PANOS MARCOULLIS - MEMBER OF THE INVESTMENT COMMITTEE

Mr. Panos Marcoullis shall be a general voting member of the investment committee of Cygnator Fund V.C.I.C., Ltd, as well its process coordinator. In addition Mr. Marcoullis shall serve on the “Sub-Committee for Strike Price Concerns” and the “Sub-Committee for Construction Concerns”. The official title of Mr. Marcoullis is “Voting Member”. Mr. Marcoullis shall report directly to the chairman of the investment committee on the deliberations of the two sub-committees.

The responsibility of Mr. Marcoullis is, to the best of his ability, to advise GMM Global Money Managers AIFM, Ltd., which is the manager of Cygnator Fund V.C.I.C., Ltd. on the degree to which the investment process was adhered to as regards the strike price and as-built construction concerns of immovable assets under consideration for acquisition by Cygnator Fund V.C.I.C., Ltd. Mr. Marcoullis as a voting member of the investment committees 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. Marcoullis falls under (a) his capacity as a project manager to organize the work effort that needs to be delivered to GMM Global Money Managers AIFM, Ltd. as well as (b) his technical expertise in construction and strike price matters.

Mr. Marcoullis is a graduate of the University of Michigan (Class of 2001) with an undergraduate degree in Political Science and Economics. He was awarded a Masters Degree from George Washington University (Class of 2005) in the field of Project Management. Thereafter he was also awarded a Masters Degree from George Washington University (Class of 2006) in the field of Information Technology. He has lived and worked in the Republic of Cyprus since 2007, working as a project management consultant.

In the past 5 years Mr. Marcoullis may have entered into business relationships or had counterparties which moving forward as a member of the investment committee of Cygnator Fund V.C.I.C., Ltd. those engagements shall need to be disclosed as conflicts of interest. This includes and is not limited to the legal entities: Lois Builders, Iacovou Brothers, Leptos Estates, Armonia Estates, Neapolis Smart Eco City, Cybarco Constructions, Lanitis Golf, the Metropolitan of Kykkos and the Metropolitan of Limassol. A full list of potential conflicts of interest is available upon request.