Identify your principal owner(s). GMT Capital Corp. (“GMT”), a Georgia corporation, is an investment advisory firm that was founded in 1993 and that has been registered as an investment adviser under the Advisers Act since March 2012. GMT currently provides discretionary investment advisory services, including, but not limited to, managing and directing the investment and reinvestment of assets for the following private investment funds: o Bay Resource Partners L.P., a Delaware limited partnership (“Bay I”); o Bay II Resource Partners L.P., a Delaware limited partnership (“Bay II”); and, o Bay Resource Partners Offshore Fund, Ltd., a Cayman Islands exempted company (the “Offshore Feeder Fund”), which feeds substantially all of its assets into Bay Resource Partners Offshore Master Fund, L.P., a Cayman Islands limited partnership (the “Offshore Master Fund”, and together with the Offshore Feeder Fund, the “Offshore Fund”). Each of Bay I, Bay II and the Offshore Fund are referred to individually in this Brochure as a “Fund” and together as the “Funds.” The terms for each Fund are disclosed in detail in that Fund’s offering documents that are provided to prospective investors prior to investment. GMT acts as the general partner for each of Bay I and Bay II and the discretionary investment manager for the Offshore Fund. An affiliate of GMT, GMT Capital Offshore Management, LLC, a Georgia limited liability company (“GMT Offshore”), acts as the general partner of the Offshore Master Fund. GMT also currently provides both discretionary and non-discretionary investment advisory services to certain separately managed accounts (the “Managed Accounts,” and together with the Funds, the “Advisory Clients”). GMT’s principal office is located in Atlanta, Georgia. An affiliate of GMT - GMT Capital Research, LLP - conducts investment research for GMT out of its office in London, England. The principal owner of GMT is Thomas E. Claugus. specializing in a particular type of advisory service, such as financial planning, quantitative analysis, or market timing, explain the nature of that service in greater detail. If you provide investment advice only with respect to limited types of investments, explain the type of investment advice you offer, and disclose that your advice is limited to those types of investments. GMT provides discretionary and non-discretionary investment advisory services to its Advisory Clients, which are private investment vehicles and separately managed accounts, by recommending, or managing and

directing, the investment and reinvestment of their assets. As further described in Item 8.A below, GMT is a long-term, value based investment adviser with a long/short equity focus. GMT generally invests a majority of the assets of the Advisory Clients in long and short positions in common and preferred stocks, common and preferred stock derivatives, commodity and commodity-linked securities and futures contracts, and is also permitted to invest in private equity investments, bonds or other credit investments, real estate, or other asset classes both within the U.S. and outside the U.S. Although GMT’s investment advice is generally limited to these types of investments, it has a broad and flexible investment mandate. individual needs of clients. Explain whether clients may impose restrictions on investing in certain securities or types of securities. GMT provides advisory services pursuant to the Advisory Clients’ investment management agreements, offering memoranda, limited partnership agreements, and/or subscription documents, as applicable. GMT neither tailors its advisory services to the individual needs of investors nor accepts investor-imposed investment restrictions with respect to the Funds; however, GMT does allow investors the opportunity not to participate in certain classes of Fund investments, via share class selection and/or side letter agreement. When deemed appropriate for a large or strategic investor, GMT has established, and may again in the future establish, a Managed Account that will tailor its investment objectives to those of the specific investor (including restrictions on investing in certain types of securities) and/or be subject to different terms and/or fees than those of the Funds. Such investment objectives, terms and fee arrangements are individually negotiated, and it should be noted that any such Managed Account relationships are generally subject to significant account minimums. services, (1) describe the differences, if any, between how you manage wrap fee accounts and how you manage other accounts, and (2) explain that you receive a portion of the wrap fee for your services. GMT does not participate in wrap fee programs. discretionary basis and the amount of client assets you manage on a non- discretionary basis. Disclose the date “as of” which you calculated the amounts. As of December 31, 2023, GMT has approximately $5,528,073,213 of regulatory assets under management on a discretionary basis and $34,311,545 on a non- discretionary basis.