About the Firm: HFR Investments, LLC (“HFR”), a Delaware Limited Liability Company, is a minority‐owned and-operated company of HFR Asset Management, LLC (“HFRAM”)(CRD: 111705). On behalf of HFRAM, HFR offers non‐discretionary investment advisory services to U.S. and non‐U.S. investors in traditional and alternative investment strategies to the clients of its affiliate HFRAM, pursuant to an agreement between HFR and HFRAM (“Services Agreement”). About HFR: Joseph G. Nicholas founded Hedge Fund Research, Inc., a global provider of hedge fund indices, research, and data in 1992. In January of 2020, Michael Arenibar (following 15 years with HFRAM) founded and launched HFR, a minority‐owned investment adviser established with the vision of bringing diversity and ESG initiatives to hedge funds and investment products sub-advised by HFR. HFR is an affiliate of HFRAM. Ownership: HFRAM owns 49% of the company. HFRAM’s managing member is HFR Group, LLC, a company wholly owned by Joseph G. Nicholas. ESG‐MA, LLC, a Delaware limited liability company owns 51% of the company. ESG‐MA, LLC is owned by Michael Arenibar. Mr. Arenibar is President of HFR Asset Management, LLC. HFR’s Advisory Services: HFR provides non-discretionary advisory, co‐advisory, and other services such as FX, and cash management services to its affiliate, and the client account of its affiliate, HFRAM. HFRAM is the investment adviser to single manager and multiple manager trusts structured as managed accounts (the “HFR Managed Account Platforms”). The HFR Managed Account Platforms consists of separately managed accounts domiciled in Bermuda, Ireland, or another client directed jurisdiction. Additionally, HFRAM provides investment services to client dedicated portfolios, multimanager portfolios, and index tracker funds. HFR, pursuant to a Services Agreement, between HFR and HFRAM, performs the following services and other services as agreed between HFR and HFRAM from time to time (collectively, “Services”): (i) obtain and provide research, trading, trade and market data, other market and industry intelligence, trade or transactional and related analytics and due diligence, trade processing, trade reconciliation and other investment-related and investment support services, including FX trade support; (ii) prepare and negotiate trading and other counterparty, prime broker (or other broker) agreements and investment-related documentation of any kind; (iii) provide investor-related tax, valuation and reporting services, and monitor compliance with side letters, if any, with respect to any person or entity whose investment or trading activities are directed by HFRAM; (iv) provide administrative and clerical (i.e., non-broker-dealer) services in connection with HFRAM’s assistance in the offering of equity interests in any client of HFRAM; (v) provide accounts payable and general banking and cash management services for HFRAM’s client accounts; (vi) maintain banking accounts; (vii) keep the books, records and ledgers of the operating expenses and trading accounts; (viii) prepare or obtain notices, reports, financial statements and other written materials as reasonable requested by HFRAM; (vi) provide regulatory compliance services and filings; (x) engage and/or cooperate with auditors and tax preparation specialists; (xi) obtain, provide and maintain insurance coverages; (xii) provide investor relations services; and (xiii) provide all such other services as HFRAM may request as part of its investment and advisory services HFR’s Assets Under Management (Net AUM*) and total number of accounts (as of December 31, 2023 ): U.S. Dollar Amount Total Number of Accounts Discretionary: (a) $0.00 (d) 0 Non‐Discretionary: (b) $693,548,472.01 (e) 5 Total: (c) $693,548,472.01 (f) 5 * Net AUM represents the total investor capital managed on a net basis by HFR. HFRAM Managed Account and Fund Platform (HFRAM Platform): HFR may create single or multi‐manager products on the

HFRAM Platform which is sponsored by its affiliate HFRAM. The HFR Platform is intended to offer a range of diversified separately managed accounts (each, a “Trust” and collectively, the “HFR Platforms”), structured as Bermuda Unit Trusts, or Irish Unit Trusts, that would cover a broad range of strategies including equity hedge, event driven, macro/CTA, and relative value arbitrage. HFR will add or change these strategies over time. Additionally, HFR will add or remove Trusts based on demand. As of March 1, 2023, there are no HFRAM Platforms currently managed by HFR. All Trusts will be established to operate under an independent custodian, trustee, and administrator. The custodial structure ensures transparency and mitigates the risk of manager fraud and losses due to style drift. HFR offers investors the opportunity to enhance hedge fund portfolios by providing investors with style verification, monthly (and in some cases weekly) liquidity, daily performance estimates, and exposure information such as leverage, hedge ratios, and concentrations. The HFR Platform offers monthly liquidity with no lock‐up, generally upon fifteen (15) business days’ prior written notice to the administrator with up to sixty (60) days’ notice for certain less liquid strategies. Certain Trusts provide weekly liquidity, as set forth in the applicable Offering Memorandum or Prospectus. HFRX Tracker Funds: HFR will work with HFRAM on behalf of HFRAM’s clients to develop and manage non‐discretionary fund of fund portfolios including index tracking vehicles designed to track hedge fund indices sponsored by Hedge Fund Research, Inc. Fund of fund portfolios typically will invest directly in third party funds or Single Manager Trusts on the HFR Platform. Index tracker vehicles will invest in the same third‐party funds that are constituents of the index it is designed to track and follow a rule based quantitative methodology as indicted by the index its tracks. HFR will provide certain of HFRAM’s clients and investors different terms based on the nature of the account. Different terms will be negotiated without sending notice or receiving consent from existing investors. These differences will include higher, lower, or no management fee or incentive allocation, different liquidity terms, or transparency. Additional examples of the different terms can be found in the funds’ Confidential Offering Memorandum. Customized Advisory Services: HFR’s investment services to HFRAM on behalf of its clients include advisory and co‐advisory in traditional and alternative strategies, hedge fund consulting, portfolio construction, product development, transition management, tactical allocation, trading, and risk management. Particularly, these services will focus on Environmental, Social, Governance and Diversity & Inclusion strategies. HFR will offer customized strategies, custom investable index products, and other custom services to meet the objectives of HFRAM’s clients and any future HFR clients. These customized services are tailored to specific investment policies and guidelines of such clients. The services include sourcing and onboarding managers to adhere to the investment policies and restrictions of each specific client portfolio. Bespoke Managed Account Platform: HFR will work with institutions to develop and manage bespoke managed account platform programs. HFR provides dedicated or white label options of segregated or co‐mingled structured managed accounts across multiple trading strategies. The program is highly customizable to suit the needs of the institution. Typically, the institution will determine the investment program with the ability to select and direct key elements of the platform including investment vehicle type and jurisdiction, investment manager, fund managers, liquidity, due diligence requirements, investment guidelines, 360° reporting, financing, leverage, administrator, and counterparties.