ADVISORY BUSINESS A. General Description of Advisory Firm GLG LLC, a Delaware limited liability company with its principal place of business located in New York, New York, USA, was originally formed in April 2002. The Firm offers advisory or sub-advisory services to U.S. or non-U.S. institutional managed accounts and pooled investment vehicles on either a discretionary or non-discretionary basis. In addition, the Firm offers sub-advisory services on a discretionary basis to investment companies, including mutual funds and exchange traded funds, registered under the Investment Company Act of 1940, as amended (“Company Act”). The direct owner of the Firm is Man Investments Holdings Inc., an indirect, wholly-owned subsidiary of Man Group plc. Man Group plc is a public company listed on the London Stock Exchange and is a component of the FTSE 250 Index. Man Group plc, through its investment management subsidiaries (collectively, "Man"), is a global investment management business and provides a range of fund products and investment management services for institutional and private investors globally. As of December 31, 2023, Man had approximately $167.5 billion of assets under management.1 The Firm is doing business as Man Group which represents the marketing name of the Firm. The Firm has full discretionary advisory investment management authority with respect to investment decisions for U.S. and non-U.S. pooled investment vehicles, including private funds (the "Private Funds") and managed accounts. The Firm also provides sub-advisory services to certain pooled investment vehicles including affiliated private funds and UCITS funds (collectively with the Private Funds, (the “Funds”) and a third-party exchange traded fund (“ETF”). The Firm's advice with respect to the Funds, ETF and managed accounts is made in accordance with the investment objectives and guidelines as set forth in the applicable Fund's offering memorandum, ETF’s prospectus or the managed account's investment management agreement or other legal documents. “Funds” may include one or more funds that the Firm, affiliates or employees2 have seeded or invested over 25% of the capital of such Funds. Important information regarding each Fund, ETF, and managed account, which includes investment objectives, risks, strategy, fees and other material information, including applicable conflicts of 1 Man assets under management as stated in the Man Group plc Annual Report include advisory-only assets over which Man has no decision making or trading authority and dedicated managed account platform services for which Man provides platform and risk management services but does not provide investment management services. 2“Employee(s)” for purposes of this Brochure includes personnel, partners, officers, directors (other than non- executive directors of Man Group plc) and other persons with similar status or performing similar functions. interest is contained in each Fund’s offering documents, ETF’s prospectus and in each managed account's investment management agreement, as the case may be. As used herein, the term "client" generally refers to each Fund, ETF, and each beneficial owner of a managed account. As part of its services, the Firm provides discretionary investment management and research services to certain clients or Funds of its affiliate, GLG Partners LP, which is located in London, England and is an investment adviser registered with the SEC and is authorized and regulated by the Financial Conduct Authority in the United Kingdom. In connection with these services, the Firm manages select portfolios of certain pooled investment vehicles, including private funds, UCITS, other pooled investment vehicles and managed accounts for which GLG Partners LP serves as investment manager or in a similar capacity. GLG Partners LP may utilize the Firm’s investment management, trading and research in providing services to its clients. The Firm may offer non-discretionary investment management services. With respect to non-discretionary accounts, the Firm would have on-going responsibility to select or make recommendations, based upon the needs of the client, as to specific financial instruments the account may purchase or sell and, if such recommendations are accepted by the client, the Firm would be responsible for arranging or effecting the purchase or sale. From time to time, certain affiliated advisory firms may be considered “Participating Affiliates” of the Firm (as that term is used in relief granted by the staff of the Securities and Exchange Commission (“SEC”)) allowing investment advisers registered with the SEC to use portfolio management, research, operations, and trading resources of advisory affiliates and personnel subject to the supervision of an SEC-registered adviser. Professionals from such Participating Affiliates may render portfolio management, research, or other related services to the Participating Affiliates under separate services agreements. Fees may be paid by and received from the parties under these arrangements. Man provides a number of centralized functions to the Firm, which includes trading, financing and cash management, risk management, operations, middle office accounting, finance, proxy voting, class actions, human resources, facilities, tax, legal, compliance, information technology, among other such services. The Firm utilizes investment management, research, investment models, trade execution, client servicing, sales and marketing capabilities of its affiliates in providing

services to its clients. In addition to these services, the Firm’s affiliates may utilize its investment management, research, trade execution and other services in providing services to their clients. B. Description of Advisory Services Please see Item 8 herein. This brochure generally includes information about the Firm and its relationships with its clients and affiliates. While much of this brochure applies to all such clients and affiliates, certain information included herein applies to specific clients or affiliates only. Important information regarding each fund and managed account, which includes investment objectives, risks, strategy, fees and other material information, including applicable conflicts of interest regarding relationships with affiliates, is contained in each fund’s offering documents and in each managed account's investment management agreement, as the case may be. C. Availability of Customized Services for Individual Clients The Firm's investment decisions and advice with respect to each Fund are subject to the Fund's investment objectives and guidelines, as set forth in its offering documents. Similarly, the Firm's investment decisions and advice with respect to each managed account are subject to each client's investment objectives and guidelines, as set forth in the client's investment management agreement, other legal documents as well as any written instructions provided by the client to the Firm. A Fund may issue multiple classes, sub-classes, tranches, sub-tranches and/or series (or sub-series) of shares or interests, as applicable, in the future or enter into side letter agreements with certain investor(s) that alter, modify or change the terms of the shares or interests, as applicable, held by the investor(s), which may differ and may be more favorable from the shares or interests, as applicable, currently offered by the Fund in terms of, among other things, the performance compensation, the management fee, redemption rights (including redemption dates and notice periods), currency denomination, minimum and additional subscription amounts, informational rights and other rights. New classes, sub-classes, tranches, sub-tranches and/or series (or sub-series) of shares or interests, as applicable, may be issued (or "side letter" agreements may be entered into) by a Fund's board of directors, in its sole discretion, on behalf of the Fund, in consultation with the Firm, without providing prior notice to, or receiving consent from, existing investors. The terms of such classes, sub-classes, tranches, sub-tranches and/or series (or sub- series) or "side letter" agreements will be determined by the board of directors, in its sole discretion, in consultation with the Firm. In general, a Fund will not be required to notify investors upon entering into "side letter" agreements nor will a Fund be required to offer such additional and/or different rights and/or terms to any or all of the other investors. D. Collateralized Loan Obligations The Firm offers investment management services as collateral manager to certain collateralized loan obligation special purpose vehicles (each a "CLO"). CLO is in the form of a non-U.S. entity that issues rated notes (“Rated Notes”) and non-rated notes (“Equity” and, together with the Rated Notes, “Notes”) under an indenture (“Indenture”). The Notes of the CLO are secured by a portfolio of assets consisting primarily of "Leveraged Loans” (described further below) owned by the CLO and managed by the Firm pursuant to the terms of an investment management agreement between that CLO and the Firm. Investors who wish to obtain exposure to Leveraged Loans and similar investments, including, high yield bonds, may do so through purchasing Notes issued directly by the CLOs. Investment management agreements and related Trust Deed documentation contain detailed specifications and requirements regarding the types of Leveraged Loans and other assets the Firm is permitted to acquire on behalf of the CLOs and specify the circumstances in which we can purchase and sell assets, as well as the overall composition of the portfolio (diversity, concentration, ratings, etc.). These investment guidelines are generally not tailored to the individualized needs of any particular investor or holder of Notes (each a “Noteholder”). At inception, however, specific asset criteria or portfolio guidelines may be established in consultation with certain key, prospective investors. Generally, prospective investors and Noteholders must independently consider whether a particular CLO meets their investment objectives and risk tolerances prior to investing. In connection with the pre-launch phase of a CLO’s lifecycle, the Firm also acts as investment manager in respect of the “warehouse” assets acquired by that CLO. Generally, such warehouses are expected to be operative for a 12-month period prior to launch of a CLO, although the term may vary depending upon market conditions. Further, such warehouses are often capitalized by some of the CLO Note holders as well as the Firm, its affiliates, or funds managed by such affiliates, with leverage provided by the CLO underwriter. References to CLOs infra include references to such warehouses. E. Wrap Fee Programs The Firm does not participate in wrap fee programs. F. Assets Under Management The Firm managed approximately $7.4 billion in regulatory assets under management on a discretionary basis as of December 31, 2023.