Merit was founded in 1989 and provides portfolio management and administrative services to investment fund limited partnerships (collectively, the “Funds”) whose investors include institutions such as endowments, foundations, and pension funds, as well as fund of funds, family offices and high net worth individuals (collectively, the “Investors”). The Funds were formed by Merit for the purpose of acquiring net profits interests and other passive investments in mature, producing oil and gas assets located in the United States and other energy-related assets as permitted in the Funds’ respective limited partnership agreements and other governing documents (the “Governing Fund Documents”). An affiliate, Merit Management Group Holdings, LLC (“Merit Holdings”), was formed in 2023 and is a relying advisor. Merit’s principal owner is Merit Energy Management, L.P., a limited partnership owned, directly and indirectly, by the family of William K. Gayden (deceased). Terry D. Gottberg, Merit’s Chairman of the Board, Chief Executive Officer and President, is also an owner in Merit. Mr. Gottberg indirectly controls any investment vehicles through which the management team participates in a Fund. Typically, within each Fund structure is a designated general partner (the “General Partner(s)”) affiliated with Merit. Unless and only to the extent the context otherwise requires, references to Merit include Merit Holdings, the General Partner(s), and any affiliates thereof used in connection with the acquisition and ownership of

oil and gas assets in which the Funds own Investments. Merit provides the Funds with discretionary advisory services, portfolio management and administrative services, including investigating, analyzing, structuring, and negotiating potential investments, monitoring the performance of assets, and identifying disposition opportunities. Investment advice is provided directly to the Funds and not tailored to any individual Investor. Merit manages the assets of the Funds in accordance with the terms of the Governing Fund Documents. Within the parameters of the Governing Fund Documents, Merit has discretion over which oil and gas interests the Funds buy, hold, and sell, and Investor-approval is not required. Except in limited circumstances, Investors are not permitted to withdraw from a Fund prior to the Fund’s dissolution. Merit also engages in over-the-counter derivative transactions for commodity price risk management practices on behalf of the Funds. Merit does not give advice with respect to other securities. Equity interests in the Funds are not registered under the U.S. Securities Act of 1933, as amended (the “Securities Act””), and the Funds are not registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”). Accordingly, limited partnership interests in the Funds are offered and sold exclusively to Investors satisfying the applicable eligibility and suitability requirements. As of December 31, 2023, Merit managed approximately $4.6 billion of assets on a discretionary basis.