A. The Adviser Taylor Derrick Capital, L.L.C. (the “Adviser”) is a limited liability company organized in March, 2011 under the laws of the State of Utah. The Adviser has adopted a holding company structure pursuant to which the principal owner of the Adviser is TDC Holding, LLC, a Delaware limited liability company. The holding company is owned primarily by Derrick Development, Inc., a Utah corporation, which is owned solely by Rocky Derrick, the Managing Partner of the Adviser. Minority owners of the holding company consist of key management of the Adviser, including Andrew Menlove, Partner | Operations, Carie McNeil, Partner | Investor Relations, Nick Etherington, Partner | Underwriting & Originations and Tally Ringwood, Partner | Finance. The Adviser provides investment advisory services to the following fund clients in its capacity as noted below: i. the Adviser is the investment manager of the Mountain West Debt Fund, LP, a Delaware limited partnership (the “Debt Fund”), and its subsidiary, Mountain West REIT, LLC, a Delaware limited liability company (the “REIT Sub”). The REIT Sub was formed as a real estate investment trust and subsidiary of the Debt Fund. The Debt Fund, organized for the purpose of investing in real estate secured debt instruments, conducts its business primarily through the REIT Sub. ii. the Adviser is the general partner and investment manager of MW Equity Fund I, LP, a Delaware limited partnership (“MWEF 1”), organized for the purpose of investing in real estate investments. iii. the Adviser is the investment manager of MWEF 3 NWQ, LP, a Delaware limited partnership (“MWEF 3”), organized for the purpose of investing in real estate investments in northern Utah. iv. the Adviser is the investment manager of TDEF 5 MHOZ, LP, a Delaware limited partnership (“TDEF 5”), organized as a qualified opportunity fund for the purpose of investing in a qualified opportunity zone business (the “QOZB”) that acquires, develops and manages manufactured housing properties located throughout the United States. v. the Adviser is the investment manager of TDEF 6 MAYFLOWER, LP, a Delaware limited partnership (“TDEF 6”), organized for the purpose of investing in real estate investments in northern Utah. vi. the Adviser is the investment manager of TD Equity Fund 7, LP, a Delaware limited partnership (“TDEF 7”), organized for the purpose of investing in real estate investments in Utah and possibly in other states located in the Western and Intermountain regions of the United States. vii. the Adviser is the investment manager of TDEF 8 MH, LP, a Delaware limited partnership (“TDEF 8 MH”), organized for the purpose of investing in the acquisition, development and management of manufactured housing communities throughout the United States. viii. the Adviser is the investment manager of TDEF 9 AZ, LP, a Delaware limited partnership (“TDEF 9”), organized for the purpose of investing in real estate investments in Arizona. ix. the Adviser is the investment manager of TDEF POWER RANCH, LP, a Delaware limited partnership (“TDEF Power Ranch”), organized for the purpose of investing in real estate investments in Arizona. x. the Adviser is the investment manager and sole member of Mountain West Notes, LLC, a Utah limited liability company (“MWN”), organized for the purpose of making secured loans to the Debt Fund. xi. the Adviser is the investment manager and sole member of Mountain West Notes QP, LLC, a Utah limited liability company (“MWN QP”), organized for the purpose of making secured loans to the Debt Fund. The foregoing fund clients are collectively referred to in this Brochure as the “Investment Funds” and individually as an “Investment Fund.” The Adviser also provides limited, non-discretionary advisory services to two clients, each of which is a non-affiliated, non-sponsored private fund (collectively, the “Non-Affiliated Clients” and,

individually, a “Non-Affiliated Client”). The Non-Affiliated Clients are managed by a family office which is also unrelated and not affiliated with the Adviser. B. Investment Advisory Services The Adviser provides discretionary investment advisory services and performs administration services for the Investment Funds, including research, underwriting and investment direction. The Adviser may form additional entities and partnerships in the future and may manage the investments of those entities and partnerships. The offering materials for certain of the Investment Funds contemplate that there may be parallel funds, which would be expected to invest in assets side-by-side on a pro-rata basis (based upon capital commitments) with the respective Investment Funds. Generally, parallel funds would be established to accommodate specific tax or legal compliance issues impacting certain types of investors. To date, the Adviser has not created a parallel fund as such term is used in the applicable offering materials, other than (i) the formation of MWN QP which operates as a parallel fund to MWN in raising debt capital from investors (“qualified purchasers”) and then lending that capital to the Debt Fund; and (ii) the formation of TDEF 8 MHQP which operated as a parallel fund to TDEF 8 MH before being combined with TDEF 8 MH in December, 2022. The advisory services provided by the Adviser to the Investment Funds are tailored to the investment objectives, strategies and limitations described in each Investment Fund’s respective offering materials and operating agreement or limited partnership agreement, as applicable. Below is a summary of the general objective for each Investment Fund:
• It is the objective of the Debt Fund and the REIT Sub to invest in a diversified portfolio of real estate secured debt.
• It is the objective of MWN to raise capital through issuances of debt securities for the purpose of making secured loans to the Debt Fund to invest in real estate secured debt instruments.
• It is the objective of MWN QP to raise capital through issuances of debt securities for the purpose of making secured loans to the Debt Fund to invest in real estate secured debt instruments.
• It is the objective of MWEF 1 to invest in a diversified portfolio of real estate equity investments.
• It is the objective of MWEF 3 to invest in a targeted portfolio of real estate equity investments.
• It is the objective of TDEF 5 to invest in a targeted portfolio of real estate equity investments.
• It is the objective of TDEF 6 to invest in a targeted portfolio of real estate equity investments.
• It is the objective of TDEF 7 to invest in a targeted portfolio of real estate equity investments.
• It is the objective of TDEF 8 MH to invest in a targeted portfolio of real estate equity investments.
• It is the objective of TDEF 9 to invest in a targeted portfolio of real estate equity investments.
• It is the objective of TDEF Power Ranch to invest in a targeted portfolio of real estate equity investments. The Adviser does not provide investment advisory services to the respective members, limited partners, or investors of the Investment Funds. The Adviser does not participate in “wrap fee programs.” With respect to the Non-Affiliated Clients, the Adviser provides limited, non-discretionary advisory services. These services include oversight and consultation regarding existing investments of the Non-Affiliated Clients in the QOZB. As of December 31, 2023, the amount of client assets managed by the Adviser on a discretionary basis was $770,436,690. Because the Adviser does not provide continuous and regular supervisory or management services to the Non-Affiliated Clients, the assets of these clients are not included in the Adviser’s assets under management.