AREX Capital Management, LP is a Delaware limited partnership (hereinafter “AREX Capital,” “we”, “us”, “our”, the “Firm”, or the “Investment Manager”) founded in 2017. AREX Capital is a fundamental research driven, value‐oriented investment manager whose principal owner and portfolio manager is Andrew Rechtschaffen. AREX Capital serves as the investment adviser, with discretionary trading authority, to the following private pooled investment vehicles: AREX Capital Partners, LP, a Delaware limited partnership (the, “Onshore Fund”); AREX Capital, Ltd., a Cayman Islands exempted company (the “Offshore Fund”); and AREX Capital Master Fund, LP, a Cayman Islands exempted limited partnership (the “Master Fund,” and collectively with the Onshore and Offshore Funds where applicable, the “Fund” or “Funds”). The Onshore Fund and Offshore Fund invest all of their assets in the Master Fund. The Onshore Fund’s “Limited Partners” and the Offshore Fund’s “Shareholders” are hereafter collectively referred to as the “Investors” where appropriate. We do not tailor our advisory services to the individual needs of any particular Investor. The interests discussed herein include Series A interests (the “Series A Interests”) and Institutional interests (the “Institutional Interests”). The Fund previously offered Founders’ interests, which class closed on March 31, 2018. This Brochure does not constitute an offer to sell or a solicitation of an offer to buy any securities. The Funds’ securities are offered and sold on a private

placement basis under exemptions promulgated under the “Securities Act” of 1933 and other applicable state, federal, or non‐U.S. laws. Significant suitability requirements apply to prospective investors in the Funds, including requirements that they be “accredited investors” as defined in the Securities Act and “qualified purchasers” as defined in the Investment Company Act of 1940. Persons reviewing this Brochure should not construe this as an offer to sell or a solicitation of an offer to buy the securities of any of the Funds described herein. Any such offer or solicitation will be made only by means of a confidential private placement memorandum. The Investment Adviser also serves as an investment adviser with discretionary trading authority to, AREX Opportunity Fund, LP. (a Series LLC) & TRA, LP (also collectively referred to in conjunction with the above, as “The Funds”). The Firm currently provides discretionary investment advisory services to separately managed accounts (the “SMAs”). Separately managed accounts may be set‐up for certain large or strategic investors, at the Firm’s sole discretion, and will be subject to individually negotiated terms. Our investment decisions and advice with respect to each Fund are subject to each Fund’s investment objectives and guidelines, as set forth in its respective offering documents. We do not currently participate in any Wrap Fee Programs. As of December 31, 2023, the Firm has regulatory assets under management of approximately $133,933,000.