GoldenTree is an employee-owned, global asset management firm that specializes in opportunities across the credit universe in sectors such as high yield bonds, leveraged loans, private credit, distressed, structured products, emerging markets and credit-themed equities. Founded in 2000 by Steven A. Tananbaum, GoldenTree is one of the largest independent global credit asset managers with over $53 billion in assets under management across a broad platform of alternative and long-only strategies. The Firm has a demonstrated 24-year track record of deploying capital across sector, industry and geography that has delivered strong absolute and relative performance. GoldenTree’s fundamental, value-based investment approach - implemented over its history - emphasizes and seeks to achieve a high margin of safety, attractive relative value and a catalyst to drive total return. This process is executed by the Firm’s experienced investment team comprising over 70 investment professionals with on average 15 years of investment experience. We believe the Firm’s partnership structure, along with significant employee and partner commitments to the Firm’s strategies, creates a strong alignment of interests with the Firm’s investors. GoldenTree has approximately 300 employees, with offices in New York, London, Singapore, Sydney, Tokyo, Dublin, Dubai, Munich, Charlotte, Dallas, Newport Beach and West Palm Beach. Note that the method for computing Client assets under management is different than the method for computing regulatory assets under management required for Item 5.F. in form ADV Part I. GoldenTree has been registered with the United States Securities and Exchange Commission (“SEC”) since January 2001. GoldenTree is a Delaware limited partnership formed in 2000. Mr. Steven A. Tananbaum is the Senior Managing Member of GoldenTree Asset Management LLC, the General Partner of GoldenTree. GoldenTree and its affiliated entities offer investment advisory services and generally manage discretionary investment funds or accounts for institutional investors including public and corporate pensions, endowments, foundations, insurance companies and sovereign wealth funds. GoldenTree offerings include the following:  Private Investment Funds (each a “Fund” and collectively, the “Funds”): GoldenTree sponsors various Funds such that an underlying Fund investor can invest in a particular Fund that best suits its own investment objectives and risk tolerances. Investors in GoldenTree Funds must be both (i) “Accredited Investors” and “Qualified Purchasers” or (ii) non-U.S. persons as defined under applicable SEC rules and regulations.  Separate Account Mandates (together with the “Funds”, the “Clients”): GoldenTree offers Clients the ability to customize their separate account mandates as described in the investment program of the relevant Client’s private placement memorandum or as set forth in the Client’s organizational documents and/or in the investment management agreement with such Client. While Clients generally choose GoldenTree

as an investment manager based on its global credit expertise, Clients may impose investment restrictions based on their individual investment objectives. For example, some Clients may have regional or instrument type limitations. Further, while some Clients may choose to invest solely on a long-only basis, other Clients will permit short selling or use of leverage.  Collateralized loan obligation (“CLOs”): GoldenTree has six affiliated, U.S.-based relying advisers, GoldenTree Loan Management, LP ("GLM Master") and its wholly-owned subsidiary GLM, LP ("GLM Sub" and together with "GLM Master", collectively “GLM”), GoldenTree Loan Management II LP ("GLM Master II") and its wholly-owned subsidiary GLM II, LP ("GLM Sub II" and together with "GLM Master II", collectively “GLM II”) and GoldenTree Loan Management III LP ("GLM Master III") and its wholly-owned subsidiary GLM III, LP ("GLM Sub III" and together with "GLM Master III", collectively “GLM III”). Each of GLM, GLM II and GLM III have been formed to manage vehicles investing primarily in senior secured debt obligations, most or all of which will be in the form of CLOs, and to perform related functions. Prior to the formation of GLM Sub, GLM Sub II and GLM Sub III, the CLOs received management services from GLM Master, GLM Master II and GLM Master III, which management services have been transitioned to GLM Sub, GLM Sub II and GLM Sub III, respectively. GLM, GLM II and GLM III have entered into a services agreement with GoldenTree through which, for a fee, GLM, GLM II and GLM III are able to utilize GoldenTree's sector research, capital markets, structured products, trading and client services expertise as well as GoldenTree’s administrative, operational and legal/compliance related services. GLM, GLM II and GLM III do not have employees. GoldenTree is the manager for CLO funds originally issued prior to 2017 or subsequently refinanced.  1940 Act Registered Fund: GoldenTree has an affiliate, GoldenTree Asset Management Credit Advisor LLC, that serves as a U.S. based registered investment adviser for the purpose of managing (under a sub-advisory agreement) funds registered under the United States Investment Company Act of 1940. Please note that GoldenTree does not participate in wrap fee programs. Please refer to Item 8 for a more detailed description of GoldenTree’s investment strategies as well as the securities and other instruments purchased by Clients under the management of GoldenTree. Persons reviewing this Brochure should not construe this as an offering of securities or a solicitation to purchase shares in any of the Funds described herein, which will only be made pursuant to the delivery of a private placement memorandum to eligible investors. These Funds, as well accounts managed directly by GoldenTree, will provide for an investment management agreement between the Client and GoldenTree detailing the types of investments that may be purchased/sold, whether the Client may use leverage and to what extent, and whether short- selling is permitted.