The Advisers are Delaware limited liability companies based in Abilene, Texas. The Advisers were formed in December 2018 (SoftVest and HeartsBluff) and February 2020 (Carrizo). The Advisers are private investment firms with offices in Abilene, Texas, and Nashville, Tennessee. The Filing Adviser and the Relying Advisers together have filed a single form ADV in reliance on the umbrella registration provisions provided in SEC Release No. IA-4509 (August 25, 2016). References herein to the Filing Adviser or the Relying Advisers include affiliated management companies of the Filing Adviser and the Relying Advisers, and references herein to the “Adviser” means the applicable Adviser(s) for a particular Fund and its affiliated management companies, and “Advisers” include the Filing Adviser, the Relying Advisers and their affiliated management companies. The Advisers, either directly or through affiliates, provide investment advice on a discretionary basis to a number of private investment vehicles that pursue specialized investment strategies as described herein (each, a “Fund”, and together, the “Funds”).1 SoftVest generally focuses on making oil and gas investments primarily in Texas and is wholly owned by SoftVest Advisors Holdings, LLC, which is wholly owned by Eric Oliver, Kline Oliver, John Daniel, Cole Oliver, and Ethan Oliver. SoftVest serves as the investment manager together with SoftVest GP I, LLC (the “General Partner”) which provides discretionary advisory services to private investment vehicles, including SoftVest, LP, SoftSearch Investment, LP, and KNDC, LP. The General Partner and SoftVest are related entities under common control by the same principals. Specifically, SoftVest and the General Partner ultimately are controlled by Eric Oliver, Kline Oliver, John Daniel, Cole Oliver, and Ethan Oliver. HeartsBluff generally focuses on making investments in music royalties and is owned by Eric Oliver, Daniel McFarland, and Scott Parker. Carrizo generally focuses on making investments in music royalties and is owned by Eric Oliver, Daniel McFarland, Scott Parker, John Daniel, and Michael Derrick. 1 As SEC-registered investment advisers, the Advisers owe a fiduciary duty to all of its clients. In 2006, the decision by the Court of Appeals for the D.C. Circuit in Goldstein v. SEC, 451 F.3d 873 (D.C. Cir. June 23, 2006), with respect to private funds, clarified that the “client” of an investment adviser to a private fund is the fund itself and not an investor in the fund. For purposes of this Brochure, the terms “Fund” or “Funds” refer to the advisory clients of the Advisers. SoftVest Advisors, LLC Currently, SoftVest manages SoftVest, LP, SoftSearch Investment, LP, and KNDC, LP, in accordance with the terms and conditions of the offering and organizational documents of each Fund. SoftVest, LP and SoftSearch Investment, LP are Delaware limited partnerships and KNDC, LP is a Texas limited partnership. All three seek to provide their limited partner

investors with attractive risk-adjusted returns by directly or indirectly investing in oil and gas assets. SoftVest does not act as a general or limited partner to any of the Funds. Instead SoftVest advises the Funds at the direction of the general partner and in accordance with the investment management agreements. SoftVest GP I, LLC is the general partner to SoftVest, LP, SoftSearch Investment, LP, and KNDC, LP. As previously disclosed, SoftVest GP I, LLC is under common control with SoftVest because both entities ultimately are owned and/or controlled by the same persons. Accordingly, while SoftVest acts at the direction of the general partner and in accordance with the investment management agreements, both entities are ultimately controlled by the same persons. SoftVest also provides analysis to an independent insurance company upon request related to a fixed income portfolio. HeartsBluff Music Partners, LLC Currently, HeartsBluff manages Barton Springs Music, LLC, in accordance with the terms and conditions of the offering and organizational documents of the Fund. The Fund is a Tennessee limited liability company that seeks to provide its member investors with attractive risk-adjusted returns by directly or indirectly investing in music royalties. HeartsBluff acts as the managing member of the Fund. Carrizo Springs Music Partners, LLC Currently, Carrizo manages Carrizo Springs Music, LLC and Granite Shoals Music Fund, LLC in accordance with the terms and conditions of the offering and organizational documents of the Funds. Both Carrizo Springs Music, LLC and Granite Shoals Music Fund, LLC are Delaware limited liability companies that that seeks to provide their member investors with attractive risk-adjusted returns by directly or indirectly investing in music royalties. Carrizo acts as the managing member of the Funds. The Advisers tailor their advisory services to the individual needs of each Fund, and the individual needs are identified through a review of the overall investment guidelines and objectives, as well as specific investment goals of each Fund. The Advisers do not tailor their advisory services to the individual needs of the investors in any Fund, and the only restrictions on the investments that the Advisers may make on behalf of a Fund are set forth in the offering or organizational documents of each Fund. The Advisers do not participate in or sponsor any wrap fee programs. SoftVest Advisors, LLC SoftVest manages a total of approximately $631,235,370 of assets on a discretionary basis. SoftVest does not manage any assets on a non-discretionary basis. HeartsBluff Music Partners, LLC HeartsBluff manages a total of approximately $5,519,427 of assets on a discretionary basis. HeartsBluff does not manage any assets on a non-discretionary basis. Carrizo Springs Music, LLC Carrizo manages a total of approximately $49,322,785 of assets on a discretionary basis. Carrizo does not manage any assets on a non-discretionary basis.