Below are certain key definitions used in this brochure. Term Definition “MLM”, “Adviser”, “we”, “us”, or “our” Mount Logan Management, LLC, registered with the SEC as an investment adviser, a subsidiary of Mount Logan “Mount Logan Capital” Mount Logan Capital Inc., a Canadian public company “Mount Logan” Mount Logan Capital, together with its subsidiaries “BCPAL” BC Partners Advisers L.P., a Delaware limited partnership, affiliate of MLM, registered with the SEC as an investment adviser “BC Partners” BCPAL, together with its affiliates and other entities with whom it is under common control, including Mount Logan and the Adviser “Sierra Crest” Sierra Crest Investment Management LLC, registered with the SEC as an investment adviser, an indirect subsidiary of BCPAL “BDC” A non-diversified, closed-end management investment company that has elected to be regulated as a business development company under the 1940 Act that is managed by MLM “CLOs” Collateralized loan obligations backed by debt obligations and similar assets for which MLM acts as the collateral manager. As referred to herein, the term “CLOs” may include short-term and long-term warehouse credit or repurchase agreement facilities entered into to finance the preliminary accumulation and “ramp-up” of assets comprising the initial pool of collateral securing any such issuer, as well as other warehouse, repurchase or other credit facilities and/or special purpose vehicles. “Sub-Advised Closed-End Fund” A non-diversified, closed-end management investment company registered under the 1940 Act that operates as an interval fund, for which MLM acts as a sub-adviser. “Advised Closed-End Fund” A non-diversified, closed-end management investment company registered under the 1940 Act that operates as an interval fund, for which MLM acts as investment adviser. “Closed-End Funds” Advised Closed-End Fund and Sub-Advised Closed- End Fund “Regulated Funds” The BDC and the Closed-End Funds “Insurance Company” An insurance company, a wholly-owned subsidiary of Mount Logan Capital, for which MLM acts as an investment adviser and which has appointed one or more third-party sub-advisers to manage portions of its assets. “MLM Private Funds” Privately offered investment funds exempt from registration under the 1940 Act advised by MLM “MLM Funds” Includes the BDC, the CLOs, the Insurance Company, the Closed-End Funds, and the MLM Private Funds “Clients” Includes the MLM Funds and any other clients of MLM “BC Partners Credit Clients” Credit Funds, Credit Accounts, Credit SIFs and the Insurance Company “Credit Business” BC Partners’ dedicated credit business “Private Equity Business” BC Partners’ private equity business “Real Estate Business” BC Partners’ real estate business focusing on pan- European opportunistic investments managed by an affiliate of BCPAL “PE Funds” Investment vehicles organized by BC Partners and its affiliates as part of its Private Equity Business “Credit Funds” (i) MLM Funds, (ii) private funds exempt from registration under the 1940 Act and registered investment companies advised by BCPAL or Sierra Crest and (iii) collateralized loan obligations for which either BCPAL or Sierra Crest acts as collateral manager “Credit Accounts” Separate accounts managed by the Adviser, BCPAL or Sierra Crest “Credit SIFs” Single-investor funds managed by the Adviser, BCPAL or Sierra Crest “BC Partners Funds” or “Funds” PE Funds and Credit Funds “SEC” The U.S. Securities and Exchange Commission “Advisers Act” The Investment Advisers Act of 1940, as amended “1940 Act” The Investment Company Act of 1940, as amended The Advisor: The primary business of MLM is to provide investment management services to (i) MLM Private Funds, (ii) a non-diversified closed-end management investment company that has elected to be regulated as a business development company, (iii) an insurance company that is a wholly-owned subsidiary of Mount Logan Capital, (iv) non-diversified closed-end management investment companies registered under the 1940 Act that operate as interval funds, and (v) to act as the collateral manager to CLOs. MLM was organized in 2020 as a Delaware limited liability company and is registered with the SEC as an investment adviser under the Advisers Act. Consistent with the terms of the investment management agreement between MLM and the Insurance Company, MLM has engaged one or more sub-advisers to provide sub-investment management investment services to the Insurance Company. Affiliates of MLM serve as the general partners or managing members of the MLM Private Funds (each and as applicable, a “General Partner” or “Managing Member”); however, the investment management services are performed by MLM pursuant to an investment advisory agreement by and between MLM and the respective Client. Mount Logan: MLM is a wholly-owned subsidiary of Mount Logan. Mount Logan is a Canada-based asset manager created to source and execute on credit investment opportunities in North America. Mount Logan Capital holds and actively manages

and monitors a portfolio of loans and other investments with credit-oriented characteristics. Mount Logan Capital intends to actively source, evaluate, underwrite, monitor, and primarily invest in additional loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle. In addition to its ownership interest in MLM, Mount Logan holds a minority ownership interest in Sierra Crest, a registered investment adviser that manages or sub-advises various funds focused on credit investment opportunities. BC Partners: “BC Partners”, globally, is composed of BCPAL and other affiliates of BCPAL. BCPAL was founded in 1986 and, together with its affiliated general partners of the PE Funds and other affiliates provide advisory services to and/or receive advisory fees in respect of the PE Funds and other clients of the Private Equity Business via its sub-investment advisory relationship with BCP Partners LLP (UK), an exempt reporting adviser. BCPAL has a minority equity investment in Mount Logan Capital and its affiliate BC Partners Investment Holdings Limited has a majority equity investment in Sierra Crest. The Private Equity Business has a long history making investments in control-oriented equity positions in businesses across Europe and North America through its private equity business. It generally focuses on buy-outs and targets investments in control equity positions in businesses across Europe and in North America. Advisory personnel of the Adviser, all of whom are involved with the Credit Business, are not involved in the Private Equity Business. BC Partners is primarily composed of three business lines: (i) the Private Equity Business, (ii) the Credit Business and (iii) the Real Estate Business. MLM’s advisory business is part of the Credit Business. BCPAL provides personnel to MLM through a resource sharing agreement between the entities (the “Sharing Agreement”). BC Partners Credit Business MLM provides investment advisory services to Clients as part of the Credit Business. The Credit Business is a dedicated credit business focusing on making investments utilizing a variety of investment strategies and themes primarily in developed countries, with a focus on North America and Europe. It provides investment advisory services to clients through BCPAL and Sierra Crest, in addition to MLM. The investment vehicles by which clients receive these advisory services include: (i) private funds, (ii) business development companies regulated under the 1940 Act, (iii) separately managed accounts, (iv) interval funds regulated under the 1940 Act, (v) an insurance company, and (vi) collateralized loan obligations for which the Adviser or an affiliate acts as loan manager. The Credit Business’ advisory services typically consist of investigating, identifying and evaluating investment opportunities, structuring, negotiating and making investments on behalf of the Credit Clients, managing and monitoring the performance of such investments and disposing of such investments. The investment team in respect of the Credit Business (the “Credit Investment Team”) follows investment processes with a view towards achieving what it believes to be consistent and repeatable results. MLM MLM provides investment advice to Clients and not individually to the limited partners, members, or underlying investors in Clients. The assets of each Client are managed in accordance with the terms of the relevant limited partnership agreement (“LPA”), investment advisory agreement, investment sub-advisory agreement, prospectus, indenture, collateral management agreement, and other organizational documents with respect to such Client (collectively, the “Governing Documents”). In our capacity as collateral manager to the CLOs, we control the management of the collateral supporting certain debt obligations issued by the CLOs. The collateral generally consists of debt obligations, secured claims, any equity securities acquired as part of a unit consisting of both a debt obligation and an equity security, certain derivative instruments, and, rarely, unsecured claims. We perform numerous administrative and advisory functions with respect to the collateral, including selecting the portfolio of collateral and instructing the trustee with respect to any acquisition, disposition, or reinvestment or proceeds of the collateral. Our ability to invest a CLO’s assets is constrained by the portfolio quality criteria and asset and income coverage tests established in the indenture pursuant to which the CLO’s securities are issued and in any other relevant Governing Documents. As of December 31, 2023, the Adviser managed a total of $2,086,814.905 of regulatory assets under management, all of which on a discretionary basis. Regulatory assets under management, refers to the gross amount of assets under management without subtracting out any liabilities.12