Description of Advisory Firm. Falfurrias Management Partners LP, a Delaware limited partnership and successor by conversion to Falfurrias Management Partners LLC (“Falfurrias Management”), provides investment advisory services solely to pooled investment vehicles that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”), and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). Falfurrias Management currently provides investment advisory services to Falfurrias Capital Partners II, LP (hereafter referred to as “Fund II”), Falfurrias Capital Partners III, LP (hereinafter referred to as “Fund III”), Falfurrias Capital Partners IV, LP (hereinafter referred to as “Fund IV”), Falfurrias Capital Partners V, LP (hereinafter after referred to as “Fund V”), Falfurrias Growth Partners I, LP (hereinafter referred to as “FGP I”), and, together with Fund II, Fund III, Fund IV, and FCP V each a “Falfurrias Fund” and, collectively, the “Falfurrias Funds”). As an investment adviser of the Falfurrias Funds, Falfurrias Management, along with Falfurrias Equity Partners II LLC, which serves as the general partner of Fund II (“Fund II GP”), Falfurrias Equity Partners III LLC, which serves as the general partner of Fund III (“Fund III GP”),Falfurrias Equity Partners IV LLC, which serves as the general partner of Fund IV (“Fund IV GP”), Falfurrias Equity Partners V LLC (“Fund V GP”), and Falfurrias Growth GP I LLC (“FGP GP I”), and, together with Fund II GP, Fund III GP, Fund IV GP, and Fund V GP the “General Partners” and, the General Partners together with Falfurrias Management, “Falfurrias” or the “Firm”), identifies investment opportunities for, and participates in the acquisition, management, monitoring and disposition of investments of, the Falfurrias Funds. Marc Oken and W. Edwin McMahan Jr. control Falfurrias Management through High Hopes Management LLC. The principal owners of Falfurrias Management are Mr. Oken, through his investment vehicle, High Hopes Equity II, LLC and W. Edwin McMahan, Jr. The General Partners are registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) in accordance with SEC guidance. The General Partners together with Falfurrias Management operate as a single advisory business and this brochure describes the business and practices of Falfurrias Management and the General Partners. Founded in 2006 by Hugh McColl, Jr. and Marc Oken (the “Founding Principals”), Falfurrias focuses on sectors and opportunities where the Firm can leverage and employ the Founding Principals’ relationships, reputations as successful business and community leaders, and experiences to support portfolio company growth initiatives. Falfurrias’s “Industry First” methodology is the process by which certain sectors, with attractive growth characteristics, are identified as target campaigns. Once identified and evaluated, an actionable thesis is constructed alongside an executive partner in order to identify compelling investment ideas which generally take

the form of buyout transactions. Falfurrias tailors its advisory services to the specific investment objectives and restrictions of each Falfurrias Fund pursuant to its respective investment guidelines and restrictions set forth in such Falfurrias Fund’s limited partnership agreement and investment management agreement. Investors and prospective investors of each Falfurrias Fund should refer to the confidential private placement memorandum, limited partnership agreement, investment management agreement and/or other governing documents of such Falfurrias Fund (collectively, the “Governing Documents”) for complete information on its investment objectives and investment restrictions. Investment advice is provided by Falfurrias directly to each Falfurrias Fund, subject to the direction and control of such Falfurrias Fund’s General Partner. As of December 31, 2023, Falfurrias Management has regulatory assets under management of approximately $3,216,939,145 all of which is managed on a discretionary basis. Fund II GP commenced operations on November 1, 2011and, as of December 31, 2023, has regulatory assets under management of approximately $33,464,603, all of which is managed on a discretionary basis. Fund III GP commenced operations on August 1, 2016 and, as of December 31, 203, has regulatory assets under management of $726,135,926, all of which is managed on a discretionary basis. Fund IV GP commenced operations in July 22, 2019 and, as of December 31, 2023, has regulatory assets under management of $1,096,979,824. Fund V GP commenced operations on September 20, 2021 and, as of December 31, 2023, has regulatory assets under management of $970,758,663. FGP GP I commenced operations on December 21, 2022 and, as of December 31, 2023, has regulatory assets under management of $389,600,130. Falfurrias does not manage any assets on a non-discretionary basis. Falfurrias provides investment advice to each Falfurrias Fund in respect of its respective investment portfolio. Additionally, Falfurrias provides other managerial and administrative services, including without limitation, “Industry First” identification and diligence procedures on potential investments, management oversight and recommendations, and disposition of investments, monitoring the performance of investments, and preparing reports necessary or appropriate for compliance with the governing agreements of the respective Falfurrias Fund. Fund II, Fund III, Fund IV, Fund V, and FGP I are all closed to new investors subscribing for new interests. Investments in Fund II, Fund III, Fund IV, and FCP V were privately offered and sold only to qualified investors, typically eligible high-net-worth individuals and institutional investors. In accordance with common industry practice, each Falfurrias Fund or its General Partner has entered into “side letters” or similar agreements with certain investors pursuant to which such General Partner grants the applicable investor specific rights, benefits, or privileges that are not made available to investors generally. Falfurrias does not participate in any wrap fee programs.