Sandglass Capital Advisors LLC (the “Adviser”) is organized as a Delaware limited liability company and is a private investment management firm focused on making investments in emerging and frontier markets globally. The Adviser was founded in 2013 and is owned by Sandglass Capital Management Limited. Genna Lozovsky serves as a Director of the Adviser. Maria Michelle Kelner serves as the Vice President of the Adviser. Sandglass Capital Management Limited (“SCML””), is organized as a Cayman Islands exempted company and is predominantly owned by an entity which is wholly owned by Genna Lozovsky. SCML serves as the service provider to several pooled investment vehicles listed below (each a “Fund” and together, the “Funds”) and has delegated all investment advisory responsibilities to the Adviser. SAM Sandglass Advisors Limited, a limited company formed under the laws of the Republic of Cyprus and Sandglass Capital Advisors (UK) Limited, a private limited company formed under the laws of England and Wales (the “Sub-Advisers”), each of which are owned by the SCML, provide investment research, portfolio management or other investment advisory services, and serve as sub-advisers to the Adviser. The Adviser and the Sub-Advisers, each a relying adviser, have together filed a single Form ADV. Accordingly the relying advisers are not separately registered as investment advisers with the SEC and are considered registered investment advisers by virtue of the Adviser’s umbrella registration with the SEC. The Adviser commenced operations in February 2013. The Adviser currently serves as the investment adviser for the following Funds: Sandglass Opportunity Feeder Fund (U.S.) LP (“SOF US Feeder”) and Sandglass Opportunity Feeder Fund (Cayman) Ltd, each of which is a “feeder” fund which invests all or substantially all of its assets through a common master fund, Sandglass Opportunity Fund L.P. (“SOF”); Sandglass Select Offshore Feeder Fund, L.P., a “feeder” fund which invests all or substantially all of its assets through a master fund, Sandglass Select Fund, L.P. (“Select Fund”); Sandglass Select Offshore Feeder Fund II, L.P., a “feeder” fund which invests all or substantially all of its assets

through a master fund, Sandglass Select Fund II, L.P. (“Select Fund II”) Sandglass Petrus Opportunity Fund L.P. (“Petrus Fund”), a fund of one. In addition, the Adviser currently serves as a sub-manager to a separately managed account (the “SMA”) of an institutional investor. The Adviser may in the future provide investment advisory services to other private investment funds, employee and co-investment vehicles, other alternative investment vehicles, and institutional investors in other separately managed accounts (“SMAs”). The Funds and the SMA are collectively referred to this Brochure as the “Clients” as applicable. The Adviser tailors its advisory services to the specified investment mandates of its Clients, consistent with the Clients’ governing documents, which may include, among other things, a private placement memorandum, limited partnership agreement or limited liability company agreement, management or investment advisory agreement, and subscription agreement (individually and collectively, the “Governing Documents”). The Adviser does not tailor advisory services to the individual needs of investors in the Funds (“Fund Investors”). Any Client, Fund Investor or prospective Client or investor should closely review the applicable Governing Documents with respect to, among other things, the terms, conditions, and risks of investing. As of December 31, 2023, the Adviser had approximately $414,426,600 in Client regulatory assets under management, all of which were managed on a discretionary basis. The Adviser does not participate in wrap fee programs. This Brochure does not constitute an offer to sell or solicitation of an offer to buy any securities. The securities of the Funds are offered and sold on a private placement basis under exemptions promulgated under the Securities Act of 1933, as amended, and other exemptions of similar import under the U.S. state laws and laws of other jurisdictions where an offering may be made. Investors in the Funds generally must be both “accredited investors” as defined in Regulations D, and “qualified purchasers,” as defined in the Investment Company Act of 1940, as amended, or otherwise qualified.