This brochure applies to Antarctica Investment Advisors, LLC (“AIA”) and relying advisers Antarctica Data Partners, LLC (“ADP”), Antarctica Infrastructure Partners, LLC (“AIP”), Antarctica Structured Investment Advisors, LLC (“ASIA”), Antarctica Credit Partners, LLC (“ACP”), Antarctica Real Estate Partners, LLC (“AREP”), and Antarctica Special Situations Partners, LLC (“ASSP”) (collectively the “Relying Advisers”, and together with AIA, the “Advisers”) are all Delaware limited liability companies. AIA is a Delaware limited liability company that commenced operations in 2014 and is registered as an investment adviser pursuant to the Investment Advisers Act of 1940, as amended (the “Advisers Act”) with the U.S. Securities and Exchange Commission (the “SEC”). Each Relying Adviser relies on the investment adviser registration of AIA, which files a single umbrella registration on behalf of itself and the Relying Advisers. The Relying Advisers were launched as follows: ADP, a limited liability company which was formed in 2021, AIP, a limited liability company which was formed in 2012, ASIA, a limited liability company which was formed in 2018, ACP, a limited liability company which was formed in 2019, AREP, a limited liability company which was formed in 2006, and ASSP, a limited liability company which was formed in 2022. Antarctica Capital, LLC (the “Sponsor”) is dedicated to investments in private equity, debt, infrastructure, real estate, growth capital, special situations, alternative energy, and structured credit strategies, which invest capital primarily through acquiring interests in companies or underlying assets. The indirect principal owner of the Sponsor and each of the Advisers is Chandra R. Patel (the “Managing Member”), who, together with certain other members of the senior management team of the Sponsor, indirectly controls the Sponsor and the Advisers. The Sponsor and the Advisers collectively operate as an alternative asset management firm headquartered in New York City under the name “Antarctica Capital.” For purposes of this brochure, “Antarctica Capital” includes (where the context permits) affiliated general partners of the Funds (as defined below) and other affiliates that provide advisory, management or other services to the Funds. In addition, in the future the Sponsor may establish an affiliate to provide investment advisory services to certain entities, and/or investment vehicles, the investment strategy of which could be similar to, overlap with, or be different from the strategies of the Funds (as defined below). Antarctica Capital’s investment approach emphasizes deep knowledge of industry and target asset/company dynamics, conviction around specific trends, and the pursuit of catalyst-driven market opportunities. The Advisers’ objective is to offer investors access to transaction opportunities that are either off-market or require a particular set of expertise and relationships not readily available to other alternative investment managers. This often leads an Adviser towards investment strategies or overlooked

companies and assets that it believes can be enhanced through operational transformation or consolidation strategies. The Advisers have an absolute return focus which leads them to rigorously evaluate and build conviction around idiosyncratic investment opportunities. The Advisers manage various private funds and other pooled investment vehicles, including single-investor funds customized for the needs of a particular investor (each a “Fund” and collectively, “Funds”). Investment advisory services provided to each Fund are tailored to such Fund’s specific investment strategy, objectives, limitations and restrictions, as set forth in each investment advisory agreement, private placement memorandum, offering circular and other Fund constituent documents (“Fund Documents”). To the extent permitted by the relevant Fund Documents, Antarctica Capital on behalf of a Fund, as applicable, can, in its sole and absolute discretion, agree to waive or modify the application of any provision of the offering terms described herein with respect to any limited partner, by side letter or otherwise, without obtaining the consent of any other limited partner. Such side letters can provide for the following modified terms: (i) various notification requirements; (ii) limitations on the Fund’s ability to distribute securities in kind; (iii) the provision of audited financial statements within certain periods of time; (iv) the provision of information relating to a Fund’s portfolio holdings (subject to non- disclosure agreements and other confidentiality considerations); (v) reduced management fees, carried interest or fee rebates; (vi) minor investment restrictions that do not materially affect a Fund; (vii) the provision of periodic pricing information; or (viii) provisions necessary to accommodate a particular investor’s legal, tax, sovereign or regulatory status, accounting considerations, contractual obligations, or internal guidelines or policies. The Advisers’ investment strategies include SEREY™, SIGA®, and SARO®. The SEREY™ (Structured Equity Release and Enhanced Yield) strategy utilizes annuity-based reinsurance to provide investors an opportunity to finance illiquid assets attractively, providing incremental yield/return and diversification of exposure. SIGA® (Secure Income and Growth Assets) is an investment strategy for originating and optimizing investments related to real assets that offer income generation and opportunities for capital appreciation. The SARO® (Structural Alpha and Return Optimization) strategy seeks to enhance asset values through the identification of structural alpha and return optimization. SARO®'s value creation levers include structural arbitrage, capital optimization, maturity transformation, collateral transformation, credit transformation, liquidity transformation, and regulatory optimization. Please see Item 8 - Methods of Analysis, Investment Strategies and Risk of Loss for additional detail. As of December 31, 2023, the Advisers had approximately $3,508,548,221 in client regulatory assets under management on a discretionary basis.