Introductory Note: Because Stanhope is organized outside the United States and does not provide investment advisory services from any U.S. location, the Investment Advisers Act of 1940, as amended (the “Advisers Act”) and the regulations promulgated thereunder only apply to Stanhope’s activities with current prospective U.S. clients. Stanhope is not required to comply with the Advisers Act with respect to any of its activities that occur outside the U.S. and which do not concern U.S. clients or prospective clients. Principal Owners Stanhope Capital, LLP, a limited liability partnership incorporated in England and Wales (“Stanhope,” “Adviser,” the “Firm,” or “We”), was founded in 2004 and offers investment management services to sophisticated high net worth investors, charities and endowments with respect to wealth management, consulting, alternative investments and merchant banking. Our services are offered to our clients (“Clients”) on an advisory and discretionary basis directly through separate accounts and privately-offered pooled investment vehicles (“Fund” or “Funds”). Daniel Pinto, the Firm’s Founder, Chief Executive & Chairman of the Board owns more than 25% of the Firm. Types of Advisory Services Stanhope provides discretionary and non-discretionary investment advisory services across a broad range of asset classes and investments to ultra-high net worth and high net worth individuals, their families, family offices and entities such as trusts, estates, endowments and foundations, as well as pension, profit sharing and other retirement plans, charitable organizations, corporations and other businesses. We specialize in providing the following advisory services: Wealth Management 1. Discretionary/Advisory Asset Management Stanhope’s wealth management team provides discretionary and advisory services with an objective to protect and increase the wealth of Clients by seeking risk-adjusted returns. We work with our Clients either on a discretionary or advisory basis. Stanhope operates its wealth management advisory business with a clearly articulated investment philosophy focusing on (i) central asset allocation: long-term strategic and short-term tactical moves; (ii) open architecture: using a combination of funds and direct investments; and (iii) an emphasis on risk management. 2. Family Office Solutions When Clients have multiple investment relationships and want to have a full overview of their assets, benchmark their various managers and also keep track of risks, Stanhope provides the following services to family offices: ‐ Overall risk management ‐ Overall currency management ‐ Consolidation and reporting of externally managed portfolios ‐ Selection and monitoring of custodians, banks and brokers ‐ Fee negotiation with third party providers ‐ Negotiation and collection of rebates on behalf of clients ‐ Liaison and coordination with tax and estate planning advisers ‐ Management of day-to-day administrative tasks on behalf of

clients ‐ Succession planning ‐ Sourcing and arranging credit facilities Consulting: Stanhope provides consulting services to charities, non-profit organizations and wealthy families seeking advice on asset allocation, manager selection or the supervision of existing portfolios. Alternative Investments: Stanhope’s Private Investments team enables its Clients to have access to private equity, real estate and private credit investments through a range of access vehicles and Funds (some of which are directly managed by Stanhope Capital). Through the access vehicles, Clients are able to invest with some of the world’s best known funds which often have high minimum thresholds. The access vehicles are diversified by strategy and region. Stanhope also structures and manages Funds covering niche strategies in areas such as development capital, buy-outs and direct real estate, e.g. the Stanhope Entrepreneurs Fund (SEF) and the German Real Estate Fund (GREF). Merchant Banking: Stanhope’s Merchant Banking team provides corporate finance advice on mergers, acquisitions, disposals, restructurings and capital raising – debt and equity. Merchant Banking Clients are generally prominent entrepreneurs, family-owned businesses, private and public corporations seeking an independent approach to implement their strategic plans. Stanhope generally seeks to achieve the investment objectives of a Fund by managing and executing investment strategies on its own. Investment Restrictions The investment objectives and the investment strategies of each Fund managed by Stanhope are described in detail in the Fund’s offering and subscription documents or investment management agreement. Separate account management is guided by the stated objectives of the Client (i.e., capital preservation, income, growth, etc.). Client investment objectives are identified by assessing the Client’s risk tolerance based upon various criteria like need for cash flow, investment goals and the like. These objectives are then typically documented via the investment guidelines contained within an investment management agreement. When a Client grants the Adviser investment discretion, Stanhope is authorized to invest, sell, and reinvest proceeds in the Client’s account without obtaining the Client’s prior confirmation of any proposed action. Stanhope will manage the account in accordance with the investment guidelines and/or restrictions that have been provided by the Client. Stanhope provides investment advice to Funds. Information about a Fund’s investment objective and strategies, fees and expenses, and other material information may be found in the Fund’s private placement memorandum. Wrap Fee Programs Stanhope does not participate in wrap programs. Assets Under Management As of March 23, 2023, Stanhope’s regulatory assets under management were $11,115,021,910$with $3,345,467,703managed on a discretionary basis and $7,769,554,207$managed on a non-discretionary basis.