Advisory Business A. General Description of Advisory Firm Politan Capital Management, L.P. (“Politan”, the “Firm”, “we”, or “us”) is a Delaware limited partnership that was formed in July 2021. Politan began operations as an investment adviser in September 2021 and serves as the discretionary investment manager to private fund clients and separately managed accounts. Politan is controlled by its principal owner, Quentin Koffey, Managing Partner & Chief Investment Officer (the “Chief Investment Officer”). The Chief Investment Officer is a limited partner of Politan and has ultimate responsibility for its management and investment decisions. Politan Capital Management GP, LLC, a Delaware limited liability company, serves as the general partner of Politan and is owned and controlled by the Chief Investment Officer (and/or entities owned or controlled by the Chief Investment Officer). Politan’s registration on Form ADV also covers Politan Capital Partners GP LLC (“Politan GP”), a Delaware limited liability company. Politan GP is an affiliate of Politan and serves as the general partner of certain clients that are organized as U.S. and Cayman Islands exempt limited partnerships. Politan and Politan GP share facilities and personnel. The Chief Investment Officer (and/or entities owned and controlled by the Chief Investment Officer) is the principal owner of Politan GP. B. Description of Advisory Services Politan serves as the investment adviser, with discretionary trading authority, to private fund clients, the securities of which are offered to investors on a private placement basis (each, a “Fund” and collectively, the “Funds”). The Funds include:
• Politan Capital Partners LP, a Delaware limited partnership (the “Domestic Fund”);
• Politan Capital Offshore Partners LP, a Cayman Islands exempted limited partnership (the “Offshore Fund”), and
• Politan Capital Partners Master Fund LP, a Cayman Islands exempted limited partnership (the “Master Fund”), which serves

as the master fund into which the Domestic Fund and Offshore Fund invest substantially all of their assets through a “master feeder” structure. Politan GP serves as the general partner of the Funds. The Funds have an "evergreen" structure with the ability to create separate series (each a “Series”) with separate portfolios. Each Series will effectively be accounted for as a separate investment vehicle with its own investments, commitments and/or contributions, distributions, investments, investment restrictions, investment periods, fees, withdrawal rights and expenses. Through its investment authority with respect to its management of client assets, Politan seeks to acquire undervalued and/or underperforming companies pursuant to an "activist investment" strategy where Politan believes that operational improvements and/or strategic initiatives can create value. Notwithstanding the foregoing, subject to any limitations in the governing documents of the Funds, Politan is not limited with respect to the types of investment strategies it may employ or the markets or instruments in which it may invest. Politan also provides investment advisory services to separately managed accounts (the “Managed Accounts”) that pursue a substantially similar strategy. As used herein, the term “client” generally refers to each Fund and to each Managed Account and to any other private fund or separately managed account Politan may advise in the future. Tailored Advisory Services for Clients Politan manages assets in accordance with the stated investment objectives of each client, as described in the applicable investment management agreement or in an offering memorandum (collectively, the “Offering Documents”). Investment advice is provided directly to clients and not individually to the investors in clients (the “Investors”). C. Wrap Fee Programs Politan does not participate in wrap fee programs. D. Assets Under Management As of December 31, 2023, Politan had regulatory assets under management of $2,027,926,000, all managed on a discretionary basis.