ADVISORY BUSINESS A. General Description of Advisory Firm. Kepos Capital LP (referred to in this brochure as "Kepos Capital,” the “Investment Manager,” the “firm,” “we,” or “us”) is a Delaware limited partnership that was established in December 2009; in November 2010 we began to actively advise clients. Our “principal owners” are Mark Carhart and Giorgio De Santis. Mr. Carhart is the Chief Investment Officer and a limited partner of Kepos Capital; he also controls Kepos Capital’s general partner. Mr. De Santis is the Co-Director of Research and a limited partner of Kepos Capital and owns a non-controlling stake in Kepos Capital’s general partner. Juhani Linnainmaa serves as a Co-Director of Research together with Mr. De Santis. B. Description of Advisory Services. We are a globally focused asset management firm that seeks to provide investment advisory services to U.S. and non-U.S.-based clients (including pooled investment vehicles, managed accounts and sophisticated institutional investors or other entities) by employing a scientifically- based approach to systematic global macro investing as well as fundamental and “quantamental” approach to equity special situation and carbon product investing. The firm performs its advisory services predominantly through a systematic research and investment process. Specifically, the firm’s personnel perform proprietary research, combining economic theory and/or statistical methods to identify financially profitable opportunities. Ideas are

generally developed and evaluated based on factors such as economic intuition, published research, support from empirical evidence, statistical analysis, market conditions (such as the liquidity of tradable instruments), and leverage requirements. While the main approach to investing by the firm is a systematic, statistically driven one, we also, employ certain strategies for some clients where economic intuition and investing experience are the main drivers of the strategies. C. Availability of Customized Services for Individual Clients. At present we do not offer investors in the pooled investment vehicles we manage the ability to select exposure to (or restrict or eliminate exposure to) specific assets, investments, or asset classes (other than “new issue” gains and losses, if any, that we allocate pursuant to applicable regulations); however, we may in the future offer investors within a single pooled investment vehicle the option to elect to obtain or to avoid exposure to a specific asset class or strategy. Also, we offer customized products or management services to individual clients through managed accounts or other structures. D. Wrap Fee Programs. While we have the ability to do so, as of the date of this brochure, we are not participating in any wrap fee programs. E. Assets Under Management. As of December 31, 2023, our client regulatory assets under management totaled $2,229,952,312 as reported on Form ADV Part 1A, and net asset value under management totaled $2,009,057,981.