KMC Management, Ltd. (herein referred to as “KMC,” “the Adviser,” or “the Firm”) is a limited partnership established in July of 2004 and is wholly owned by Joseph A. Feste. KMC is a full-service private wealth management firm that provides a variety of financial services, including, but not limited to:
• Investment Advisory Services: investment strategy, risk tolerance assessment, asset allocation, portfolio construction, and third-party manager and alternative investment recommendations.
• Bill Pay and Bookkeeping Services: cash flow monitoring and management, budgeting, bill pay, and tax preparation support services.
• Other Financial Services: risk management and insurance planning, large asset purchase assistance, and other concierge and administrative services. Investment Advisory Services Investment advisory services are provided on a discretionary and/or non-discretionary basis to the following clients: (i) separate accounts for high-net-worth individuals and other types of clients (“Managed Account Clients”); and (ii) one privately offered pooled investment vehicle, KM Capital Venture Partners III, L.P. (the “Fund” or together with Managed Account Clients, “Clients”)). It is anticipated that KMC will also sponsor (or act as sub-adviser) to other privately offered pooled investment vehicles. Managed Account Clients are generally invested in accordance with the client’s financial goals, tolerance for risk, time horizon, and retirement objectives. Managed Account Client portfolios will typically be invested in a variety of investment products on a discretionary basis, including but not limited to exchange traded funds (“ETFs”), mutual funds, stocks, bonds, and money market funds or other cash equivalents. If a Managed Account Client experiences any significant changes to his or her financial or personal circumstances, the Managed Account Client must notify KMC so that the Firm can consider such information in managing the Managed Account Client’s investments. KMC has engaged 55I, LLC d/b/a 55ip (“55ip), a registered investment adviser with SEC, as a sub-adviser to assist certain Managed Account Clients with the administration of tax-aware transitions into model portfolios and provide ongoing, automated tax management. Managed Account Clients must sign a limited power of attorney form via TD Ameritrade (“TDA”) to participate in 55ip’s services. 55ip supervises and executes trades with respect to assets in Managed Account Client’s 55ip accounts (“55ip Accounts”) in accordance with the investment objective and strategies as instructed by KMC. Within its sub-advisory agreement with 55ip, KMC has engaged BlackRock Fund Advisors (“BlackRock”) and the use of BlackRock’s Custom Model Solutions (“CMS”) to manage Managed Account Client 55ip accounts. See further disclosures associated with 55ip in Items 5 and 8 below. KMC also recommends and monitors private placements in alternative investments for qualified Managed Account Clients. On occasion,

KMC may establish a stand-alone pooled investment vehicle to hold the investment, and the relevant Managed Account Clients will then invest in such a vehicle (i.e. KM Capital Venture Partners III, L.P.). Alternatively, KMC will recommend the Managed Account Client to invest directly in the private placement offering (“Direct Private Placement”). All KMC Managed Account Client recommendations in a Fund or Direct Private Placements are offered on a non- discretionary basis to qualified persons. March 2024 5 of 19 Bill Pay and Bookkeeping Services As part of the Firm’s bill pay and bookkeeping services, KMC will help Managed Account Clients to set up new bank accounts and create a Quicken and/or QuickBooks client file, where the Firm will record all checks, credit and debit card charges, wires, journals and transfers. KMC will also move funds as requested and approved by the Managed Account Client, transfer monthly budget amounts, reconcile accounts, provide monthly cash flow reports, review check registers and prepare reconciliation reports (All reports shall be prepared based only upon information processed by KMC and supplied by the Managed Account Client. KMC shall have no obligation to secure any such required documents from any other source.). In addition, the Firm will prepare annual financial reports, process bill payments with Managed Account Client approval, and handle any correspondence with Client’s vendors to reconcile any discrepancies. The above-mentioned services are based on the service level desired by the Managed Account Client. Other Financial Services As needed, KMC will assist Managed Account Clients with obtaining proper insurance coverage, including property and casualty insurance (homeowners, renters, auto, and personal articles), excess liability insurance, disability insurance, and life insurance. The Firm will also assist Managed Account Clients with large asset purchases, such as buying a home or vehicle. The Firm may also assist with other day-to-day needs upon request. General Information Managed Account Clients are advised that the investment recommendations and advice offered by KMC are not considered to be legal or accounting advice. Managed Account Clients should coordinate and discuss the impact of financial advice with their attorney and/or accountant. Advice will be tailored to the individual needs and circumstances of each Managed Account Client based upon KMC’s understanding of each Managed Account Client’s financial situation, risk tolerance, and retirement goals and objectives. KMC may agree to reasonable investment restrictions imposed by its Managed Account Clients. Fund clients are managed in accordance with the respective offering documents. Offering documents include but are not limited to private placement memorandums, limited partnership agreements, and side letters, as applicable. KMC does not participate in any wrap fee programs. As of December 31, 2023, KMC has approximately $252,440,028 Client assets under discretionary management and $55,465,071 in non-discretionary assets.