This Brochure contains a summary of information relevant to the subject headings as stated herein, and no disclosure or other statement contained herein serves as a substitute or shall supersede any of the terms and conditions as outlined in each Fund’s offering materials and governing documents. To the extent any of the statements herein conflict with a Fund’s offering materials and governing documents, such materials and documents shall govern, and investors in such Fund will be bound by the terms, conditions, risks, and other relevant information contained therein. ADVISORY FIRM DESCRIPTION, PRINCIPAL OWNER AND OVERVIEW Xebec Asset Management, LLC (“Xebec Asset Management”, “XAM”, "we", “us” or “our”) provides investment management and advisory services to affiliated private pooled investment vehicles, with respect to investments in real estate and real estate related assets and interests. Xebec Asset Management commenced operations in June 2017, and registered as an investment Adviser with the SEC under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) in January 2020. XAM evolved from Xebec Realty, which through its predecessor entities was co-founded by Mr. Randall R. Kendrick, its Chief Executive Officer, in 1996. Xebec Holdings, LLC (“XH”), of which XAM and its relying advisers1 are wholly owned subsidiaries (each a “Xebec Adviser”, and collectively the “Xebec Advisers”), is principally owned and controlled by Mr. Kendrick, along with XAM’s relying adviser, SLR Manager, LLC (“SLR Adviser”, and collectively with the Xebec Advisers, the “Advisers” or each in such capacity an “Adviser”). All of the Xebec Advisers’ funds are sponsored by Xebec Holdings (“Xebec Sponsor”), and the SLR Adviser fund is sponsored by Sand Lakes Ranch SAV, LLC (“SLR”, or the “SLR Sponsor”, and collectively with the Xebec Sponsor the “Sponsors”, and each in such capacity a “Sponsor”), and the Advisers do not manage any other funds. We provide investment advisory services to various private limited partnerships or limited liability companies (each a “Fund” or a “Client” and, collectively, the “Funds” or “Clients”)2 focused on real estate investments.3 Interests in the Funds are privately offered only to eligible investors pursuant to exemptions under the Securities Act of 1933, as amended, and the regulations promulgated thereunder. The Funds are 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 Advisers generally use controlled, affiliated 1 The Xebec relying advisers are currently Xebec Logistics Trust GP, LLC, Xebec RAE, LLC, and Xebec UPMM, LLC. 2 References in this Brochure to a “Fund” or the “Funds” are not to any specific Fund, but include any of the Funds advised by the Advisers, except as expressly stated or the context otherwise requires. Certain references to a “Fund” may include a joint venture through which the Fund makes certain investments, as applicable. 3 “Fund” or “Client” means any fund for which an Adviser provides investment advice and/or makes investments or investment recommendations on a discretionary or nondiscretionary basis. The investors and other persons who invest in the Funds are generally referred to herein as “investors.” Unless otherwise expressly stated herein, the terms “Fund” and “Client” do not refer to “investors.” entities to serve as the general partner or managing member of their Funds and their related entities. TYPES OF ADVISORY SERVICES Our investment advisory services to the Funds include or have included sourcing, evaluating, negotiating, overseeing, managing and disposing of investments in real estate and real estate-related assets and interests. Our investment advisory services are tailored in accordance with each Fund’s specific investment strategy, objectives, guidelines, limitations and restrictions as set forth in the applicable Fund’s governing documents, offering documents, private placement memorandum and/or investment management agreement (collectively, the “Governing Documents”). The Funds include private open- and closed-ended funds, typically investing directly, or indirectly through joint ventures with joint venture partners (which may be institutional third-party joint venture partners and/or other Funds) in portfolios of real estate assets and pooled venture vehicles,4 as well as single-asset Funds. The types of funds we manage, include, but are not limited to: Multi-Asset Funds. The portfolio of a multi-asset Fund typically is comprised of (i) pools of stabilized

“core” assets (cash-flowing industrial real estate assets with credit quality tenants on long-term leases) and “core plus” assets (similar assets with an opportunity to increase net operating income) (“Stabilized Assets”), (ii) ground up development, redevelopment or renovation projects (“Development Assets”), or (iii) a combination of both Stabilized Assets and Development Assets, in all cases either directly or indirectly through one or more joint ventures.5 Single-Asset Funds. A single-asset Fund is typically close-ended and invested in a single pre-identified Development Asset, generally either directly or indirectly through a joint venture. Sponsor Co-investment Funds. A sponsor co-investment Fund is typically close-ended and the portfolio is comprised of investments in Development Assets through one or more single- asset development entities, indirectly through a joint venture pari passu with the contributed capital invested by the Sponsor, which in turn is invested by the Sponsor in a joint venture with an institutional joint venture partner or another Fund.6 In addition, Sponsors may offer investments in which investors co-invest (“Co-investors”) with a Fund through another affiliated entity (“Co-invest Vehicle”) or otherwise. 4 The portfolios of pooled venture vehicles typically are comprised of (i) investments in Development Assets through two or more single-asset development entities, either directly or indirectly through one or more joint ventures or (ii) pools of Stabilized Assets, either directly or indirectly through one or more joint ventures. 5 A multi-asset fund is considered a “blind-pool” or “semi-blind” if it has not identified all of its existing assets at the time investors’ capital is committed to the Fund, and will typically provide the Adviser with complete discretion over the composition of the properties in the Fund’s portfolio within the overall stated investment strategy of the Fund, which in the case of an open-ended Fund could result in a complete turn-over in the composition of the portfolio during the life of the Fund. 6 Sponsor Co-investment Funds typically provide, together with the Sponsor, no more than 10% of the capital required for the joint venture, with the institutional joint venture partner providing 90% or more of the required capital. As of the date of this Brochure, our Funds include: 15191 Sylmar QOF, LLC, 3344 Medford XC Opportunity Fund, LLC, Logistix Hub Coinvestment Holdings, LLC, London Groveport XO Co- Investment Fund, LLC, Pecan XC Opportunity Fund, LLC, Sandow Lakes Ranch Fund I, LLC, Xebec Logistics Trust, LP, and Xebec Opportunity Fund I, LLC. TAILORING TO INDIVIDUAL CLIENT NEEDS We tailor our advisory services to the individual needs of a particular Fund, as necessary. Each Fund has a set of specific guidelines that may limit the strategy, size, concentration, geography, type of security and/or terms of the Fund’s underlying investments as described in each Fund’s Governing Documents. Investment advice is provided directly to each Fund itself and not to the individual investors in the Funds. Although we do not provide tailored investment advice to the individual investors in the Funds, the Fund’s General Partner or Managing Manager and/or the Funds may enter into side letters or other agreements with certain investors in the Funds that have the effect of establishing rights under, or altering, modifying, waiving or supplementing the terms of, the Governing Documents of such Funds in respect of such applicable investors. Among other things, these side letter agreements entitle or may entitle an investor in a Fund to lower fees or preferential economic terms, expanded or additional information or transparency rights, most favored nations status, excuse rights with respect to certain investments, notification rights, rights or terms necessary or advisable in light of particular legal, regulatory or public policy considerations of or related to an investor and/or other preferential rights and terms. To the extent required by applicable law or otherwise agreed by a Fund and the Advisers the material terms of certain side letters may be disclosed to certain investors on a redacted basis without disclosing such terms to all investors. Investors generally will not otherwise receive disclosure of side letter agreements. REGULATORY ASSETS UNDER MANAGEMENT As of December 31, 2023, the Advisers managed client assets of approximately $426,874,783 on a discretionary basis. The Advisers do not currently manage any client assets on a non- discretionary basis.