Wave Digital Assets LLC (the “Adviser,” “Wave” or the “Firm”) offers investment advisory services on a discretionary basis to separately managed entities, pooled investment vehicles (together the “Funds”) and separately managed accounts (each an “Account” and together with the Funds, the “Clients”). The Funds are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) and their securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). In accordance with the Clients’ respective investment objectives, investments are generally made pursuant to venture capital and digital asset investment strategies in early-stage companies doing business in the blockchain and cryptocurrency sectors, investments in native tokens, Stablecoins, altcoins, security tokens, trade tokens, digital assets, synthetic assets, cryptocurrencies and any stored value within distributed ledger technologies (collectively “Digital Assets”), in certain lending, staking and derivatives strategies as well as the long-term holding of real assets, including whiskey barrels. The Adviser’s advisory services consist of investigating, identifying and evaluating investment opportunities, structuring, negotiating and making investments on behalf of the Clients, managing and monitoring the performance of such investments and disposing of such investments. Clients have the ability to place reasonable restrictions on investing in certain types of assets. The Adviser’s advisory services

do not include financial planning, tax and legal services. Investment advice is provided directly to the Funds and not individually to the investors in the Funds (“Investors"). The Adviser provides investment services to each Client in accordance with the relevant organizational documents of such Client or separate investment management agreement, as applicable (together the “Organizational Documents”). Wave Digital Assets LLC was formed in November 2018. Wave Digital Assets Holdings LLC is the sole owner of Wave Digital Assets LLC. David Siemer is the CEO, Manager, Board Member, and a shareholder of Wave Digital Assets Holdings LLC. The Adviser has a total value of $335,844,190 of regulatory assets under management, calculated as of December 31, 2023 for Clients, all of which is managed on a discretionary basis. Notes Regarding Part 1A of the Adviser’s Form ADV: For the avoidance of doubt, the Adviser has completed its Form ADV in a manner that includes dollar amounts attributable to the digital assets it manages, regardless of whether it believes the underlying assets may currently be, or whether they are later determined to be, securities under US Federal Securities Laws, Rules, Regulations, or other guidance, including, without limitation, in its Regulatory AUM as reported in Item 5 of Form ADV Part 1A, Part 2A and in Schedule D forms provided for pooled accounts, as well as its inclusion of Private Funds that solely manage digital assets in Item 7. Other Information The Adviser does not participate in or sponsor a wrap fee program.