MICHAEL SARRIS - MEMBER OF THE INVESTMENT COMMITTEE

Mr. Michalis Sarris shall be a general voting member of the investment committee of Cygnator Fund RAIF V.C.I.C. Ltd. The official title of Mr. Sarris is “Voting Member” and Mr. Sarris shall report directly to Mr. Panos Marcoullis who is the process coordinator of the investment committee of Cygnator Fund RAIF V.C.I.C. Ltd.

The responsibility of Mr. Sarris is, to the best of his ability, to advise GMM Global Money Managers AIFM Ltd., who is the external manager of Cygnator Fund RAIF V.C.I.C. Ltd., on the degree to which the investment process was adhered to as regards the strike price concerns of immovable assets under consideration for acquisition by Cygnator Fund RAIF V.C.I.C. Ltd. Mr. Sarris as a voting member of the investment committee in essence acts as a member of an advisory board, having no executive authority to enact decisions of any kind.

The value added by Mr. Sarris falls under (a) his capacity as an Economist for the World Bank (1975-2005) where in the final years of his tenure there he held the position of Department Director in the field of economic policy advice and project finance and (b) his capacity as the former Minister of Finance of the Republic of Cyprus (2005-2008) as well as his appointment as the Chairman of the Board of Directors of the Cyprus Popular Bank (2012).

Mr. Sarris is a graduate of the London School of Economics (class of 1967) with a BSc Degree in Economics. Thereafter he was awarded a Masters Degree in Economics (class of 1969) and he was also awarded a PhD from the same university (class of 1972) with a thesis in Macroeconomics.

In the past 5 years Mr. Sarris has not entered into business relationships or had counterparties which moving forward as a voting member of the investment committee of Cygnator Fund RAIF V.C.I.C. Ltd. Those engagements shall need to be disclosed as conflicts of interest.