JTS Fund Advisors was formed in November 2015 as the wholly-owned subsidiary of JTS Capital Group LLC (“JTS,” or the “Sponsor”). JTS was established in 2013, and is a privately-owned financial services company headquartered in Waco, Texas. This brochure describes the business practices of JTS Fund Advisors. JTS Capital Group, LLC is the sole owner of JTS Fund Advisors. JTS Capital Group, LLC is owned by Greenleaf Capital Corporation and Steve Webster. The principal owner of Greenleaf Capital Corp. is James T. Sartain. JTS Fund Advisors serves as the management company to private pooled investment vehicles operated under the JTS organizational structure. JTS Fund Advisors will also assume the role of exclusive management company to future, successor JTS private funds as they become organized, formed and successfully capitalized (such successor private funds, together with the existing JTS Funds, are referred to herein as “JTS Private Funds,” which from time to time are referred to herein as “Funds” or, singularly, as a “Fund”). In exchange for its services, JTS Fund Advisors receives, and will continue to receive, payment of management fees from the JTS Private Funds (which fees are further discussed and described below under Item 5). The JTS Private Funds invest in, and will continue to invest in, performing, sub-performing, non- performing and other distressed loans or related real estate, loan assets and loan portfolios purchased from financial institutions and other sellers of such obligations. The JTS Private Funds acquire, and will continue to acquire, loan assets from sellers through various special purpose entity acquisition vehicles (“SPEs”), and, from time to time, the SPEs or Master Funds of any of the JTS Private Funds have leveraged, and may continue leveraging, such acquisitions with acquisitive financing at the SPE, Master Fund, or Feeder Fund Subscriptions level, thereby reducing the amount of contributions from the JTS Private Funds needed to consummate a given transaction or due to bridge funding timing differences. In each and every case, however, all asset acquisition transactions are and will be subject to the investment guidelines in the limited partnership and limited liability company agreements, as the case may be, of the JTS Private Funds. Purchased loans have and will run the gambit from obligations evidenced by notes, debentures, bonds and/or other instruments of indebtedness, for borrowed money or obligations that are negotiable or non- negotiable, recourse or non-recourse, and secured or collateralized or unsecured, as the case may be, including, without limitation, “Commercial & Industrial (C&I) Loans,” “Commercial Real Estate (CRE) Loans,” “Construction Loans,” “Mortgage Loans” (both residential and commercial) and “Consumer Loans” (as such terms are generally understood in the commercial lending industry). Given the business of JTS, the JTS Private Funds may also acquire interests in leases, mortgage-backed securities (“MBS”), loan participations, and “Real Estate Owned (REO) Properties” (as such terms are generally understood in the commercial lending industry). In most cases, the JTS Private Funds will bid on and acquire loan portfolios and their related assets from sellers in a competitive bidding process against other bidding competitors. On average, management estimates that it will take

roughly three (3) to four (4) years after the conclusion of its investment period for a given JTS Private Fund to liquidate its entire loan asset portfolio, wind down its affairs, and make final distributions to its partners. The JTS general partners and/or managers may from time to time seek approval or consent from some or all investors of or to certain matters or transactions raising or subject to actual or potential conflicts of interest, or of or to certain additional matters in the discretion of JTS Fund Advisors. In respect of the JTS III Funds, JTS Fund Advisors has appointed a limited partner advisory committee which shall consist of at least three (3) member representatives of limited partners of such JTS Private Funds who are unaffiliated with JTS. No fees will be paid to such advisory committee members, but they will be entitled to reimbursement of reasonably incurred out-of-pocket expenses for attending meetings. Any such committee may be called upon from time to time to address actual or potential conflicts of interest and/or weigh in on valuation or other questions presented to it; however, the general partner of the JTS III Funds (which will be controlled by JTS) will generally have the actual authority to make all final such decisions and/or determinations. All discussions pertaining to the JTS Private Funds in this brochure, including, but not limited to their respective investments, governance, investment strategies, partners, services provided to thereto, and fees and other costs associated with an investment therein, are qualified in their entirety by reference to each such entity’s respective limited partnership or limited liability company agreement. Investment advice is provided directly by JTS Fund Advisors to the JTS Private Funds, subject only to the discretion and control of the applicable JTS Private Fund’s general partner or managing entity and is not rendered personally or individually to any limited partner or investor member of any JTS Private Fund. As an adviser exclusively to the JTS Private Funds, JTS Fund Advisors does not and will not tailor advisory services to the needs of individual investors in the JTS Private Funds. In addition, investors may not impose restrictions on investments by any JTS Private Fund. As a general rule, private equity fund investors can often have widely differing interests on a variety of tax, regulatory, business, investment and other issues. This, in turn, can give rise to the risk that some fund investors may not act in a manner consistent with the best interests of investors as a group or in the best interests of a given fund or funds. Such differences and conflicts can often make it impractical to manage a given fund in a manner viewed as optimal by all fund investors, and JTS Fund Advisors will be under no obligation to so manage any JTS Private Fund. Prospective investors should therefore assume that JTS Fund Advisors will consider the objectives of a given JTS Private Fund, or group of parallel JTS Private Funds (treated as a single investment fund) and not the investment or other objectives of any investor individually. JTS Fund Advisors does not participate in a wrap fee program. As of December 31, 2023, JTS Fund Advisors manages approximately $151.5 million on a discretionary basis. Currently, JTS Fund Advisors does not manage any client assets on a non-discretionary basis.