Varsity Management Company, LP, a Delaware limited partnership, is a registered investment adviser commonly known, along with its affiliates, as “Varsity Healthcare Partners” and provides, through its affiliated investment advisers, investment advisory services to investment funds privately offered to qualified investors in the United States and elsewhere. Varsity Management commenced operations in February 2014. Varsity Management’s clients include the following (each, a “Fund,” and together with any future private investment fund to which Varsity Management or its affiliates provide investment advisory services, the “Funds”):  Varsity Healthcare Partners II, LP; and  Varsity Healthcare Partners II-A, LP (together with Varsity Healthcare Partners II, LP, “VHP II”).  Varsity Healthcare Partners III, LP; and  Varsity Healthcare Partners III-A, LP (together with Varsity Healthcare Partners III, LP, “VHP III”).  Varsity Healthcare Partners IV, LP; and  Varsity Healthcare Partners IV-A, LP  Varsity Healthcare Partners IV-B, LP (together with Varsity Healthcare Partners IV, LP, “VHP IV”)  Varsity Healthcare Partners VetEvolve Co-Invest, LP; and  Varsity Healthcare Partners VetEvolve Co-Invest A, LP (together with Varsity Healthcare Partners VetEvolve Co-Invest, LP, “VHP VE CO”)  Varsity Healthcare Partners Beghou Co-Invest, LP (“VHP B CO”) The following general partner entities are affiliated with Varsity Management:  Varsity Healthcare Partners GP II, LP (“VHP II GP”)  Varsity Healthcare Partners GP III, LP (“VHP III GP”)  Varsity Healthcare Partners GP IV, LP (“VHP IV GP”) (VHP II GP, VHP III GP, and VHP IV GP each, a “General Partner,” and collectively with Varsity Management and their affiliated advisory entities, the “Advisers” or “VHP”). Each General Partner is subject to the Advisers Act pursuant to Varsity Management’s registration in accordance with SEC guidance. This Brochure also describes the business practices of the General Partners, which operate as a single advisory business together with Varsity Management. The Funds are private equity funds and invest through negotiated transactions in operating entities, generally referred to herein as “portfolio companies”. VHP’s investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and achieving dispositions for such investments. Although investments are made predominantly in non-public companies, investments in public companies are permitted. From time to time, where such investments consist of portfolio companies, the senior principals or other personnel of VHP or its affiliates generally serve on such portfolio companies’ respective boards

of directors or otherwise act to influence control over management of portfolio companies in which the Funds have invested. VHP’s advisory services for the Funds are detailed in the applicable private placement memoranda or other offering documents (each, a “Memorandum”), limited partnership or other operating agreements or governing documents (each, a “Partnership Agreement”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss”. Investors in the Funds participate in the overall investment program for the applicable Fund, but may be excused from a particular investment due to legal, regulatory or other agreed-upon circumstances to the extent permitted under the relevant Partnership Agreement. The Funds or the General Partners generally expect to enter into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights (including economic or other terms) under, or altering or supplementing the terms of, the relevant Partnership Agreement with respect to such investors. Additionally, from time to time and as permitted by the relevant Partnership Agreement, VHP expects to provide (or agree to provide) co-investment opportunities (including the opportunity to participate in co-invest vehicles) to certain investors or other persons, including other sponsors, market participants, finders, consultants and other service providers, VHP personnel and/or certain other persons associated with VHP and/or its affiliates. Such co-investments are typically expected to involve investment and disposal of interests in the applicable portfolio company at the same time and on the same terms as the Fund making the investment. However, from time to time, for strategic and other reasons, it is expected that a co-investor or co-invest vehicle may purchase a portion of an investment from one or more Funds after such Funds have consummated their investment in the portfolio company (also known as a post-closing sell-down or transfer). Any such purchase from a Fund by a co-investor or co-invest vehicle is generally expected to occur shortly after the Fund’s completion of the investment to avoid any changes in valuation of the investment, and it is expected that the co-investor or co-invest vehicle may be charged interest on the purchase (or otherwise equitably to adjust the purchase price under certain conditions) to compensate the relevant Fund for the holding period, and generally will be required to reimburse the relevant Fund for related costs. As of December 31, 2023, VHP managed approximately $1,829,641,406 in client assets on a discretionary basis. The general partner of Varsity Management is Varsity Management Company GP, LLC, which is principally owned by David Alpern and Kenton Rosenberry.