Breakout Capital Partners, L.P. (“Breakout Capital”) is an Emerging Markets investment management firm. Breakout Capital was formed in 2022 by Ruchir Sharma who serves as the Founder and Chief Investment Officer of the firm. Breakout Capital is organized as a Delaware limited partnership. Breakout Capital GP, LLC serves as the general partner to Breakout Capital Partners, L.P. Mr. Sharma is the managing member of Breakout Capital GP, LLC. Breakout Capital is under common control with EM Revival Fund GP LLC, the general partner of the EM Revival Master Fund LP, the EM Revival Offshore Fund LP, and the EM Revival Onshore Fund LP each a Private Fund (defined below). The EM Revival Offshore Fund LP and the EM Revival Onshore Fund LP are feeder funds investing directly in the EM Revival Master Fund LP. Listed below are the firm’s principal partners (i.e., those individuals and/or entities controlling 25% or more of Breakout Capital).
• Ruchir Sharma, Founder Portfolio Management Services Breakout Capital’s business primarily consists of managing investment portfolios of private investment funds. In limited circumstances, and in our sole discretion, we may extend our portfolio management services to certain separately managed accounts. The firm pursues a long- biased equity investment strategy primarily focused on making equity investments in issuers exposed to emerging markets. The investment strategy is primarily focused on investments in common or preferred equity securities, securities convertible into equities, initial public offerings (“IPOs”), global depositary receipts, American depositary receipts, exchange-traded funds (“ETFs”), equity and index derivatives, including, futures, swaps, options and foreign exchange derivatives. Breakout Capital implements its investment strategy applying a combination of a “top-down” view of broader investment themes and “bottom-up” analysis of individual investments. In selecting the emerging markets upon which to concentrate, the Investment Manager uses the Founder’s matrix of ten rules for identifying successful nations (the “10 Rules”). These 10 Rules include consideration of the following factors: politics, role of the state, public and private investment, inflation, currency valuation, debt levels, inequality, geography, demographics and sentiment. The 10 Rules framework is a proprietary and unique framework that is designed to identify economies with high growth prospects and helps flag risky ones. The 10 Rules are expected to evolve over time. Private Funds Breakout Capital serves as the investment manager and provides discretionary advisory services to private investment funds (each referred to as a “Private Fund”) organized as Delaware limited partnerships and Cayman Islands exempted limited partnerships. Each Private Fund operates under an exclusion from registration as an investment company under Section 3(c)(7) of the Investment Company Act of 1940, as amended (the “Investment Company Act”). As of the date of this brochure, Breakout Capital serves as the investment manager of the EM Revival

Master Fund LP, the EM Revival Offshore Fund LP, and the EM Revival Onshore Fund LP. Although investors in Private Funds do not generally impose restrictions on Breakout Capital’s investment activities in the Private Funds it manages, Breakout Capital has granted, and may in the future grant, special or more favorable rights with respect to certain terms of a Private Fund, with respect to any Limited Partner in the EM Revival Onshore Fund or the EM Revival Offshore Fund, which may include, without limitation, principals, members or employees (and their respective family members) of Breakout Capital and its affiliates and other select third parties. To effect such waivers or modifications or to grant any special or more favorable rights, Breakout Capital may enter into agreements (“Side Letters”) or issue interests in different series to certain investors in the future, that provide for, among other things, (i) greater transparency into a Private Fund’s portfolio, (ii) greater information than may be provided to other investors, (iii) different fee terms and (iv) more favorable transfer or liquidity rights. Breakout Capital is permitted to enter into separate Side Letters or other similar agreements with particular investors in the Private Funds in its sole and absolute discretion. Separately Managed Accounts In limited circumstances, and in our sole discretion, we may extend our discretionary portfolio management services to certain separately managed accounts (SMA). This will be determined on a case-by-case basis. SMAs will be managed in the same way and at the same time as the EM Revival Fund. This means that both the account and the fund will receive the same treatment and follow the same investment decisions. To participate in our individual portfolio management services, you must grant us discretionary authority to manage your account. Granting discretionary authorization allows us to select the particular securities and quantities for buying or selling within your account, all without requiring your pre-transaction approval. This discretionary authority is typically conferred through the investment advisory agreement and relevant trading authorization forms. However, you can set reasonable limitations and restrictions on this discretion by specifying your constraints (i.e. trading restrictions on certain securities or brokers to be used due to affiliation) in writing. Brochure Delivery Breakout Capital is obligated to deliver to each prospective client its current Part 2A Form ADV and an ADV supplement for each investment adviser representative who will provide advisory services to the client. If a client does not receive a copy of the Part 2A Form ADV and ADV supplement at least forty-eight (48) hours prior to execution of an investment adviser agreement with Breakout Capital, the client shall have the right to terminate the investment adviser agreement without penalty within five (5) business days of the execution of the agreement. As of December 31, 2023, we manage $616,080,486 in client assets on a discretionary basis and $0 in client assets on a non-discretionary basis.