Advisory Business Redding Ridge Asset Management is a Delaware series limited liability company that commenced operations in August 2016. The Adviser is wholly owned by Redding Ridge Holdings LP (“Holdings”), a Cayman Islands exempted limited partnership. Holdings is an affiliate of Apollo Global Management, Inc. (“AGM,” and together with its subsidiaries, “Apollo”). AGM is a Delaware corporation that is publicly listed on the New York Stock Exchange (“NYSE”) under the symbol “APO.” As discussed throughout this Brochure, Redding Ridge currently provides investment advisory services on a discretionary basis to its clients, which include certain collateralized loan obligations (“CLOs”) and warehouse vehicles (“CLO Warehouses,” and together with CLOs, “Clients”). Generally, Clients managed by the Adviser are organized in the Cayman Islands, Bermuda, United States (“US”) or European Union (“EU”) and rely on Section 3(c)(7) of the Investment Company Act of 1940 (the “1940 Act”), or other applicable exceptions or exemptions under the 1940 Act, as the basis for their exemption from the registration requirements of the 1940 Act. The Adviser’s Clients directly or indirectly invest primarily in senior secured bank loans, leveraged loans to corporate borrowers, bonds and other assets. The Adviser’s objective in managing Clients’ investment portfolios is generally to achieve preservation of principal and above average returns via income and capital appreciation. Investment Advisory Relationship with the CLOs The advisory relationship between Clients and Redding Ridge is governed by respective collateral management agreements (each, a “Management Agreement”) and the terms of other relevant governing documents. The Management Agreements are generally not negotiated at arm’s length because they are between related parties and, as such, their terms, including the fees payable to Redding Ridge, might not be as favorable as if they had been negotiated with an unaffiliated, unrelated third party. In connection with providing investment management services, Redding Ridge Asset Management is appointed as an investment adviser with discretionary trading authorization. In addition to Clients’ investments in primarily senior secured bank loans, Redding Ridge Asset Management, either directly or indirectly through a special purpose vehicle, engages in total return swaps on behalf of Clients. In connection

with certain investments, Redding Ridge Asset Management employs hedging techniques designed to reduce the risks of adverse movements in interest rates, securities prices and currency exchange rates, including, but not limited to, the use of interest rate swaps, credit derivative swaps, forward contracts, commodities or commodities futures, put and call options, floors, collars and other similar arrangements. While at this time the Adviser only manages assets on behalf of the Clients, in the future Redding Ridge Asset Management can also provide investment management services to additional CLOs or pooled investment vehicles that are offered to investors on a private placement basis without consulting existing Clients. Redding Ridge Asset Management also offers structuring and/or capital markets advice on a non-discretionary basis to affiliates, including Apollo and vehicles managed or advised by Apollo, and their respective portfolio companies, and third-party clients. Such other clients could have investment policies similar to (or different from) those of the Adviser’s Clients, and advice provided to other clients can differ from, or be similar to, advice provided to a Client and such other clients often can invest in securities or other obligations of the same class or type as those held by the Clients. See Item 10 for additional detail regarding services provided to Redding Ridge Asset Management and/or Apollo-affiliated or third-party clients. Except in limited circumstances, Redding Ridge Asset Management has full discretionary authority with respect to the investment decisions of advisory Clients; however, advice is provided in accordance with the investment objectives and guidelines set forth in each Client’s governing documents and investment guidelines. The information provided in this Brochure about the investment advisory services provided by Redding Ridge Asset Management is intended to describe the services of the Adviser but each Client is governed by their relevant governing documents and offering materials. The offering documents for each CLO should be read carefully prior to investment. No offer to sell interests is made by the descriptions in this Brochure. Investments in Clients are available only to investors that are properly qualified. As of December 31, 2023, Redding Ridge Asset Management had approximately $19,426,300,067 in regulatory assets under management, all on a discretionary basis.