Firm Overview Fort Baker Capital Management LP (“FBCM” or “we”) was formed in 2015 to provide discretionary investment management services to a limited number of investment funds and institutional clients. Our principal place of business is in Larkspur, California. FBCM is a Delaware limited partnership of which Fort Baker Capital LLC (“FBCLLC”) is the sole general partner. Steven Patrick Pigott is the principal owner of FBCM, and as FBCLLC’s sole member, controls FBCM. Advisory Services As of December 31, 2022, FBCM manages regulatory assets under management of approximately $787,000,000. We began business in March 2016 by launching Fort Baker Catalyst Fund, LP, a Delaware limited partnership (the “U.S. Feeder”) and Fort Baker Catalyst Offshore Fund, Ltd., a Cayman Islands exempted company (the “Offshore Feeder”), each of which invests essentially all of its assets in Fort Baker Catalyst Master Fund, LP, a Cayman Islands exempted limited partnership (the “Master Fund”). Fort Baker Special Opportunities, SPC (the “SPC”), an exempted company incorporated and registered as a segregated portfolio company under the laws of the Cayman Islands, commenced operations on June 29, 2017. The SPC intends to establish separate portfolios from time to time in order to co-invest with the Master Fund in specific opportunities that FBCM identifies. This brochure refers to the U.S. Feeder and the Offshore Feeder as the “Feeders” and to the Feeders and the Master Fund, together, as the “Catalyst Funds.” It refers to the Catalyst Funds and the various separate portfolios of the SPC, together, as the “Funds.” FBCM is the Funds’ investment manager, with discretion to invest, reinvest, and otherwise manage the Funds’ assets. It is also the Offshore Feeder’s “sponsor,” with authority to perform certain non-investment activities for that entity. Fort Baker Capital Partners LP (the “General Partner”) is a FBCM affiliate, also controlled by Steven Patrick Pigott, which serves as the U.S. Feeder’s and the Master Fund’s sole general partner. The Feeders’ organizational documents require them to invest essentially all their assets in the Master Fund, so neither FBCM nor the General Partner exercises investment discretion at the Feeder level. We manage the Master Fund pursuant to the objectives described in the confidential offering memorandum (each, an “Offering Memorandum” and collectively, the “Offering Memoranda”) by which each Feeder offers its ownership interests to investors (participating, nonvoting shares in the Offshore Feeder and limited partnership interests in the U.S. Feeder; together “Feeder Investments”).

We manage each segregated portfolio of the SPC pursuant to the SPC’s confidential offering memorandum and the supplement to that offering memorandum (each a “Supplement”) related to that segregated portfolio. Our investment management agreements with the Funds generally impose no limits on the types of securities or other instruments in which the Funds may invest, the types of positions they may take, the concentration of their investments by sector, industry, fund, country, class or otherwise, the amount of leverage it may employ, or the number or nature of short positions it may take. The Funds’ investors do not have the right to specify, restrict, or influence the Funds’ investment objectives or any investment or trading decisions. In accordance with common industry practice, the General Partner of the Master Fund and the US Feeder or FBCM (in its capacity as the Offshore Feeder’s Sponsor or the SPC’s investment adviser) may enter into, and/or cause a Fund to enter into side letters or other similar agreements (collectively, “Side Letters”) with particular Limited Partners or Shareholders that have the effect of establishing rights under, or altering or supplementing the terms of, the Fund’s governing documents in a manner more favorable to such Limited Partners or Shareholders than those applicable to other Limited Partners or Shareholders. We also manage assets for clients other than our Funds, including investment vehicles sponsored by unrelated third party managers (and for whom we act as sub-advisor); in this brochure we may sometimes refer to these other clients as “Separate Account Clients.” We generally manage the assets of our Separate Account Clients pursuant to investment strategies and objectives similar, but not identical, to those of the Funds. Our Separate Account Clients may include registered investment companies or other regulated investment vehicles (such as EU-regulated “Undertakings for the Collective Investment in Transferable Securities”, or UCITS, products). We also participate in certain “alpha capture” programs through which we may, from time to time, submit individual trade signals (for example, “buy”, “sell” or “hold” signals for particular securities), generally through an electronic platform, to third-party investment advisors who collect such signals from multiple sources to inform their own trading decisions. While we do not regard this as constituting investment advisory services per se, our participation in these programs is subject to our overall compliance policies and procedures, including our Code of Ethics (described in more detail under Item 11 below). Fort Baker does not participate in wrap fee programs.