CRG FM, a Delaware limited liability company, commenced operations in June 2020 and has been registered with the SEC since July 2022. CRG FM is principally owned by the Robert G. Clark Revocable Living Trust, Shawn H. Clark Revocable Trust, and Christopher P. McKee Revocable Trust. Robert Clark, Shawn Clark and Christopher McKee act as trustees to the aforementioned trusts. CRG FM is an investment management firm that provides advisory services on a discretionary basis to privately offered pooled investment vehicles (each, a “Fund” and collectively, the “Funds” or “Clients”). Each Fund is intended for investment by certain investors (collectively the “Investors” or “Limited Partners” and each an “Investor” or “Limited Partner”) that meet the definition of “accredited investor” as defined under Regulation D of the securities Act of 1933, as amended, “qualified clients” as defined under Section 205-3 of the Investment Company Act of 1940, as amended (the “Company Act”) and/or “qualified purchasers” under Section 2(a)(51) of the Company Act so as to comply with the exemptions under Section 3(c)(1) or Section 3(c)(7) of the Company Act, as applicable to each Fund. CRG FM’s Funds are: - CRG GP Fund I, LP, a Delaware limited partnership (“CRG GP Fund I”). CRG GP Investment LLC, a Delaware limited liability company, is the general partner to CRG GP Fund. - CRG GP Fund II, LP, a Delaware limited partnership (“CRG GP Fund II”, collectively with the CRG GP Fund, the “CRG GP Funds”). CRG GP Investments II, LLC, a Delaware limited liability company, is the general partner to CRG GP Fund II. - USLF II Partners, LP, a Delaware limited partnership (“AI Fund”), and USLF II QP Partners, LP, a Delaware limited partnership (“QP Fund”, collectively with the Main Fund, the “USLF Funds”). USLF II GP Investors, LLC, a Delaware limited liability company, is the general partner to both the Main Fund and QP Fund. CRG FM, and their affiliates, represent the real estate services division (“CRG Real Estate”) of Clayco, Inc. (“Clayco”), a fully integrated real estate development, architecture, design-build construction firm. Utilizing CRG Real Estate’s national platform and proprietary relationships, CRG Real Estate originates institutional quality investment opportunities for industrial, multi-family, student housing and build-to-suit projects. The Funds enter into joint ventures utilizing CRG Real Estate’s established relationships with

third-party equity partners (“Joint Ventures”). The Funds will make investments through these Joint Ventures. CRG FM, through an investment management agreement with the Funds, and their affiliates, are responsible for originating, negotiating, structuring and managing the investments for the Funds. CRG FM pursues investments on behalf of the Fund in the following asset classes: (i) speculative and build-to-suit industrial development opportunities in core markets, key logistics corridors, as well as inland ports and seaports ; (ii) multifamily apartment development projects in urban, first ring suburban and transit-oriented development locations with population growth and job growth in the healthcare and education sectors in markets; (iii) student housing development projects in pedestrian oriented sites at first tier state flagship universities in Power Five Conferences; and (iv) build-to-suit office investment and development opportunities for high credit tenants such as larger for Fortune 500 clients. In addition to the advisory activities for the Funds, CRG FM has, and may again in the future, performed ad hoc advisory services to certain co-investment or special purpose vehicles (“SPVs”). These SPVs are typically created to offer an investor an opportunity that is not otherwise allowed per the restrictions and limitations set for in the governing documents of the Funds. For avoidance of doubt, these SPVs are not considered regulatory assets under management as CRG FM does not perform continuous investment advisory services. The Firm’s investment management and advisory services to each Client are provided pursuant to the terms of their respective private placement memorandum and/or other offering documents, investment advisory agreement, limited partnership agreement, limited liability company agreement, or other governing documents (collectively, the “Governing Documents”). The Firm may enter into side letters with investors to the Funds to provide them with special terms related to their investment in a Fund, which are not offered to other investors in the Fund. CRG FM does not participate in a wrap fee program. As of December 31, 2023, CRG FM had approximately $473,417,368 in regulatory assets under management on a discretionary basis. Currently, CRG FM does not manage any Advisory Client assets on a non-discretionary basis, but it may choose to do so in the future.