Chesapeake Capital Corporation (“Chesapeake”) is an Illinois corporation that has been in the investment management business since 1988. Chesapeake is owned indirectly (through Chesapeake Holding Company) by Ralph J. Parker, Jr., who is Chesapeake Holding Company’s controlling shareholder. Mr. Parker also serves as Chairman and Chief Executive Officer of Chesapeake. Chesapeake provides investment management services on a discretionary basis to a U.S. privately offered investment fund sponsored by Chesapeake as well as to a publicly-offered mutual fund, an exchange-traded fund (an “ETF”), and to a separately-managed account (an “SMA”) held by a fund-of- funds. Chesapeake may in the future provide investment management services to additional SMAs and funds. The private and public investment funds that are offered to investors (referred to as “Funds”) generally invest their assets both in commodity futures interests and in securities, through which we pursue our investment strategies. Our trading strategy is to achieve capital appreciation for our Clients primarily through trading on an aggressive and very highly leveraged basis in a wide variety of these instruments. Our Funds trade varying levels of securities as described in their respective governing documents. Chesapeake also currently provides investment advisory services to clients apart from its management of the Funds. As of December 31, 2023 Chesapeake had approximately $202 million in net assets under management (including Funds and

individual clients), all managed on a discretionary basis. Chesapeake’s management of each Fund, and the terms of any investor’s investment in a Fund, are governed exclusively by the terms of that Fund’s organizational documents, private offering memorandum or other disclosure documents, including a prospectus in the case of publicly-offered mutual funds or ETFs, limited partnership agreement or operating agreement (if any), investment management agreement, and subscription agreement (the “governing documents”). Such governing documents describe how our trading strategies, and any restrictions, are implemented for a particular Fund. Chesapeake’s management of individual accounts is governed by the terms of an individual management agreement with a particular individual Client. See Items 5 and 6 below for a description of the fees and other compensation paid by the Funds and individual clients. All discussions in this brochure of the Funds, their investments, the strategies Chesapeake uses in managing the Funds or individual managed accounts, and the fees associated with an investment in the Funds or individual managed accounts are qualified in their entirety by reference to the Funds’ governing documents or the individual managed account agreement, as the case may be. This brochure and the material it contains are not meant to be, nor should they be construed as, an offer or solicitation of an offer for the purchase or sale an interest in the Funds.