A. Advisory Firm Description Ullico Investment Advisors, Inc. (“UIA” or “Firm”) registered with the SEC in April 1990 as an investment adviser under the Investment Advisers Act of 1940, as amended. UIA is 100% owned by Ullico Inc., a privately held stock company. The stock of Ullico Inc. is primarily owned by pension funds and other union-affiliated organizations. Ullico Infrastructure Management Company, LLC (“UIMC) and UIA Investment Management, LLC (“UIA-IM”), which are UIA subsidiaries, and UIF GP, LLC, Ullico ISCF, LLC, Ullico DIEF, LLC and Ullico Value-Add Fund I GP LLC, which are the General Partners of private funds wholly owned by UIA, are filing as Relying Advisers in reliance upon an umbrella registration of UIA. B. Advisory Services Description UIA was established to provide investment services to institutional investors. UIA offers a diverse range of investment products in traditional equity, fixed income, and alternative investments. UIA operates primarily across four investment groups: (i) Ullico Infrastructure Management Company, LLC, a UIA Relying Adviser managing infrastructure investments; (ii) UIA Investment Management, LLC, a UIA Relying Adviser providing fixed income management services; (iii) Real Estate Debt Group, managing privately issued mortgages on commercial properties; and (iv) Real Estate Equity, managing ownership of commercial real estate. UIA also manages multi-manager international equity portfolios. UIA provides investment management services to institutional investors through (i) separately managed accounts and (ii) privately offered commingled investment funds that are exempt from the registration requirements of the Securities Act of 1933, as amended and the Investment Company Act of 1940, as amended (“Private Funds”). UIA-advised Private Funds include limited partnerships, insurance company separate accounts, and collective investment funds. In certain cases, UIA has hired unrelated investment advisers to research and select securities and execute trades. Unrelated sub-advisers have been retained to manage one separately managed account strategy (Domestic Small Cap Value Equity) and two of the Private Funds (Ullico Diversified International Equity Fund and Ullico International Small Cap Fund). UIA requires that all of their unrelated sub-advisers register with the SEC as investment advisers. UIA currently has sub-advisory agreements with the following unrelated investment advisers: A. ClearBridge Investments, LLC; B. William Blair Investment Management, LLC; C. American Century Investment Management, Inc.; D. Dimensional Fund Advisors, L.P.; E. Thompson, Siegel and Walmsley LLC; and F. Leeward Investments, LLC The Union Labor Life Insurance Company (“Union Labor Life” or “ULL”) is an affiliate of UIA,

and an insurance company registered in 50 states and the District of Columbia. UIA has been retained as investment adviser for several commingled insurance company separate accounts offered through a group annuity contract issued by Union Labor Life. In addition, UIA has been retained as an investment adviser for the Ullico J for Jobs Collective Investment Fund (“J for Jobs CIF”) and Ullico SFA Fixed Income Collective Investment Fund (“SFA CIF”), both of which are collective investment funds sponsored by Hand Benefits & Trust Company (“HBT”) under the Hand Composite Employee Benefit Trust. UIA and Acropolis Investment Management LLC (“Acropolis”) have established Ullico Retirement Solutions, a financial product solution and investment platform, which is available to defined contribution, individual account retirement plans offered by employers that employ bargaining unit employees, labor organizations that employ individuals in furtherance of their exempt activities, and trustees or other sponsors of multiemployer plans. Under the terms of the agreement with Acropolis, UIA will receive compensation for the sales of Ullico Retirement Solutions. C. Tailoring Advisory Services For clients with separately managed accounts, UIA tailors advisory services to the individual needs of the clients. Clients with separately managed accounts may impose restrictions on investing in certain securities or types of securities. The investment advisory services provided by UIA to Private Funds structured as limited partnerships are outlined in each Fund’s private placement memorandum, limited partnership agreement, subscription documents, or other related documents. Investors invested in UIA’s limited partnership Private Funds may not impose restrictions on investing in certain securities or types of securities. UIA advises the J for Jobs and SFA CIF’s subject to limitations set forth in the CIF’s Investment Policy Statements provided by HBT. UIA manages the Union Labor Life commingled insurance company separate accounts subject to the investment guidelines set forth in the Plan of Operations and disclosure memoranda. D. Wrap Fee Program A wrap fee program is defined by the SEC as any advisory program under which a specified fee or fees not based directly upon transactions in a client’s account is charged for investment advisory services (which may include portfolio management or advice concerning the selection of other investment advisers) and the execution of client transactions. UIA does not participate in any wrap fee programs. E. Assets Under Management As of December 31, 2023 UIA managed $11,318,266,665 in regulatory assets under management on a discretionary basis. UIA does not have any regulatory assets under management that are managed on a non-discretionary basis.