Carrington Capital Management, LLC (“Carrington”), a Delaware limited liability company, is an alternative asset management firm focused on investing in U.S. residential real estate related assets. Carrington commenced operations in September 2003. Carrington’s indirect principal owner is The Carrington Companies, LLC, whose majority owner and managing member is Bruce M. Rose. It should be noted that Mr. Rose is associated with Carrington only by way of his indirect ownership of Carrington, but does not act in a supervisory capacity with respect to Carrington’s advisory functions. Carrington generally provides investment advisory services to other S.E.C. registered investment advisers and limits its investment advice to assets that utilize Carrington’s experience in the U.S. residential mortgage and real estate markets, along with its knowledge and experience with related investment structures, relationships with industry counterparties and partners, operating affiliate resources and analytical and risk management capabilities. At present, Carrington provides investment advisory services to its clients with respect to the following asset classes: (i) seasoned non-performing and re- performing residential mortgage loans, including government-insured loans that were previously held in Ginnie Mae mortgage-backed securities (known as early buyout loans) (“Seasoned Loan Strategy”), (ii) newly-originated residential mortgage loans acquired from both third party mortgage originators and Carrington’s affiliated mortgage originator (“New Origination Strategy”) and (iii) excess servicing fee income related to mortgage servicing rights acquired from both third party mortgage servicers and Carrington’s affiliated mortgage servicer (“ESR Strategy”). Carrington does not currently manage any multi-investor funds. Rather, Carrington works with each client to develop a discrete investment strategy based on specific requirements or investment parameters set by the client, including investment size and liquidity, geographic diversification, the likelihood of current income, the anticipated duration of the investment,

tax and regulatory considerations, delinquency status, documentation requirements, pricing parameters and other investment criteria. Carrington also works with each client on the legal structuring related to investments in the target asset classes. In certain instances, a client will request that Carrington form one or more separately-managed ‘funds-of-one’ through which the related investment activity is conducted (each, a “Fund-of-One”). In other instances, Carrington will assist the client in acquiring investments to hold directly in the client’s own private funds and custodial accounts (each, a “Direct Client Acquisition”). Carrington sources assets for its various investment strategies from select relationships with banks, broker dealers, government-sponsored enterprises and other financial institutions (including its affiliated origination sources). Carrington performs several functions related to the acquisition of these targeted asset classes, including analyzing and valuing the assets using various quantitative econometric variables and qualitative data obtained through Carrington’s operating affiliates and external data sources, structuring (in consultation with its outside advisors, including regulatory and tax counsel) the investment vehicles that will hold the assets, drafting and negotiating the related transaction documentation, and performing and coordinating asset level due diligence. Carrington typically utilizes its affiliate mortgage loan servicing, mortgage loan origination, real estate brokerage, title insurance & settlement services and foreclosure trustee affiliates as a means of managing the quality of execution and delivery of ongoing asset management services, all in an effort to enhance its clients’ return on investment. Separately, Carrington assists its mortgage loan servicing affiliate, Carrington Mortgage Services, LLC (“CMS”) in the acquisition by CMS of pools of mortgage servicing rights for its own account. As of December 31, 2023, Carrington had regulatory assets under management of $4,126,977,787, all managed on a non-discretionary basis.