Karlov Street Capital, LLC is a Delaware limited liability company located in Boca Raton, Florida. Karlov invests in private placements across the asset spectrum, including real estate, growth equity, private equity, and lending investments. The Firm was founded in 2015 and has been listed as an exempt reporting adviser since August 2017. Karlov is principally owned and managed by Karlov Street Partners, LLC. Karlov provides discretionary investment advisory services to investment vehicles generally structured as limited liability companies (each an “LLC” and collectively the “LLCs”) to provide access to third-party private investment funds. In addition, Karlov provides investment advisory services to certain pooled investment vehicles structured as private funds (each a “Fund” and collectively the “Funds”) which are structured to invest in private investments or to function as access funds into other private funds (the LLCs and the Funds are each a “Client” and collectively are the “Clients”). Karlov’s advisory services primarily include identifying underlying private equity or fund managers with whom to invest the assets of each Client. Karlov also seeks unique investment opportunities for the Funds. Each Client is governed by a limited liability company agreement, operating agreements and/or private placement memorandum (“Governing Documents”). Karlov is either the managing member or non-member manager of each Client (in such capacity, the “Manager”). Investment advice is provided by Karlov directly to each Client and not individually to the investors or limited partners thereof, subject to the direction and control of the Manager. “Investors” refers to investors or limited partners in

each Client. The Clients managed by Karlov were formed to pool investments of Investors for the purposes of investing each Client’s assets with private equity or other private fund vehicles (“Underlying Funds”) managed by third-party managers (“Underlying Managers”) that are selected by Karlov. Each Underlying Fund has its own governing documents which includes important disclosures with respect to investment related risks, macroeconomic considerations, fees and expenses, as well as other potential conflict issues and disclosures as determined by the Underlying Managers. A list of Karlov’s Clients are disclosed in the Form ADV Part 1. Each of the Clients is exempt from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”), pursuant to Section 3(c)1 or 3(c)7 of the Investment Company Act. The Firm manages each Client in accordance with the investment objectives and limitations set forth in the respective Client’s Governing Documents. Since Karlov does not provide individualized advice to Investors, Karlov encourages Investors to work with their personal financial and legal advisors to determine whether a particular Client meets their investment objectives and risk tolerance prior to investing. Karlov does not permit Investors in each Client to impose limitations on the investment activity described in the Governing Documents. The Firm does not participate in wrap fee programs. As of the date of this filing, the Firm managed approximately $257,153,982 of regulatory assets on a discretionary basis. The Firm does not manage any investments on a non-discretionary basis. Jacob Shapiro is Karlov's Chief Compliance Officer (“CCO”).