SRC, a Delaware limited liability company, is an SEC-registered investment adviser that was founded in January 2012 with its principal place of business in Houston, Texas. SRC is led by Managing Partners Benjamin A. Stamets and Joshua L. Batchelor (the “Principals”), each of whom is a principal owner of the Firm. SRC provides investment management and advisory services solely to affiliated private equity funds (each a “Fund,” and collectively, the “Funds”) and their respective co-investment vehicles, parallel funds and alternative investment vehicles. SRC’s purpose and objective is to generate long-term capital appreciation by targeting private equity or equity-like investments in companies primarily engaged in the lower middle-market segment of the onshore North American upstream oil and gas sector. The Funds include Sage Road Energy I, LP, Sage Road Energy II, LP and SRC Banner Holdings, LLC (a co-investment vehicle related to Sage Road Energy I, LP). The general partner or manager of each Fund (each a “General Partner,” and collectively, the “General Partners”) is an entity controlled by SRC. Each General Partner, together with the Principals and certain investment professionals of SRC, directly or through one or more affiliated entities, will invest in each of the Funds. The General Partners engage the Management Company to manage the activities of the Funds and their respective co-investment vehicles, parallel funds and alternative investment vehicles. SRC is managed by an experienced team of senior investment professionals who have extensive backgrounds in the private equity and energy industries. Led by the Principals, the SRC team is composed of investment professionals with many years of collective energy and private equity experience. SRC believes the composition and continuity of its team provide the Firm with a sustainable competitive advantage and an extensive network of industry relationships. The SRC team has a demonstrated ability to source and execute new investments and manage a portfolio of operating companies, having worked on numerous investments over the past two decades at both SRC and prior firms. The experience and specialization of the SRC investment team enables the Firm to play a decisive role in portfolio company management and operations while maintaining perspective on strategic positioning, valuations, financing parameters and exit/monetization potential. For its Funds, SRC performs in-depth due diligence regarding proposed investments, structures and evaluates platform acquisitions and add-on acquisitions to portfolio companies, works closely with portfolio company management to provide strategic operating and financial advice, examines and implements succession planning, and identifies multiple exit options prior to an initial investment. SRC investment professionals are typically appointed as board members of portfolio companies in which a Fund has an interest. SRC investment professionals closely monitor the business activities of the portfolio companies of each Fund and frequently provide management with strategic advice and access to industry resources. Co-Investments The Funds may also have related investment vehicles, including alternative investment structures and co-investment vehicles. Subject to the terms of the Funds’ governing documents, SRC may in its sole discretion

give certain persons, including investors or third parties, an opportunity to co-invest in particular portfolio investments alongside one or more of the Funds. Co-investment partners may include limited partners of the Funds, employees or affiliates of SRC, financing sources, portfolio company management team members, and others. In addition to the aforementioned co-investment vehicles, co-investors also may be offered an opportunity to invest directly in a portfolio company. Allocation of any such opportunities may create a conflict of interest as they are, by nature, limited and participation is not possible for all investors in the Funds. Lock-Ups Except as set forth in a respective Fund’s limited partnership agreement, an investor in any of the Funds generally may not rescind any part of its capital commitment or otherwise withdraw from any of the Funds. Private equity fund investing is appropriate only for those with sufficient resources to have capital locked up for long periods of time and who are able to bear the risk of significant losses. Investors in each Fund should refer to the respective Fund’s limited partnership agreement for complete information regarding lock-ups and penalties or other consequences for failure to fulfill capital calls made by the Fund. Side Letters SRC or the applicable General Partner, as appropriate, has and may in the future, waive or modify certain terms (including economic or other terms) of investment for certain large or strategic investors in side letters or otherwise, in its sole discretion, including but not limited to, co-investment opportunities, increased Fund and portfolio company transparency, reduced management fees or performance fees, and more frequent or varied formats or modes of portfolio reporting. Important Additional Considerations SRC does not tailor advisory services to the individual or particular needs of the investors in the Funds. Such investors accept the terms of advisory services as set forth in each respective Fund’s offering documents. The Firm has broad investment authority with respect to the Funds and, as such, investors should consider whether the investment objectives of the Funds are in line with their individual objectives and risk tolerance prior to investment. The information provided herein merely summarizes the detailed information provided in each Fund’s offering and organizational documents. Existing investors in the Funds and prospective investors in any new Fund launched by SRC should be aware of the substantial risks associated with investment as well as the terms applicable to such investment. These risk factors and other detailed information are provided in each respective Fund’s offering documents, limited partnership agreement and other organizational documents. None of the Funds are required to register under the Securities Act of 1933 or the Investment Company Act of 1940 in reliance upon certain exemptions available to issuers whose securities are not publicly offered. SRC manages each Fund on a discretionary basis in accordance with the terms and conditions of such Fund’s offering documents, limited partnership agreement and other organizational documents. Assets Under Management As of December 31, 2023, SRC had $182,527,714 in discretionary assets under management. SRC does not manage any assets on a non-discretionary basis.