General Information Mercato Management, LLC (the “Adviser”) is a Delaware limited liability company organized in 2006. Fund Investment Advisory Services The Adviser provides investment advisory services to certain pooled investment vehicles (each a “Fund” and collectively, the “Funds”) that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). As the investment adviser to each Fund, the Adviser identifies investment opportunities for, and participates in the acquisition, management, monitoring and disposition of investments of, the applicable Fund. The following related persons of the Adviser, each of which is under common control with the Adviser, serve as the general partners of the Funds (the “General Partners”): (i) Mercato Partners, LLC; (ii) Mercato Partners Growth II GP, LLC; (iii) Mercato Partners Growth III GP, LLC; (iv) Mercato Savory Fund IV GP, LLC; (v) Prelude Fund II GP, LLC; and (vi) Mercato Partners Traverse IV GP, LLC. In providing services to the Funds, the Adviser and the General Partners seek to tailor their services to the needs of the Funds. Traverse Funds. The Adviser provides discretionary investment advisory services to the following Funds: (i) Mercato Partners, L.P.; (ii) Mercato Partners QP, L.P.; (iii) Mercato Partners Growth II, L.P.; (iv) Mercato Partners Growth Affiliates II, L.P.; (v) Mercato Partners Growth AI II, L.P.; (vi) Mercato Partners Growth III, L.P.;

(vii) Mercato Partners Growth AI III, L.P.; Mercato Partners Traverse IV, LLC; and the Mercato Partners Traverse Affiliates IV, L.P. (the “Traverse Funds”). For the Traverse Funds, the Adviser focuses on lower middle market, growth stage companies, such as technology and branded consumer products, primarily located in geographies underserved by growth equity capital providers. Savory Fund. The Adviser provides discretionary investment advisory services to: (i) Mercato Savory Fund IV, LP; and (ii) Mercato Savory Fund IV QP, LP (the “Savory Funds”). The Adviser focuses on unlevered controlling equity positions, creating value through revenue growth execution and operational efficiency, and middle market mergers and acquisitions liquidity. This focus is on manufacturing, technology, and brands all relating to the food and beverage sector. Prelude Fund. The Adviser provides discretionary investment advisory services to the Prelude Fund II, LP. (the “Prelude Fund”). For the Prelude Fund, the Adviser focusses on partnerships with early stage companies that are developing technology critical to their customers operations. Prelude companies have demonstrated product-market-fit and have deep customer relations obtained through product leadership and nimble execution. Investment Discretion All the Adviser’s investment advisory services are provided on a discretionary basis. As of December 31, 2022, the Adviser had approximately $1.34 billion in assets under management. Principal Owners Gregory H. Warnock is the principal owner of the Advisor.