Orange History and Principal Owners Orange Investment Advisors, LLC, a Delaware limited partnership, was incorporated in April 2017 and began advising its first client on August 21, 2018. Orange is an investment adviser registered with the SEC under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). The Firm’s principal owners are OIA Management Holdings, LLC (owned by Jay Menozzi) and BP Structured Investments, LLC (owned by Boris Peresechensky). Orange’s principal place of business is Winter Park, FL. Types of Investment Services Offered Orange Investment Advisors, LLC (“Orange”) provides discretionary and non-discretionary advisory services to institutional clients and pooled investment vehicles, including public and private investment companies. The Firm specializes in strategies involving fixed income securities including structured credit securities such as residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), asset-backed securities (ABS), and collateralized loan obligations (CLO). Investment Funds Orange provides discretionary investment advisory services to pooled investment vehicles, including one private fund and one public fund. The private fund is Orange Credit Dislocation Fund, LP, a Delaware limited partnership (“Private Fund”). Its general partner is Orange Capital Partners, LLC, a Florida limited liability company. Orange provides discretionary investment advisory services as sub-advisor to the Easterly Income Opportunities Fund, a registered mutual fund which is a series of the James Alpha Funds Trust D/B/A

Easterly Funds Trust (“Public Fund”). The advisory services provided by Orange to each Fund is tailored to the Fund’s investment objectives, investment strategies and investment restrictions, if any, set forth in the offering documents of the respective Fund as well as the Investment Management Agreement (“IMA”) between Orange and the respective Fund. Orange does not tailor its advisory services or investment objectives or strategies to the requests or needs of individual Fund investors. Investors are not permitted to restrict the Fund’s investments. For further description of Orange’s investment objectives and strategies and associated risks, please see Item 8, Method of Analysis, Investment Strategies and Risk of Loss. Also, all Funds’ investors and qualified potential investors should refer to the Fund’s Private Placement Memorandum, Prospectus, and other offering documents. Separately Managed Accounts Orange provides discretionary and non-discretionary investment advisory services to Institutional clients in separately managed accounts (“SMAs”). In the case of SMAs, Orange’s investment advisory services will be tailored to the client’s specific investment objectives and guidelines, developed in consultation with the client, as set forth in the IMA between the Firm and the SMA client. SMA advisory services may be similar to investment advisory services provided to the Funds. Assets Under Management As of 12/31/2023, Orange managed $330,724,950 on a discretionary basis and $225,154,236 on a non-discretionary basis, for a total of $555,879,186 in regulatory assets under management.