First Light Asset Management, LLC (“First Light”), a Delaware limited liability company, was formed in September 2013. Mathew P. Arens, First Light’s Managing Member, Chief Executive Officer and Senior Portfolio Manager, is its principal owner. First Light provides advisory services to individuals, high-net worth individuals, institutional clients, pension plans or profit-sharing plans, corporations, and charitable organizations on a discretionary basis through separately managed accounts (“Separate Accounts” and each such client, a “Separate Account Client”). First Light manages a long-only health care equity investment strategy (the “Genesis Strategy”) for Separate Account Clients. The Genesis Strategy primarily seeks out high quality, reasonably priced, growth-equity opportunities among publicly traded micro- to small/mid- cap health care and life sciences companies. The Genesis Strategy targets companies developing transformative devices, technologies and innovations that seek to save money and/or improve patient care. The Genesis Strategy aims to identify companies with high growth potential before the broader market recognizes these opportunities. First Light provides investment and advisory services to Separate Account Clients pursuant to the Genesis Strategy and other strategies it employs. From time to time First Light provides additional advisory services tailored to meet the specific needs or investment restrictions of Separate Account Clients to the extent agreed upon in writing between such Separate Account Client and First Light. First Light provides advisory services using the Genesis Strategy to many Separate Account Clients pursuant to “dual contract programs” (also called “wrap fee programs”) sponsored by unaffiliated broker-dealers/investment advisers that have approved First Light’s participation in their programs. In a dual contract program, the client executes two agreements. The first contract is with the program sponsor and typically addresses such matters as custodial and brokerage services and can provide assistance in selecting third party investment managers, such as First Light. The second contract is an investment advisory agreement with First Light pursuant to which a Separate Account Client retains First Light directly to provide investment advisory services and pays First Light an advisory fee as set forth in the agreement. Each investment advisory agreement discloses the strategy’s investment mandate and grants First Light discretionary investment authority to implement that strategy. Separate Account Clients must disclose certain suitability factors such as investment background and experience, among others, that First Light relies upon in rendering services and will continue to rely on until the Separate Account Client updates the information. Potential Separate Account Clients are encouraged to consult their own financial advisors and legal and tax professionals on an initial and continuous basis in connection with selecting and engaging the services of an investment manager in a particular strategy and participating in a dual contract program. First Light has limited information around participants in dual contract programs, and partially relies on recommendations regarding suitability provided by the program sponsor. In these programs, Separate Account Clients are not charged separate commissions or other transaction costs on each trade so long as the program sponsor (or its broker-dealer affiliate) executes the trade. A portion of the sponsor’s fee generally is considered to cover commissions or other transaction costs. It is anticipated that most Separate Account Clients who participate in a dual contract program will direct or require First Light to trade with the program sponsor (or its broker-dealer affiliate). This avoids incurring brokerage costs or additional transaction costs by other broker-dealers, in addition to the sponsor’s bundled fee, or to avoid other costs associated with trading away. More information on First Light’s trading practices associated with this type of brokerage direction is contained in Item 12 below. Dual contract programs impose certain investment or transaction limitations or restrictions on First Light such that such accounts will be managed similarly, but not necessarily identically, to First Light’s

non-program accounts. Where dual contract program terms allow, First Light is permitted to execute a transaction through a broker-dealer other than the program sponsor where First Light believes that such trade would result in the best price and execution under the circumstances. In such cases, transaction and other fees are often included in the net price of the security. See Item 12 for more information. Separate Account Clients using dual contract programs should review all materials regarding their program’s terms, conditions, and fees (including the sponsor’s Form ADV Part 2A, or the applicable wrap fee program brochure, as applicable), and consider the advantages and disadvantages and overall appropriateness of the program in light of the Separate Account Client’s particular circumstances. First Light also provides investment management services to five private investment funds, First Light Focus Fund, LP, First Light Focus Feeder Fund, Ltd, First Light Prism Fund, LP, First Light Prism Feeder Fund, Ltd., and First Light Genesis+ Fund, LP (each, a “Fund” and collectively the “Funds”). Related entities of First Light, First Light Focus Fund GP, LLC, First Light Prism Fund GP, LLC, and First Light Genesis+ Fund GP, LLC (together the “General Partners”) act as the general partners of their related Funds. Interests in the Funds are offered in private placements under the Securities Act of 1933, as amended (the “Securities Act”). As a result, First Light offers investment in the Funds on a private basis to a limited number of qualified institutional and high net worth Investors that meet the criteria prescribed by relevant requirements for such investments. More information concerning the Funds is contained in the Funds’ limited partnership agreements, confidential private placement memorandums and other governing documents (the “Offering Documents”). Investors and prospective Investors in the Funds (each, an “Investor” and collectively, “Investors”) should refer to the Offering Documents for complete information regarding the investment objectives, investment liquidity, investment restrictions and other important information with respect to the Funds. Investors must be financially sophisticated and able to bear the substantial risks of an investment in the Funds, including loss of the entire investment. The Separate Account Clients and the Funds are referred to together, as “Clients”. First Light’s advisory services to Clients primarily consist of (1) investigating, identifying, and evaluating investment opportunities; (2) structuring, negotiating, and making investments on behalf of Clients; (3) managing and monitoring the performance of such investments; and (4) exiting such investments on behalf of Clients. Other professionals (e.g., lawyers, accountants, tax preparers, and insurance agents) engaged directly by Clients typically charge fees of their own. First Light does not provide legal or tax advice. First Light's investment advisory agreements with its Clients typically contain provisions that may act as a waiver, release, or limitation on certain rights Clients may have against First Light arising from its services. In substance, the investment advisory agreements usually state that First Light, and its directors, officers, employees, or agents, are not liable for any acts or omissions or for any loss in regard to First Light's performance of its duties under such agreements, except for any acts or omissions which constitute bad faith, fraud, material breach of the agreement, violation of applicable laws or regulations, intentional misconduct, gross negligence, or recklessness. Notwithstanding the liability-limiting nature of these provisions, Clients should be aware that federal and state securities laws may impose liabilities on First Light under certain circumstances. Therefore, nothing in those or any other provisions in the investment advisory agreements will have the effect of waiving, releasing, or limiting any rights a Client may have under those laws or under any other laws that are not permitted to be waived by contract. As of December 31, 2023, First Light managed approximately $1,387,863,426 in Regulatory Assets Under Management (as defined in Form ADV Part 1) on a discretionary basis and no Client assets on a non-discretionary basis.