Castlelake, L.P., which does business under the name “Castlelake” (“Castlelake”) was established in 2005 and serves primarily as: (1) the investment adviser to private investment funds, separately managed accounts and co-investment funds or other similar types of entities (“Fund” or “Funds”) that focus primarily on investments in aviation, real assets and specialty finance; and (2) the servicer of securitization trusts, ABS securitization-like vehicles, warehouse and term facilities and other financing structures (the “Vehicles”) for which Castlelake manages asset-backed loans, aircraft and other asset-based leases, finance leases, unsecured loans, as well as maintenance and disposition proceeds relating thereto (collectively, the Funds and Vehicles may be referenced here as the “Accounts”). Castlelake’s advisory services to the Accounts are detailed in the applicable private placement memorandum, confidential information memorandum or other offering memorandum and materials (each, a “Memorandum”), investment management agreements, servicing, facility management and similar type agreements, trust and similar agreements, limited partnership, limited liability company or other similar operating agreements (each, a “Partnership Agreement”) (each such Memorandum and Partnership Agreement collectively referred to herein as an “Offering Document”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” Castlelake or its related entities has also entered into side letter agreements (“Side Letters”) with certain investors in the Funds, establishing rights under, or supplementing or alternating the terms (including economic or other terms) of, the applicable Offering Documents with respect to such investors. Additionally, from time to time and as permitted by the relevant Offering Documents of each Fund, Castlelake expects to provide (or agrees to provide) co-investment opportunities (including the opportunity to participate in co-invest vehicles) to certain investors or other persons, including other sponsors, market participants, finders, consultants and other service providers, Castlelake’s personnel and/or certain other persons associated with Castlelake and/or its affiliates.

Such co-investments typically involve investment and disposal of interests in the applicable portfolio investment at the same time and on the same terms as the Fund making the investment. However, from time to time, for strategic and other reasons, a co-investor or co-invest vehicle have in the past purchased, and may in the future purchase, a portion of an investment from one or more Funds after such Funds have consummated their investment (also known as a post-closing sell-down or transfer). As well, for strategic or other reasons, disposal of interests may not be conducted at the same time or on a pro rata basis. Castlelake is managed by Rory O’Neill, Evan Carruthers, Rich Barnett, Christopher Buckley, Eduardo D’Alessandro, Brad Farrell, Alan Gearing, Peter Glerum, Yen-Wah Lam, Matt Little, John Lundquist, Joe McConnell, Daniel McNally, Armin Rothauser, and Isaiah Toback (collectively, the “Principals”). Detailed information about the Accounts is located in their respective Offering Documents. Castlelake invests called capital (and in certain of the Funds, recycled proceeds) in the Funds during their respective commitment periods, and as otherwise permitted in the Offering Documents, in portfolio investments. All discussions of the Funds in this Brochure, including but not limited to their investments, the strategies used in managing the Funds, the services provided to the Funds, the fees and other costs associated with an investment in the Funds and other terms, are qualified in their entirety by reference to each Fund’s respective Offering Documents. Investment advice is provided directly to the Funds, subject to the discretion and control of the applicable Fund’s general partner and not individually to investors in the Funds. Each Fund’s general partner, managing member or similar serving entity is subject to the Advisers Act pursuant to Castlelake’s registration in accordance with SEC guidance. This brochure describes the business practices of the general partners and managing members, which operate as a single advisory business together with Castlelake. References herein to Castlelake should be read to include the general partners and managing members as applicable. As of December 31, 2023, Castlelake manages approximately $26.32 billion in assets on a discretionary basis in its Accounts.