The Adviser is a Delaware limited liability company, based in Chicago, IL, together (where the context permits) with its affiliated general partners, GLS Capital Partners GP, LLC and GLS Capital Partners GP II, LLC (the “General Partners”), of the Funds (as defined below) and other affiliates that provide advisory services to and/or receive advisory fees from the Funds. Such affiliates are currently and would typically be under common control with GLS Capital, LLC. These affiliates have been and may in the future be formed for tax, regulatory or other purposes in connection with the organization of the Funds. One or more of these affiliates currently serve as the general partners of the Funds. The Adviser provides investment supervisory services to pooled investment vehicles – structured as master and feeder funds (individually, the “Fund,” and collectively, the “Funds) - which are exempt from registration under the Investment Company Act of 1940, as amended, and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”) and separately managed accounts for institutional clients (referred to herein as the “Managed Accounts” and collectively with the Funds, the “Clients”). Furthermore, the Governing Documents of the Funds also provide for the establishment of certain special purpose vehicles (each a “SPV” and, collectively, “SPVs”) in order to facilitate the Adviser’s investments on behalf of such Clients. In this Brochure, because it is uncertain whether such SPVs will be classified as “clients” of the Adviser for Advisers Act purposes, when we refer to the Clients, we are referring to the Funds, the Managed Accounts, and, where appropriate, any such SPVs. The Adviser intends to focus on attractive litigation finance investments focused on commercial litigation and arbitration, patent litigation and pharmaceutical litigation and related product development, and other situations presenting legal and/or regulatory risk (“Portfolio Investments”). Generally, the Adviser’s advice with respect to its Clients will be limited to such investments. The Adviser’s advisory services consist of investigating, identifying, and evaluating investment opportunities, structuring, negotiating,

and making investments on behalf of the Clients, managing and monitoring the performance of such investments, and disposing of such investments. The Adviser serves as the investment adviser to its Clients in order to provide such services. The investment objectives, strategies, terms, conditions and restrictions applicable to (i) the Funds are described in their respective Governing Documents and (ii) the Managed Accounts are set forth in the investment management agreement between the institutional client and the Adviser (the “Advisory Agreement”). This brochure provides only summaries of the subjects of the Items below. Investors should refer to the relevant Governing Documents and/or Advisory Agreement for more detailed information regarding matters described in this brochure. An investment in a Fund does not, in and of itself, create an advisory relationship between an investor in the Fund and the Adviser. Investors generally are not permitted to impose restrictions or limitations on the management of a Fund. The Adviser and the Funds have entered into side letter agreements or similar arrangements with certain investors in an applicable Fund that have the effect of establishing rights and/or otherwise benefitting such investors in a manner that is more favorable in various material respects than the rights and benefits established in favor of the investors generally pursuant to the Governing Documents. The underlying investor of a Managed Account may impose investment guidelines, limitations and other restrictions or terms on the management of its Managed Account pursuant to the Advisory Agreement. The Managed Accounts may also have certain portfolio liquidity, concentration and exposure limits, in addition to being prohibited from trading specified instruments, without the prior written consent of the underlying investor of the Managed Accounts. The Adviser was formed in April 2018 and is owned by Adam Gill, David Spiegel, and Jamison “Jamie” Lynch (each a “Managing Director” and collectively the “Managing Directors”). As of December 31, 2023, the Adviser has approximately $428,464,241 in discretionary regulatory assets under management. The Adviser does not participate in a wrap fee program.