Firm Description Sheridan Production Partners Manager III, LLC, a Delaware limited liability company (“Sheridan” or the “Firm”), was formed in 2020. Sheridan is headquartered in Houston, Texas. Sheridan SMG III, LLC (“SMG”) owns 70% of the outstanding equity in the Firm and Sheridan SMG Supplemental III, LLC (“SMG Supplemental”) owns the remaining 30%. Lisa A. Stewart is a principal owner of the Firm by virtue of her ownership interest in SMG and SMG Supplemental. Types of Advisory Services Sheridan was formed for the purpose of assuming management and control of the following three pre-existing oil and gas investment partnerships, which are referred to herein as the “Funds” and, collectively, as “Sheridan III”: - Sheridan Production Partners III-A, L.P. ("Fund III-A") - Sheridan Production Partners III-B, L.P. ("Fund III-B") - Sheridan Production Partners III-M, L.P. ("Fund III-M") Effective January 1, 2021, affiliates of the Firm became the sole general partner of each of the Funds, and Sheridan assumed the role of manager of each of the Funds under their respective limited partnership agreements (the "Governing Documents"). Sheridan exercises all management and investment decision-making authority with respect to the Funds, subject to limitations included in the Governing Documents or other agreements with the limited partner investors in the Funds. Sheridan has no clients other than the Funds and provides no advisory services other than those described herein. Sheridan is not currently contemplating raising any additional investment vehicles in the near term but may elect to do so in the future. Tailored Advisory Services The Funds were organized in 2014 for the sole purpose of making direct or indirect investments in hydrocarbon-producing properties in accordance with the specific investment guidelines set forth in their Governing Documents. All material

decisions relating to the operation and management of the Funds, including, but not limited to, those relating to investments, divestitures, hedging, leverage, capital calls and distributions are overseen by an investment committee (the "Investment Committee") composed of members of Sheridan management and independent industry professionals, each with significant experience in the oil and gas exploration and production or oilfield services sectors. The Funds are generally not permitted to deviate from the investment mandates set out in the Governing Documents without the consent of their respective limited partners or the limited partner advisory committee established for the Funds (the “Advisory Committee”). Material restrictions on Sheridan III investments include prohibitions on:
• Investing in properties located outside of the United States;
• Limitations on the aggregate amount of capital commitments that may be invested in any single field;
• Engaging in hedging or other derivative transactions purely for speculative purposes;
• Investing in any “blind pool” type investment fund as to which the general partner or manager thereof is entitled to a carried interest, performance fee or management fee; and
• For Fund III-B, Sheridan is required to use reasonable best efforts to operate such Funds in a manner that will not generate unrelated business taxable income. As of the date of this Brochure, the Investment Period for Sheridan III has expired and the Funds are generally restricted from making further acquisitions of oil and gas properties other than “Follow-On Investments” relating to assets already owned. Client Assets Under Management The value of the Firm’s regulatory assets under management was $676,000,000 as of December 31, 2023, inclusive of $200,000,000 of uncalled equity commitments. Sheridan manages all of these assets on a discretionary basis.