FIRM DESCRIPTION Divisadero, a Delaware limited partnership, was formed in September 2021. Divisadero provides investment management and other services with respect to affiliated private pooled investment vehicles, Divisadero Street Partners, L.P., a Delaware limited partnership (the “Onshore/Master Fund”) and Divisadero Street Offshore Fund, LP, a Cayman Islands exempted limited partnership (the “Offshore Fund”) which are together referred to as the “Divisadero Funds”. In addition, Divisadero, subsequent to December 31, 2023, began serving as sub-manager to BEMAP Master Fund Ltd., a Cayman Islands exempted company (the “BEMAP Fund” which together with the Onshore/Master Fund and Offshore Fund are referred to as herein as the “Funds”). Divisadero has been granted, by the BEMAP Fund’s primary manager, full discretionary investment and trading authority over the securities and non- cash properties comprising the assets of the BEMAP Fund. Interests in the Funds are offered to eligible investors on a private placement basis. We have full discretionary authority with respect to the investment decisions of the Funds. Our investment advisory services are provided in accordance with the investment objectives and guidelines set forth in the Funds’ offering and governing documents. The information set forth in this brochure is qualified in its entirety by the Funds’ offering and governing documents. Divisadero Street Partners GP, LLC, a Delaware limited liability company (the “General Partner”) is the general partner of the Onshore/Master Fund and Offshore Fund. PRINCIPAL OWNERS The General Partner and Divisadero are principally and ultimately owned and controlled by William Zolezzi (the “Principal”). TYPES OF ADVISORY SERVICES Divisadero is investment manager to the Funds, and the Funds are currently its only advisory clients. Divisadero is responsible for investing and re-investing the capital of the Funds in securities, financial instruments and/or other assets in accordance with the investment objectives, policies and guidelines set forth in the Funds’ offering and governing documents. See “Item 8: Methods of Analysis, Investment

Strategies and Risk of Loss.” INVESTMENT RESTRICTIONS We generally provide investment advice to the Funds in accordance with the investment objectives, policies and guidelines set forth in the Funds’ offering and governing documents, and not in accordance with the individual needs or objectives of any particular investor in the Funds. Investors generally are not permitted to impose restrictions on investments in certain securities or types of securities or limitations on the management of the Funds. The Divisadero Funds have entered and may enter into agreements ("Side Letters") with certain prospective or existing investors whereby such investors may be subject to terms and conditions that are more advantageous than those in the Divisadero Funds’ offering and governing documents. For example, such terms and conditions may include reduced management fees, reduced performance allocation and the right to withdraw all or a portion of their investment in the Fund on shorter notice and/or with more frequency than the terms described in this applicable Fund governing documents. The modifications are solely at the discretion of the Fund and may, among other things, be based on the size of the investor's investment in the Funds or affiliated investment entity, an agreement by an investor to maintain such investment in the Fund for a significant period of time or other similar commitment by an investor to the Funds or may be granted to strategic investors. Interests in the Funds are privately offered only to eligible investors pursuant to exemptions under the Securities Act of 1933, as amended (the “Securities Act”), and the regulations promulgated thereunder. The Funds are not registered with the SEC as investment companies based on specific exclusions from the definition of investment company under the Investment Company Act of 1940, as amended (the “Company Act”). ASSETS UNDER MANAGEMENT As of December 31, 2023, we had $634,221,172 in regulatory assets under management. All assets were managed on a discretionary basis. As the BEMAP Fund was launched after December 31, 2023, its assets are not included in the regulatory assets under management listed above.