FIRM DESCRIPTION First Sabrepoint Capital Management, LP (“Sabrepoint”), a Texas limited partnership and private investment advisory firm doing business as Sabrepoint Capital Management, was formed in February 2016. Sabrepoint currently provides investment management and other services solely with respect to an affiliated private pooled investment vehicle, Sabrepoint Capital Partners, LP, a Delaware limited partnership (the “Fund”), interests in which may be offered to eligible investors on a private placement basis. We have full discretionary authority with respect to the investment decisions of the Funs. Our investment advisory services are provided in accordance with the investment objectives and guidelines set forth in the Fund’s offering and governing documents. The information set forth in this brochure is qualified in its entirety by the Fund’s offering and governing documents. Sabrepoint is registered as an investment adviser with the SEC under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). Sabrepoint Capital Participation, LP, a Texas limited partnership and one of our affiliates (the “General Partner”) is the general partner of the Fund. See “Item 10: Other Financial Industry Activities and Affiliations.” Except as the context otherwise requires, any references to “we,” “us” or “our” in this brochure includes Sabrepoint and the General Partner. PRINCIPAL OWNERS Both Sabrepoint and the General Partner are owned and controlled by George H. Baxter (the “Principal”). TYPES OF ADVISORY SERVICES Sabrepoint is investment manager to the Fund, and the Fund is currently its only advisory client. Sabrepoint is responsible for investing and re-investing the capital of the Fund in securities, financial instruments and/or other assets in accordance with the investment objectives, policies and guidelines set forth in the Fund’s

offering and governing documents. See “Item 8: Methods of Analysis, Investment Strategies and Risk of Loss.” INVESTMENT RESTRICTIONS We generally provide investment advice to the Fund in accordance with the investment objectives, policies and guidelines set forth in the Fund’s offering and governing documents, and not in accordance with the individual needs or objectives of any particular investor in the Fund. Investors generally are not permitted to impose restrictions on investments in certain securities or types of securities or limitations on the management of the Fund. Notwithstanding the foregoing, we have entered into, and may in the future enter into, side letter agreements or similar arrangements with certain investors in the Fund that have the effect of establishing rights under, or altering, modifying, waiving or supplementing the terms of, the governing documents of the Fund in respect of such investors. Among other things, these agreements may entitle an investor in the Fund to lower fees, information or transparency rights, most favored nations status, investment capacity rights, notification rights, rights or terms necessary or advisable in light of particular legal, regulatory or policy considerations of or related to an investor and/or other preferential rights and terms. Interests in the Fund are privately offered only to eligible investors pursuant to exemptions under the Securities Act of 1933, as amended (the “Securities Act”), and the regulations promulgated thereunder. The Fund is not registered with the SEC as investment companies based on specific exclusions from the definition of investment company under the Investment Company Act of 1940, as amended (the “Company Act”). ASSETS UNDER MANAGEMENT As of December 31, 2023, we had approximately $ 398 million in regulatory assets under management. All of these assets were managed on a discretionary basis.