Advisory Services and History As used in this brochure, "MWG", "we," "our," and "us" refer to The Molpus Woodlands Group, LLC, Molpus Woodlands Fund III GP, LLC, Molpus Woodlands Fund IV GP, LLC, and Molpus Woodlands Fund V GP, LLC.
MWG, a Timber Investment Management Organization ("TIMO") and Registered Investment Advisor (registered with the SEC since 2004), and its operating affiliates, specialize in locating, acquiring and managing timberland in the industrial timberland-growing regions of North America, primarily in the United States for pension funds, college endowments, foundations, insurance companies, and high net-worth individual investors. MWG focuses on ensuring long-term optimum cash returns on investments while practicing responsible forest stewardship. MWG has experience in all facets of timber management, manufacturing, and marketing. In addition, MWG is one of the few TIMOs that has most of its core businesses and forestry functions handled or supervised by in-house experts. MWG's investment advisory services are limited to timber management services and tailors its timberland investments to the objectives and guidelines of its clients. MWG provides investment advisory services to separate account clients and six private funds: Molpus Woodlands Fund III, L.P., Molpus Woodlands Fund III (Cayman), L.P., Molpus Woodlands Fund IV, L.P., Molpus Woodlands Fund IV (Cayman), L.P., QIC Parallel Fund IV, L.P. and Molpus Woodlands Fund V (the "Funds"). The Funds are not registered as investment companies under the Investment Company Act in reliance on the exemption contained in Section 3(c)(7) thereof. The investment advisory services provided to the Funds are governed by the offering documents of the Funds. MWG's history dates to 1905 when two mercantile clerks (one of whom was Richard H. Molpus, the grandfather of Richard H. Molpus, Jr.) formed a partnership to create the Henderson-Molpus Mercantile Store, the predecessor to Molpus Lumber Company ("MLC"). Under the leadership of Richard H. Molpus, the son of the original founder, MLC continued its growth and eventually became the 10th largest independently-owned lumber manufacturer in the

United States. In 1911, the company opened a small lumberyard consisting of a dry kiln and planer mill. By the start of World War II, the company had its first sawmill and contracted with the U.S. government to construct ammunition boxes. The company then expanded to create the Molpus Hardwood Company ("MHC"), formed in 1969 to utilize hardwood timber in the area. In 1974, MHC opened a facility in Morton, Mississippi, which became one of the nation's largest and most technologically-advanced sawmills of its time. In the 1980s, the Molpus companies ended an era of manufacturing with the sale of its lumber-producing assets to large, integrated forest products companies. However, the various Molpus entities continued to operate as Molpus Forest Products, which functioned as a wood dealer operating multiple wood yards where timber was merchandized and sold to manufacturers throughout the world.
In 1996, MWG was established as a TIMO with its executive office in Jackson, Mississippi, and its operational headquarters in Hattiesburg, Mississippi in 1999.
Assets Under Management MWG managed approximately $1,341,890,722 in private fund assets and $1,289,670,000 in separate account assets as of December 31, 2023. The separate accounts hold timber assets and therefore are not considered regulatory assets under management. All of the assets managed are considered discretionary accounts.
4 Ownership Effective March 6, 2019, Molpus Legacy, LLC acquired majority voting control of MWG. This change in ownership was part of a broader succession plan whereby a group of key executives at MWG reached an agreement with Richard H. Molpus, Jr., the sole owner of MWG, to acquire a significant portion of the company and its affiliate, Molpus Timberlands Management (MTM), which has been merged with and into MWG. Under this agreement, key executives have made notable personal and monetary investments in the future of the company, as well as becoming vested stakeholders in its success well into the future. Molpus Legacy LLC, an entity formed by key executives of MWG, owns a majority of MWG; while Mr. Molpus remains the minority member of MWG.