GPI Capital, L.P., a Delaware limited partnership and a registered investment adviser, and its affiliated investment advisers provide investment advisory services to investment funds privately offered to qualified investors in the United States and elsewhere. GPI LP commenced operations in February 2016. GPI LP’s current clients include GPI Capital Global Partnership Investing Fund I LP, GPI Capital Global Partnership Investing Fund I AIV LP, GPI Global Partnership Investing Fund I-A LP, GPI Capital Guardian LP, GPI Capital Guardian II LP, GPI Capital Guardian III LP and GPI Capital Equity Opportunities Fund II LP (which, together with any future private investment funds to which GPI LP or its affiliates provide investment advisory services, are referred to herein collectively, as the “Funds” and each, a “Fund”). The following entities are affiliated with GPI LP:
• GPI GP LP, GPI GP II LP and GPI Guardian GP LP (each, a “General Partner,” and together with any future Fund general partners affiliated with GPI LP, the “General Partners,” and the General Partners together with GPI LP and their affiliated entities, “GPI” or the “Adviser”). The General Partners are special purpose vehicles and not relying advisers, as described in a January 18, 2012 letter from the Office of Investment Adviser Regulation, Division of Investment Management, to the American Bar Association, Business Law Section. The General Partners operate as a single advisory business together with GPI LP; as such, this Brochure also describes the business practices of the General Partners. The Funds are private investment funds that primarily seek to purchase non-controlling, minority stakes in a limited number of operating companies, generally referred to herein as “portfolio companies.” The Adviser’s investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and achieving dispositions for such investments. Investments are made in non-public companies and public companies. From time to time, where such investments consist of portfolio companies, the senior principals or other personnel of the Adviser may serve on such portfolio companies’ respective boards of directors or otherwise act to influence control over management of portfolio companies in which the Funds have invested. The Adviser’s advisory services for each Fund are detailed in the applicable private placement memoranda or other offering documents (each, a “Memorandum”), investment management agreements and limited partnership or other operating agreements (each, a “Partnership Agreement”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.”

Investors in the Funds participate in the overall investment strategy for the applicable Fund but may be excused or excluded from a particular investment due to legal, regulatory or other agreed-upon characteristics or circumstances pursuant to the relevant Partnership Agreement, including unique investment parameters that apply only to a specific Fund. The Funds or the General Partners may enter into side letters or other similar agreements with certain investors that have the effect of establishing rights (including economic or other terms) under, or altering or supplementing the terms of, the relevant Partnership Agreement with respect to such investors. Additionally, from time to time, the Adviser may provide (or agree to provide) certain investors or other persons, including the Adviser’s personnel and/or certain other persons associated with the Adviser (to the extent not prohibited by the applicable Partnership Agreement), co-investment opportunities (including the opportunity to participate in co-invest vehicles) that will invest in certain portfolio companies alongside a Fund. Such co-investments typically will involve investment and disposal of interests in the applicable portfolio company at the same time and on the same terms as the Fund making the investment, but this may not always be the case and the Adviser may, for example, dispose of securities held by co-investment vehicles on a non pro rata basis in relation to the holdings of such securities by Funds that it manages. In addition, from time to time, for strategic and other reasons, a co-investor or co-invest vehicle may purchase a portion of an investment from a Fund. Any such purchase from a Fund by a co-investor or co- invest vehicle generally would occur relatively shortly after such Fund’s completion of the investment. Where appropriate, and in the Adviser’s sole discretion, the Adviser is authorized to charge interest on the purchase to the co-investor or co-invest vehicle, and to seek reimbursement to the relevant Fund for related costs. However, to the extent such amounts are not so charged or reimbursed, they generally will be borne by the relevant Fund. In certain circumstances, it is also possible that where a particular investment opportunity is determined to be unsuitable for the Funds, a co-invest vehicle may be established to make such investment and the Advisor may provide management services to such co-investment vehicle. As of December 31, 2023, GPI LP managed $768,023,887 in client assets on a discretionary basis and $0 in client assets on a non-discretionary basis. GPI Capital, LLC, a Delaware limited liability company, acts as the general partner of GPI LP. GPI LP is ultimately controlled by William T. Royan, Julian Aleksander Migon and Khai Ha.