Banner Oak Capital Partners, LP, a Delaware limited partnership (the “Management Company” and together with its affiliated entities, “Banner Oak”), commenced operations in 2016 with its office headquarters in Dallas, Texas. The Management Company’s general partner is Banner Oak Capital GP, LLC, which is owned and controlled by Patricia L. Gibson, Aaron Murff and Colin Neblett (the “Principals”). The Management Company’s limited partners with a greater than 25% ownership interest are BOCP-B, LLC, which is wholly owned by the Principals, and Northern Lights Midco, LLC. Northern Lights Midco, LLC is owned by Aurora Investment Management Pty Limited in its capacity as Trustee of the Aurora Trust. Pacific Current Group Limited, an Australian financial company listed on the Australian Stock Exchange, is the sole owner of Aurora Investment Management Pty Limited and the sole beneficiary of the Aurora Trust. The general partner of each Fund (defined below), and any other future general partner of a Fund (as defined below) (each, a “General Partner”) are, or will be, registered under the Advisers Act pursuant to the Management Company’s registration in accordance with SEC guidance. This Brochure describes the business practices of the Management Company and each General Partner, which together operate as a single advisory business. No General Partner has personnel other than those persons associated with the Management Company. Banner Oak provides discretionary investment advisory services to its clients, which consist of investment funds privately offered to qualified investors in the United States and elsewhere (each, a “Fund,” and together with

any future private investment fund for which Banner Oak provides investment advisory services, the “Funds”). The Funds may (i) invest in or create real estate operating and development companies and their subsidiaries (“Operating Companies”) that will source, acquire and manage real estate assets; (ii) invest into real estate assets on a side-by- side basis with the Operating Companies; or (iii) invest directly into real estate assets. Banner Oak may establish one or more affiliated co-investment vehicles, comprised of the Principals and employees of Banner Oak, to invest “side-by-side” with or through the Funds. Banner Oak’s investment advisory services to Funds consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and ultimately achieving dispositions for such investments. Additionally, Banner Oak will generally oversee the Funds’ assets in accordance with the terms of its advisory or management agreements, confidential offering and/or private placement memoranda, limited partnership agreement and other governing documents applicable to each Fund (the “Governing Documents”). Investment advice and management is provided directly to the Funds and not individually to the limited partners of or investors in the Funds (the “Investors”). All investment restrictions are described in the Governing Documents. Investors should review the Governing Documents for additional information regarding the Funds in which they have invested. As of December 31, 2023, Banner Oak managed on a discretionary basis $6,873,243,298 in regulatory assets under management on behalf of the Funds.