Tenor Capital, a Delaware limited partnership, was established in March 2004. Tenor Capital has been registered with the SEC since August 2010. Our principal owner is Robin R. Shah. Mr. Shah, as Managing Member of Tenor Management GP, LLC, the general partner of Tenor Capital, controls Tenor Capital. Our registration also covers Tenor Opportunity Associates, LLC ("Associates"), and Tenor Opportunity Associates II, LLC ("Associates II") and Tenor Opportunity Associates III, LLC ("Associates III"), which serve as general partners of pooled investment vehicles managed by Tenor Capital. Mr. Shah, as Managing Member of Tenor Management Associates, LLC, the managing member of each of Associates, and Associates II and Associates III, also controls Associates and Associates II and Associates III. As of December 31, 2023, Tenor Capital, Associates, Associates II and Associates III (collectively the "Tenor Advisors") managed $7,813,969,778 of regulatory assets under management on a discretionary basis. Advisory Services The Tenor Advisors provide investment management services to private pooled investment vehicles offered to investors on a private placement basis. The investment vehicles are structured as Delaware limited partnerships, Cayman Island corporations, or Cayman Island limited partnerships. In connection with providing these investment management services; the Tenor Advisors have been appointed as investment advisers with discretionary trading authorization. Tenor Capital is the investment adviser to the following investment funds (the "Continually Offered Offshore Corporate Funds"): 1. Tenor Opportunity Fund Ltd.; 2. Parsoon Opportunity Fund, Ltd., and 3. Tenor Special Situations Fund, L.P.
Tenor Capital is also the investment adviser to the following investment funds (the "Continually Offered Master Funds"): 1. Tenor Opportunity Master Fund, Ltd. – into which both Tenor LP (defined below) and Tenor Opportunity Fund Ltd. invest substantially all of their capital.
2. Parsoon Special Situation Ltd. – into which certain share classes of Parsoon Opportunity Fund, Ltd. invest substantially all of their capital. This fund has also issued shares directly to U.S. persons.
Associates serves as the general partner for Tenor Opportunity Fund L.P., ("Tenor LP" and, together with Tenor Opportunity Fund, Ltd., the "Tenor Opportunity Funds") (also, the "Continually Offered Onshore Fund" and, together with the Continually Offered Offshore Funds and the Continually Offered Master Funds, the "Continually Offered Funds"). Associates also serves (i) as the general partner for the Tenor Special Situations Fund, L.P. ("TSSF") (the "Continually Offered Offshore Partnership Fund" and, together with the Continually Offered Offshore Corporate Funds, the "Continually Offered Offshore Funds") and (ii) as the general partner for the following closed end investment funds ("Tenor International & Commercial Arbitration Funds" or "TICAF"): 1. Tenor International & Commercial Arbitration Fund, L.P.; 2. Tenor International & Commercial Arbitration Fund A, L.P.; 3. Tenor International & Commercial Arbitration Offshore Fund L.P.; 4. Tenor International & Commercial Arbitration Master Fund L.P., into which Tenor International & Commercial Arbitration Offshore Fund L.P. invests all its capital; 5. Recompense L.P.; and 6. Recompense Master L.P., into which Recompense L.P. invests all its capital. Associates II serves as the general partner for the following investment fund: 1. Tenor International & Commercial Arbitration Fund II, L.P.; 2. Tenor International & Commercial Arbitration Offshore Fund II L.P.; 3. Tenor International & Commercial Arbitration Master Fund II L.P., into which Tenor International & Commercial Arbitration Offshore Fund II L.P. invests all its capital; and 4. Recompense II L.P., organized under the laws of the Cayman Islands, and Recompense Master II L.P., into which Recompense II L.P. invests all its capital. Associates III serves as the general partner for the following closed

end investment fund: 1. Tenor Metric Co-Invest Fund LP.; The Continually Offered Funds, TICAF, TICAF II and Metric Fund are each referred to individually as a "Fund" and collectively as the "Funds". The Tenor Advisors have full discretionary authority with respect to investment decisions, and their advice with respect to the Funds is made in accordance with the investment objectives and guidelines set forth in each Fund's respective offering memorandum and/or pursuant to the investment management agreements entered into between each Fund and Tenor Capital. Tenor Capital also provides certain management and administrative services to all of the Funds. Investment Strategies and Types of Investments Tenor Capital's investment strategy with respect to the Tenor Opportunity Funds is to employ a variety of strategies primarily focused on credit, volatility and equity relative value. These strategies include convertible arbitrage, capital structure arbitrage, volatility and credit relative value, and special situation investment strategies. The Tenor Opportunity Funds generally invest in securities issued by entities that reside in the Americas, Europe and Asia. The securities traded by the Tenor Opportunity Funds include, but are not limited to, listed securities, privately placed securities, over-the-counter contracts or other types of financial instruments, including bank loans, cash and derivative securities. The Continually Offered Funds other than the Tenor Opportunity Funds (the "Tenor Legacy Funds") only hold certain "legacy" investments (including illiquid investments) and do not currently make new investments other than adding to existing positions. The Tenor Legacy Funds previously had similar investment programs to the Tenor Opportunity Funds. Tenor Capital's investment strategy with respect to the TICAF Funds is to invest primarily in international and commercial arbitrations in attractive and suitable jurisdictions around the world, including the United States. The investment objective of the Metric Fund is to generate attractive risk-adjusted returns by investing in privately negotiated convertible bonds and other financing solutions designed to facilitate acquisitions by special purpose acquisition companies ("SPACs"). Please see Item 8 - Methods of Analysis, Investment Strategies and Risk of Loss below for a more detailed description of the investment strategies pursued and types of investments made by the Funds. The descriptions set forth in this brochure of specific advisory services that we offer to the Funds, and investment strategies pursued, and investments made by us on behalf of the Funds, should not be understood to limit in any way our investment activities. We may offer any advisory services, engage in any investment strategy and make any investment, including any not described in this brochure, that we consider appropriate, subject to each Fund's investment objectives and guidelines. The investment strategies we pursue are speculative and entail substantial risks. The Funds should be prepared to bear a substantial loss of capital. There can be no assurance that the investment objectives of any client will be achieved. Tenor Capital does not participate in Wrap Fee Programs. This Brochure does not constitute an offer to sell or solicitation of an offer to buy any securities. The securities of the Funds are offered and sold on a private placement basis under exemptions promulgated under the Securities Act of 1933 and other applicable state, federal or non-U.S. laws. Significant suitability requirements apply to prospective investors in the Funds, including requirements that they be "accredited investors" as defined in Regulation D, "qualified purchasers" as defined in the Investment Company Act, or non-"U.S. Persons" as defined in Regulation S. Persons reviewing this Brochure should not construe this as an offer to sell or a solicitation of an offer to buy the securities of any of the Funds described herein. Any such offer or solicitation will be made only by means of a confidential private placement memorandum.