For purposes of this Brochure, “Trinity” means Trinity Fund Advisors LLC, a Delaware limited liability company, together with certain of its affiliates that provide investment advisory services to the Fund (as defined below). Background Trinity was organized in June 2020 and is headquartered in Honolulu, Hawaii, with an additional office in Beverly Hills, California. Trinity is a wholly-owned subsidiary of Trinity Real Estate Investments LLC (“Trinity Investments”). Founded in 1996, Trinity Investments is a fully integrated, private real estate investment, asset management, and development management firm focused on value-add hotel and resort assets across North America. The investment activities of Trinity and Trinity Investments are led by Sean A. Hehir, Lee S. Neibart, Ryan P. Donn, and Gregory S. Dickhens, who also comprise Trinity’s Investment Committee. In 2023, Mr. Donn relocated to the United Kingdom to manage the expansion of Trinity into Europe by creating Trinity Investments Europe Limited, an affiliate of Trinity, and a private limited company organized under the laws of the United Kingdom. As a result, Mr. Donn’s activities with respect to Trinity are carried out from the United Kingdom. Trinity maintains in-house asset management and development management teams. The asset management team conducts monthly operating reviews with the hotels’ executive teams and makes regular property visits. Additionally, the asset management team manages insurance placement decisions, property tax appeals, return on investment analyses for proposed development projects, joint venture-level cash flow forecasting and lender relations, and, on a case-by-case basis, will retain external consultants to advise with respect to revenue management, positioning, digital media strategies, labor relations, and other operations- related activities. The development team’s involvement begins prior to an acquisition by developing an initial capital plan that is incorporated into the property’s wider business plan and underwriting assumptions. Post-acquisition, the development team oversees strategic master planning and execution of the capital plan through all phases including design management, costing, brand property improvement plan and architectural and construction management, construction negotiations and oversight and operational capital asset oversight. The development team focuses on value creation through appropriate capital allocation, focusing on renovations and capital improvements that it believes will ultimately drive revenues and asset values, and timing capital plan execution in a way that is designed to minimize operational disruptions and revenue displacement. The development team meets with the Investment Committee regularly to update the team on each project’s progress and to make decisions to either expand or contract a project’s scope. Each recommended improvement could be a separate project, which in aggregate make up the project plan for an investment asset. Trinity will generally seek to make investments indirectly through joint ventures (each, a “Joint Venture”) with third-party joint venture partners (each, a “JV Partner”), as more fully described in Item 10. Trinity serves as the investment manager to Trinity GP Fund I L.P., a Delaware limited partnership (the “Partnership”) organized by Trinity GP Fund I GP, LLC, its general partner and a wholly-owned subsidiary of Trinity (“Trinity GP”), to make investments in hotels and resorts in the United States. Trinity also serves as the investment manager to, and Trinity GP is the general partner of, (i) Trinity GP Cayman Feeder Fund I L.P., and Trinity GP Cayman Feeder Fund I-B L.P., each a Cayman Islands exempted limited partnership that is a “feeder” vehicle organized to invest exclusively in the

Partnership (collectively, the “Feeder Funds”), (ii) alternative investment vehicles that may, from time to time, be organized to address, for example, specific tax, legal, business, accounting or regulatory-related matters that may arise in connection with a transaction or transactions (each such vehicle, an “Alternative Investment Vehicle”), and (iii) various co-investment vehicles organized to allow certain persons to invest alongside the Partnership in a particular investment opportunity (each such vehicle, a “Co-Investment Vehicle”). Each of the Partnership, the Feeder Funds, any Alternative Investment Vehicle, and any Co-Investment Vehicle (collectively, the “Fund”) is a private fund, not subject to the registration requirements under the Investment Company Act of 1940, as amended (the “1940 Act”), and whose securities are not subject to the registration requirements under the Securities Act of 1933, as amended (the “Securities Act”). Trinity may in the future advise other private investment vehicles in addition to the Fund. Trinity has organized, and from time to time, in its sole discretion, expects to in the future organize additional, dedicated Co-Investment Vehicles for certain investors in order to facilitate investments by such investors as co-investors alongside the Fund. Any such Co-Investment Vehicles will be organized at Trinity’s sole discretion and Trinity generally has no obligation to offer any co-investment opportunity to any other investor. Trinity will determine which investors, if any, are permitted to invest in the Co- Investment Vehicles based on various factors, including, without limitation, the perceived ability of the investor to fund and complete the investment on a timely basis, the perceived ability to participate in add- on or follow-on investments, the investor’s historically expressed interest in co-investment opportunities, the alignment of management interests, as an incentive for the investor to invest in other products sponsored by Trinity, any agreement by the co-investor to pay management and/or other fees and/or carried interest or promote on its co-investment, and for strategic or other reasons as more fully described in the applicable governing documents of the Fund. Subject only to any applicable provisions in the governing documents of the Fund or side letters, Trinity may, but is under no obligation to, offer co-investment opportunities to existing investors in the Fund, on a pro rata basis or otherwise. In providing services to the Fund, Trinity directs and manages the investment of the Fund’s assets and provides periodic reports to each investor in the Fund. Trinity makes investment decisions based on pre- acquisition due diligence that helps Trinity to identify and assess investment risks and opportunities. Trinity’s management activities are governed by the terms of the governing documents of the Fund. Investment advice is provided directly to the Fund and not individually to the investors in the Fund. Investment restrictions for the Fund are generally set forth in the respective governing documents of the Fund. Investors may not impose additional restrictions on the management of the Fund. In connection with the negotiation of fund and subscription terms and, as contemplated by the relevant partnership agreements, the Fund has entered, and from time to time, in its sole discretion, expects to enter, into “side letters” or similar agreements pursuant to which the Fund has granted, and expects to grant, specific rights, benefits, or privileges to certain investors. See Item 11 below for a further discussion of side letters. Trinity does not intend on participating in a wrap fee program at this time. As of December 31, 2023, Trinity’s regulatory assets under management were approximately $626.7 million.