Burren Capital Advisors Limited ("BCAL"), a limited company organized in Gibraltar, is a non U.S. based investment adviser registered with the U.S. Securities and Exchange Commission ("SEC") and wholly-owned by AMPM Ventures Limited.
BCAL serves as Alternative Investment Fund Manager ("AIFM") to the Burren Global Master ICAV ("Master Fund") and Burren Global Feeder ICAV (the "Fund" or "Feeder Fund"), collectively the Funds. The Feeder Fund and the Master Fund are umbrella Irish collective asset- management vehicles with variable capital and with segregated liability between sub-funds, incorporated in Ireland under the Irish Collective Asset-management Vehicles Act 2015 and authorized by the Central Bank of Ireland as qualifying investor alternative investment funds. The Burren Global Arbitrage Feeder Fund (the "Feeder Sub-Fund"), a sub-fund of the Feeder Fund is organized as a feeder fund and all of the assets of the Feeder Sub-Fund (to the extent not retained in cash) are invested in the Burren Global Arbitrage Master Fund (the "Master Sub-Fund"), a sub-fund of the Master Fund. The investment objective of the Master Sub-Fund is to achieve positive, continuous absolute returns, which are intended to be uncorrelated to the market even in severe market conditions, through investing in global "event-driven" and "special situation" strategies. The reporting currency for the Funds is US dollars.
Affiliates of BCAL serve as the general partner/managing member for the Fund. BCAL provides investment management services to the Funds and Sub-Funds pursuant to Alternative Investment Fund Management agreements ("AIFM Agreement") entered into between the Funds and BCAL. BCAL operates in accordance with the terms set forth in the AIFM agreements with the Funds and the Funds' Prospectuses and Sub-Funds' Supplements, which include specific operational details of the Funds and Sub-Funds, including a detailed section on the management of the Funds and Sub-Funds.
BCAL does not generally tailor its advisory services to the individual needs of investors. The firm's clients consist solely of the various Funds under management by the firm. Accordingly, BCAL does not manage portfolios for investors that seek to impose restrictions on investing in certain securities which BCAL believes may form part of its investing universe. The Funds have individual investment guidelines and objectives, as detailed in the offering memorandum (Fund Prospectus). Once subscribed to the Fund, an investor has no ability to restrict the types of investments that BCAL may make.
The Master Fund has appointed Goldman Sachs International, and SMT Trustees (Ireland) Limited, as the Prime Broker and Depositary (Custodian), respectively. The allocation of assets of the Master Fund between the Prime Broker and Custodian are determined by the nature and type of transaction and in the discretion of BCAL.
The Funds have appointed U.S. Bank Global Fund Services (Ireland) Limited, formerly named Quintillion Limited (Ireland), as Administrator. U.S. Bank Global Fund Services (Ireland) Limited is authorized and regulated by the Central Bank of Ireland under the Investment Intermediaries Act, 1995. 4 DEPOSITARY The duties of the Depositary have been entrusted to SMT Trustees (Ireland) Limited, pursuant to the depositary agreements between the Funds and the AIFM and the Depositary. The Depositary is registered in Ireland and is located at Block 5, Harcourt Centre, Harcourt Road, Dublin 2, Ireland. The Depository is authorised and regulated by the Central Bank of Ireland under the Investment Intermediaries Act 1995. The Depositary is responsible for the custody of any financial instruments of each Sub-Fund that are required to be held in custody under the AIFM Directive, and the verification of ownership of other assets that are not financial instruments that can be held in custody for each Sub-Fund.
The Depositary is also responsible for cash flow monitoring and oversight of each Sub-Fund by ensuring that, amongst others: i. the sale, issue, repurchase, redemption and cancellation of Shares are carried out in accordance with the ICAV Act, the AIFM Directive and the Instrument of Incorporation; ii. appropriate and consistent procedures are established and applied to ensure that the value of Shares is calculated in accordance with the AIFM

Directive and the Instrument of Incorporation; iii. it carries out written instructions from the Master Fund or the AIFM unless such instructions conflict with the ICAV Act, the Instrument of Incorporation or the Depositary Agreement; iv. in transactions involving the assets of the Master Fund any consideration is remitted to it within time limits which are acceptable market practice in the context of the particular transaction; v. the income of each Sub-Fund is applied in accordance with the AIFM Directive; vi. it has enquired into the conduct of the Master Fund in each Accounting Period and reported thereon to the Shareholders; and vii.it sends to the Central Bank any information and returns which the Central Bank considers it necessary to receive from the Depositary and notifies the Central Bank promptly of any material breach of the ICAV Act, conditions imposed by the Central Bank or provisions of this Prospectus. The oversight and monitoring duties of the Depositary may not be delegated by the Depositary to a third party. The Depositary shall be liable to the Master Fund and its Shareholders for the loss by the Depositary or a third party to whom the custody of financial instruments held in custody in accordance with Regulation 22 (8)(a) of the AIFMD Regulations has been delegated. In the case of such a loss of a financial instrument held in custody the Depositary shall return a financial instrument of identical type or the corresponding amount to the relevant Sub-Fund or the AIFM acting on behalf of the Master Fund without undue delay. The Depositary shall not be liable if it can prove that the loss has arisen as a result of an external event beyond its reasonable control, the consequences of which would have been unavoidable despite all reasonable efforts to the contrary. Discharge of liability to the Prime Brokers As mentioned under "Prime Brokers" below, the Master Fund has appointed the Prime Broker to provide certain prime brokerage services, pursuant to a prime brokerage agreement (the "Prime Brokerage Agreement"). The Depositary has delegated the safe-keeping of Financial Instruments, to the Prime Brokers to act as sub-custodian in accordance with the AIFMD.
Potential investors should note that pursuant to the terms of the sub-custody agreements with the Prime Brokers, the Depositary, in its capacity as depositary of the Funds, has discharged itself contractually of any liability for a loss of financial instruments.
5 Potential Investors are duly informed of that discharge and of the circumstances justifying the discharge prior to their investment. Investors will be informed of any changes with respect to the Depositary's liability.
In accordance with Article 21 of the AIFMD, the Prime Brokers have accepted the transfer and the discharge of liability for the loss of Financial Instruments held in custody by the Prime Broker from the Depositary. The Depositary does not act as sponsor of the Funds or assume any controlling duties other than those related to its custody functions. The Depositary does not warrant the contents of the Prospectuses (other than information pertaining to it), nor is it involved in the management, administration or Net Asset Value calculation of the Funds and/or the Sub-Funds.
The Depositary Agreement may be terminated by either party giving ninety days' (or such shorter period as such other party may agree to accept) prior written notice to the other party. The Depositary Agreement specifies the conditions required to be met with respect to the replacement of the Depositary with another depositary and contain provisions seeking to ensure the protection of shareholders in the event of any such replacement. Any successor depositary must be an entity approved by the Central Bank of Ireland. The Funds are only available to "Qualifying Investors" which is defined below in Item 7. BCAL does not publish research reports or sell newsletters.
BCAL also serves as sub-advisor to the Prelude Opportunity Fund LP, which is managed by Prelude Capital Management, LLC. BCAL also serves as investment manager to Montlake Burren Global Arbitrage UCITS Fund, a sub-fund of MontLake UCITS Platform ICAV, which is managed by Montlake Management Limited. As of December 31, 2023, the firm manages a total of $85,820,354 in 3 accounts on a discretionary basis.