About the Firm: HFR Asset Management, LLC (“HFR”) is an investment adviser specializing in transparent hedge fund managed accounts and investable hedge fund index tracker products. Joseph G. Nicholas started the business in 1993. In the mid‐1990’s, Mr. Nicholas introduced a transparent managed account hedge fund investment platform, offering daily position‐level reporting, risk management and third‐party pricing and pioneered hedge fund indexation. In April 2001, HFR registered with the SEC as an investment adviser. In June 2012 HFR re‐ registered as a Commodity Pool Operator with the U.S. Commodity Futures Trading Commission and is a member of the National Futures Association. HFR’s managing member is HFR Group, LLC, a Delaware limited liability company whose managing member is Joseph G. Nicholas. HFR’s Advisory Services: HFR is the investment manager of separately managed single manager and multiple manager hedge funds on the “HFR Platform”. The HFR Platform will consist of managed accounts domiciled in Bermuda or Ireland. As part of its investment and advisory services, HFR (i) manages portfolios of private pooled vehicles; (ii) selects third party hedge fund managers to trade these managed accounts (in certain circumstances may trade the managed account itself); and (iii) provides portfolio management advisory services and reporting to such accounts. Generally, investors on HFR’s Fund Platform are banks, institutions, financial intermediaries, and high net worth individuals. HFR’s Assets Under Management (Net AUM*) and total number of accounts (December 31, 2023): U.S. Dollar Amount Total Number of Accounts Discretionary: (a) $693,548,472 (d) 5 Non‐Discretionary: (b) $ 0.00 (e) 0 Total: (c) $693,548,472 (f) 5 * Net AUM represents the total investor capital managed on a net basis by HFR. HFR Platform: The HFR Platform is a range of diversified separately managed accounts (each, a “Trust” and collectively, the “HFR Platforms”), structured as Bermuda Unit Trusts, or Irish Unit Trusts, that cover a broad range of strategies including equity hedge, event driven, macro/CTA, and relative value arbitrage. HFR will add or change these strategies over time. Each Trust is constituted by a separate trust deed (each, a “Trust Deed”) and maintains either (i) a different portfolio of assets managed according to a specific trading strategy by a single third party investment manager (“Trading Manager”) (such Trusts being referred to hereunder as “Single Manager Trusts”) or (ii) a portfolio of liquid alternative funds (the liquid alternative funds held in the trust’s portfolio being referred to hereunder as “Liquid Alternative Funds”) selected by HFR which are managed by third party investment managers (each a “Liquid Alternative Fund Manager”) according to a single strategy (such Trust holding the Liquid Alternative Funds being the HFR LA Master Trust and referred to herein as the “LA Trust”). The Liquid Alternative Funds held in the LA Trust may include, UCITS (Undertaking for Collective Investment in Transferable Securities Directive) funds, registered investment companies (including mutual funds and other U.S. Investment Company Act of 1940 funds), and exchange traded funds (ETFs). All Trusts operate under an independent custodian, trustee, and administrator. The custodial structure ensures transparency and

mitigates the risk of manager fraud and losses due to style drift. Additionally, HFR may engage a third-party Management Company to continue offering the HFR platform in a variety of jurisdictions. HFR offers investors opportunity to enhance hedge fund portfolios by providing investors with style verification, monthly (and in some cases weekly) liquidity, daily performance estimates, and exposure information such as leverage, hedge ratios, and concentrations. The HFR Platform offers monthly liquidity with no lock‐up, generally upon fifteen (15) business days’ prior written notice to the administrator with up to sixty (60) days’ notice for certain fewer liquid strategies. Certain Trusts provide weekly liquidity, as set forth in the applicable Offering Memorandum or Prospectus. Multi‐Manager Funds and HFR Index Tracker Funds: HFR serves as the investment manager to fund of fund portfolios, and the HFRX Tracker Funds. Fund of fund portfolios can invest directly in Single Manager Trusts on the HFR Platform, and/or invests in Liquid Alternative Funds managed by third party trading managers through the LA Trust. Fund of fund portfolios may also invest directly in security positions. The HFRX Tracker Funds are rules based quantitatively driven index funds designed to offer investors ability to invest across the full spectrum of hedge fund strategies on a multi‐strategy basis or invest directly into single strategies. The HFRX Tracker Funds are generally designed to track the performance of the HFRX Indices sponsored by affiliated benchmark administrator, Hedge Fund Research, Inc. HFR will provide certain clients and investors different terms based on the nature of the account. Different terms will be negotiated without sending notice or receiving consent from existing investors. These differences will include higher, lower, or no management fee or incentive allocation, different liquidity terms, or transparency. Additional examples of the different terms can be found in the funds’ Confidential Offering Memorandum. Customized Advisory Services: HFR’s investment services include advisory and co‐advisory in alternative strategies, hedge fund consulting, portfolio construction, product development, transition management, tactical allocation, trading, and risk management. HFR will offer customized strategies, custom investable index products, and other custom services to meet client‐specific objectives. These customized services are performed in partnership with the institution and are tailored to specific investment policies and guidelines. Such services include sourcing and onboarding managers to meet a client’s investment policy or client‐imposed restrictions. Bespoke Managed Account Platform: HFR offers a bespoke managed account programs for institutional investors. HFR provides client dedicated or white label options of segregated or co‐mingled structured managed accounts across multiple trading strategies. The program is highly customizable to suit the needs of the institution. Typically, the institution will determine the investment program with the ability to select and direct key elements of the platform including investment vehicle type and jurisdiction, investment manager, fund managers, liquidity, due diligence requirements, investment guidelines, 360° reporting, financing, leverage, administrator, and counterparties.