Data Center & Digital Infrastructure ETF (US37954Y2366) and an additional €8 million in the iShares US Digital Infra & Real Estate ETF (US4642875318).

3. To increase the target weight of passive equities to 30% in the Intermediate portfolio, by investing €8 million in the S&P 500 €H ETF (IE00BRKWGL70).

4. Within the Intermediate portfolio, to sell €8 million from the iShares MSCI EU Value ETF (IE00BQN1K901) and invest €8 million in the Vanguard Global Stock Index.

5. To tactically invest €18 million in the Intermediate portfolio through the iShares Residential Real Estate ETF (US4642885622).

6. Investment financing will be covered by available cash in the CBK, to the extent possible, with the remainder from the Amundi Euro Liquidity money market fund.