AdvisoryBusiness A. Innovatus Capital Partners, LLC (“ICP”) is an investment adviser organized as a Delaware limited liability company that was formed in October 2015 and holds its principal place of business in New York, NY. Innovatus Capital Group, LP (“ICG”) is the managing member of ICP. ICP is the sole member of ABV Harvest, LLC (“ABV Harvest”) (collectively, ICP, ICG, ABV Harvest, the general partners to the Innovatus Funds (as defined below) and their officers and employees engaged in providing investment advisory services, “Innovatus” or the “Firm”), an affiliated investment adviser of ICP that relies on ICP’s registration as an investment adviser. David Schiff is the principal owner of ICG. B. Innovatus provides investment advisory services to pooled investment vehicles (such vehicles, the “Clients” or “Funds”). With respect to certain of the Funds (such Funds, the “ABV Harvest Funds” or “ABV Harvest Clients”), the Firm acts in a sub-advisory capacity with respect to the monitoring and management of the Funds’ existing portfolio assets and advises on their dispositions. In some cases, this is done on a discretionary basis. With respect to the other Funds (such Funds, the “Innovatus Funds”), Innovatus acts as the sole investment manager. Innovatus currently manages a flagship strategy (Funds under such strategy, the “Flagship Funds”) which spans a diverse range of sectors and asset types, a life sciences strategy (Funds under such strategy, the “Life Science Funds”) which targets investments in the life sciences and technology sectors, a real estate strategy which targets investments in the real estate sector (Funds under such strategy, the “Real Estate Funds”), a trade finance strategy (Funds under such strategy, the “Trade Finance Funds”) which target investments in the agricultural structured trade finance sector, a lower middle market value strategy (Funds under such strategy, the “Lower Middle Market Value Funds”) which targets investments across asset classes in the lower middle market sector, and the Cayman strategy (Fund under such strategy, the “Cayman Fund”) which spans a diverse range of sectors and asset types. Innovatus also advises certain clients that are organized for the benefit of certain of its officers and employees to invest side-by-side with or through the Innovatus Funds, and which may, from time to time, make direct investments. The Funds are subject to the investment objectives and strategies summarized below and further outlined in offering memoranda specific to each Fund, which include but are not limited to subscription agreements, offering memoranda and investment management agreements (such memoranda, “Governing Documents”). Flagship Funds The Flagship Funds generally seek to generate risk adjusted capital appreciation with low volatility and low correlation to the equity and fixed income capital markets, primarily by identifying distressed, disruptive, and growth opportunities across private debt and diversified asset-based income investments. Investment opportunities are uncovered based upon fundamental analysis and a deep understanding of asset values. Investments include, among other things, a range of domestic and international financial instruments as well as real and personal property, including, without limitation, secured and unsecured loans, asset-based loans, commercial and consumer receivables, leases, equipment, corporate securities, commodity lending, litigation claims, arbitration claims, leveraged loans, partnership interests, intellectual property, mortality-related assets, property and casualty insurance, project finance, infrastructure, trade finance, municipal securities and commercial and residential mortgage asset classes. The Flagship Funds will invest in the Life Sciences Funds, Real Estate Funds, Trade Finance Funds, and Lower Middle Market Value Funds and may invest in other strategy-specific pooled investment vehicles managed by Innovatus in the future. The Flagship Funds’ investments in other Funds are not levied an additional layer of management fees or performance-based fees relating to their investments in other Funds. Life Sciences Funds The Life Sciences Funds generally seek to generate risk adjusted capital appreciation by providing capital to life sciences companies in medical device, diagnostic or pharmaceutical industries, where the primary products supporting the collateral valuation are approved for use either in the U.S. or overseas. The Life Sciences Funds target companies whose products are commercial-stage or in the process of being commercialized in industries with high barriers to entry. The Life Sciences Funds may also selectively explore leasing opportunities in the medical technology industry. In addition, the Life Sciences Funds will opportunistically provide capital to technology-related companies with significant asset value, including with respect to one or more of the following aspects, intellectual property, commercial-stage products with reasonably long life cycles, high gross margin potential and high sales growth potential, targeting markets with high barriers to entry, strong equity sponsorship with significant available capital to invest, experienced management teams with demonstrated track record of prior product launches, and with a clear exit strategy. To facilitate the Life Sciences Funds’ investment objectives, the Life Sciences Funds may make investments in a variety of forms, including, without limitation: (i) direct debt investments into new and/or existing businesses; (ii) loans, leases or extensions of credit via commercial contract; (iii) royalty agreements or other contractual cash payment agreements; and/or (iv) warrants or other equity participation. Real Estate Funds The Real Estate Funds generally seek to generate current income and capital appreciation by creating a diversified portfolio of predominantly core and core plus U.S. commercial real estate properties in emergent suburban markets and applying financing techniques that enable the overall portfolio to emulate the investment characteristics of a high current cash flow portfolio with the flexibility to allow for upside on exit. In addition, the Real Estate Funds will achieve their strategy of creating predictable, long-term cash flows by (i) diversifying geographies at the Fund level with prioritization of geographies that exhibit positive long-term growth prospects, balanced supply/demand characteristics, demographic growth, existing and future infrastructure improvements and overall economy vitality and (ii) diversifying tenants

lessors and industry sectors at the property level to generate strong cash flow that is expected to create operational flexibility to stabilize tenancy and resiliency to changing market conditions. To realize the Real Estate Funds’ investment objectives, the Real Estate Funds will strive to consistently seek value and liquidity maximization options in response to initial investment business plans and the changing market conditions at both the property as well as the portfolio level. These include, but are not limited to, individual building sales, total portfolio sales, creation and sale of regional, sector and/or other sub-portfolios, and conversion to a real estate investment trust for a portion of or the entirety of the portfolio. Trade Finance Funds The Trade Finance Funds generally seek to provide structured trade finance loans to agricultural producers and processors of non-perishable products in Latin America, Eastern Europe, Africa and the Asia-Pacific region though other jurisdictions may be considered. Structured trade finance seeks to finance specific working capital or capex needs through self-liquidating loans, tying their repayment to the buyer of an underlying commodity. These buyers are typically investment grade commodity buyers, end buyers or strong regional participants. Structuring the loans as single trades or a series of trades, where strong investment grade buyers guarantee the repayment of the loan after the delivery of the product, acts as a significant commercial driver for the loans to self-liquidate, particularly in the event of a borrower default. The loans are over collateralized by the underlying commodity, mitigating commodity price exposure and significantly aligning the Trade Finance Fund’s interest as a lender with the borrowers’ interests to deliver the product as well as the end buyers’ interests to accept and pay for the product. This harmonious coexistence, coupled with the over collateralization of the loans, has resulted in historically low loss rates for the trade finance strategy. The Firm views lending as financing a physical trade or series of trades. Therefore, the primary focus when analyzing risk is (i) the likelihood that the trade will occur, or that the borrower can generate sufficient receivables through a series of trades, and (ii) setting collateral coverage ratios in terms of the maximum potential loss to the lender if the trade does not consummate. Expected features of the strategy include enhanced income with steady and predictable cash flows, improved risk adjust return, low volatility and high expected recovery rate, low correlation to other asset classes and transparency. Lower Middle Market Value Funds The Lower Middle Market Value Funds generally seek opportunities across asset classes in the lower middle market, investing in primarily in U.S.-based companies, with a particular focus on strong, compelling opportunities through the purchase of senior debt of lower middle market companies and, to a lesser extent, small-balance commercial real estate loans having limited downside and more predictable return outcomes. In addition, the Lower Middle Market Value Funds will seek to create well-balanced, stable, predictable cash flows by (i) using the following fund level considerations: target asset classes; “distressed to own” and “loan-to-own” strategies; and a “buy and build” approach; (ii) pursuing opportunities that have built- in downside protection and safeguards such as defensible market positions, competitive products, proprietary strategies, strong properties, and manageable capital structures; (iii) concentrating on off- market transactions, customer driven transactions, repeat partners, and situations with a limited buyer pool, (iv) using the following company level considerations: distressed company characteristics; entry price and terms; potential to gain control; duration of anticipated restricting efforts, including non- bankruptcy alternatives; and expected growth initiatives, and (v) beginning the deal process with an exit in mind. To realize the Lower Middle Market Value Funds’ investment objectives, the Lower Middle Market Value Funds will pursue an active exit strategy, with an average expected hold period of three to five years. The intrinsic nature of turnaround/value investing increases the possibility for rapid value creation as exit potential generally increases exponentially once a business is returned to profitability or situational distress is repaired. Cayman Fund The Cayman Fund generally seeks to generate risk adjusted capital appreciation with low volatility and low correlation to the equity and fixed income capital markets, primarily by identifying distressed, disruptive, and growth opportunities across private debt and diversified asset-based income investments. Investment opportunities are uncovered based upon fundamental analysis and a deep understanding of asset values. Investments include, among other things, a range of domestic and international financial instruments as well as real and personal property, including, without limitation, secured and unsecured loans, asset-based loans, commercial and consumer receivables, leases, equipment, corporate securities, commodity lending, litigation claims, arbitration claims, leveraged loans, partnership interests, intellectual property, mortality-related assets, property and casualty insurance, project finance, infrastructure, trade finance, municipal securities and commercial and residential mortgage asset classes. The Cayman Fund will invest in the Life Sciences Funds and Lower Middle Market Funds and may invest in other strategy-specific pooled investment vehicles managed by Innovatus in the future. The Cayman Fund’s investments in other Funds are not levied an additional layer of management fees or performance- based fees relating to their investments in other Funds. C. The Firm provides investment advisory services to the Funds in accordance with each Fund’s investment objectives and limitations. In some cases, this is done on a discretionary basis. Such investment objectives and limitations are outlined in each Fund’s respective Governing Documents. D. The firm does not participate in wrap fee programs. Innovatus manages approximately $1,687,822,732 in assets. $1,385,835,384 of Innovatus’ assets are attributable to the Innovatus Funds, which are managed on a discretionary basis and calculated as of December 31, 2023. $301,987,348 of Innovatus’ assets are attributable to the ABV Harvest Funds, which are managed on a non-discretionary basis and calculated as of December 31, 2023.