Overview of Advisory Firm and Principal Ownership Cambrian Capital Management, L.L.C., doing business as Cambrian Capital Management (“Cambrian”), is a limited liability company organized in Delaware in 2022, to provide discretionary investment advisory services to one or more private funds. Cambrian was formed with a goal of achieving income and capital appreciation primarily by acquiring interests in privately offered investment funds sponsored or advised by new, emerging or start-up investment managers. Cambrian is owned by Pathstone Family Office, LLC (“Pathstone”). Pathstone is an SEC registered investment adviser with approximately $48.2 billion of assets under management (“AUM”) as of December 31, 2023. Pathstone through Pathstone Intermediate Holdings, LLC, is a wholly owned subsidiary of Pathstone Holdings, LLC which is further owned by investment vehicles controlled by Kelso & Company (“Kelso”) and by Lovell Minnick Partners, LLC (“LMP”), as well as certain employees and clients of Pathstone both directly and indirectly. Pathstone is an integrated wealth management organization providing multi- generational financial management services. Pathstone provides comprehensive wealth management for individuals, families, and institutions, including private foundations and family entities. Pathstone also provides family office services, including financial planning, consulting, expense management, bill pay, concierge services, philanthropic management, tax compliance/tax return preparation to individuals, investment limited partnerships, pension and profit- sharing plans, trusts, estates, charitable organizations, corporations and business entities. Services Provided to Advisory Clients Cambrian’s current clients are private funds and/or special purpose vehicles owned by private funds (in either case, “Affiliated Funds”). It is expected that many of the investors in such Affiliated Funds may also be clients of Pathstone. Employees of Pathstone and/or their affiliates will also invest

in the Affiliated Funds. Affiliated Fund advisory services are provided pursuant to a Fund Advisory Agreement or Investment Management Agreement or similar investment advisory agreement (in any case, an “IMA”) tailored to the requests of applicable Affiliated Funds and their respective General Partner(s) (each a “General Partner” - generally also a Cambrian affiliate). Cambrian does not tailor its advisory services to the individual needs of any underlying investor. March 28, 2024 Page 5 As provided for in applicable IMA(s), Cambrian assists and advises Affiliated Fund General Partner(s) with the management of certain business and investment operations. As manager or investment adviser of an Affiliated Fund, Cambrian assists and advises the General Partner with such matters as: (i) identifying, evaluating and selecting potential underlying funds in which to invest Affiliated Fund assets and potential underlying managers to manage all or a portion of Affiliated Fund assets; (ii) allocating Affiliated Fund assets among various investments; and (iii) monitoring ongoing Affiliated Fund performance. Cambrian may also deploy the assets of Affiliated Funds to non-fund investments and may maintain bank and other accounts for Affiliated Funds. Furthermore, Cambrian provides or assists in the provision of other portfolio management, investment management, administrative and managerial services for Affiliated Funds. Cambrian may also assist in certain underlying fund matters (such as with regard to the vehicles in which Affiliated Funds invest). Regulatory Assets Under Management As of the date of this Brochure, the total regulatory assets under management are $331,534,003 representing the total commitments of the three private funds namely, Cambrian Capital Partners (Master) Fund I, L.P., Cambrian Anchor Capital Partners (Master) Fund I, L.P., and Cambrian Anchor Capital Partners (Offshore) Fund I, L.P. Wrap Fee Programs Cambrian does not offer or participate in wrap fee programs.