Virage Capital Management LP, founded in 2013, is an investment advisory services firm that currently provides investment management services to twelve clients, nine of which are pooled private investment funds, and three of which are a “fund of one”. In his capacity as a limited partner of Virage Capital Management LP, Edward Ondarza is the majority owner of our firm. He is also the manager and majority owner of Virage LLC, which is the general partner of our firm. We currently manage three client strategies: the Virage Capital Partners strategy, the Virage Recovery Fund strategy, and the Virage Opportunity Fund strategy. Virage Capital Partners Strategy. The clients that follow the “Virage Capital Partners” strategy are: (i) multiple series of Virage Master LP, a Delaware series limited partnership, each of which is managed on a discretionary basis: Series 1 – Virage Master LP, Series 2 – Virage Master LP, Series 3 – Virage Master LP, Series 4 – Virage Master LP, Series 5 – Virage Master LP, Series 6 – Virage Master LP, WAM Series 1 – Virage Master LP (collectively, the “VCP Funds”), (ii) Virage TTU, LP, a Texas limited partnership and a “fund of one” managed on a discretionary basis (“Virage TTU”) (iii) Series M—Virage Capital Partners II LP, a Delaware series limited partnership and a “fund of one” managed on a non-discretionary basis (“Series M”), and (iv) SLF Receivables LP, a Delaware limited partnership and a “fund of one” managed on a non-discretionary basis (“SLF”). Each of Virage TTU, Series M and SLF, is referred to as a “Fund of One,” and collectively with the VCP Funds, the “Litigation Finance Clients.” Virage Recovery Fund Strategy. We also manage Virage Recovery Master LP, a Delaware limited partnership (the “Recovery Fund”) which is a pooled investment vehicle whose investment program seeks to generate attractive risk-adjusted returns by acquiring and pursuing claims under the Medicare Secondary Payer Act and other applicable law. Virage Opportunity Fund Strategy We also manage Virage Opportunity Fund LP (the “Opportunity Fund”) which is a private investment vehicle whose investment objective is to generate superior risk-adjusted returns by making an equity investment in an Arizona law firm authorized as an “alternative business structure” (or “ABS”) which is in the business of acquiring primarily automobile, truck, motorcycle, and other motorized vehicle accident cases nationally and co-counseling with accomplished co-counsel firms around the country to jointly pursue the cases (which co- 5 5 counsel is generally be responsible for the case-related expenses) and share in the legal fees from client recoveries. The Opportunity Fund has not yet accepted third party capital and is currently owned by an affiliate of our firm that has provided capital to make the initial investment in the ABS. Each of the VCP Funds and the Recovery Fund is a private pooled investment “master fund” in a master-feeder structure with a domestic feeder fund and, for some clients, one or more offshore feeder funds. With respect to these clients, we only consider each master fund, and not its feeder funds, our client because the feeder funds place all of their investable assets in one or more series the applicable master fund(s). All investment activities for the funds in each master-feeder structure are conducted at the master fund level where we act as the investment manager to the master fund. In providing our advisory services to our clients, we seek to generate attractive risk-adjusted returns to the underlying investors of our clients. Historically, for the Litigation Finance Clients, this has been achieved by primarily originating direct secured and unsecured loans (or other funding arrangements) to well-qualified, State Bar licensed attorneys (each, a “borrower”) for the purpose of financing or refinancing borrower business expenses related,

as more specifically described in Item 8 (Methods of Analysis, Investment Strategies and Risk of Loss), to civil lawsuits and similar litigation matters initiated in U.S. federal and state courts and definitive settlement agreements entered into as a result of such lawsuits and/or litigation matters (each, a “loan”). On occasion, rather than originating a loan, a client may enter into a pre- paid forward purchase agreement, or litigation funding agreement with a borrower to fund its business expenses. Our clients may also consider entering into loans or direct funding agreements with plaintiffs in a litigation matter. Additionally, our clients are permitted to also invest in similar loans, debt, notes, or other obligations from other originators, lenders, loan facilitators, funders, or brokers if we determine such opportunities to be attractive and appropriate for the client. As noted, the Recovery Fund seeks to generate attractive risk-adjusted returns by acquiring and pursuing claims under the Medicare Secondary Payer Act and other applicable law, and the Opportunity Fund seeks to do the same by investing in an Arizona law firm that is authorized as an ABS. In 2018 we facilitated a securitization transaction whereby the loan portfolios for certain of our Litigation Finance Clients—namely, Series 1 – Virage Master LP, Series 2 – Virage Master LP and Series 3 – Virage Master LP—were securitized. While we no longer manage the loan portfolios that were part of the securitization transaction, we continue to service such loans (collectively, the “Securitized Loans”) pursuant to a servicing agreement. With respect to our Litigation Finance Clients, we source investments directly with the legal community in the United States from existing and newly cultivated relationships, research to identify potential borrowers involved with a certain legal matter, referrals from existing borrowers and attending relevant industry conferences that provide a forum to meet potential borrowers. In addition, we have contractual arrangements with individuals that work in the legal community and who assist in sourcing transactions for an agreed-upon fee paid by the clients. We may also source new transactions from existing borrowers. The Recovery Fund makes investments through a joint investment vehicle together with a third party whose affiliates (through servicing agreements with the investment vehicle) identify 6 6 claims under the Medicare Secondary Payer Act, and other applicable law, and pursue recoveries thereunder. The Opportunity Fund has a single equity investment in an Arizona law firm authorized as an ABS (the “ABS Firm”) (which has other third-party owners). Our firm tailors our advisory services to the individual needs and specified investment mandates of our clients. We adhere to the investment strategy set forth in the confidential offering memoranda of each client or its respective feeder fund(s), as applicable. We do not, however, tailor our advisory services to the individual needs or any specified investment mandates of the investors in the feeder funds and those investors may not impose restrictions on investing in certain securities or types of securities. We do not participate in any wrap-fee programs. As of December 31, 2023, we have regulatory assets under management of $994,808,747. We manage 93.60% of our regulatory assets under management on a discretionary basis and 6.40% of our regulatory assets under management on a non-discretionary basis. Our total assets under management is $1,048,052,844 comprised of (i) our regulatory assets under management, which includes the net asset value of our Litigation Finance Clients, the Recovery Fund, and the Opportunity Fund (which currently consists solely of capital invested by an affiliate of our firm) and (ii) the value of the Securitized Loans that we service that do not comprise a part of our Litigation Finance Clients’ assets.