Sands Capital Ventures is an independent investment management firm that was formed in October 2010. Sands Capital Management, LP is the principal owner of Sands Capital and, in turn, is principally owned directly and indirectly by a number of limited liability companies and estate planning trusts as identified in Schedule B of Part 1. Sands Capital and Sands Capital Management LP are ultimately controlled by Frank M. Sands. Sands Capital Ventures provides investment advisory and management services primarily to pooled investment vehicles and may also provide such services to separately managed accounts (together with pooled investment vehicles, the “Funds”) from time to time. References in this document to Funds are applicable to the pooled investment vehicles, and should be read and interpreted only as applicable, to separately managed accounts. The Funds are exempt from registration under the U.S. Investment Company Act of 1940, as amended (the “1940 Act”), and their securities are not registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Sands Capital Ventures’ investment advisory and management services are primarily regarding venture capital, growth equity and related investments. Sands Capital Ventures’ investment strategies and methods of analysis are described in Item 8 – Methods of Analysis, Investment Strategies, and Risk of Loss. As the investment adviser to each Fund, Sands Capital Ventures and its affiliates identify investment opportunities for, and participate in the acquisition, management, monitoring and disposition of investments of, each Fund. Sands Capital Ventures focuses its investment research and due diligence efforts across geographies and industries, including life sciences, technology, and consumer. The Funds invest in businesses across multiple stages, principally from seed through late-stage growth equity. The Funds may also invest in their portfolio companies’ initial public offerings and thereafter in secondary public market transactions or public or private follow-on offerings. Some Funds, depending on their investment strategies, also initiate investments and trade in the securities of public companies. Investments typically take the form of privately negotiated instruments, including unregistered equity from both U.S. and non-U.S. issuers, and in some instances, publicly traded securities. From time to time, the senior principals or other staff members of Sands Capital Ventures or its affiliates expect to serve on such portfolio companies’ respective boards of directors or otherwise act to influence control over management of portfolio companies in which the Funds have invested. Sands Capital Ventures may, from time to time, engage persons unaffiliated with Sands Capital Ventures to represent

the relevant Fund(s) on portfolio companies’ boards of directors. Some of the Funds also invest in investment funds managed by unaffiliated third parties that principally target venture capital and/or growth equity investments. Sands Capital Ventures’ investment advisory services are performed in accordance with the advisory agreement and/or organizational documents of each Fund and are subject to the direction and control of the general partner of each Fund, if any. Any restrictions on investments in certain types of securities are established by the general partner of a Fund and are set forth in the documentation received by an investor prior to investment in such Fund. Once invested in a Fund, investors cannot impose restrictions on the types of securities in which a Fund may invest. Each general partner of a fund is subject to the U.S. Investment Advisers Act of 1940, as amended (the “Advisers Act”) pursuant to the registration of Sands Capital Ventures in accordance with SEC guidance. This Brochure also describes the business practices of the general partners, which operate as a single advisory business together with Sands Capital Ventures. In the closed-ended pooled investment vehicles managed by Sands Capital Ventures, investors in such a Fund generally have no right to redeem their interests in such Fund prior to the expiration of its term and can obtain liquidity only upon the termination of the Fund or a partial disposition of its investments. In open-ended Funds managed by Sands Capital Ventures, investors are permitted to periodically redeem their interests in such Fund, subject to the terms set forth in the organizational documents of such Funds. Sands Capital Ventures had assets under management of approximately $2,876.4 million as of December 31, 2023. Sands Capital Management, LLC is an advisory affiliate of Sands Capital Ventures (“Advisory Affiliate”). The Advisory Affiliate provides investment advisory and management services to its clients, primarily regarding public equity strategies and related investments, and primarily on a discretionary basis. Under personnel-sharing and other arrangements, Advisory Affiliate’s staff members act on behalf of Sands Capital Ventures for purposes of providing services to its clients and provide other back office and administrative services to Sands Capital Ventures. Certain Advisory Affiliate staff members are also officers of Sands Capital Ventures. Sands Capital Ventures believes that harnessing the collective capabilities of Sands Capital Ventures and the Advisory Affiliate benefits its clients. These joint teams use expanded and shared capabilities, including the sharing of research and other information by investment staff members relating to economic perspectives, market analysis and securities research.