Ancient Management LP d/b/a Ancient (“Ancient”, the “Investment Manager”, or the “Firm”), a Delaware limited partnership, is a private investment company that has been in business since March 4, 2020. Ancient is owned and controlled by its principal, Alexander M. Klabin (the “Principal” or “Mr. Klabin”). Ancient’s principal place of business is in New York, NY. Ancient manages and provides investment advisory services to one or more private investment vehicles (each a “Private Vehicle”). Hereinafter, each of the Private Vehicles is referred to as a “Client” and collectively the “Clients.” Ancient seeks to source, evaluate, acquire and manage investments, in operating businesses, principally through equity or equity-oriented securities that provide Ancient with control rights in respect of such businesses. Ancient may also source, evaluate, acquire and manage minority equity investments and debt-securities that offer equity-like returns in operating businesses, in each case, preferably with a view to attaining a control position. Ancient seeks capital commitments (“Commitments”) on an ongoing basis from sophisticated investors, including family offices, investment funds and institutional investors (“Investors”), to invest in one or more Private Vehicles that are managed by Ancient. Ancient provides investment management services on a discretionary basis to such Private Vehicles relating to various investment strategies, predominantly, relating to private equity investments in operating businesses, principally through equity, equity-oriented, or debt securities which offer equity- like returns. Ancient tailors

its advisory services to the specific investment objectives and restrictions of each Client, pursuant to the investment guidelines and restrictions set forth in each Client’s advisory agreement, management agreement and other governing documents (collectively, the “Governing Documents”). The advisory agreement and other relevant Governing Documents will generally be established at the time of entry into the applicable advisory relationship. Ancient does not participate in wrap fee programs. As of December 31, 2023, Ancient managed approximately $361,363,393 in discretionary regulatory assets under management in a single Private Vehicle. Additional detailed information about Ancient is provided in this Brochure, including information about Ancient’s advisory services, investment approach, personnel, affiliations, and risk factors. More complete information about Ancient, and the particular investment objectives, strategies, guidelines and risks associated with capital committed to Ancient’s Private Vehicles, is included in materials provided to prospective Investors addressing Ancient’s role and responsibilities with respect to Investors’ Commitments, which documents are made available to prospective Investors only by Ancient (or another party authorized by the Ancient to do so). Prospective Investors must consider for themselves whether a Commitment to a Private Vehicle created and managed by Ancient meets their investment objectives and risk tolerance prior to investing, as Ancient does not always provide individualized advice to Investors, in particular, in relation to a Private Vehicle.