Who We Are MAZE Investments, LLC (referred to as “we,” “our,” “us,” or “MAZE”) is a privately owned limited liability company headquartered in Los Angeles, California. We have been registered as an investment adviser since June 2010. We became registered with the SEC in 2021. Our principal owner and officer is Adam Epstein and our Chief Compliance Officer is Tai Toribio. Services We Offer MAZE is the general partner of, and provides investment advisory services to, Blue Opportunity Fund, LP and MAZE Focus Fund, LP, each a private investment fund organized as a limited partnership (referred to individually as “Fund” and collectively as “Funds”). In addition, we provide investment advisory services to clients who are not invested in the Funds (referred to as “you” or “client”). The below descriptions are merely a summary and you should not assume that any descriptions of the specific activities in which the Funds or client accounts may engage are intended in any way to limit the types of investment activities which the Funds or client accounts may undertake. Further, this Form ADV Part 2A Brochure is not an offer to sell, or a solicitation of an offer to purchase, interests in the Funds. Any offer may be made only by means of a formal confidential private offering memorandum and related fund documents. Blue Opportunity Fund, LP and MAZE Focus Fund, LP Through Blue Opportunity Fund, LP (“Blue Opportunity”), we seek to generate superior risk-adjusted returns through an investment process dedicated to minimizing risk. We intend to achieve this by investing in a portfolio of primarily equity securities via a bottoms-up, fundamentally driven research process. The research process seeks to identify companies that are both out-of-favor and under-covered. Companies that are out-of- favor typically have security valuations that are mispriced due to cyclical, secular, or structural reasons. Under- covered companies generally have a market capitalization around $1 billion, lack attention from Wall Street analysts, and/or have little to no interest from large institutional investment managers. We believe a competitive advantage can be developed in this universe through fundamental analysis as well as company and industry due diligence. Investment opportunities are sourced through primary and third-party research, proprietary screening methods, and focus on sectors in which we have substantial prior experience. These include the industrials, healthcare, and consumer sectors. Companies that offer improving fundamental outlooks, overly pessimistic sentiment, and valuations that offer downside protection are generally considered for Blue Opportunity. Conversely, we seek to identify companies where deteriorating fundamental performances are not adequately reflected in valuations, and consider such securities as short opportunities. We approach these short opportunities as an additional means to generate positive returns, and further as a means to reduce portfolio volatility. Additionally, we may take positions in options from time to time, although we anticipate this to be infrequent. Through MAZE Focus Fund, LP (“Focus Fund”), we seek to outperform the broad equities markets through a portfolio of primarily long U.S. equity positions. We intend to achieve this by investing in a concentrated portfolio of undervalued securities

via a bottoms-up, fundamentally driven research process. The research process seeks to identify companies that are out-of-favor and under-covered. Companies that are out-of-favor typically have security valuations that are mispriced due to cyclical, secular, or structural reasons. Under- covered companies generally have a market capitalization around $1 billion, lack attention from Wall Street analysts, and/or have little to no interest from large institutional investment managers. We believe a competitive advantage can be developed in this universe through fundamental analysis as well as company and industry due diligence. Investment opportunities are sourced through primary and third-party research, proprietary screening methods, and focus on sectors in which we have substantial prior experience. These include the industrials, healthcare, and consumer sectors. Companies that offer improving fundamental outlooks, overly pessimistic sentiment, and valuations that offer downside protection are generally considered for the Focus Fund. Conversely, at times we may seek to identify companies where deteriorating fundamental performances are not adequately reflected in valuations and consider such securities as short opportunities. We approach these short opportunities as an additional means to generate positive returns, and further as a means to reduce portfolio volatility; however, we anticipate this use of short positions to be infrequent. Additionally, we may take positions in options from time to time, but we anticipate this to be infrequent as well. The information contained herein is a summary only and is qualified in its entirety by the offering materials for each Fund. While our investment process for each Fund can be generally described by these guidelines, we maintain broad discretion with respect to the trading and investment techniques employed. Each prospective investor receives a complete set of offering materials prior to investing in the Funds, which further detail each Fund’s investment objective and policies. Separately Managed Accounts In certain circumstances, we may provide investment advisory services to clients through separately managed accounts. For each separately managed account we construct a portfolio tailored to each client's specific needs as detailed in an investment management agreement. Clients may impose restrictions on investing in certain securities or types of securities. Sub-Advisory Services In certain circumstances, we may enter into a sub-advisory relationship with an unaffiliated investment adviser to assist such adviser with the management of a portion of a client’s portfolio or of a registered or unregistered fund. Investment Research Consulting Services In certain circumstances, we may enter into an agreement to provide certain investment research consulting services to a client, other investment adviser, or other third party. Any such consulting services and corresponding fees will be mutually agreed upon by and between MAZE and the contracting party on a case- by-case basis. Wrap Fee Programs We do not provide portfolio management services to any wrap fee programs. Assets Under Management As of December 31, 2023, we had $158,530,000 in regulatory assets under management on a discretionary basis. We do not manage assets on a non-discretionary basis.