Adviser’s Advisory Business RAYS Capital Partners Limited, a company incorporated with limited liability in Hong Kong (the “Adviser”), acts as the investment adviser to one or more private investment funds and separately managed accounts. The Adviser was established in 2010. The Adviser is principally owned by David Ching Chi RUAN and CHAN Chung Yuen, Lawrence, both Managing Partners. The Adviser is licensed with the Securities and Futures Commission in Hong Kong to carry on the activities of advising on securities (Type 4) and asset management (Type 9) under the Securities and Futures Ordinance. Types of Advisory Services offered by the Adviser As an investment adviser, the Adviser provides portfolio management services, including discretionary management and monitoring of investments, to investment funds and separately managed accounts in accordance with the objectives, restrictions and guidelines as stated in each Private Placing Memorandum (“PPM”) or the investment mandate(s). The investment activities will primarily focus on investments in various kinds of assets and securities in various Asian markets and any other markets that may fit within the objectives and strategies described in PPM of respective investment fund or investment mandate of respective individual client. As of December 31, 2023, the Adviser manages the following open-ended investment funds: - Asian Opportunities Absolute Return Master Fund Limited (“AOFM”), and, one feeder fund – Asian Opportunities Absolute Return Fund Limited (“AOF”) - Asian Equity Special Opportunities Portfolio Master Fund Limited (“AESOPM”), and, one feeder fund – Asian Equity Special Opportunities Portfolio Limited (“AESOP”) - Asian Technology Absolute Return Fund (“ATF”) - Asian Healthcare Discovery Master Fund (“AHDFM”), and one feeder fund – Asian Healthcare Discovery Fund (“AHDF”) - Greater China ESG Opportunities Absolute Return Fund (“GCESG”) - Stable Income Fund (“SIF”) - LM Growth Fund (“LMGF”) (Note: Both AHDFM and AHDF ceased operations on March 22, 2024 and will be place in voluntary

liquation before end of year 2024.) All the investment funds above, collectively the “Funds”, are Cayman Islands exempted companies. Interests in the Funds are not registered securities under the U.S. Securities Act of 1933, as amended (the “Securities Act”). In addition, the Funds are not registered as an investment companies under the U.S. Investment Company Act of 1940, as amended (the “Investment Company Act”). Accordingly, interests in the Funds are offered and sold exclusively to investors satisfying the applicable eligibility and suitability requirements in private transactions pursuant to available exemptions under the Securities Act, the Investment Company Act and any applicable U.S. state securities laws. The Adviser provides direct investment advisory services for Professional Investors, as defined in the Securities and Futures Ordinance of Hong Kong. If and when the Adviser provides direct investment advisory services for accredited investors and qualified clients that are US Persons on a discretionary basis, the Adviser will develop customized investment strategies based on the stated investment objectives, risk tolerance and financial circumstances of each client and such client may impose reasonable restrictions on the management of their accounts, including by restricting particular securities or types of investments. Currently, the Funds generally may not impose restrictions on the management of their accounts, other than restrictions stated in the PPMs of the Funds and other restrictions that are customary in the ordinary course of business. Clients should be aware that performance of restricted accounts may differ from performance of accounts without such impediments, possibly producing lower overall results. The Adviser does not participate, sponsor or act as a portfolio manager for any wrap fee programs. Assets Under Management As of December 31, 2023, the Adviser had regulatory assets under management of approximately US$ 472,376,000, all of which was managed on a discretionary basis.