A. General Description of Advisory Firm For purposes of this brochure, the “Adviser” means QHP Capital, L.P., a Delaware limited partnership, and/or (where the context permits) its affiliates that provide management or advisory services to and receive advisory fees and/or performance-based fees from the Clients (as defined below). Such affiliates are generally under common control with QHP, may possess personnel and/or equity owners that are substantially identical to QHP, and typically are formed for tax, regulatory, or other purposes in connection with the organization of a Client or to serve as the general partner (or equivalent function) of a Client. QHP was formed in 2020 and, including its predecessors, has been in business since 2010. The principal owner of QHP is Sir Dennis Gillings, CBE, Ph.D. (“Gillings”), indirectly through his wholly owned corporation, PharmaBio Development, Inc. (“PBD”). B. Description of Advisory Services The Adviser provides investment supervisory services to investment vehicles (collectively, the “Clients”) that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”), and the securities of which are not registered under the Securities Act of 1933, as amended (the “Securities Act”). Certain Clients of the Adviser will include vehicles specially formed in order to meet tax, regulatory, or other requirements, through which investors invest in substantially the same portfolio as certain other Clients, or through which certain other Clients make individual portfolio investments. The Clients primarily make long-term, control-oriented private equity and equity-related investments in operating companies, but also from time to time consider non-control investments in operating companies with significant

attendant governance rights. In accordance with, and subject to, the Clients’ respective investment objectives and restrictions, Client investments are made principally in technology-enabled service companies in the biopharmaceutical, life sciences, and healthcare sectors. C. Availability of Tailored Advisory Services The Adviser provides investment supervisory services to each Client in accordance with a separate management agreement with such Client (each, an “Advisory Agreement”), the limited partnership agreement (or analogous organizational document) of such Client, and/or side letters entered into with certain investors in a Client (collectively with the Advisory Agreement and organizational document, the “Governing Documents”). The Adviser’s advisory services generally consist of investigating, identifying, and evaluating investment opportunities; structuring, negotiating, and making investments in portfolio companies on behalf of the Clients; managing and monitoring the performance of such investments and such portfolio companies; and disposing of such investments. Portfolio company investments are generally effected through privately negotiated investment instruments, typically involve unregistered securities, and may, but need not, be leveraged. Investment advice is provided directly to the Clients and not individually to the investors in the Clients. Services are provided to each Client in accordance with its Governing Documents. Investment restrictions for a Client, if any, are generally established in its Governing Documents. D. Wrap Fee Programs QHP does not participate in wrap fee programs. E. Client Assets Under Management As of December 31, 2023, the Adviser manages $2,727,552,000 in regulatory assets on a discretionary basis.