General Description of Brown Advisory Brown Advisory Investment Solutions Group LLC (together with its relying adviser, “BAISG”, the “firm”, or “we”) is an investment adviser specializing in alternative investments. BAISG was founded in 2002 and is a wholly-owned subsidiary of Brown Advisory Management LLC. Brown Advisory Management, LLC is a wholly-owned subsidiary of Brown Advisory Group Holdings, LLC. The managing member of Brown Advisory Management LLC is Brown Advisory Incorporated, a Maryland corporation. Advisory Services BAISG offers the following advisory services: 1) as a discretionary or non-discretionary investment adviser to BAISG-sponsored private funds, and 2) as a non-discretionary investment adviser to individuals and institutions. BAISG’s advisory services are generally limited to alternative investments. However, from time to time, the firm also provides non-discretionary asset allocation recommendations to clients seeking recommendations on both alternative and traditional investment portfolios. Private Funds The firm offers investment advice to a variety of single-strategy, multi-strategy and direct investment private funds sponsored by BAISG. The firm provides discretionary advice to broad multi-strategy funds covering many asset classes and investment approaches, and focused multi- strategy funds based on specific investment approaches (private equity, venture capital, private credit, real estate, global macro strategies, event-driven strategies, etc.). It offers non-discretionary investment advice to single-strategy funds that invest in a portfolio company or with a specific private equity or hedge fund manager. The firm’s principals leverage their expertise in alternative investments to build funds focused on managers and portfolio companies within the private equity, private credit, private real estate, venture capital and hedge fund universes. In its fund-of-fund business, BAISG focuses on investing with established managers and firms. Most multi-strategy funds are relatively concentrated and invest in what BAISG views as top investment managers and ideas. The firm also offers venture capital funds that provide direct investments in early-stage companies. For certain of these investments, we leverage a network of relationships to help us develop insight into industry sectors and companies in which we invest. Individual and Institutional Clients The firm also offers investment advice to individual and institutional clients in the form of asset allocation and portfolio construction recommendations as well as recommendations regarding specific investment managers. From time to time, the firm also provides certain clients with non- advisory services, such as reporting on private equity holdings, providing administrative services to certain fund clients, such as accounting and tax reporting, and providing due diligence reports and other information with respect to underlying funds and unaffiliated advisers. Engagements with clients are characterized by attention to individual client returns, volatility and downside 5 / Brown Advisory Investment Solutions Group / Form ADV Part 2A Brochure protection targets; portfolios focused on what the firm views as reputable managers in the industry; and in-depth communication with clients about the strategies of those managers, how those managers are performing and whether those managers’ ongoing portfolio decisions are consistent with their stated strategies. The firm strives to achieve efficient diversification of portfolios – for example, we seek to construct portfolios that are relatively concentrated among top-tier managers, but that include managers with relatively low performance correlation to each other, subject to the

client’s objectives and available investment opportunities. We believe that this approach offers the potential for meaningful outperformance while maintaining moderate volatility and downside protection. Interests in BAISG’s private funds are privately offered only to eligible investors pursuant to exemptions available under the Securities Act of 1933, as amended (the “Securities Act”), and the regulations promulgated thereunder. Such investment vehicles are not registered with the Securities and Exchange Commission (“SEC”) as investment companies based on specific exclusions from the Investment Company Act of 1940, as amended (the “Investment Company Act”). Therefore, investors in such funds are not subject to the protections of the Investment Company Act. Typically, interests in such investment vehicles are offered primarily to high net worth individuals as well as to institutional investors. Employees of BAISG and its affiliates may invest alongside other investors and advisory clients. Other qualified individuals who may not be employees or advisory clients of BAISG or another Brown Advisory entity, but who have pre- existing business relationships with the firm or its affiliates or industry expertise in the sector in which a fund may be investing, also may participate alongside other investors. Tailored Advice and Client-Imposed Restrictions Each private fund sponsored by the firm has its own investment objectives, strategies and restrictions. Certain funds focus on a narrow investment strategy while others pursue a broad investment strategy. BAISG prepares offering materials with respect to each fund that contain more detailed information, typically including a description of the investment objective and strategy or strategies employed and any related restrictions. These offering materials serve as a limitation on the scope of BAISG’s investment management of the fund. Separate account clients can also impose restrictions on the firm’s management of individual accounts through documents that set forth the investment program for the client. While separate accounts may be reasonably tailored based on the individual needs of a client, as agreed to with BAISG, none of the funds are tailored to meet the individualized investment needs of any particular investor. Furthermore, an investment in a fund does not create a client-adviser relationship between BAISG and an investor. Further discussion of the strategies, investments and risks associated with a fund or separate account management is included in the relevant materials for each type of client. Clients and investors must consider whether an investment in a particular fund or establishing an advisory relationship with BAISG is appropriate to their own circumstances based on all relevant factors including, but not limited to, the client’s or investor’s own investment objectives, liquidity requirements, tax situation and risk tolerance. Prospective clients and investors are strongly encouraged to undertake appropriate due diligence, including but not limited to a review of relevant offering materials for the funds or the documents relating to the proposed investment 6 / Brown Advisory Investment Solutions Group / Form ADV Part 2A Brochure program for the separate account and the additional details about the firm’s investment strategies, methods of analysis and related risks in Item 8 of this Brochure, before making an investment decision. Assets Under Management As of December 31, 2022 the firm had approximately $9.9 billion in regulatory assets under management. Of that total, approximately $1.2 billion represented discretionary assets and $8.8 billion represented non-discretionary assets.