Medalist is an alternative investment management firm headquartered in New York City focused on asset-based private credit and structured credit. Prior to the formation of Medalist in May 2018, certain senior members of the Medalist investment team have worked together dating back to 2000, initially for certain wholly-owned subsidiaries of Credit Suisse Group AG and thereafter with Candlewood Investment Group, LP. Medalist was formed as a Delaware limited liability company in 2017 and converted to a Delaware limited partnership in 2018. The principal owners and partners of Medalist are Gregory Richter, Michael Ardisson and John Slonieski. Gregory Richter is also the managing member of Medalist Partners General LLC, the general partner of Medalist. Medalist commenced operations on May 1, 2018. Medalist provides investment management services to private pooled investment vehicles, including private funds and real estate investment trusts (“REITs”)(collectively, the “Medalist Funds”) that are offered to investors on a private placement basis, to regulated investment vehicles, including investment companies registered under the Investment Company Act of 1940 (“Investment Company Act”) (each a “RIC”) and funds operated in compliance with the Undertakings for Collective Investment in Transferable Securities Directive (“UCITS”), and to other institutional managed account clients, including pension funds (each an “SMA” and, together with the RIC and UCITS clients, collectively, the “Institutional Clients”) . The RICs advised by Medalist include Medalist Partners MBS Total Return Fund and Medalist Partners Short Duration Fund (both a series of Advisers Series Trust). The private investment vehicles Medalist advises generally are structured as Delaware limited partnerships, Delaware limited liability companies, Maryland statutory trusts, Cayman Islands exempted limited partnerships and Cayman Islands exempted companies. Generally, Medalist is appointed as an investment manager with discretionary trading authorization in connection with the investment management services it provides to the Medalist Funds. Medalist

generally provides discretionary investment management services.. Medalist Partners Opportunity II, LLC and Medalist Partners Private Credit III GP LLC (collectively, the “Relying Advisers”) are each a related adviser of Medalist under Rule 203A-2(b) and, furthermore, are disclosed as relying advisers of Medalist on Schedule R of Part 1A of this Form ADV. The Relying Advisers each serves as a general partner and trustee to certain Medalist Funds (including certain REITs). The Relying Advisers have each delegated day-to-day management of the Medalist Funds for which it serves as a general partner or trustee to Medalist. Accordingly, the operational disclosures and risks set forth herein with respect to Medalist also generally apply to the Relying Advisers. Medalist employs multiple strategies on behalf of its clients, including, but not limited to, structured credit, asset finance, current income, opportunistic credit, and specialty lending strategies. Such strategies involve various liquidity profiles, including liquidity only upon realization events or semi-annual, quarterly or daily liquidity. Medalist has also sponsored co- investment vehicles to make specific investments. The Medalist Funds maintain certain individual position and industry limits, calculated at the time investments are made, based on aggregate net asset value. Investors and prospective investors in each Medalist Fund, RIC or UCITS fund (collectively, the “Client Funds”) should refer to the confidential private placement memorandum, offering documents, limited partnership agreement and/or memorandum and articles of association and other governing documents for the respective Medalist Fund, RIC or UCITS fund (the “Governing Documents”) for more complete information on the investment objectives and investment restrictions with respect to a particular Client Fund. There is no assurance that any of the Client Funds’ investment objectives will be achieved. As of December 31, 2023, Medalist managed regulatory assets under management of approximately $2,016,733,602 on a discretionary basis and $0 on a non-discretionary basis.