4. A. Advisory Firm Description Sage Mountain offers a variety of advisory services, which include financial planning, consulting, and investment management services. Prior to Sage Mountain rendering any of the foregoing advisory services, clients are required to enter into one or more written agreements with Sage Mountain setting forth the relevant terms and conditions of the advisory relationship (the “Advisory Agreement”). As part of our fiduciary duty as a registered investment adviser, Sage Mountain endeavors to put the interests of its clients first, at all times. Sage Mountain has been registered as an investment adviser since September 2018 and is owned by Scott Neu (principally through Lake Chutes, Inc.) and Anthony Cox. While this brochure generally describes the business of Sage Mountain, certain sections also discuss the activities of its Supervised Persons, which refer to the Firm’s officers, partners, directors (or other persons occupying a similar status or performing similar functions), employees or other persons who provide investment advice on Sage Mountain’s behalf and are subject to the Firm’s supervision or control. 4.B. Types of Advisory Services Financial Planning and Consulting Services Sage Mountain offers clients a broad range of financial planning and consulting services, which include any or all of the following functions:
• Business Planning
• Cash Flow Forecasting
• Trust and Estate Planning
• Financial Reporting
• Investment Consulting
• Insurance Planning
• Retirement Planning
• Risk Management
• Charitable Giving
• Distribution Planning
• Tax Planning
• Manager Due Diligence While each of these services is available on a stand-alone basis, certain of them can also be rendered in conjunction with investment portfolio management as part of a comprehensive wealth management engagement (described in more detail below). In performing these services, Sage Mountain is not required to verify any information received from the client or from the client’s other professionals (e.g., attorneys, accountants, etc.,) and is expressly authorized to rely on such information. Sage Mountain recommends certain clients engage the Firm for additional related services and/or other professionals to implement its recommendations. Clients are advised that a conflict of interest exists for the Firm to recommend that clients engage Sage Mountain or its affiliates to provide (or continue to provide) additional services for compensation, including investment management services. Clients retain absolute discretion over all decisions regarding implementation and are under no obligation to act upon any of the recommendations made by Sage Mountain under a financial planning or consulting engagement. Clients are advised that it remains their responsibility to promptly notify the Firm of any change in their financial situation or investment objectives for the purpose of reviewing, evaluating or revising Sage Mountain’s recommendations and/or services. Wealth Management Services Sage Mountain offers clients wealth management services, which include a broad range of financial planning and consulting services as well as discretionary and/or non-discretionary management of investment portfolios. Sage Mountain primarily allocates client assets among various mutual funds, exchange- traded funds (“ETFs”), real estate investment trusts (“REITs”) and independent investment managers (“Independent Managers”) in accordance with their stated investment objectives. In addition, Sage Mountain expects to recommend that certain eligible clients invest in privately placed securities including pooled investment vehicles such as hedge funds and private equity funds. Where appropriate, the Firm also provides advice about any type of legacy position or other investment held in client portfolios. Clients can engage Sage Mountain to manage and/or advise on certain investment products that are not maintained at their primary custodian, such as variable life insurance and annuity contracts and assets held in employer sponsored retirement plans and qualified tuition plans (i.e., 529 plans). In these situations, Sage Mountain directs or recommends the allocation of client assets among the various investment options available with the product. These assets are generally maintained at the underwriting

insurance company, or the custodian designated by the product’s provider. Use of Independent Managers As mentioned above, Sage Mountain selects certain Independent Managers to actively manage a portion of its clients’ assets. The specific terms and conditions under which a client engages an Independent Manager may be set forth in a separate written agreement with the designated Independent Manager. In addition to this brochure, clients may also receive the written disclosure documents of the respective Independent Managers engaged to manage their assets. Sage Mountain evaluates a variety of information about Independent Managers, which includes the Independent Managers’ public disclosure documents, materials supplied by the Independent Managers themselves and other third-party analyses it believes are reputable. To the extent possible, the Firm seeks to assess the Independent Managers’ investment strategies, past performance and risk results in relation to its clients’ individual portfolio allocations and risk exposure. Sage Mountain also takes into consideration each Independent Manager’s management style, returns, reputation, financial strength, reporting, pricing and research capabilities, among other factors. Sage Mountain continues to provide services relative to the discretionary or non- discretionary selection of the Independent Managers. On an ongoing basis, the Firm monitors the performance of those accounts being managed by Independent Managers. Sage Mountain seeks to ensure the Independent Managers’ strategies and target allocations remain aligned with its clients’ investment objectives and overall best interests. Private Investment Funds Sage Mountain provides discretionary investment advisory services to pooled investment vehicles (the “Private Investment Funds”) in accordance with the investment guidelines set forth in each Private Investment Fund’s offering documents. Sage Mountain is responsible for the investment decisions and performance of the Private Investment Funds. Sage Mountain does not tailor its investment advice to the needs of the investors of the Private Investment Funds. Investors are required to meet certain suitability requirements, such as being an “Accredited Investor,” a “Qualified Client” and/or a “Qualified Purchaser” as defined under federal laws. Investors interested in a Private Investment Fund should refer to the Private Investment Fund’s offering documents for important information regarding the Private Investment Fund’s investment objectives, risks, fees and additional disclosures for a complete understanding of the terms and conditions for investing in the relevant Private Investment Fund. Sage-Mtn Tiger Global PIP 15 Access GP, LLC, a Delaware limited liability company, is the General Partner of Sage-Mtn Tiger Global PIP 15 Access Fund LP. Sage-Mtn Tiger Global Flagship Fund Onshore GP, LLC, a Delaware limited liability company, is the General Partner of Sage-Mtn Tiger Global Flagship Fund Onshore. Sage-Mtn Tiger Global Flagship Fund Cayman GP LLC, a Cayman Islands exempted limited partnership, is the General Partner of Sage-Mtn Tiger Global Flagship Fund Cayman. 4.C. Client Investment Objectives/Restrictions Sage Mountain tailors its advisory services to meet the needs of its individual clients and seeks to ensure, on a continuous basis, that client portfolios are managed in a manner consistent with those needs and objectives. Sage Mountain consults with clients on an initial and ongoing basis to assess their specific risk tolerance, time horizon, liquidity constraints and other related factors relevant to the management of their portfolios. Clients are advised to promptly notify Sage Mountain if there are changes in their financial situation or if they wish to place any limitations on the management of their portfolios. Clients can impose reasonable restrictions or mandates on the management of their accounts if Sage Mountain determines, in its sole discretion, the conditions would not materially impact the performance of a management strategy or prove overly burdensome to the Firm’s management efforts. 4.D. Wrap-Fee Programs Sage Mountain does not currently participate in any wrap-fee programs. 4.E. Client Assets as of December 31, 2023: Assets Under Management: Discretionary basis: $ 2,186,271,504 Non-Discretionary basis: $3,813,580 Assets Under Advisement: $ 1,490,953,216