ADVISORY BUSINESS A. General Description of Advisory Firm. Liberty Hall Capital Partners, L.P. (the "Investment Adviser," "Firm," "Liberty Hall," "we," and "us"), is a Delaware limited partnership that was formed in 2012. The Firm’s main office and principal place of business is located in Charleston, SC We are controlled by our principal owner, Rowan G.P. Taylor (the "Principal Owner"), who acts as the managing member of our general partner, Liberty Hall Capital Partners GP, LLC, a Delaware limited liability company (the "Investment Adviser General Partner"). The Investment Adviser General Partner has ultimate responsibility for our management, operations, and investment decisions. B. Description of Advisory Services. This Brochure generally includes information about us and our relationships with our Clients (as defined herein) and affiliates. While much of this Brochure applies to all such Clients and affiliates, certain information included herein applies to specific Clients or affiliates only. 1. Advisory Services. We currently serve as an investment adviser providing discretionary advisory services to certain pooled investment vehicles organized as limited liability companies (the "Direct LLCs"), and to private pooled investment vehicles, the securities of which are offered to investors on a private placement basis, that would be investment companies as defined in Section 3 of the Investment Company Act of 1940, as amended (the "Investment Company Act") but for Section 3(c)(1) or 3(c)(7) of that Act (each such private pooled investment vehicle, a "Fund" and collectively, the "Funds"). From time to time, we may offer co- investment opportunities to one or more third parties or manage co-investment vehicles that invest in portfolio companies in which the Funds invest or will invest. Further, we may also serve as an investment adviser, with discretionary trading authority, to separately managed accounts (the "Managed Accounts") in the future. We are affiliated with an entity that serves as the general partner to our current Funds (the “Fund General Partner” and collectively, the "Fund General Partners"). The Fund General Partners, which are an affiliated investment adviser of the Investment Adviser, is Liberty Hall Capital Partners Fund I GP, LLC, a Cayman Islands limited liability company, and Liberty Hall Capital Investment Partners II, LLC, a Delaware limited liability company. In addition, we are affiliated with Liberty Hall Capital Investment Partners, LLC ("LHCIP"), and Liberty Hall Capital Investment Partners III, LLC (LHCIP III), which are both limited liability companies organized under the laws of Delaware. LHCIP serves as managing member (or equivalent) of one of the Direct LLCs. To the extent the qualifications and business practices of the Fund General Partners, LHCIP, or LHCIP III are substantially similar to those of the Investment Adviser, no specific mention of the Fund General Partners, LHCIP, or LHCIP III is made herein. As used herein, the term "Client" generally refers to the Direct LLCs, each Fund, Managed Account, pooled investment vehicle and/or any other client we advise. This Brochure does not constitute an offer to sell or solicitation of an offer to buy any securities. The securities of any Funds or other investment vehicles we advise 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 may apply to prospective investors in such vehicles, including requirements that they be "accredited investors" as defined in Regulation D, "qualified purchasers" as defined in the Investment Company Act, or non-"U.S. Persons" as defined in Regulation S. 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 Fund or investment vehicle described herein. Any such offer or solicitation will be made only by means of a confidential private placement memorandum. 2. Investment Strategies and Types of Investments. We advise Clients with respect to private equity investments, with a special focus on investments in businesses serving the global aerospace and defense industry. Such businesses span the breadth of the industry, including suppliers, financiers, aftermarket businesses and service providers. We do not intend to advise or cause Clients to invest in airlines, or defense companies not serving the aerospace or related segments of the defense industry (e.g., land-based vehicles, cyber security, government services, etc.). In addition, certain of the portfolio companies invested in by our Clients may also serve other complementary industrial end markets (e.g., industrial gas transmission/power generation). We seek to identify attractive segments of the global aerospace and defense industry for investment; identify leading businesses that serve these segments; and for every business in which we invest, we seek to develop sound, long-term strategic plans to build these businesses and we provide the financial, human and intellectual capital necessary to execute these strategic plans and achieve sustainable long-term growth through a combination of organic growth, strategic investments and acquisitions. The descriptions set forth in this Brochure of specific advisory services that we may offer to the Clients, and investment strategies pursued and investments to be made by us on behalf of our Clients, should not be understood to limit in any way our investment activities. We may offer any advisory services, engage in any investment strategy, and make any investment, including any not described in this Brochure, that we consider appropriate, subject to each Client's investment objectives and guidelines. The investment strategies we pursue are speculative and entail substantial risks. The Clients should be prepared to bear a substantial loss of capital. There can be no assurance that the investment objectives of any Client will be achieved. C. Availability of Customized Services for Individual Clients. Our investment decisions and advice with respect to each Client are subject to each Client's investment objectives and guidelines, as set forth in its respective governing documents and investment advisory agreements. D. Wrap Fee Programs. We do not currently participate in any Wrap Fee Programs. E. Assets Under Management. As of December 31, 2023, Liberty Hall managed approximately $914,871,466 in assets on a discretionary basis and $0 in assets on a non-discretionary basis.