Item 5. Performance-Based Fees and Side-By-Side Management .............................................................. 5 Item 6. Types of Clients .................................................................................................................................. 5 Item 7. Methods of Analysis, Investment Strategies and Risk of Loss ....................................................... 6 Item 8. Disciplinary Information ................................................................................................................. 14 Item 9. Other Financial Industry Activities and Affiliations ..................................................................... 14 Item 10. Code of Ethics ................................................................................................................................. 14 Item 11. Brokerage Practices........................................................................................................................ 15 Item 12. Review of Accounts ........................................................................................................................ 16 Item 13. Client Referrals and Compensation .............................................................................................. 16 Item 14. Custody ............................................................................................................................................ 16 Item 15. Investment Discretion .................................................................................................................... 16 Item 16. Voting Client Securities ................................................................................................................. 17 Item 17. Financial Information .................................................................................................................... 17 Item 18. Requirements for State-Registered Advisers ............................................................................... 17 Item 3. Advisory Business Shaolin Capital Management LLC (“SCM,” “we” or “us”) is a limited liability company formed in Delaware on November 30, 2018, which is 61% owned by David Puritz and 39% owned by Michael Jester. As described below, SCM is responsible for providing investment advisory services to certain private investment funds, generally structured as limited partnerships or exempted companies. SCM advises

Shaolin Capital Partners Master Fund, Ltd. (the “Master Fund”) and two feeder funds, Shaolin Capital Partners Onshore Fund, L.P. and Shaolin Capital Partners International Fund, Ltd. (each, a “Feeder Fund” and together with the Master Fund, the “Funds”), which invest all or substantially all of their assets into the Master Fund. In addition, SCM is a sub-advisor to a third-party private fund and a single investor vehicle (together with the Funds, the “Advisory Clients”). The investment objectives and strategy of each Feeder Fund are set forth in a confidential private offering memorandum provided to each investor. Any restrictions on investments are contained in the investment management agreement among SCM and the Funds, but no investor in a Feeder Fund may impose additional restrictions. SCM does not participate in any wrap fee programs. As of December 31, 2022 ,SCM manages approximately $4,530,000,000 of regulatory assets under management on a discretionary basis. The specific manner in which SCM will charge fees with respect to the Funds is set forth in the applicable Feeder Fund’s private offering memorandum. The Master Fund (and, indirectly, the Feeder Funds) will pay a management fee to SCM, calculated and payable monthly in arrears, equal to 1.5% per annum of the net assets of the Funds. In addition, the Funds make an incentive allocation to TigerStyle, LLC, the general partner or sponsor of the Funds (the “Sponsor”), as applicable equal to 20% of the net profit in each investor’s capital account, subject to a high-water mark. As compensation for the services it will provide to the Private Fund, SCM will be entitled to an annual management fee that is typically calculated and paid monthly in arrears, subject to the terms of SCM’s agreement with the investor. In addition, SCM is generally entitled to performance-based compensation, which typically, is equal to a portion of the distributions of net profit attributable to the Private Fund, subject to the terms of SCM’s agreement with the investor. SCM and the Sponsor reserve the right, in their sole discretion, to reduce or waive the management fee or incentive allocation, respectively, for current or prospective investors. Each Fund will pay the costs of organizing such Fund, which costs will be amortized over 60 calendar months from the date such Fund commenced operations. Each Feeder Fund will bear its operating, offering and investment-related expenses and its pro rata share of the expenses of the Master Fund, including, without limitation, management fees, legal expenses, internal a n d external accounting, research fees and expenses (including subscription costs, quotation services, data fees, and research related travel), audit and tax preparation expenses, any taxes, filing fees, Fund-related insurance costs (including D&O and E&O insurance), directors’ fees and expenses, administrator and custody fees and expenses, brokerage commissions, borrowing charges (including interest on borrowings). In no event shall the Feeder Funds bear, or be responsible for, any expenses, excluding organizational expenses, management fee and investment expenses, in a fiscal year that exceed an annual rate of 0.50% of the average monthly trading level for the Feeder Funds during such fiscal year (the “Expense Cap”). Each Fund shall reimburse SCM and its affiliates for any such operating, offering and investment- related expenses incurred by SCM or its affiliates on behalf of such Fund. Overall fees may vary by Advisory Client and are determined in accordance with the applicable governing documents of such Advisory Client.