ADVISORY BUSINESS Parabellum Capital LLC (“Parabellum Capital” or the “Firm”), a Delaware limited liability company, is headquartered in New York, NY, and was founded in January 2012. Parabellum Capital is owned by Parabellum Founders Holding, LLC. Chief Executive Officer Howard Shams and Chief Investment Officer Aaron Z. Katz are the principals of Parabellum Capital (the “Principals”). Parabellum Capital seeks to generate long-term capital appreciation by primarily investing in a range of contracts, the underlying values of which are primarily derived from commercial litigation (the “Litigation Finance Investments”). Parabellum Capital provides discretionary investment advisory services to Parabellum Partners II, LP (“Fund II”) and Parabellum Partners III, LP (“Fund III”), both of which are Delaware limited partnerships formed as a private equity pooled investment vehicles, and to several feeder funds, some of which are Cayman Islands exempted companies (e.g., Parabellum Partners II Offshore, LTD and Parabellum Partners III Offshore, LTD) and some of which are Delaware Limited Partnerships (e.g., Fund III FL Partners LP and Parabellum Partners III Leveraged Return, LP). Fund II and Fund III are, collectively, “the Master Funds” while the Cayman and Delaware feeder funds are, collectively, “the Feeder Funds” which invest substantially all of their assets in the corresponding Master Funds. The Master Funds together with the Feeder Funds will be referred to as the “Funds.” Parabellum Capital also provides discretionary investment advisory services to two co-investment fund vehicles (the “Co-Investment Funds”) to co-invest in certain selected Litigation Finance Investment opportunities alongside the Funds. The Co- Investment limited partner investment rights are outlined in the Co-Investment governing documents. In addition, Parabellum Capital has transacted in certain prepaid forward purchase agreements and secondary offerings in order to generate partial realizations of certain litigation finance investments for the Client Funds. Parabellum retained investment advisory responsibilities for those specific litigation finance investments. Certain of the credit-oriented litigation finance investments, pre-paid forward purchase agreements and/or secondaries are managed via separately managed accounts (“SMA Clients”). The Client Funds and SMA Clients are each referred to as a (“Client”) and collectively Parabellum’s (“Clients”). The Master Funds, Feeder Funds, the Co-Investment Vehicles and the SMA Clients

are collectively referred to as the “Client Funds”. Parabellum provides discretionary investment management services to the Client Funds and SMA Clients in accordance with the applicable limited partnership agreements, investment management agreements, operating agreements, offering memoranda, asset management and prepaid forward purchase agreements and other such agreements (the “Offering Documents”). PBLM General Partner II, LLC and PBLM General Partner III, LLC, each a Delaware limited liability company, are the Client Funds’ General Partners, respectively (the “General Partner”). The Offering Documents of the Client Funds typically allow the general partner to control the business and affairs of the Client Funds. Parabellum is the manager of the SMA Clients. “Investors” refer to investors or limited partners, and/or SMA entities invested in the Clients. Parabellum does not expect to tailor advisory services to any individual or particular needs of the Investors in the Client Funds. Parabellum Capital may accommodate Investor restrictions at the Firm’s discretion. Generally, Investors accept the terms of advisory services as set forth in each Offering Documents. The Firm expects to have broad investment authority with respect to the Client Funds and, as such, investors should consider whether the investment objectives of the Client Funds are in line with their individual objectives and risk tolerance prior to investment. The Client Funds are exempt from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”), pursuant to Section 3(c)(7) of the Investment Company Act. Interests in the Client Funds are privately offered only to qualified investors. Generally, the Client Fund’s investors are high net worth individuals or institutions, such as endowments, foundations, pension funds, trusts, family offices, and other professional investors. Parabellum has, and may in the future, enter into agreements, commonly known as “Side Letters,” with certain investors under which Parabellum waives or modifies the application of certain investment terms applicable to such investors, without obtaining the consent of any other investor in the Fund (other than an investor whose rights would be materially and adversely affected by the waiver or modification). Parabellum Capital does not participate in wrap fee programs. As of December 31, 2023, the Firm managed $1,347,131,931 of discretionary regulatory assets under management and $101,391,345 of non-discretionary regulatory assets under management.