Forefront has been in business as an SEC registered investment adviser since June 3, 2010. The firm was founded by its current principal owner, Dr. Christopher C. Geczy, Ph.D., in order to provide investment management, consul�ng, investment advisory and other services to ins�tu�onal clients, pension plans, founda�ons, endowments, investment management firms, ultra-high net worth individuals and families, investment limited partnerships, trusts, corpora�ons and other business en��es including areas of investment management, por�olio construc�on, asset alloca�on, risk management, manager evalua�on and factor analysis, as well as expert witness consul�ng services and tes�mony. Prior to engaging Forefront to provide the foregoing investment advisory services, the client is required to enter into one or more agreements with Forefront se�ng forth the terms and condi�ons under which Forefront renders its services (collec�vely the “Agreement”). As of December 31, 2023, Forefront had $500,397,718 in discre�onary assets under management, of which $400,918,278 was managed on a discre�onary basis and $99,497,770 was managed on a non- discre�onary basis. In addi�on, the firm also provides investment advisory services largely to ins�tu�onal clients with aggregated por�olio assets of approximately $16 billion (collec�vely, “assets under advisement”), as discussed further below. This Disclosure Brochure describes the business of Forefront. Certain sec�ons will also describe the ac�vi�es of Supervised Persons. Supervised Persons are Forefront’s officers, partners, directors (or other persons occupying a similar status or performing similar func�ons), employees or any other person who provides investment advice on Forefront’s behalf and is subject to Forefront’s supervision or control. For purposes of this Disclosure Brochure, the term “client” generally pertains to those en��es or individuals that directly engage the services of Forefront. In some contexts, “client” may refer to the Forefront Select Master Fund, L.P. (the “FFSF Fund”), Keystone Edge SPV I, LP as well as other private funds or other pooled investment vehicles that are formed in the future (collec�vely, the “Private Funds”), managed by Forefront. However, in certain Items which discuss the opera�ons of the Private Funds, “client,” may also refer to investors (i.e., limited partners) of the Private Funds. Asset Management, Investment Advisory, and Outsourced Chief Investment Officer Services Forefront offers discre�onary, non-discre�onary asset management, outsourced chief investment officer (“OCIO”) services, and investment advisory services. Forefront generally provides discre�onary and non- discre�onary investment advice to non-profits, founda�ons, endowments, and other types of ins�tu�onal clients. Asset Management Forefront primarily recommends or allocates clients’ investments management assets among alterna�ve investment vehicles, exchange-traded funds (“ETFs”), mutual funds, independent investment managers (“Independent Managers”), individual debt and equity securi�es, deriva�ves and/or other securi�es or investments in accordance with the clients’ individual investment objec�ves. Forefront may recommend that certain clients invest in private placement investments, which may include, without limita�on, debt, equity, and/or pooled investment vehicles when consistent with the clients’ investment objec�ves. Forefront may also provide advice about legacy posi�ons or investments otherwise held in client por�olios, but clients should not assume that these assets are being con�nuously monitored or otherwise advised on by the Firm unless specifically agreed upon. Clients are advised to promptly no�fy Forefront if there are changes in their investment objec�ves or financial situa�on or if they wish to impose any reasonable restric�ons upon Forefront’s management services. A client may impose reasonable restric�ons or mandates on the management of their account (e.g., require that a por�on of their assets be invested in socially responsible funds) if, in Forefront’s sole discre�on, the condi�ons will not materially impact the performance of a por�olio strategy or prove overly burdensome to its management efforts. For ins�tu�onal pension plans, the firm may act as a named fiduciary and discre�onary investment manager under the Employee Re�rement Income Security Act of 1974 (“ERISA”). Investment Advisory As of December 31, 2023, the firm had approximately $16 billion in ins�tu�onal assets under advisement. Forefront provides these ins�tu�onal clients with ongoing investment advice pertaining to their respec�ve hedge fund investment programs, absolute return strategies, and asset alloca�on decisions. The firm also renders consul�ng services addressing investment guideline development, manager performance analysis and other quan�ta�ve or qualita�ve analy�cs. Private Offerings Some of the investment vehicles which Forefront might recommend may take the form of privately placed offerings. Accordingly, Forefront limits such recommenda�ons to clients who are deemed to be “accredited investors,” as defined under Rule 501 of the Securi�es Act of 1933 (the “Securi�es Act”) or “qualified purchasers” as defined under the Investment Company Act of 1940, as amended. Forefront does not act as its clients’ “purchaser representa�ve,” as defined under Rule 501 of the Securi�es Act, in connec�on with an investment in private placement securi�es. Rather, Forefront directs the client to consult with their individual tax advisors and atorney with respect to such a purchase. Addi�onally, the firm may provide consul�ng and advisory services to the issuer of the private placement securi�es for compensa�on, which is disclosed to clients prior to investment therewith. Unified Managed Accounts and Other Model Relationships Forefront provides model por�olios to financial professionals (each an “MP Advisor”) who in turn u�lize such informa�on in their own investment programs. Advisors can access model por�olios either directly with Forefront or through certain unrelated third party Unified Managed Account pla�orms (each an “UMA Pla�orm Provider”). In this capacity unless otherwise arranged, Forefront does not act as investment adviser to clients of an MP Advisor, but makes available certain model por�olios from �me to �me that an MP Advisor and their client may consider when managing client accounts. Forefront does not receive client level informa�on in the majority of these rela�onships and client informa�on which passes through to Forefront is not used. Forefront’s obliga�on in these rela�onships is to provide updated alloca�ons, in a �mely manner, for the strategies outlined in a writen agreement. Unlike the separately managed accounts outlined below, Forefront does not have trading discre�on for accounts in this structure. Exercising discre�on with respect to whether, how, and when to implement the recommenda�ons provided by Forefront as well as arranging for the execu�on of trades in client accounts is the responsibility of the MP Advisor and/or the UMA Pla�orm Provider. The implementa�on of the strategy and con�nual servicing of the account in these rela�onships is handled by the MP Advisor and/or the UMA Pla�orm Advisor. It is possible that the recommenda�ons implicit in the model por�olios provided to an MP Advisor will reflect recommenda�ons being made by Forefront contemporaneously to, or investment advisory decisions made contemporaneously for, similarly situated discre�onary clients of Forefront or affiliated en��es. As a result, Forefront or its affiliates may have already commenced trading before an MP Advisor has received or has had the opportunity to evaluate or act on Forefront’s model por�olio informa�on. In this circumstance, trades ul�mately placed by an MP Advisor for its clients may be subject to price movements, par�cularly with large orders or where securi�es are thinly traded, that may result in MP Advisor clients receiving prices that are less favorable than prices obtained by Forefront for its client accounts. Conversely, an MP Advisor or MP Pla�orm Provider may ini�ate trading based on Forefront’s model por�olio informa�on before or at the same �me Forefront or its affiliates are also trading for its own client accounts. Par�cularly with large orders or where securi�es are thinly traded, this could result in Forefront’s clients receiving prices that are less favorable than prices that might otherwise have been obtained absent MP Advisor’s trading ac�vity. Forefront takes reasonable steps to minimize the market impact of the model por�olios provided to an MP Advisor on accounts for which Forefront exercises investment discre�on. However, because Forefront does not control an MP Advisor or UMA Pla�orm Provider’s execu�on of transac�ons for its client accounts, Forefront cannot control the market impact of such transac�ons to the same extent that it would for its own discre�onary client accounts or the precise �ming of such trades. Separately Managed Accounts Forefront

provides discre�onary investment advisory services to Separately Managed Account (“SMA”) clients directly to individuals and ins�tu�ons and through unrelated financial intermediaries, for example, broker-dealers and registered investment advisers through non-wrap fee programs. Non-wrap fee accounts will not pay an all-inclusive wrap fee. These clients generally pay for execu�on and custody services. Separate account clients select an investment strategy a�er consulta�on with their primary advisor or Forefront. Sub-Advisory Investment Management Services Forefront may provide investment management services on a discre�onary basis to clients of various unrelated registered investment advisors and independent broker dealers under a sub-advisory asset management agreement where the registered investment advisor understands the risks connected with the investment strategy investments and the importance of considering these and other risks associated with an account to determine whether an account is appropriate for and consistent with the financial situa�on and investment objec�ves of each client. Forefront does not receive client level informa�on in the majority of these rela�onships and client informa�on which passes through to Forefront is not used. Forefront is generally appointed to act as investment manager for the accounts of specific clients and assume responsibility for the investment and reinvestment of assets within the clients’ accounts. These services should not be considered a complete investment program and Forefront and its affiliates may offer a variety of investment advisory programs and certain of their other clients receive more comprehensive investment management services than those provided by the sub-advisory services. Use of Independent Managers As men�oned above, Forefront selects certain Independent Managers, such as those specializing in SMA accounts and Private Funds to ac�vely manage a por�on of its clients’ assets. The specific terms and condi�ons under which a client engages an Independent Manager may be set forth in a separate writen agreement with the designated Independent Manager. In addi�on to this brochure, clients may also receive the writen disclosure documents and/or Offering Documents of the respec�ve Independent Managers engaged to manage their assets. Forefront evaluates a variety of informa�on about Independent Managers, which includes the Independent Managers’ public disclosure documents, materials supplied by the Independent Managers themselves and other third-party analyses it believes are reputable. To the extent possible, the Firm seeks to assess the Independent Managers’ investment strategies, past performance and risk results in rela�on to its clients’ individual por�olio alloca�ons and risk exposure. Forefront also takes into considera�on each Independent Manager’s management style, returns, reputa�on, financial strength, repor�ng, pricing and research capabili�es, among other factors. Forefront con�nues to provide services rela�ve to the discre�onary or non-discre�onary selec�on of the Independent Managers. On an ongoing basis, the Firm monitors the performance of those accounts being managed by Independent Managers. Forefront seeks to ensure the Independent Managers’ strategies and target alloca�ons remain aligned with its clients’ investment objec�ves and overall best interests. Management of Collective Investment Vehicles Forefront also provides investment management services through affiliated pooled investment vehicles Par�cipa�on as an investor in the Private Funds is restricted to investors that are “accredited investors” as defined under Rule 501 of the Securi�es Act of 1933, as amended and, in the case of the Forefront Select Master Fund, L.P., “qualified purchasers” as defined under the Investment Company Act of 1940, as well as are qualified clients pursuant to the requirements under Rule 205-3 under the Investment Advisers Act of 1940. To the extent certain of Forefront’s advisory clients qualify, they will be eligible to par�cipate as limited partners of the Private Funds. Investment in the Private Funds involves a significant degree of risk. Relevant informa�on, terms and condi�ons rela�ve to the Private Funds, including the compensa�on received by Forefront or any affiliate as the general partner and/or investment manager, suitability, risk factors, and addi�onal poten�al conflicts of interest, are set forth in the Confiden�al Private Offering Memorandum (the “Memorandum”), Limited Partnership Agreement (the “Agreement”), Fund’s Memorandum of Associa�on and Ar�cles of Associa�on (the “Ar�cles”) and Subscrip�on Agreement (together, the “Offering Documents”), which each investor is required to receive and/or execute prior to being accepted as an investor in the Private Funds. Forefront devotes its best efforts with respect to both managing Private Funds and advising its other clients. Given the below discussion rela�ve to the objec�ves, suitability, risk factors, and qualifica�ons for par�cipa�on in the Private Funds, Forefront may give advice or take ac�on with respect to the Private Funds that differs from the advice it provides under different engagements. Forefront Select Master Fund, L.P. Forefront’s affiliate, FFSF (GP), LLC, is the general partner and Forefront is the Investment Manager (“Manager”) of the Forefront Select Master Fund, L.P., a master fund created as part of a master-feeder structure established under a Delaware limited partnership on September 5, 2013 to engage primarily in the business of inves�ng and trading in the interests of other private funds. Forefront Select Master Fund, L.P., was originally known as Forefront Select Fund, L.P. and was renamed on September 25, 2015 as part of the reorganiza�on crea�ng the master-feeder structure. There are two feeder funds under this structure: the Forefront Select (Cayman) Fund, LTD., a Cayman Islands exempted company, and Forefront Select (US) Fund, LP, a Delaware limited partnership. Interests in the Private Fund are privately offered pursuant to Regula�on D under the Securi�es Act, as amended. The Private Fund currently relies on an exemp�on from registra�on under the Investment Company Act of 1940 (the “Investment Company Act”). Forefront has discre�onary authority to determine the brokers or dealers to be used by the Private Fund. The Private Fund seeks to grow capital by alloca�ng its assets primarily among hedge fund and other private fund interests (including shares of affiliated funds) that represent sources of addi�onal risks in an atempt to produce posi�ve returns and less than perfect correla�on to equity markets. The fund may also allocate assets among ETFs, mutual funds, securi�es and other instruments. In managing the Private Fund’s assets, the Manager seeks to measure risk and then balance risks through diversifying the Private Fund’s investments in interests of privately offered funds (possibly including shares of affiliated funds) and poten�ally other investments. The Manager uses both a top-down and botom-up approach that combines qualita�ve and quan�ta�ve analysis to determine strategy and inputs. Examples of qualita�ve inputs could include posi�on, trade, and strategy, risk outlook comments from underlying managers, market observa�ons and views of the Manager’s investment team. Examples of quan�ta�ve inputs could include the sta�s�cal analysis of historical returns, measured and forecasted sensi�vity to various factors or market or economic shocks, scenario analysis, risk factor trend analysis, or the monitoring of strategy variances through �me. These strategies and inputs are necessarily imperfect and past returns are not necessarily indica�ve of future outcomes. Through these investment strategies, the Manager seeks to take addi�onal risks (poten�ally avoiding redundant exposures) through different market environments. The Fund’s final investment por�olio will be a combina�on of all the Manager’s various investment strategies. There can be no assurance that the Private Fund will achieve its objec�ve. Keystone Edge SPV I, LP Forefront’s affiliate, Keystone Edge GP, LLC, is the General Partner and Forefront is the Investment Manager (“Manager”) to Keystone Edge SPV I, LP, a Special Purpose Vehicle whose primary purpose is buying, selling, or otherwise inves�ng in and monitoring Por�olio Investments and engaging in such other ac�vi�es as permited. The Partnership may also invest in a third party managed special purpose vehicle or private investment Fund (“Underlying Fund”). Any separately nego�ated fee arrangements for the Private Funds are subject to a writen leter agreement (“Side leters”). Such arrangements may cause some clients or groups of clients to pay fees that are different from the basic fee schedules disclosed in private fund offering materials. We or our affiliates may offer management fee discounts, including fee reduc�ons for exis�ng investors. Please see the applicable private fund’s offering materials for further informa�on regarding fees. Please also see