A. Firm Information and Ownership Metropolitan, a Delaware limited liability company founded in 2008, is an alternative investment manager with its principal place of business in New York City. Metropolitan is majority owned by PKL Holdings, LLC as a direct owner of the Firm. Mr. Lisiak, the Firm’s founder and Managing Partner, is the controlling stockholder and director of PKL Holdings, LLC. The Firm provides investment advisory services to its clients as defined below. B. Description of Advisory Services Metropolitan’s core growth debt strategy is a direct lending strategy aiming to provide senior-secured, transitional capital to US-based small and mid-sized businesses that generally have not had an institutional investor. These lower-middle-market enterprises are typically going through a period of rapid growth and require additional capital in order to achieve scale. Mr. Lisiak, together with the investment committee, oversees the investment activities. The Firm aims to make short/medium-term loans to fundamentally sound companies across several business sectors with a typical loan term of 12 to 36 months, with typical deal size ranging from $5 million to $40 million. Metropolitan provides discretionary advisory services to private pooled investment vehicles (“Fund(s)”). From time to time, Metropolitan offers non-discretionary investment advisory services to co-investors (“Co-Investor(s)”). The Funds and the Co-Investors are the Firm’s clients (“Clients”). Funds Metropolitan provides discretionary advisory services to Funds. Each Fund is managed by a general partner affiliated with the Firm (the “General Partner(s)”), which has the authority to make investment decisions on behalf of its respective Fund. The General Partners have delegated their management responsibilities to Metropolitan, which also serves as the investment adviser to the Funds under the Investment Advisers Act of 1940, as amended, and the rules and regulations promulgated thereunder (the “Advisers Act”) in accordance with guidance from the SEC’s staff. Each General Partner relies on Metropolitan’s registration. This Brochure also describes the business practices of the General Partners, which operate as a single advisory business together with the Firm, and, as such, references herein to Metropolitan shall, as the context requires, include the applicable General Partners. For further information regarding these entities, see Item 10. Limited partnership interests in the Funds are offered to investors (“Fund Investor(s)”) on a private placement basis in compliance with Regulation D under the Securities Act of 1933, as amended, and are exempt from registration under Section 3(c)(1) or 3(c)(7) of the Investment Company Act of 1940, as amended, subject to certain conditions that are set forth in the governing documents for each Fund (“Governing Documents”). Interests in the Funds are not registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Accordingly, interests in the Funds are offered and sold exclusively to investors satisfying the applicable eligibility and suitability requirements either in private transactions within the United States or in offshore jurisdictions. The Governing Documents, including the limited partnership or operating agreement, subscription agreement, private placement memorandum and investment advisory agreement, contain the material terms applicable to each Fund. The Funds are structured as long-term investment vehicles with expiration terms provided in the Governing Documents for each Fund, usually upon realization of the last underlying investment. The Funds either Delaware limited partnerships or Cayman Islands-domiciled limited partnerships registered with the Cayman Islands Monetary Authority. The Firm does not tailor its advisory services to the individual needs of the Fund Investors, rather its investment advice and authority for the Funds is tailored to the investment objectives of that Fund as set forth in the applicable Governing Documents. The Firm does not

seek or require Fund Investor approval regarding each investment decision. Each Fund has an advisory council comprised of Fund Investors selected by the General Partner. The purpose of the advisory council is to serve as a resource and allow Metropolitan to incorporate the council’s input into Metropolitan’s decision-making process to help mitigate potential conflicts of interest that may arise pertaining directly to their specific Fund. In some instances, the Governing Documents of a Fund require that approval of that Fund’s advisory council be obtained in circumstances where a conflict of interest has, or might have, arisen. Metropolitan and/or its affiliates enter into side letters or similar agreements (“Side Letters”) with certain Fund Investors that have the effect of establishing rights under, or altering or supplementing, the Governing Documents in a manner more favorable to such Fund Investor than those applicable to other Fund Investors. As a result of such Side Letters, certain Fund Investors receive additional benefits that other Fund Investors will not receive, including, without limitation, some or all of the following: better economic terms such as a reduced or otherwise more favorable management fee and/or Carried Interest (as defined below); certain co-investment rights; information rights; excuse rights and transfer rights. Side Letters may govern the terms of investments made by Fund Investors who serve on the advisory council to the Funds. Side Letters are negotiated prior to the Fund Investor’s signing of the relevant subscription documents. The other Fund Investors will have no recourse against the Funds, Metropolitan or any of its affiliates in the event that certain Fund Investors receive additional or different rights or terms as a result of such Side Letters. The Firm will also sometimes enter into transactions with certain Fund Investors (including allowing them to be Co-Investors). The terms of these transactions are negotiated on an arm’s-length basis. However, the Firm is subject to a conflict of interest when determining such terms because it may benefit from retaining the Fund Investor or providing them an incentive to invest in future funds. Co-Investments From time to time, Metropolitan may, in its sole discretion, offer one or more Fund Investors (other than in their capacity as a limited partner), or a person other than a Fund Investor (e.g., strategic investors, lenders, employees and expert advisors), with the opportunity to participate in co-investment or “overflow” opportunities with the Fund in a portfolio company or provide financing to certain portfolio companies, subject to such timing and other conditions as the Firm may in its sole discretion impose. Typically, a co-investment opportunity is offered when Funds, due to the size or risk of an investment opportunity, availability of sufficient liquidity (i.e., cash) or legal, tax or regulatory considerations, are either prohibited from or unable to acquire the entire investment on their own, or it is not in the Funds’ best interest to acquire the entire investment on their own. Once the Firm has offered a co-investment opportunity, some Co-Investor accounts will transact with the borrower directly without granting Metropolitan any authority to set forth or amend the terms of the deal on their behalf. In such a case, the Firm is not authorized, without prior consultation with the Co-Investor, to make investment decisions concerning the Co-Investor account, i.e., to make purchases, sales or otherwise effect transactions in the Co-Investor account. Some co-investment opportunities are offered through co-investment vehicles which are controlled and managed by the Firm. Co-Investors who invest through such vehicles give the Firm some discretion to manage the investment opportunity once they have consented to participate in the overflow opportunity, and the Firm is permitted to make certain amendments to the terms of the underlying deal without Co- Investor consent. The Firm treats certain Co-Investor accounts as Clients.