OVERVIEW VIS Advisors was founded in 2014 by its principal and sole owner, Tomoyuki Izumi. VIS Advisors is located in New York, NY. VIS Advisors’ advisory service consists exclusively of portfolio management and investment advisory services to: a domestic pooled investment vehicle, Takumi Capital Management, LP, a limited partnership organized under the Delaware Revised Uniform Limited Partnership Act (the “Onshore Fund”); an offshore pooled investment vehicle, Takumi Capital Management Fund, Ltd., an exempted company incorporated and existing under the laws of the Cayman Islands (the “Offshore Fund”, together with the Onshore Fund, the “Feeder Funds”); a domestic pooled investment vehicle; and separately managed accounts (“SMAs”, together with the Feeder Funds, the “Client Accounts” and each, a “Client Account”). VIS Advisors tailors its advisory services to the needs, risk tolerances, and investment goals of its clients, who may impose restrictions on investing in certain securities or types of securities in accordance with any special instructions provided to VIS Advisors by the client or pursuant to the client’s investment management agreement. This Brochure does not constitute an offer to sell or a solicitation of an offer to buy any securities. The Funds’ securities are offered and sold on a private placement basis under exemptions promulgated under the “Securities Act” of 1933 and other applicable state, federal, or non-U.S. laws. Significant suitability requirements apply to prospective investors in the Funds, including requirements that they be “accredited investors” as defined in the Securities Act and “qualified purchasers” as defined in the Investment Company Act of 1940. Persons reviewing this Brochure should not construe this as an offer to sell or a solicitation of an offer to buy the securities of any of the Funds described herein. Any such offer or solicitation will be made only by means of a confidential private placement memorandum. LIMITED PARTNERSHIPS AND FUND STRUCTURE The Feeder Funds were formed to pool investment funds of their investors for the purpose of investing and trading in a wide variety of securities and financial instruments, long and short, primarily focusing on publicly traded equity securities, as more fully described herein under “investment strategy” as well as the respective offering memoranda of the Feeder Funds. VIS Asset Management GP, LLC, a Delaware limited liability company (the “General Partner”), is the general partner of the Onshore Fund and has discretion over the management and administration of the Onshore Fund’s affairs. The General Partner also serves as the general partner of Takumi Capital Management Master Fund LP exempted limited partnership formed and existing under the laws of the Cayman Islands (the “Master Fund”). The Feeder Funds and the Master Fund will be managed through a “master-feeder” fund structure. Whereas the Onshore Fund was formed for investment by U.S. taxable investors, the Offshore Fund was formed for investment by non-U.S. persons and U.S. tax-exempt entities. VIS Advisors, LP – Investment Advisor Brochure 5 The Feeder Funds are authorized (but is unlikely), to invest outside of the Master Fund. Other investment entities may be formed in the future to invest in the Master Fund. Each investment entity, including the Feeder Funds that invest in the Master Fund will share indirectly the administrative and other operating expenses of the Master Fund pro rata based on its interest in the Master Fund. The General Partner has retained VIS Advisors as the investment manager of the Onshore Fund. As the founder and principal member, manager and controlling person of each of the General Partner and VIS Advisors, Tomoyuki Izumi controls the management and operations of the General Partner and VIS Advisors and is authorized to contractually bind each such entity. INVESTMENT STRATEGY VIS Advisors invests predominantly in Japanese equity securities. Based on research into the investment fundamentals of individual securities, VIS Advisors seeks to identify investment opportunities from significant discrepancies between market price and intrinsic value of superior and well-managed businesses. VIS Advisors’ research and analysis will focus on company specific data but will also take into account corporate culture, corporate governance, broader market and economic trends. VIS Advisors makes investment decisions based on the study and understanding of candidate companies’ public materials, often supplemented by interviews with management, suppliers, competitors and customers and visits to candidate companies’ facilities. VIS Advisors may also seek additional information from interviews with other securities analysts and from conversations with other investors and/or experts. Though these efforts often yield a significant body of information with respect to a candidate company, VIS may also retain industry experts or others to gather additional information. The intrinsic value of securities gleaned from the process described above is compared to the stock market price of the security. Only when securities appear substantially underpriced does the Investment Manager intend to purchase. When shorting,

VIS Advisors searches for overvalued securities with an attractive risk/reward. Risk control is emphasized when shorting. Responsible amounts of leverage will be employed to seek to increase returns. The Feeder Funds employ an identical investment strategy. The Feeder Funds and SMAs portfolios comprise primarily Japanese securities. However, VIS Advisors retains the ability to invest in other sectors and countries as it deems appropriate. VIS Advisors may attempt to hedge currency, macroeconomic, political, industry and company risks through short selling, currency, derivative strategies and other means. The proportion of capital to be allocated to hedging cannot be determined ahead of time. The development of an investment strategy is a continuous process and, therefore, VIS Advisors strategy may be modified from time to time. The investment process described herein is not exhaustive and is confidential. Investment decisions require the exercise of judgment by VIS Advisors and might, as a result of outside market forces, deviate in some instances from the strategy set forth herein. Investors cannot be assured that the strategies or methods utilized by the VIS Advisors will result in profit or loss beyond original investment. VIS Advisors, LP – Investment Advisor Brochure 6 Set forth below are certain other features of VIS Advisors’ strategy that may be considered: Leverage. VIS Advisors may leverage the investment portfolio either via short sales, direct borrowings or other means. Leverage transactions create an opportunity for increased net income but, at the same time, increase the volatility of the investment portfolio’s net asset value (the “NAV”) as a result of fluctuations in market interest rates and increase the risk to the investment. Leverage will magnify declines as well as increases in the NAV and yield. The value of the investor’s assets may decline during a period when it utilizes leverage, thus increasing the investment portfolio exposure to capital risk. To the extent that the income derived from the assets obtained with borrowed funds exceeds the interest and other costs of leverage to the investor portfolio, its net income will be greater than if leverage had not been employed. Conversely, if the cost of leverage exceeds the income derived from the assets obtained with borrowed funds, the investment portfolio’s net income will be lower than if leverage had not been employed. Options. VIS Advisors may seek to manage risk and generate income by selling stocks short, purchasing, selling and writing options on stocks, raising cash and/or going short the stock. Stock short sale candidates generally have the opposite attributes of long candidates and can be characterized by weak balance sheets with high debt levels, low return on equity and poor or negative cash flow, suspect accounting practices, and/or deteriorating industry conditions. VIS Advisors may engage in the purchase, sale and writing of options on stocks and may go long or short the stock market indices for both hedging and speculative purposes.1 This investment strategy entails substantial risks and there can be no assurance that its investment objectives will be achieved. The practices of short selling, options trading, use of leverage and other investment techniques can, when utilized in certain circumstances, maximize the adverse impact to which the investment portfolio may be subject. RISK FACTORS AND OTHER CONSIDERATIONS An investment in the strategy of VIS Advisors involves significant risk and is suitable only for those persons who can bear the economic risk of the loss of their entire investment and who have a limited need for liquidity in their investment. There can be no assurance that the investment strategy will achieve its investment objective. An investment carries with it the inherent risks associated with investments in securities, as well as additional risks including, but not limited to the use of derivatives, short sales and leverage. Each prospective client should review carefully any relevant documents including, as it relates to a pooled vehicle, any offering and related documents before deciding to invest in this strategy. 1 An options strategy whereby an investor holds a long position in an asset and writes (sells) call options on that same asset in an attempt to generate increased income from the asset. This is often employed when an investor has a short-term neutral view on the asset and for this reason hold the asset long and simultaneously have a short position via the option to generate income from the option premium. VIS Advisors, LP – Investment Advisor Brochure 7 Each prospective client should carefully consider the various risk factors and conflicts of interest, as well as suitability requirements, restrictions on transfers and withdrawals and various legal, tax and other considerations. VIS Advisors manages its Client Accounts on a discretionary basis pursuant to the Client Account’s investment profile. This means VIS Advisors maintains authority to determine the securities or the amount of securities to be bought or sold, without additional prior Client Account approval. As of December 31, 2023, the amount of client assets under management on a discretionary basis was approximately $169,820,000.