Adviser’s Advisory Business Tree Line Advisors (Hong Kong) Ltd., a company incorporated with limited liability in Hong Kong (“Adviser”), acts as an investment adviser and provides investment advisory services for the private investment companies in a master-feeder fund structure that are described below. Adviser may also provide direct investment advisory services for accredited investors and qualified clients on a discretionary basis. Adviser was established in 2006, along with its parent company, Tree Line Investment Management Ltd. (“TLIM”), and its Singapore sister subsidiary, Tree Line Advisors (Singapore) Pte Ltd. (“TLS”). TLIM, Adviser and TLS are members of the Tree Line Group. Adviser is wholly owned by TLIM, which is principally owned by Zaheer Abbas Sitabkhan, a director of Adviser (“Mr. Sitabkhan”). Mr. Sitabkhan is also the executive director of each of the private investment companies for which the Adviser provides investment advisory services. TLIM does not provide investment advice or investment management services. TLS does not provide advice independently from Adviser. Types of Advisory Services Adviser Offers Adviser has been engaged to provide investment advisory services to the Tree Line Asia Master Fund, a Cayman Islands exempted company (the “Master Fund”) and two feeder funds, the Tree Line Asia Fund, a Cayman Islands open-ended investment company with limited liability and the Tree Line Asia U.S. Feeder Fund, a Cayman Islands open-ended investment company with limited liability (the “Feeder Funds,” and together with the Master Fund, the “Funds”), in its capacity as investment adviser of the Funds. Interests in the Funds are not registered securities under the U.S. Securities Act of

1933, as amended (the “Securities Act”). In addition, the Funds are not registered as investment companies under the U.S. Investment Company Act of 1940, as amended (the “Investment Company Act”). Accordingly, interests in the Funds that are offered and sold to U.S. persons are sold to U.S. persons that satisfy applicable eligibility and suitability requirements in private transactions pursuant to available exemptions under the Securities Act, the Investment Company Act and any applicable U.S. state securities laws. Adviser provides investment advisory services to the Funds through the management of investment portfolios in accordance with the investment objectives, risk tolerance and additional guidelines as stated in each Fund’s Private Placing Memorandum (the “PPM”). Adviser expects that its investment activities will focus on investments in various kinds of assets and securities in various Asian markets and any other markets that may fit within the Funds’ objectives and strategies described in their PPMs. Currently, the Funds generally may not impose restrictions on the management of their accounts, other than restrictions stated in the PPMs of the Funds and other restrictions that are customary in the ordinary course of business. Clients should be aware that performance of restricted accounts may differ from performance of accounts without such impediments, possibly producing lower overall results. Adviser does not participate, sponsor or act as a portfolio manager for any wrap fee programs. Regulatory Assets Under Management As of 31 December 2023, Adviser had regulatory assets under management of US$1,114,660,645 of which all was managed on a discretionary basis and US$ 0 was managed on a non-discretionary basis.